Last week, I shared information about how to avoid nasty surprises from Uncle Sam when you sell your house, specifically regarding capital gains tax. Since then, it’s come to my attention that some folks don’t really understand the difference between proceeds and profit, which is key to understanding how you’ll be taxed. The proceeds are … Read more
If you own a home, it’s probably your most valuable financial asset, so if you decide to sell, you’ll want to walk away with as much money as you can. However, when you make a profit by selling assets like real estate, the government gets a piece of the action through taxes. So, the question … Read more
Whether you’re buying or selling a house, once you’ve signed on the dotted line, you’ve agreed to the terms of a contract. So, why do people back out and how can you prevent your real estate transaction from falling apart? First, there are two types of backing out: those explicitly allowed within the contract (known … Read more
As someone who makes a living based on what’s happening in the housing market, I tend to pay a lot of attention when I hear the r-word being thrown around, r as in recession. According to Investopedia, a recession is a “significant, widespread, and prolonged downturn in economic activity.” Economists often define a recession as … Read more
Some people think being a Realtor means ordering business cards, plunking a sign in someone’s front yard, and waiting for a buyer to make an offer—then picking up a commission check 30 days later. That, my friends, is not how this works. Get Licensed To be a real estate agent, you must be licensed by … Read more
Most of us look forward to retiring someday. If you own a home, it can be an important part of your financial future. Leverage Your Home Equity If you purchased a home 20 or 30 years ago, chances are it has appreciated during that time, making it worth more now than it was when you … Read more
While it can be exciting to buy a home, it can also be stressful. For most people, this is the single biggest purchase they will ever make. The only way to completely eliminate stress is not to buy, but if you are committed, here are some tips to make the process go more smoothly. Prepare … Read more
Let me begin by saying this is more of an investment article than a real estate article, but I hope you’ll find it useful, nonetheless. If someone offers you a risk-free investment, be suspicious because by its very nature, financial investing is risky. The foundation upon which investing is based is the risk-return trade-off, which … Read more
When choosing the person who will guide you through one of the biggest financial decisions of your life, it’s important to know what to look for. Last week, I shared some ideas on how to spot a good Realtor. Here are a few more. Find Someone Willing to Give It to You Straight Once you … Read more