Realty Vision


Posted by Realty Vision on 8/4/2016

You've officially added your home to the real estate market; now, you just need to generate interest among family members, friends and others who may consider purchasing your house. Fortunately, there are many great ways to share an online home listing with others, including: 1. Facebook As soon as your home listing becomes available online, feel free to share it via Facebook, a leading social network among men and women of all ages. Sharing a link to your home listing via Facebook enables you to provide information about your residence to friends and family members instantly. Plus, Facebook enables your friends and family members to share your post with others, further increasing your reach. Don't be afraid to include high-resolution photos with your Facebook posts, too. This will improve your chances that your Facebook posts will be noticed, and ultimately, could help you garner attention from prospective homebuyers. Also, each Facebook post should consist of one to two sentences. Ensure that each Facebook post is easy to understand and encourages readers to click on the link to view your home listing, and you may find that a large variety of homebuyers could become interested in your residence. 2. Twitter With only 140 characters at your disposal, sharing information about your house via Twitter may seem nearly impossible. However, those who understand what it takes to put together a great tweet could generate significant interest in their homes by using this social media platform. Typically, a great Twitter post should include a brief description that explains your home is now available. You also may want to highlight one feature of your home (like the style of your house, where it is located or the number of bedrooms it offers) and include a call to action that encourages readers to click on the link to view your home listing. Like a Facebook post, you will want to incorporate a high-resolution image into your tweet as well. Remember, a picture is worth a thousand words, and a first-rate picture of your home's exterior may encourage dozens of interested homebuyers to evaluate your home listing. 3. Email Have friends and family members who shy away from social media? No worries, as you can send them a link to your online home listing any time you choose. If you send an email to a friend or family member, be sure to include a clear, concise subject line. This will allow you to minimize the risk that your message could wind up in a recipient's junk email folder. Furthermore, be sure to include your real estate agent's contact information in your email. Because if a homebuyer knows how to reach your real estate agent, he or she can contact this real estate professional to set up a home showing immediately. An online home listing increases your house's visibility. And if you share your online home listing with others, you may be able to increase interest in your home accelerate the home selling process.





Posted by Realty Vision on 12/24/2015

A common question for sellers is if they will owe capital gains tax when they sell their home. The answer to that question: it depends. The capital gains tax law known as the Taxpayer Relief Act went into effect in 1997 but there is still a lot confusion over who pays what and why. If you sell your home you will not have to pay capital gains tax if:

  • You are selling your personal residence.
  • You have $250,000 in profit or less if you are single and $500,000 if married.
  • You have lived in your home for two of the last five years.
  • The home is not an investment property.
The capital gains exclusion can be used as many times as you like as long as it meets all of the above criteria. If you are going to make more than $250,000/$500,000 in profit you will be taxed at a 20% capital gains tax rate on the amount over the $250,000/$500,000 threshold. There are exceptions to the rule. You may be eligible for a tax break if:
  • You need to sell your home because a change in health.
  • You need to sell your home because of a long distance relocation.
  • You are in the armed services and moved to fulfill your service commitments.
Your individual tax situation may be different, so make sure to consult a qualified tax accountant or attorney.  





Posted by Realty Vision on 5/21/2015

1. Basing the asking price on needs or emotion rather than market value. Many times sellers base their pricing on how much they paid for or invested in their home. This can be an expensive mistake. If your home is not priced competitively, buyers will reject it in favor of other larger homes for the same price. At the same time, the buyers who should be looking at your house will not see it because it is priced over their heads. The result is increased market time, and even when the price is eventually lowered, the buyers are wary because "nobody wants to buy real estate that nobody else wants". The result is low priced offers and an unwillingness to negotiate. Every seller wants to realize as much money as possible from the sale, but a listing priced too high often eventually sells for less than market value. An accurate market evaluation is the first step in determining a competitive listing price. 2. Failing to "Showcase" the home. A property that is not clean or well-maintained is a red flag for the buyer. It is an indication that there may be hidden defects that will result in increased cost of ownership. Sellers who fail to make necessary repairs, which don't “spruce up” the house inside and out, and fail to keep it clean and neat, chase away buyers as fast as REALTORS® can bring them. Buyers are poor judges of the cost of repairs, and always build in a large margin for error when offering on such a property. Sellers are always better off doing the work themselves ahead of time. 3. Over-improving the home prior to selling. Sellers often unwittingly spend thousands of dollars doing the wrong upgrades to their home prior to attempting to sell in the mistaken belief that they will recoup this cost. If you are upgrading your home for your personal enjoyment - fine. But if you are thinking of selling, you should be aware that only certain upgrades to real estate are cost effective. Always consult with your REALTOR® BEFORE committing to upgrading your home. 4. Choosing the wrong REALTOR® or choosing for the wrong reasons. Many homeowners list with the real estate agent who tells them the highest price. You need to choose an experienced agent with the best marketing plan to sell your home. In the real estate business, an agent with many successfully closed transactions usually costs the same as someone who is inexperienced. That experience could mean a higher price at the negotiating table, selling in less time, and with a minimum amount of hassles. 5. Using the "Hard Sell" during showings. Buying a home is an emotional decision. Buyers like to "try on" a house and see if it is comfortable for them. It is difficult for them to do if you follow them around pointing out every improvement that you made. Good REALTORS® let the buyers discover the home on their own, pointing out only features they are sure are important to them. Overselling loses many sales. If buyers think they are paying for features that are not particularly important to them personally, they will reject the home in favor of a less expensive home without the features. 6. Failing to take the first offer seriously. Often sellers believe that the first offer received will be one of many to come. There is a tendency to not take it seriously, and to hold out for a higher price. This is especially true if the offer comes in soon after the home is placed on the market. Experienced REALTORS® know that more often than not the first buyer ends up being the best buyer, and many, many sellers have had to accept far less money than the initial offer later in the selling process. Real estate is most sale-able early in the marketing period, and the amount buyers are willing to pay diminishes with the length of time a property has been on the market. Many sellers would give anything to find that prospective buyer who made the first, and ONLY, offer. 7. Not knowing your rights and obligations. The contract you sign to sell your property is a complex and legally binding document. An improperly written contract can allow the purchaser to void the sale, or cost you thousands of unnecessary dollars. Have an experienced REALTOR® who knows the "ins and outs" fully explain the contract you are about to sign. 8. Failure to effectively market the property. Good marketing opens the door that exposes real estate to the marketplace. It means distinguishing your home from hundreds of others on the market. It also means selling the benefits, as well as the features. The right REALTOR® will employ a wide variety of marketing activities, emphasizing the ones believed to work best for your home.





Posted by Realty Vision on 5/15/2014

Whether you are a buyer or a seller it is time to get off the fence. Despite years of bad news surrounding the real estate market, the time has come when it is both a good time to be a buyer and a seller. Why Buy? Here are just a few reasons why you should get off the fence and buy: 1. When investors start gobbling up real estate you know it's a good deal. In 2011, investors upped their buying by 64%.  While it is still not time to start flipping for a profit the clock is ticking down to an uptick in prices. 2. Interest rates are historically low. You have been hearing this for a while but they are hovering right around 4%. 3. First-time buyers are in a unique position. They didn't lose money in the housing market. 4. It's a great deal! Prices are at all-time lows. So you may be saving as much as 40% off a home if you buy now. Why Sell? Here are just a few reasons why you should get off the fence and sell: 1. Inventory is shrinking. Demand is up and in certain areas and price ranges there is limited inventory so putting your home on the market now will most likely result in a sale. 2. Mortgage availability has stabilized. Mortgage restrictions are loosening and especially first-time buyers are able to get mortgages as they were not affected as much by the financial crisis. 3. Unemployment is not as bad as you think. One is 30 Americans is unemployed as a result of the recent financial crisis. There are lots of able buyers out there. 4. Houses are selling and some are even going to bidding wars. Homes that are priced according to the market are selling and selling quickly. 5. Don't wait for prices to increase. This could be a long wait.





Posted by Realty Vision on 3/20/2014

What do buyers want in a home? Is it location? Is it size? Could it be an endless list of amenities ? According to a survey done by The National Association of Homebuilders, they want all of the above. According to the survey, buyers say they want a home that is approximately 2,000 square feet. Unfortunately, only one-third of the current homes on the market have 2,000 or more square feet of livable space. Most homes are nearly 40 years old and don't have many of the amenities buyers want. So what is a seller to do? If your home is smaller than what most buyers want, play up on your homes good points. Here are some other features buyers want that could help overcome the objection to the homes smaller square footage. Location: Buyers may consider a smaller home if it's located in the best school district or in a great commuter location. Possibilities: A smaller home may have potential for expansion, making the home suddenly more appealing. Great space: The home may not have the square footage buyers want, so show off the space it does have. Remove any furniture that doesn't complement the home, making the home seem spacious and uncluttered. If your home is smaller than what many buyers want, emphasize the amenities that it does have. Help buyers see the potential in your home. Don't let them rule it out just because its current condition doesn't meet all of their needs.    







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