Your REALTOR:
Bonnie Fagoh
July 1999
Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
Copyright © 1999 Realty TimesAll Rights Reserved.
Give Your Home Curb Appeal You've heard the expression "Sell the sizzle, not the steak." Selling a home is just like marketing any other product. The more effort you put into the marketing, the more results you are likely to see in terms of activity and offers. The first thing to realize is that whatever condition your home is in, it probably is not in "show" condition. There are items we learn to live with to the point that we forget the little eyesores and honey-do's that never got done. Over the years, clutter accumulates. Our eyes adjust to that fading paint color. We love the home as it is, and fail to see what the home is like compared to others. Other homes - your competition - may be in show condition. If yours isn't, it will look tired by comparison. Second, your buyer is going to view your home with the opposite attitude from yours. You are presenting something you
Mortgage RatesNational averages as of June 30, 1999:
30 yr. fixed: 7.56%15 yr. fixed: 7.2601 yr. adj: 5.99%
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are proud of - the buyer is going to do his/her best to find as much wrong with it as possible. If they find too much wrong with it, they'll walk. If they like the house, they will try to find enough wrong with it to make a lower offer. The reason they do that is to get you to lower the price. You see - the buyer and the seller are opposites. You are trying to sell the
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Wondering What Your Home Is Worth?Let me show you.
Property Tax Protests Once in a blue moon a reader writes in to my real estate column complaining that -- "Our property tax assessment is too low!" Turns out, usually, that they're worried about the eventual sale of their property. Will buyers assume the place is worth less than they're asking for it? And should they protest and ask that the assessment be raised? Well, of course they shouldn't. Well-informed buyers know that however well-intentioned and skilled, the assessor's figure is still just an estimate, and is seldom a reliable guide to market value. Meanwhile, a lower property tax can be a plus from the potential buyer's point of view. But usually, the complaint is quite the opposite. In some communities, assessment is automatically changed to the sale price when property is purchased and that's that. It's hard to argue that the place isn't worth what you just paid for it. Elsewhere, though, there is often room for appeal, when you think you're being asked to pay more than your fair share of property taxes.
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Home Office Deductions Add To Your Home's Tax Savings Along with the mortgage interest deduction, mortgage credits, deducting points and capital gains tax breaks on the sale of a home, your residence provides a bounty of tax relief for living there, but it also offers breaks if you work there too. If you work at home and want to save money with the new, liberalized rules for 1999 home office deductions, become familiar with them now so you can assess your situation and be sure you will be able to validate your claims. More than 1.5 million Americans claim the deduction and cut an average of $2,000 from their tax bill, according to Working Today a nonprofit advocacy group for self-employed workers. "There's been an explosion in the number of people working out of their homes, so this is a fast-growing issue," says Joe Schwartz, president of the California Society of Enrolled Agents. Here are some basic facts to consider if you work at home:
A home office may qualify for deductions if you use it for administrative or management activities of your trade or business if there is no other fixed location to conduct such activities.
The home office deduction is available to you whether you rent or own.
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Deductible Moving Expenses Yes, Uncle Sam stands ready to help soften the expense of your job-related move. No, he isn't quite as generous about it as he used to be.You may be eligible to deduct some moving expenses if:
Your new job or job transfer is at least 50 miles farther from your home than the old one was.
If you had no previous job, the new one is at least 50 miles from your old home.
You are in the armed forces and had a permanent change of station . You are eligible if you are working full-time (defined as at least 39 weeks in the next year.) Expenses are included if they are incurred within one year from the day you reported to work at the new job. Time extensions are sometimes granted, if, for example, you remained in your old home until your daughter graduated from high school. If you are self-employed, you also need at least 39 weeks in the 12 months after the move. Generous provisions, however, allow coverage without the required length of time at the new job for members of the armed forces, those transferred by an employer, those who lost a job through no fault of their own, and persons returning to the United States from abroad when they retire (or their survivors).
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Daily News and Advice -->Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Bonnie Fagoh E-mail: bonniefagoh@century21beggins.comWeb: http://bonniefagoh.mfr.mlxchange.com813-390-7606
Century 21 Beggins Enterprises813-390-76066542 U. S. Hwy. 41 N.Apollo Beach, FL 33572
Equal Housing Opportunity
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