Another Day Another Scam

Posted On: April 19, 2019

Being scammed in 2019 can happen very easily. In our tech-driven world, there are many avenues that scammers can use to take advantage of us. Using smartphones, computers, and other advanced tech, they will do whatever it takes to steal your hard earned money. This can happen in many different ways, including sending an email, calling or texting you, or (recently) creating a fake bank. At the beginning of the year, we wrote a blog called "Wire Fraud is on the Rise” and we’d like to remind you that we have partnered with Qualia, the real estate software that offers…

Millennial Homebuyers

Posted On: April 12, 2019

Millennials are going to be the target audience for home buying for quite some time, which could spark some bigger interests, but also bring in a broader variety of homes into view. In a survey done by Northshore Fireplace, "Almost half the millennials surveyed (45 percent) say they expect their first home to be their "dream home," according to a new survey of 2,000 millennials between the ages of 22 and 37." This can be seen as an unrealistic view. However, the generation is willing to relocate. From the survey, 65 percent of these millennials said they are willing to…

Capital Gains Tax on Real Estate

Posted On: April 5, 2019

Capital gains tax can happen when a homeowner buys their home for $100,000 and then, later on, sells their home for $500,000. Unfortunately, the seller may have to pay taxes on those profits in the form of capital gains tax. Now, with the new Tax Cuts and Jobs Act changing some rules, now is a great time to go over capital gains and how they work. The first thing to mention would be the requirements to claim an exclusion of up to $500,000. The home your selling must be your primary residence, you must have owned the house for at…

Which Price is Right?

Posted On: March 29, 2019

Proper pricing in real estate is an important piece of getting your house off the market. Since buyers have the option to pick their budgets online while looking for their next home, for example, they can search for houses in a range of $150,000 to $200,000. However, it is important to list a house at a nice round price to get more clicks from more buyers. So, when putting a house on the market, instead of listing for $249,000, you can list for $250,000 to get a more extensive range of buyers. This way, you get seen by the groups…

Home Staging Makes Selling Easier

Posted On: March 22, 2019

The National Association of Realtors (NAR) recently found in a survey that 83 percent of buyers' agents say staging makes it easier for buyers to visualize their future home. NARs President, John Smaby, said the following, "Realtors understand the importance of making a residential property as welcoming and appealing as possible to potential buyers." When buyers enter a home, they look for how they would set things up. A staging could help them get an idea of how things could look if they lack creativity too. More than half of the sellers' agents agree that a home is bought quicker…

Good News for Real Estate

Posted On: March 15, 2019

The National Association of Realtors President, John Smaby, believes real estate firms should remain optimistic about the future. "To look optimistically toward the future, with a majority expecting profits to increase in the next two years. These trends are positive signs, particularly in our constantly evolving industry." This is a good look into the real estate business, which has seen low numbers for the past few years. However, the month of March seems to be bringing good news. The average rates have seen a decline since early November, leaving the average 30-year rate at 4.41 percent. This brings in the…

Cold Spring for the House Market

Posted On: March 8, 2019

Springtime invites many new home buyers into the market. However, this year seems to be taking a slow start due to higher prices. This is mainly hitting high economy areas, like California and other western states and cities and is part of a trend we've seen over the last five months. There are also too many homes and not enough buyers which has made homes more expensive. Danielle Hale, the chief economist for realtor.com, says "Sales have slowed. ... Affordability is a challenge." This is mostly because of a long-term housing shortage that pushed prices higher, on a monthly and…

Inspect Before You Buy

Posted On: March 1, 2019

When looking for your future home, you'll most likely wonder if anything is wrong with the house. This is what home inspectors do too, they worry about your next home for you. Approximately 55 percent of home inspections nationally wrote doors that needed adjusting, 54 percent lacked exterior caulking and sealant, which could leave the home vulnerable to water damage, and about 48 percent of homes' Ground Fault Circuit Interrupter (GFCI) lacked protection to reduce the risk of electrocution in places like the kitchen or bathroom. Unfortunately, some fixes for a new home or any home can be quiet expensive.…

Flood Insurance Reform

Posted On: February 22, 2019

In 2017, House Financial Services leadership announced that the flood insurance reform would be a priority. The flood program was going to expire on September 30th, in 2017. However, several controversial reform bills were introduced that stalled in Congress.  Once the 2017 hurricane season hit, Congress changed focus which led to multiple short term extensions of the flood program. 2018 saw many extensions which turned into program lapses and more week-long extensions. Just like 2017 and 2018, the year 2019 might not be any different. However, there is always hope for true reform. Late 2018 Congress voted on a standalone…

New Tax Laws Trigger Moves to More Affordable Florida

Posted On: February 15, 2019

Who doesn't love living near or on the beach, close to Disney and Universal Studios, or in a nice tropical paradise filled with rivers, beautiful nature, and tons of activities for the family (no matter their taste)? The obvious answer is nobody; Florida is a giant mixing pot for many reasons. People from other states are more frequently deciding that Florida is perfect for them, not just because of the things listed above, but for the fact that it is more affordable; Especially those in high tax states. One example is New Yorkers beginning to find themselves moving to Florida.…