Contrast in Styles

As a realtor I'm always fascinated by the geographic differences in housing styles, construction and landscaping. Here's a traditional Sante Fe style home that is located in Tucson, AZ.

A Different Perspective

Sometimes we just need to clear the cobwebs.

I'm doing that myself this week.

Just sharing a view we don't get back in snowy cold, south central PA this time of year.

Are you ready? Is your home ready? Use these simple staging tips to maximize the visual and emotional appeal to buyers.

Make the entrance inviting - Replace or thoroughly clean front door hardware. Add a fresh seagrass welcome mat and seasonal potted plants around the front entry.

Create a pleasant, fresh smell - Unpleasant pet, smoke and cooking odors can leave a bad impression on buyers. Spray (don't overspray) a light, clean air freshener throughout the home.

Clean the house thoroughly - With a little elbow grease, you can make the whole house sparkle. Pay close attention to bathroom and lighting fixtures, appliances and windows.

Clear away clutter - Put away anything that could distract the buyer. Clear away excess furniture to maximize available space. Don't forget that the garage, attic and basement should be neat and clean too!

Let natural light in - Create light, airy living rooms by pulling back curtains and opening blinds. Light-colored wall paint and a few lamps can help brighten the space.

The First Time Buyer's Tax Credit Clock Is Ticking

First-time homebuyers should begin planning now to take advantage of the tax credit included in the recently enacted Housing and Economic Recovery Act of 2008.

Available for a limited time only, the credit:

• Applies to home purchases after April 8, 2008, and before July 1, 2009.
• Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning that the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax that they owe.

However, the credit operates much like an interest-free loan, because it must be repaid over a 15-year period. So, for example, an eligible taxpayer who buys a home today and properly claims the maximum available credit of $7,500 on his or her 2008 federal income tax return must begin repaying the credit by including one-fifteenth of this amount, or $500, as an additional tax on his or her 2010 return.

Q. How much is the credit?

A. The credit is 10 percent of the purchase price of the home, with a maximum available credit of $7,500 for either a single taxpayer or a married couple filing jointly. The limit is $3,750 for a married person filing a separate return. In most cases, the full credit will be available for homes costing $75,000 or more. Whatever the size of the credit a taxpayer receives, the credit must be repaid over a 15-year period.

Q. Are there income limits?

A. Yes. The credit is reduced or eliminated for higher-income taxpayers.
The credit is phased out based on your modified adjusted gross income (MAGI). MAGI is your adjusted gross income plus various amounts excluded from income—for example, certain foreign income. For a married couple filing a joint return, the phase-out range is $150,000 to $170,000. For other taxpayers, the phase-out range is $75,000 to $95,000.
This means the full credit is available for married couples filing a joint return whose MAGI is $150,000 or less and for other taxpayers whose MAGI is $75,000 or less.

But remember, settlement on the purchase of the house must occur before July 1, 2009 to qualify.

For more details on this program, check out the IRS website at: http://www.irs.gov/newsroom/article/0,,id=186831,00.html

My House Is Worth More Than That

The listing price is perhaps the most important factor in how quickly a home will sell.

If your home is priced "right", you’re much more likely to succeed in selling your property. Get pricing wrong, on the other hand, and you'll suffer the consequences from all sides: prospective buyers will skip your home, you will be upset, and the home will stagnate on the market.

Your best bet is to engage a Realtor to conduct a competitive market analysis (CMA) on your behalf. Once you have "facts" on the current market in front of you, you can make the important decision on setting the "right" price.

(excerpted from REALTOR magazine)