Home Selling Info & Tips

Post Dispatch Features CBG President’s details on Tax Credit Deadline

Tax Credit Deadline – April 30, 2010

Ask the expert: Jim Dohr, president, Coldwell Banker Gundaker

ST. LOUIS POST-DISPATCH

04/23/2010

With the federal tax credit for first-time home buyers expiring this month, what should homeowners do quickly to prepare their houses to make them stand out to people taking advantage of the credit?

Selling in today’s market can be intimidating, especially for those who have outgrown their starter home and are ready to sell for the first time. A likely market for such homes is comprised of first-time buyers who hope to have a house under contract before the tax credit expires next Friday.

A crucial step first-time sellers must take is completion of needed repairs. Take the time to make the glaring as well as minor improvements a home needs to make it ready to sell. Having a pre-inspection done could avoid any last-second surprises when a potential buyer has an inspection done.

Price to sell. Gauging a home’s value is different now. A real estate agent will pinpoint a home’s market value based on its features, location and comparable listings in the area. Setting the price too high can leave a home languishing on the market. A too-low price will deprive the seller of well-earned equity.
Be patient. Once a home is listed, the temptation is to hope every looker is the buyer. Even with the tax credit set to expire, the seller’s agent needs time to allow a potential buyer room to make a decision.

Still, with only a week until the $8,000 first-time home buyer and the $6,500 existing homeowner buyer credits expire, time is running out on opportunities that may never be repeated.

For buyers to be in a binding sales contract by April 30, they need to act almost immediately. That means this is also a prime opportunity for sellers.

Simple Green Ideas for Your Lawn

We spend lots of time, energy and money making our lawns beautiful and userfriendly.

Here are some tips for making them environmentally friendly as well.

1. Mulch Your Grass Clippings when possible – Grass clippings contain valuable nutrients taken right out of your soil. So isn’t it odd that we gather our grass clippings in bags and ship them off to a land fill somewhere on the other side of the county?

Did you know that mulching your grass and leaves can save you as many as two fertilizer applications every year? Most lawn mowers come with a mulching blade that chops grass and leaves into small pieces and deposits them right back into the lawn.

Mulched leaves – especially sugar and red maple leaves – provide a degree of natural weed control when mulched into the lawn. Sometimes it is not practical to mulch your leaves because you have too many of them. But often it is – and it helps your lawn too!

2. Plant trees, shrubs and flowers – You know that trees are good for the environment. They help clean the air, return moisture to the air and provide shade from the hot sun. Shrubs, flowers and bushes also have many benefits other than just adding beauty. They help stimulate the soil, add bio-diversity to your yard, and attract birds and other wildlife.

3. Use Fertilizer Wisely – Synthetic fertilizers almost always contain nitrogen and phosphorous. Nitrogen is what your grass needs for healthy growth. Much of your lawn’s nitrogen requirements can be supplied by mulching your grass each time you mow it.

Phosophorous (the second number) is usually unnecessary for healthy lawns, and it has some negative effects on the environment. Phosphorous that ends up in our rivers, lakes and ponds stimulates plant growth which disrupts the habitat of fish and other water life. Look for a fertilizer than has “0″ phosophorous.

Organic fertilizers may actually contain more phosophorus than synthetic ones, so read the label carefully.

FREE Landscape Seminar!

Learn from the Pros! 

Join us for a FREE Landscape Seminar on March 18^th from 5:30 – 7:30 PM

Place:  The Lodge of Des Peres - 1050 Des Peres Road 63131

Our keynote speaker will present topics for both the novice and expert gardener.

In this session you’ll learn:

• Tricks to spruce up your yard (perfect for home sellers)
• Transform your yard into a beautiful paradise (at an affordable price)

Seating is limited so please RSVP as soon as possible to:

Mary Ann – 314-852-8773

See you there!

Stop Double Taxation in Missouri – Protect Our Homes

There is a bill concerning future homeownership that I wanted you to be aware of.  Congress is trying to get us to pass a bill using a double negative format.  In other words, vote YES to say NO to this critical tax increase. 

If this bill passes, there will be a 4% tax to sellers who have sold their home.  This sill have a huge impact on the housing market and will make us take a step backward, not forward. 

Please pass this along to everyone on your list – together we stand strong and will not allow this to happen! 

Find out more here:  http://www.yestosavehomes.com/ 

Join Us Today 

Join with thousands of other Missouri residents and sign our pledge today to help mobilize friends and colleagues in support of a ballot initiative in 2010 to protect your property from a real estate transfer tax.

A real estate transfer tax :

• is a form of double taxation;
• lowers homeowner equity;
• negatively impacts the process of buying and selling a home; and
• unfairly targets property owners and lower income residents alike.

We need your vote!  There is a Constitutional Amendment on the November 2010 ballot in the State of Missouri that will prevent the State, Counties and other political subdivisions from imposing any new taxes on the sale or transfer of homes or any other real estate.

A yes vote means NO TO TAXES! 

Find out more here:  http://www.yestosavehomes.com/

Energy Saving Tips

One of the most obvious areas where a homeowner can go “green” is in the use of energy in the home. The biggest energy hogs are heating, air conditioning, electrical appliances, lighting, and water usage. Here are some practical tips for saving energy and money at the same time.

1. Do an “energy audit” – A good place to start is with an informal energy “audit” to reveal where you are using the most energy and where you are wasting it. The average US home uses 31% of its energy consumption on heating, 12% on cooling, 12% on water heating, and 29% on appliances, lighting, and electronics such as TVs and computers. So these are obvious places you can cut back.

2. Insulate, insulate, insulate – If 43% of the energy used in our homes goes for heating and cooling this is the place to start. Insulation in your attic, outside walls and basement walls is critical. New products such as blown in insulation have made it easier to insulate previously difficult areas. But be careful to get professional advice before tackling a project like this yourself.

3. Seal doors and windows – Usually the worst areas of heat loss are windows and doors. Check for holes or cracks around your walls, ceilings, windows, doors, light and plumbing fixtures, switches, and electrical outlets. All of these can leak air into or out of your home. Have a professional take a look at your home and make some recommendations.

4. Turn the heat down – Wear warmer clothes and shoes in the winter so your house feels warmer. Then turn your thermostat down a few degrees. Set it to automatically lower the temperature at night. You’ll save a lot of energy and you’ll probably get fewer colds too.

5. Use less hot water – Be sure to have a highly efficient hot water heater. In some climates a tankless water heater may save energy, but research it thoroughly. Then study your hot water usage carefully. You may want to turn the temperature of your hot water heater down a bit. Consider replacing some appliances with more efficient ones. Use warm rather than hot water for washing clothes. Don’t use the dishwasher for partial loads, shower for shorter periods of time, and don’t let the hot water run when washing or shaving.

4. Turn off appliances and lights – When appliances are not being used they should be turned off or even unplugged (because many appliances use electricity even when they are not on). Set the energy saving features of your computer to shut down monitors and hard drives when not in use. Or turn your computers right off if not being used for an extended period of time.

5. Control your lighting – About 11% of the average home’s energy usage goes to lighting, so this is an obvious area for significant savings. Replacing old incandescent light bulbs with compact fluorescent light bulbs (CFLs) will save between 50 and 75% per bulb. And turning lights off when they are not required will (obviously) save even more.

Top 9 Reasons NOW is the Best Time to List Your Home

Most information you see around this time of the year is that the real estate market slows down during the holidays or over the colder months.  I have found that activity is much more focused during this time, which creates some distinct advantages for both buyers and especially for sellers. 

Here are my Top 9 Reasons to List Your Home NOW! 

1.     Fewer homes are on the market, so you’re not competing with as many other available homes.

2.     Many times you can get a better sale price for your home because there are less homes on the market.

3.     Buyers have shorter work schedules and more available times to look for homes.

4.     Homes ‘show’ better with the warmth of homes during the colder months.

5.     The Laura MacDonald Team are experts at helping you stage your home to get buyers emotionally attached.

6.     Buyers are more focused and serious on making a decision more quickly.

7.     Many relocation and transfer buyers traditionally come into the market in January, ready to purchase their new home.

8.     A good agent will be able to manage showings so as not to disturb you during family events.

9.     Get more for your home by listing with The Laura MacDonald Team – Our sale to list price ratio is a whopping 97.85%.

Free Seminar on Tax Credits and Lending Changes

Confused by the Tax Credit Options for Home Buying? 

Join us at The Lodge at Des Peres (12325 Manchester Rd., 63131) on Thursday, February 25, 2010 from 5:30 – 7:30 PM for this FREE and interactive seminar where you’ll learn: 

• How to qualify for the Extended Tax Credit of up to $8,000 for First Time Buyers
• $6,500 Tax Credit for ‘Move-up’ Buyers
• Lender changes affecting your loans

Hosted by:  The Laura MacDonald Team http://www.thelauramacdonaldteam.com, and 

 Joe Lager, VP of Pulaski Bank http://www.pulaskibankstl.com 

Space is limited and registration is required.  Call 314-605-2896 TODAY to register!

Free Seminar on Home Improvements

How to Build Value in Your Home!

Join us at The Lodge at Des Peres (12325 Manchester Rd., 63131) on Thursday, January 21, 2010 from 5:30 – 7:30 PM for this FREE and informative seminar where you’ll learn:

• Tips on home updates
• Home improvements that build value in your home
• Color transforamtions for your home
• Discover if the time is right, or not, to consider a move

There will be door prizes and a chance to win a FREE Home Color Transformation (a $300 value).

Sponsored by:  The Laura MacDonald Team http://www.thelauramacdonaldteam.com and

The Design Source Limited http://www.thedesignsourceltd.com/new/index.html

Space is limited and registration is required.  Call 314-605-2896 TODAY to register!

Shopping Tips When Using the Internet

More holiday shopping is handled online each year.  You still need to be careful for online scams, but we wanted to share some of our Internet shopping tips that may help you have a more pleasurable experience. 

1. Make sure that your anti-virus, spyware, and malware software is up-to-date (and if you don’t have any, there are plenty of FREE options available).  Make certain that it will protect your Internet browser experience.
2. Instead of using links in marketing emails, go directly to the vendor’s website.  There are plenty of spammers out there that are smart enough to make the landing pages look exactly like the vendors they are scamming.  If it looks suspicious, or too good to be true, it probably is.
3. Check the vendor’s privacy policies, return policies, and for any checked boxes that may indicate that you will receive marketing emails from their vendors or partners.
4. When going through the shopping cart system, check your browser to see that there is a gold lock graphic at the bottom right of the screen.  If the vendor does not display this lock, it’s very possible that your credit card information is open to the Internet.
5. Make sure that even if the vendor indicates that a receipt will be emailed to you, print the transaction page so that you have a record of what you ordered as well as any pricing or description of the items you purchased is clearly stated.
6. If at all possible, use one credit card for ALL your online purchases.  In that way if your account information has been captured, you will only need to cancel one specific card.
7. Check delivery dates and guarantees.  Especially when purchasing for the holidays, make sure that you won’t be chasing down packages or finding out it’s not even shipping in time for holiday delivery. 

Here are some of my favorite FREE options to help you protect your information and make for a more pleasurable shopping experience. 

Anti-virus – www.avg.com

Spyware – www.spybot.com

Malware – www.malwarebytes.org   

If you or someone you know is looking to buy or sell a home, we would love the opportunity to serve!

President Signs Bill to Expand and Extend Homebuyer Tax Credit

Yesterday, the U.S. Senate and House of Representatives passed an unemployment insurance bill, which includes an amendment that expands and extends the homebuyer tax credit. That bill will be sent to President Obama for his signature in the next day or so. I have included below the news release NAR issued on this issue, as well as comparison chart and some FAQs on the tax credit that can be a helpful resource as you work with buyers to take advantage of the credit in the coming months. 

In addition, NAR President Charles McMillan has just issued a special edition of the President’s Podcast on the homebuyer tax credit. You can access his podcast by visiting http://www.realtor.org/about_nar/presidents_report/_podcast_archive/mcmillan_taxcreditextended_20091105.

This is an historic moment for our industry as well as the culmination of more than a year’s worth of hard work and meetings with elected officials and policy makers on the part of Realogy management. Our voices were heard in Washington, D.C., and we should be proud that our government is taking strong action to help our industry and the economy. Having an extended and expanded Homebuyer Tax Credit available to qualified homebuyers through the first half of 2010 undoubtedly will benefit our business and the U.S. economy. 

Tax Credit Extension a Positive Step Toward Sustained Real Estate Recovery, Say Realtors® 

WASHINGTON (November 5, 2009) – The National Association of Realtors® today commended the U.S. Senate and House of Representatives for passing a bill that includes an extension and expansion of the current home buyer tax credit as an important step in ensuring a real estate and economic recovery.   

“Realtors® appreciate the swift action by Congress to extend the home buyer tax credit and expand it to some current homeowners,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Real Estate in Dallas-Fort Worth. “As the leading advocate of housing and real estate issues, we urge President Obama to sign this legislation into law quickly to keep the momentum going in the fragile recovery of the nation’s housing market.” 

McMillan praised the efforts of several senators to put the recovery above politics. They are Sen. Johnny Isakson, (R-Ga.); Senate Majority Leader Harry Reid (D-Nev.); Finance Committee Chairman Max Baucus (D-Mont.); Sen. Chris Dodd (D-Conn.), chairman of the Banking, Housing and Urban Affairs Committee; and Sen. Joe Lieberman (I-Conn.), chairman of the Homeland Security and Governmental Affairs Committee. 

NAR economists estimate that the current tax credit has contributed approximately $22 billion to the general economy, and approximately 2 million people will take advantage of the tax credit this year. 

“The substantial rise in home sales we’ve seen over the past few months proves that the tax credit is working and is being used by buyers who were waiting for the right opportunity to get into the market,” McMillan said.  “This important incentive is helping to stabilize the housing market, stimulate the economy and create new jobs in communities all across our great nation.  Extending and expanding the home buyer tax credit will enable even more families to take advantage of current low interest rates and affordable prices to invest in their future through homeownership.” 

The bill would extend the present $8,000 tax credit for first-time home buyers through April 30, 2010. Current homeowners are eligible for a $6,500 tax credit through April 30, provided they have lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years. If potential home buyers have a binding contract on or before that date, they will have until July 1 to close the transaction. 

Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000.  To help guard against fraud, buyers are required to attach documentation of purchase to their tax return. 

Detailed information about provisions in the tax credit legislation is available on Realtor.org.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

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Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section.

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