Susie Norton

Marketing a Home to Sell in Today’s Market

2009-03-27T16:53:00Z

Marketing a Home to Sell in Today’s Market

Marketing a home for sale in today's volatile climate has caused every home owner to rethink how they should go about selling their home. One can no longer sell a home that is filled with children's toys, or dirty laundries, as well as dirty dishes in the kitchen sink. When deciding to put you home up for sale in today's market it is important that everything is as perfect as it can be.

The first thing a prospective home buyer will see when they come to your home is the front yard. Curb appeal is extremely important to a prospective buyer. One can only imagine how many people will look at a home from the street and never even call the agent or go inside the home because the exterior appeal just is not there. Your home should be weed free with lush looking grass. Another must for curb appeal are well groomed shrubs near the house. A few beautifully flowering plants will also add to the feel of an inviting home. One other must is an attractive well painted front door.

When the prospective buyer walks into your home it is extremely important to have a warm inviting feeling home. All the walls should be freshly painted with attractive neutral wall decorations. The idea is to encourage the prospective home buyer to feel as if they could just bring their personal possessions and move into the home with out needing to do any redecorating.

As the prospective buyer moves into the home, the rooms should be well staged. Each room should have strategically placed furniture to give a feeling of openness to the rooms. Walls should be freshly painted; floors should have new carpeting throughout the home. The home should feel warm and inviting.

One of the most important rooms in your home is your kitchen. To a woman the kitchen is the central part of the home. A wife will look at the kitchen, and imagine having an intimate family get together in her kitchen. It is important that the kitchen be clean with tidy uncluttered kitchen cabinets. One should have the counters clean and clutter free. A few items on the counter are okay as long as she can imagine serving dinners with plenty of space to spare. It is always a good idea to have something good smelling in the kitchen. It could be cookies baking in the oven, or something simmering on the stove top.

Another very important room in the home is the bathroom. An appealing bathroom will have matching towels sets with bath mats, trash containers, as well as possibly having matching water glasses. The shower and tub should be gleaming. The sink and toilet should also be squeaky clean as well.

The master bedroom is probably the most important room in the house. This room should feel like the husbands and wife's retreat from the daily worries. The master bedroom should be that special retreat where they can pamper themselves.

Selling your house is no easy task, but with a little time and effort (and a little elbow grease) you can impress the buyer and sell your house.

IMPORTANT First Time Homebuyers $8000 Tax Credit Information

2009-02-19T01:31:00Z

The Stimulus Plan was signed into law by President Obama today. It contains a new tax credit for first-time homebuyers. Essentially, first-time homebuyers within certain income limits who purchase a home in 2009 before December 1, 2009 will receive a tax credit of up to $8,000. The program is similar to the $7,500 tax credit which applied to home purchases made in 2008 after April 9.

A comparison of the two credit programs is outlined below.

While the Stimulus Plan was still being debated, the Senate version originally included a $15,000 tax credit for all homebuyers. To lower the cost of the Stimulus Plan, the final version of the Plan contained this smaller tax credit, and this tax credit is applicable only to first-time homebuyers.

To qualify as a first-time home buyer as defined in the programs, the purchaser (and the purchaser’s spouse) may not have owned a home in the three years prior to the purchase date of the home. Single family homes qualify for the program. The home must be the primary residence.

Both tax credits are subject to the same adjusted gross income limitations (full credit for AGI less than $75,000 single/$150,000 joint, phased out for AGI up to $95,000 single/ $170,000 joint).

The amount for either credit is the lesser of 10% of the home purchase price or $7,500 or $8,000, as applicable.

While a purchaser still owns the home, the $7,500 credit must be repaid in equal payments over a period of 15 years, starting with the 2010 tax filing. The $8,000 credit will not need to be repaid. Again, the $7,500 credit needs to be repaid, while the $8,000 credit does not!

Upon sale of the home, any portion of the $7,500 credit not yet repaid is due in full. No portion of the $8,000 credit is due upon sale of the home, if the home is owned for more than three years. If the home is sold within the first three years, the full amount of the credit is due upon sale.

The $7,500 credit was not available to any purchaser utilizing state/local revenue bond money to help finance the home purchase. There is no such restriction on the $8,000 credit.

Under both the $7,500 and the $8,000 programs, the credit will be claimed on the purchaser's income taxes. Any amount in excess of taxes owed will be refunded to the purchaser.

Additional information about the tax credit can be found on the websites of the National Association of Realtors (www.realtor.org) and the National Association of Home Builders (www.nahb.org).

Tax Credit to 1st Time Home Buyers With Down Payment

2008-11-02T22:12:00Z

Tax Credit to 1^st Time Home Buyers To Help With Down Payment

Last July, Congress initiated a new law called the Housing and Economic Recovery Act of 2008.

The intent of this law was to fix the multiple ills affecting the housing market, with the expectation that all would be right again with the economy. As we now know, this effort at economic rescue wasn’t enough. However, there are parts of the law that, over time, may help the housing market recover.

One of these is the first-time homebuyers tax credit. If you qualify for this credit, the US Treasury will make you a 15-year interest-free loan of $7,500 to help you buy a home.

We’re talking about the Internal Revenue Code where there are multiple definitions, limitations, qualifications, expectations, etc. that only a dedicated tax professional will understand.

Generally speaking, this is how the program works. First, you (and your spouse, if you’re married) have to be a first-time homebuyer. This doesn’t actually mean what it says. It means that you can’t have owned a home for three years prior to your purchase.

Next, to receive the full $7,500 tax credit, your income, if single, can’t exceed $75,000. If you’re married and filing jointly, the limit is $150,000. You can go over these limits by up to $20,000 and still get a partial credit. Income generally means salary, wages, interest on investments, etc. before deductions and exclusions.

As an additional requirement, you must have made your home purchase from April 9, 2008 to July 1, 2009. So, if you qualify, you have another eight months to buy a home and receive the credit.

Because this is a tax credit and not a tax deduction, it reduces your tax liability dollar for dollar. And if your tax liability is less than the amount of the credit, the excess will be paid to you in the form of a refund. Thus, if your tax liability for the year in which you use the credit (2008 or 2009) is $5,000 and you qualify for the full $7,500 credit, you will receive a refund check for $2,500.

As noted above, this tax credit isn’t just a gift from your government. It’s a loan. If you use the credit, starting in the second tax year after your purchase, your taxes will go up by $500. This will continue for 15 years. If you sell the house before that, you must pay back the unpaid balance of the credit, up to the amount of your gain on the resale. If the gain isn’t enough to cover what you owe, you’re off the hook. The US Treasury will write off the difference.

An interest free loan is nothing to scoff at. If you borrowed $7,500 at 7 percent interest and paid it off over 15 years, your interest cost would be $4,773. This tax credit, coupled with the fact that sellers in the home market are begging for buyers, makes this an ideal time for first-time homebuyers to purchase a home.

For expert advice please contact your tax professional. For more information on this first-time homebuyer tax credit, go to www.federalhousingtaxcredit.com. For all your real estate needs contact us at www.PikesPeakHomeLiving.com.

First Time Home Buyer Tips

2008-10-31T16:21:00Z

First Time Home Buyer Tips

Being a first time home buyer is intimidating and a big life experience. First time home buyers often don't know where to begin. We can help. From mortgages, to home searches in your best places to live and schools information we can give you the tools you need to move forward. Contact us at www.PikesPeakHomeLiving.com to find out more information. One of the first steps to being a first time home buyer is to get your financial house in order and make sure your credit is great. Once pre-approved for a mortgage, the home search process (the fun part) begins.

There are lots of styles of homes and neighborhoods research you'll want to explore as a first time home buyer before settling for a place and looking for homes. Search homes online and get help from a buyer’s agent to help you secure a great first time home at a fair price. The mortgage types for first time home buyers may be more difficult to get these days and the process intimidating. Once your offer is accepted be sure to check out moving resources to get quotes on movers and other tools for first time home buyers moving into a new area.

As a first time home buyer be sure to keep some things in mind before you settle down. Is the neighborhood great? Is the area appreciating? Does your home have the room you need for family growth? How is the job market in the area and how close are your favorite hot spots? Once you find the right place, unpack and enjoy! Your first time home buyer experience is now complete.

Single Story For Sale in Cripple Creek Mountain Estates

2008-09-24T06:00:00Z

Must See!

• single story - MLS® $25,000 - Amazing Views!

Cripple Creek Mountain Estates, Cripple Creek - Description: Beautiful Lot To Build Your Dream Home On. In The Serenity Of The Aspens And On A Cul-De-Sac. Incredible Views! Just A Short Distance To Club House With Exercise Room And Heated Pool And The Stock Fishing Ponds! Don't Miss This Wonderful Piece Of Paradise Located 9119 Feet Above Sea Level!

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Single Story For Sale in Florissant

2008-09-24T06:00:00Z

• single story - MLS® $16,500

Florissant, Teller County - Description: Absolutely Stunning Half Acre Lot To Build Your Dream Home Upon. Awesome Views! This Piece Of Paradise Located At 9000 Feet Above Seal Level Will Not Last!

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Single Story For Sale in Woodland Park

2008-09-23T06:00:00Z

Mountain property - must see!

• single story - MLS® $12,500 - Paradise property!

Woodland Park, Teller County - Heavily wooded 1.15 acre lot with great building site. Lots of new baby pine trees growing! Stunning views! Located in desirable Cripple Creek Mountain Estates. Access to club house with exercise room & heated pool and stocked fishing ponds. This is a piece of paradise

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Single Story For Sale in Divide

2008-09-23T06:00:00Z

Paradise setting!

• single story - MLS® $245,000 - Spectacular Mountain Prop

Divide, Teller County - Absolutely Beautiful - This One Is Not To Be Missed! Borders State Park!! Wildlife Galore! Exquisite Views! Two Roads Already Roughed In. Three Sides Fenced. Mountain Top Porperty Containing At Least Two Homesites - Perfect For Your Mountain Getaway. There Are So Many New Trees Growing On This Land, Its Unbelievable! Secluded And Private Yet Very Close To All The Ammenities Of Town.

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