The Creampuff Principle Multiple offers are back in many areas. As a buyer or a seller, adjusting your strategy to account for this increased competition will behoove you. One phenomenon that we see in a market environment like this is one that pertains to timing and market condition. It goes something like this: Wednesday-Friday morning – many new listings come on the market Thursday-Monday – lots of showings, pre-inspections, etc Monday-Wednesday – Offers are reviewed And the whole process starts over again the following week. However, not everything from the previous week sold. Why? The Cr ..read more

Top 10 Predictions for 2024  1 Still no housing bubble This was number one on my list last year and, so far, my forecast was spot on. The reason why I’m calling it out again is because the market performed better in 2023 than I expected. Continued price growth, combined with significantly higher mortgage rates, might suggest to some that the market will implode in 2024, but I find this implausible.  2 Mortgage rates will drop, but not quickly The U.S. economy has been remarkably resilient, which has led the Federal Reserve to indicate that they will keep mortgage rates higher for lon ..read more

Ever wondered about the tax implications of inheriting a property? If you're concerned about heavy tax burdens upon inheriting a home, you can often rely on the 'step-up basis' principle to lessen your financial strain. The 'step-up basis' principle recalibrates the value of the inherited property, essentially resetting the value of the asset. For instance, consider Jack who bought a home in 1980 for $50,000. By 2019, Jack's demise leads to his daughter, Jill, inheriting the property, which by then has appreciated to a fair market value of $509,000. So, does Jill have to pay capital gains tax ..read more

Getting a mortgage often comes with a lot of documentation. Some forms borrowers may be familiar with, while others will be new. Since the buying process involves a significant amount of document review, borrowers should understand the types of forms they are likely to see. Documents may vary based on the type of loan and the verification of income and assets that borrowers are able to provide. By learning more about the various document types and what to do when information is missing or incorrect, homebuyers can become better participants in the mortgage process. Keep reading to learn more a ..read more

Although being at home feels safe and secure, many residences may have unknown safety hazards. The majority of those issues can easily be fixed in just a few minutes. However, that's only if everyone knows what to look for as they survey the safety of their homes. The following information aims to help by highlighting the most common safety hazards found in residences. 1. Loose Rugs and Handrails Out of all the accidents that can happen at home, falls are the most common. Many times, the problem comes down to loose rugs and handrails along walking paths. To remedy this issue, it's importa ..read more

Some home renovation projects are aesthetically pleasing, but may not offer much of a return. However, there are homeowners who look for the best value in their home renovation projects. They want a home that meets the needs of their lifestyle and the members of their household, while also recouping the cost of the renovations when it comes time to sell. This is where smart technology and home automation provides the edge. There are instances when a homeowner can get back more than 50 percent of their investment with smart technology. Any estimates of the ROI on any upgrade or addition of tech ..read more

Home security can help people protect their most important investment: their house. A good home security system can prevent a distressing thing from occurring in a home and may also reduce a home's insurance rates. Before someone can buy a good system, they should know their own needs and decide which system fits in their budget. What's Your Home Security System Budget? Different home security systems range in cost. Some home security systems (professionally monitored systems) incur an ongoing cost. Homeowners who prefer a professional home monitoring system should determine their normal expen ..read more

Highways, bus routes, rails: transit systems should be an important part of the decision-making process when buying a new home. Not only do residents need to consider their everyday commute, but also the necessary errands and recreational trips they'll need to make. Learn more about what home buyers should look for and how they can evaluate different transit systems. Consider Surrounding Locations It can be easy for home buyers to look past the challenges of a home when they first find a property they love. The lure of a gourmet kitchen or sparkling swimming pool can instantly seem much more i ..read more

No doubt about it, moving is a complicated process that's best started early. For those who have never undergone a major move before, breaking it down into steps can help make the overall process an easier one. Starting with decluttering the home and ending with the last-minute moving details like packing a go-bag, people can make their move less stressful and more successful. Six Months Out: Declutter Your Home The more stuff someone has to move, the more expensive the move will be. Decluttering makes packing easier and can also make the moving process more affordable by reducing the amount o ..read more

The down payment on a home is the largest expense for a new homeowner, and it is an important factor when they are speaking with different lenders. Whether a hopeful homebuyer has been saving for one year or 10, there are a number of down payment options available to them. Learn more about how down payments work and what criteria to use before deciding the structure of a loan. For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction. Down Payment Basics The down payment on a property is the homeowner's ..read more