Sunday, February 26, 2006

I Can't Sell My Home - Now What?

There are lots of ways to sell a home that most agents don’t know about or will ever learn about. They will list your home, cross their fingers, and be happy if they sell the home. But you have already tried that agent. So now what? Talk to an agent in your area that specializes in expired and canceled listings. They may have options that you have never heard of or been offered. How about a Lease Option on a property you own? A lease option can greatly increase your chances on selling a property at a great profit. There is also the option of doing a seller carry back on a mortgage. Have you thought about a 3-2-1 buy down program for your home? (This is where the seller buys down the interest rate for the first 3 years of a home purchase for the buyer – saving them, sometimes, hundreds of dollars per month – while costing you less than paying for their closing costs) You could also offer a home warranty. This option only cost between $200 and $400 and greatly increases the buying decision between two homes. (I believe in this one so much I will buy it at my expense for my sellers.) There are literally 100’s of options for homes that don’t sell right away. Yes, sometimes it is price, but it could be the marketing plan. Is your home being marketed to the audience that needs to see it? You don’t want to be looking for a first time home buyer for a $1,000,000 property, and also you don’t want to market in Fortune 500 for a manufactured home. Both are great, but only to the correct buyer.


For more information on your home that didn’t sell feel free to call or e-mail me anytime.


Todd Clark – broker
Kastings & Associates
(503)524-9494
IFoundYourNewHome.com
YourLifetimeAgent@Yahoo.com

Monday, February 20, 2006

The Tax Man Cometh

So you are thinking of selling you home and you are worried about the tax implications. Well worry no more! The current tax law for the sale of your primary residence, after May 6, 1997, states that you can have up to $500,000 in capital gains for a married couple and $250,000 for a single person. So unless you are single and paid only $10,000 for your home and plan to sell it for $300,000 you don’t have too much to worry about.

One of the requirements of this tax law is that you must have lived in that home at lease 2 of the past 5 years. If you are a married couple and as long as at least one of the spouses meets this requirement then you are eligible for the exclusion.

These restrictions can be waived and your exclusion will be prorated if you are unable to meet the two year ownership and use requirement for any unforeseen circumstances; such as health or relocation of employment. (Check with the IRS for a complete list of eligible circumstances)

Todd Clark – broker
Kastings & Associates
(503)524-9494
IFoundYourNewHome.com
Todd@IFoundYourNewHome.com

Sunday, February 12, 2006

Insurance Renewal Time Already?

A lot of insurance companies have their renewal time at the beginning quarter of the year. As the bill gets bigger and bigger each year, you are wondering what to do to lower it.

Here are just a few suggestions:

  • Most people insure their home for the cost to buy a new home. When deciding how much to insure your home for, don’t include the value of the land. Only the cost of rebuilding.

  • Inquire about special discounts with your present insurer. Are you eligible for a long time customer discount? Can you get a discount for also having your automobile insurance with them? Do they offer a discount to you if you are over the age of 55?

  • Ask your employer if they offer a group coverage rate. Just like health insurance, some employers offer home and auto coverage at a discounted group rate.

  • Call around! Even through your present insurer may offer long term discounts, it still may be a far better value to go somewhere else.

  • Is your home safe? Ask you insurer to do an evaluation of your home and if they give a discount on insurance if this is done. (Smoke Detectors, Burglar Alarms, Carbon Monoxide Detectors)

  • Raise your deductible to $1,000 or maybe $2,000 if your insurer will let you. This maybe able to save you over 20% on your monthly payments.

Finally, review the insurance company’s financial rating. You want to hire a company that has an A+++ rating to insure that the company is strong enough, that if there should be a major disaster, that they will be able to pay your claim.

Todd Clark – broker
Kastings & Associates
(503)524-9494
IFoundYourNewHome.com
YourLifetimeAgent@Yahoo.com

Sunday, February 05, 2006

Investing In Your Future: The Safe Investment

     Did you know that in a recent survey seventy percent f Americans view home ownership as the smartest and safest investment you could make? Yet only ten percent felt that way about the stock market.

     More and more investors are leaving the stock market and going in to the investment property market. Why is this? One reason is that over the past 5 years stocks have risen in value at about a three percent increase per year. Compare that to the 14%-20% increase in the housing market. Now combine that with people buying that investment property and renting it out, and you have a huge profit machine.

     For example: Let us say you bought a $200,000 investment property and it was earning a modest 10% per year. Then, you were able to rent that property for $800 a month for that same year. After one year you would have a capital gain on the property of $20,000 + $9600 in rental income for a total of $29,600. Not many people would complain if their 401K was doing that well.

     Time is on your side! Most would be investors major concern is what if the housing bubble bursts? True, this can happen, but look at th1 1980 bubble burst with interest rates nearing 25% on a home loan. The people that held on to their properties that they bought in 1977 for $60,000 were able to make huge profits in the mid to late 80’s when the market recovered. In some cases, they sold the home that dropped in value in 1980 to only $45,000 for $150,000 in 1988 just because they didn’t panic and sell. Time is always on your side in real estate.

For more information on investing in real estate please feel free to call or e-mail me anytime.



Todd Clark – broker
Kastings & Associates
(503)524-9494
IFoundYourNewHome.com
YourLifetimeAgent@Yahoo.com

Thursday, February 02, 2006

Time To Clean Those Gutters

It is cold and wet outside. Welcome to the Pacific Northwest! You walk up to your house. It is pouring outside; you look up, and splash! You get drenched from your over flowing gutters. The gutter is not really there to keep you dry; its main purpose is to protect you home.

The gutter system is designed to direct water away from the wood work of you home and in to the drainage system. If it were not there, water would flow directly in to you home through small cracks in walls and continue on to the foundation. This could very quickly cause serious problems in your home such as dry rot; mold, and flooding. All of these are major issues that can occur if the gutters are not kept clean. To ensure proper drainage gutters should be cleaned 3-4 times a year. By doing this it will actually make it easier to clean each time. You can by an attachment for your hose for just a few dollars to help with this task.

If it is presently raining and you see water running over the gutters and or down the house, this is something you have to fix immediately. Also watch for puddles at the bottom of a drain spout this could also be a sign of improper drainage. The water should flow freely away from you home at all times, even in the heaviest of down pours. Yes it maybe raining and you could do it yourself. But if this isn’t what you have in mind as a fun Saturday afternoon, might I suggest you hire a professional to clean out the gutters? For just a couple hundred dollars, you could save your self thousands in home repair bills in the future.

Todd Clark – broker
Kastings & Associates
(503)524-9494
IFoundYourNewHome.com
YourLifetimeAgent@Yahoo.com