Kay Severson

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WHAT 12 QUESTIONS TO ASK BEFORE HOME PURCHASE-

If you bought a house with no maintenance issues big or small, let me know. That would be one for the record books. In reality, most homeowners find a problem, quirk, shortcoming, whatever, within the first couple of months of buying their new home. These problems are usually never asked or thought of.

1. Has There Ever Been a Busted Pipe?
A broken pipe isn’t rare; in fact, water damage caused by a frozen or burst pipe is a leading cause of homeowner’s insurance claims, at around 22% of all home insurance losses, according to the Insurance Information Institute. What bursts? Typically exposed water pipes in unheated basements and crawl spaces, along with exterior faucets. There are usually tell- tell signs when a pipe bursts, but with a little bit of paint and know how, those signs can disappear.

2. How Old is the Roof?
Knowing the approximate age will give you a good idea of how soon you’ll face — and need to budget for — repairs or replacement. A new roof is no small matter: It could cost you in the 10 to 20 thousand range depending on material, labor and size of your roof.

3. Any Infestations of Termites, Carpenter Ants, or Other Pests?
This should be disclosed by the previous owner at time of sale. But even if the owner dealt with a past infestation — and can offer proof, such as a receipt for pest control — that doesn’t mean the little buggers have been totally eliminated.

Read the Full Story Here! - http://acadiana.realtytimes.com/advicefromtheexpert1/item/37685-what-questions-to-ask-before-home-purchase

6 MISTAKES TO AVOID WHEN SELLING A HOUSE-

1. DON’T SELL BEFORE THE HOUSE IS READY
That is a common seller mistake that many homeowners commit that has always cost them of attractive sale deals. You should always ensure that your home is available for sale before you start advertising it to potential buyers. Making your home ready for sale entails ensuring that all the minor repairs are taken care of, the house is clean and that you have staged it properly. If you cannot afford to pay an expert to do it for you, you can do most of the preparations on your own. Forgetting to do these small repairs may lower your home value or even prevent you from making a sale at all. The importance of doing this is that, if a buyer notices that you have neglected minor repairs like a faulty door k**b or a creaking window, they might wonder what other major repairs have not been addressed in the home.

2. DON’T OVER IMPROVE
Another mistake that you should steer away from is over-improving your home. When you are making your home ready for sale, you might be tempted to over-improve it in a bid to make it look more attractive to buyers. However, experts advise that you should do it in moderation so as to avoid scaring customers especially if the house is situated in an area where there are many other houses for sale. That is because the other houses in the surrounding might just be moderately enhanced, which will make your stand out. Therefore, buyers will prefer to buy the other houses thinking that they will cost less than yours. It is also a universal rule in the real estate circles that buyers seek to buy an affordable home in a classy neighbourhood.

Read the Full Story Here! - http://theballengroup.realtytimes.com/advicefromagents1/item/37706-6-mistakes-to-avoid-when-selling-a-house

THE BENEFITS OF OWNING YOUR OWN HOME-

Aside from the non-tangible benefits of owning a house such as pride and security, there are a lot of financial benefits when it comes to owning your own home, and some of these financial benefits will be very useful when tax season draws near.
So what are these benefits?

It builds wealth over time
Our parents and their parents before them always believed that owning a house was one of the best financial investments possible, but with the recent housing bubble situation, not a whole lot of people believed in it anymore. So the new generation has to be slowly convinced that owning a home is indeed something that is beneficial – providing that you buy a home that you can afford.

Capital Gain Exclusion
If you have lived in your house for two of the past five years, you can be exempted up to $250,000 for an individual and $500,000 for a married couple of profit from capital gains. The better news is you don’t need to buy a replacement home or move up. There is no age restriction and the over 55 rule doesn’t apply. You can exclude from the above thresholds every 24 months. What does this mean? This means that you could sell every two years if you want, and pocket your profit (subject of course to limitation), free from taxation. Ka ching!

Read The Full Story Here! - http://kennethjohnson.realtytimes.com/advicefromagents1/item/37594-the-benefits-of-owning-your-own-home

WHY HIRING A REALTOR SAVES YOU TIME, MONEY AND STRESS-

It would seem that home buyers and home sellers alike have, at one time or another, felt as though they may be able to tackle the process of purchasing or selling their home without the assistance of the realtor. The main purpose behind this is to save on the fee associated with employing a realtor, but in the end, these valiant efforts end in ruin as more time is taken, more costs is incurred, and more stress is involved.

Why Hiring a Realtor Saves You Time
Time is perhaps our most precious asset amidst today’s busy schedules, hectic lifestyles, and overtaxed workloads. So taking away from your limited free time by painstakingly searching through listing after listing of properties, followed by setting up viewings, does not a happy human make.
Alternately, you and your realtor can collectively come up with a list of primary desires you are looking for in a home, and have him or her spearhead your search, narrowing down your options to a fine science of specifically selected homes within your realm of expectations.

Why Hiring a Realtor Saves You Money
Time is money, so we already have a savings on that front with the aforementioned efforts. Aside from that, and perhaps even more importantly, a realtor has the knowledge necessary to understand fair market pricing, as well as the skills to negotiate on price (down for buying, up for selling), the ability recommend brokers or lending institutions that harness the best rates, and the know-how to manage your paperwork without errors or oversights that you might fall prey to without such extensive knowledge, adding to your error margins and cost within such errors.

Read the Full Story Here! - http://johndale.realtytimes.com/advicefromagents1/item/37558-why-hiring-a-realtor-saves-you-time-money-and-stress