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Tax tips for home buyers and sellers
While the 2019 tax filing season may be over, if you’re buying or selling real estate this year, you may want to consult a tax expert as well as a real estate agent. “The key is to become a great record keeper — that can save you a big capital gains bill when you decide to sell,” said financial adviser Cameron McCarty, president of Vivid Tax Advisory in West Des Moines, Iowa, in an email. McCarty offers the following tax-smart tips for real estate transactions: For sellers: There is a capital-gains tax exclusion of up to $250,000 for a single person or $500,000 for a married couple filing jointly. This…
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Mortgage Interest Rates Continue To Drift Lower
Several benchmark mortgage rates receded today. The average rates on 30-year fixed and 15-year fixed mortgages both slid down. On the variable-mortgage side, the average rate on 5/1 adjustable-rate mortgages inched up. Rates for mortgages change daily, but they have remained in a historically low range for quite some time. If you’re in the market for a mortgage, it could make sense to go ahead and lock if you see a rate you like. Just be sure to shop around. 30-year fixed mortgages The average rate for a 30-year fixed mortgage is 4.02 percent, down 5 basis points over the last seven days. A month ago, the average rate on…
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Technology poised to change home-buying traditions
In the not-too-distant future, you could close on the sale of your home in just a few days by using a smartphone app without ever even meeting another human being. A wave of new real estate technology backed by billions of investment dollars is spreading across the U.S., threatening to disrupt a sedate industry the way ride-sharing and online short-term rentals did to the taxi and hotel businesses. New ways of processing data are speeding up sales, better analyzing market rates and changing home financing. Despite Maine’s self-identification as a high-tech backwater, it will be here sooner than we think, said Dava Davin, principal broker with Portside Real Estate. “Is…
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When to walk away: Red flags in the home buying process
Buying a home is an incredibly exciting decision, but it rarely goes as smoothly as we hope. From questions about the neighbors, to surprises on the inspection report, add in the nerves associated with making one of the biggest investments of your life, and it begs the question: how do consumers know whether to take the plunge or walk away? To begin, work with people who are knowledgeable and honest. “When deciding whether to buy, trust your professionals. A good home inspector should point out potential problems in the home and your realtor should be able to negotiate having those fixed or a lower price,” co-founder of Angie’s List, Angie…
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Homebuying in 2019: Prices dipping, but other problems linger
After an almost decade-long “seller’s market,” in which prospective homeowners routinely encountered a bidding war, prices for homes and condos are leveling off. But buyers shouldn’t count on having an easier time negotiating — particularly for a “starter” home. Chief Economist Lawrence Yun of the National Association of Realtors predicts just a 2 percent rise in home prices this year. “Price increases will be difficult to maintain after several years of sizable gains,” said Yun. Housing prices have risen 52 percent since 2010 when the nation began to recover from the real estate crash. Yun’s prediction is in line, but not in total agreement, with other projections. Global analytics firm…
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2019 Real Estate Forecast
2019 is almost here and just about everyone from buyers, sellers, investors, economic analysts and construction crews are interested in what’s in store for the real estate market next year. Why? The real estate market has turned from a sellers market to a buyers market but the good news is that 2019 is going to be awesome if you know how to position yourself properly in the market. What To Expect In 2019 There’s no doubt about it: the 2018 housing market has seen its ups and downs. The year started with sky-high home prices, historically low mortgage rates and a definitive upper hand for sellers. In recent months though,…
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Technology poised to change home-buying traditions
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Home Buying Tips For Unmarried Couples
Are you planning on buying a home with your partner or fiancé? If so, there’s no doubt that buying a home can be a stressful experience when you’re married but it can also be even more stressful if you’re unmarried that’s why in this article I will share with you several home buying tips for unmarried couples. Sign a prenup… for the house No couple wants to talk about breaking up, but if you’re going to be co-homeowners, it’s a must, says Renee Bergmann, a real estate attorney and owner of Bergmann Law LLC in Westmont, New Jersey. She recommends unmarried couples create a co-ownership contract with the help of…
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US Housing Starts Rose in August
There’s no denying that the Real Estate market has been up and down recently but the good news is that housing starts actually rose during the month of August and this certainly be a welcome relief for a housing market that’s been hard up for inventory in recent years. About Housing Starts in August U.S. housing starts grew modestly last month, driven by an outsize jump in an apartment building that masked weakness in the pipeline for single- and multifamily construction. Housing starts increased 9.2% in August from the prior month to a seasonally adjusted annual rate of 1.282 million, the Commerce Department said Wednesday. This rise in the building was…
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How to Sell Your Home During A Cooling Real Estate Market
By Heath Olinger DALLAS, TX. – One thing most agents, brokers, and people who work in the real estate market agree on right now is that the market is cooling. The August 2018 real estate market is different than the January 2018 market but the good news is that in spite of the cooling it’s still possible for you to sell your home if you follow these tips. Tip #1 – You Have to Get Your Home Ready for Showing Yes, it’s true, you have to take the time to get your home ready for showing and can’t just sell it “as is” because a home that’s been prepared for…
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Home Buying Tips For First Time Buyers
Whether уоu are buуіng a hоmе fоr thе first time оr уоu аrе juѕt looking for аn upgrade, іt is nеvеr a bad idea tо arm уоurѕеlf wіth tips that саn mаkе уоur ѕеаrсh gо from оvеrwhеlmіng tо еnjоуаblе. Rаthеr than learning thе hаrd wау about hіddеn expenses аnd difficult neighbors, thеrе аrе thіngѕ уоu can dо tо feel more соnfіdеnt аѕ you begin уоur ѕеаrсh. Wіth a ѕеllеr’ѕ market in many parts of the соuntrу, thеѕе tірѕ are еvеn mоrе іmроrtаnt аѕ уоu bаttlе оthеr buуеrѕ fоr thе home оf your drеаmѕ. The more efficient аnd ѕtrаіghtfоrwаrd you аrе in уоur search, the better сhаnсе уоu’ll hаvе tо hеаr…
