6 points toponder about selling your home NOW - PLUS...3ways to prep for April 15th
Many homeowners ready to sell are insteadwaiting a couple of months until the popular Spring home selling seasonbegins. But the fact is, in many locations, NOW may be the righttime to put that property on the market. Here are 5 things tothink about:
1. Pay no attention to media reports on nationwide statistics for thehousing market. They mean nothing to you as a seller because real estate markets arepurely local.
2. Remember, theratio of supply to demand is key to the health of your local realestate market. So no matter what you read about the housingmarket nationally, the local facts determine your chances of making asale at any point in time.
3. So, the first question to ask your Realtor is how much competitionyou'd have if you put your home on the market now, before theSpring activity begins.
4. Because not many sellers put their homes on the market the first fewmonths of the year, the inventory of homes for sale usually dwindlesduring the winter months. So, if your area is shy oninventory of good homes, now could be a good time to sell.
5. Interest ratesare low but won't stay that way forever. There could be a fairnumber of savvy buyers in your market who know this and want to takeadvantage of the situation now.
6. Many expertsbelieve that the big price declines are behind us. More than afew buyers are beginning to realize this and are taking a good look attoday's market.
STEP UP TO THAT TAX RETURN!
Preparing your tax return needn't be an annual ordeal. Gettingorganized can take a whole lot of stress out of the process. Now is thetime to gather the information you'll need to do your return or handover to your tax professional. There are just three categories:
1.Paperwork:
- Last year's return
- All income info: W-2 forms, 1099 forms, alimony,self-employment income
- Any 1098 forms: mortgage, educational institutionstatements, etc.
- IRA info
- Savings and investments info
2.Deductions:
- Charitable contributions
- Job hunting costs
- Moving costs
- State and local income taxes and sales taxes
- Real estate and personal property taxes
- Home mortgage interest and investment interest
- Points on a home mortgage or refinance
- Casualty and theft losses not covered by insurance
- Non-reimbursed business entertainment and travel expenses,including car use
- Business use of home
- Medical expenses
- Educational expenses
3.Miscellaneous expenses:
- Tax preparation and tax advice fees
- Safe deposit box rental
- Investment fees and expenses, including service charges ondividend reinvestment plans and trustee's fees for your IRA, ifseparately billed and paid
- Convenience fees charged for paying income tax, includingestimated tax payments, by credit or debit card
- Appraisal fees for a casualty loss or charitablecontribution
- Ask a tax professional about other expenses you can deductif you have extensive investments, or estate, trust, IRA or SocialSecurity issues
The above are only guidelinesto help you organize some of the information you'll need to prepareyour tax return. If you have any questions about these or other taxmatters, alwaysconsult with a qualified tax professional.
... Have agreat day!
PS Withtoday's mortgage rates at historic new lows and the mostaffordable home prices ever, manypeopleare upsizing, downsizing or refinancing. Please call or email usnow todiscuss your situation.
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