Sixty Percent of All Homes are Bought & Sold…

According to Trulia, 60% of all home sales and purchases happen during the summer, and chances are good if you’ve been planning a move, you’re thinking summer as well. 

Take a peek at the calendar hanging in your kitchen or hiding on your phone and do a little quick math: if you are thinking about selling your home this summer, you’ve got about six weeks to prepare for listing your property, and you’ve probably got work to do. Don’t panic – I’ve done this before! If you’ll be listing this summer, you’ll want to get started on your to do list right away:

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  •  Repair It NOW – If you’ve been putting off maintenance or repairs of any sort on your home, complete those items before your home is listed for sale. If you put off repairs now you are simply giving your future buyers ammunition for the Home Inspection. In addition, obvious repairs are distracting during a home tour. Buyers won’t notice your upgraded kitchen cabinetry if the floor is in poor repair, and negatives like this can impact your selling price or the speed of the sale.
  • Declutter – Declutter – Declutter – Alright, so maybe your family isn’t ready to star in an episode of Hoarders – Buried Alive yet. Congratulations! But you’ve still got work to do! The buyer’s impression of the size and inherent value of your home will be impacted by the level of clutter versus tidy spaciousness inside. You’ll be moving soon anyway – take time now to ditch the “stuff” cluttering your space and store items you can live without until you move.
  • Don’t Get Too Personal –  Remember that great beach vacation three years ago? And your first family dog? And Grandma and Grandpa’s fiftieth wedding anniversary? You don’t have to – the pictures are all over your walls. What’s good for the resident goose is definitely NOT good for the home-buying gander. When your home is on the market, it is important that buyers are able to visualize making their own memories there. Don’t distract them with personal mementos and photographs – give them a clean, neutral space in which to imagine spending time with their own loved ones. And while you are packing up the family photos, take a moment to remove any overtly religious or political items from your home. The ideal buyer is financially qualified and able to negotiate agreeable terms with you, the seller – period. Don’t turn off potential buyers who may judge your home based on the philosophy or beliefs confronting them from every wall or bookshelf. Remove religious or political paraphernalia before your listing goes live.
  • Prepare for Pricing – In my experience sellers rely on one of two very different pricing methods for their home: The Best Guess Method (typically based on how much the seller wants to profit rather than statistical reality) and the Rely on a Realtor Method. If you’ve chatted with your neighbors, picked up local fliers, and decided you’d like to come ahead about $35,000 in order to make a down payment on your next home purchase – so you think you should price your home XXXX – you are lacking vital information! Real Estate, like medicine or law, is a practice; while practice doesn’t necessarily make perfect, a Realtor with a lot of practice under his or her belt will be a trusted ally in the sale of your home. For an experienced Realtor, crafting an expert Current Market Analysis or “CMA” of your home, including comparable properties which have actually sold, is an art form. Far from an “educated guess,” pricing your home requires a significant analysis of many parameters including location, amenities, age and condition of the home, and more. Sophisticated software is often used to determine an appropriate price range, and all of the variables and information plugged into a program of this nature is meticulously researched by your Realtor.

If you are planning to sell this summer, you’ve got about six weeks, and those weeks count! Call me today to start the process of preparing for the successful sale of your home. I’m here to help.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate

A Little Sunshine for your Rainy Day

It’s chilly, windy, and feeling every bit April here in the Metro Denver area tonight, but at least it isn’t snowing!

 

For those of you longing for a sunny escape, I’ve provided a few links to private islands currently available for purchase. And for the rest of us, I’m happy to help you find a shelter from the storm right here in Colorado. It might be cold and rainy now, but on average, we see sunshine 69% of the time here in the Mile High City. It’s not tropical, but for those of us who love living in Colorado, it’s our kind of paradise.

 

Little Monkey Caye (*monkeys not included) – the cheapest island for sale in the Caribbean at $55,000

Picnic Island in Michigan features a chalet style cabin and great sport fishing opportunities for $385k

Island of Sirene (Island of Sirens) is a little less than an acre of dirt + trees available off the coast of Sicily – currently priced at 2.3 million Euros (that’s $3,181,820 for those of us stateside), the price on this egg-shaped islet is negotiable.

Dumunpalit Island in the Philippines offers 75 beautiful acres surrounded by coral reefs and features 200 feet of pristine white sand beach for $3.4 million bucks.

Crescent Island in San Carlos Bay, Florida is up for auction online right now! Last listed for $1.95 million, the island features a four level, deck-topped pool home – just in case the ocean outside your door grows tiresome.

 

Whether you are seeking help with the purchase of your next island (I give great referrals!) or looking for a retreat right here in Colorado, I can help with that. Let’s get together – I’ll bring my umbrella.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate

Happy Tax Day!

It’s that time of year again. For those of you feeling blind sided, just think – after tomorrow at midnight you’ll have another whole year before you have to deal with this again.

Congratulations to the homeowners among you! Whether you own a manse or a one bedroom apartment, a rental property or a vacation home – you are reaping one of the many benefits of home ownership: namely, tax benefits!

WAIT FOR IT>>>>>>

One of my favorite benefits for homeowners happens right up front. When you purchase a home, your loan discount points and loan origination fees, commonly known as “closing costs,” are tax deductible – NO MATTER WHO PAYS THESE FEES. You read that right – if your awesome Realtor negotiated that the seller paid closing fees, you still get to deduct them on your taxes. So pull out that three-foot-pile of paperwork from your closing and look for lines 801 and 802 of your settlement statement. Today, my friends, could be your lucky day!

The most basic deduction – Mortgage Interest – benefits anyone who owns property and paid either:
1. interest on the mortgage of the property or
2. interest on a loan of up to 100,000 against your property (a home equity loan.)

This last one is going to feel too good to be true, and you’ll wonder why you didn’t know about this. In fact, you might call me RIGHT AWAY to find out how to get in on this. If you have owned a property and occupied it as your principle residence for two of the last five years, and you sell the property, you are in for a sweet benefit:
Married couples can earn up to $500k on the sale of their home without incurring income tax liability.
Singletons can earn up to $250k on the sale of their home without incurring income tax liability.
*So basically – you can make serious dough fixing up a house and living in it for at least a couple of years, and ALL OF THAT MONEY – every red cent up to half a mil for married couples, 1/4 mil for singles, is YOURS ALL YOURS.

And you thought you hated tax day!!

If you want to keep more of your own money and you are thinking about buying/selling/investing – drop a line. I’m here to help.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate