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Don’t Delay….If you Have Been On the Fence about Buying

Buyers who have delayed purchasing a home due to concerns about what might happen to the tax laws affecting home ownership should feel comfortable about getting back in the market. The recent legislation passed by Congress and signed by the President continues to value homes as a favored investment.

For a summary of specific real estate provisions in the “Fiscal Cliff” bill, click here. NowLater

Whether the delayed purchase is for a home to live in as your principal residence or to use as rental property, taking action sooner is better than later.

Reasons to buy now:

  1. The house payment with taxes and insurance is probably cheaper than the rent.
  2. Rents will continue to rise making the difference even greater in the future.
  3. Lock-in the principal & interest payment with a fixed-rate mortgage.
  4. 30 year mortgage terms are available to most borrowers.
  5. The mortgage interest deduction is intact for the majority of taxpayers.
  6. The capital gain exclusion for principal residences up to $500,000 remains in place.
  7. Prices are going up due to lower inventories and several years of low housing starts.

Contact me about any specific questions you have or information you need.

By |January 18th, 2013|Categories: Uncategorized|Tags: , |0 Comments

Home Warranty or Not when Selling or Buying

It’s common for sellers to consider offering and buyers might find it an incentive, but a growing number of homeowners are purchasing the home warranties themselves to limit the unexpected expenses of repairs and replacements.ProtectionPlan I have very simple common sense advise on these.  Definitely consider it for homes that are in the upper price ranges and definitely for homes that have heat pumps older than 5 to 10 years.

A home protection plan is a renewable service contract that covers the repair or replacement of many of the components in a home. Some homeowners especially like the convenience that it organizes a qualified service provider as well as the cost of the items.

There are a variety of companies that offer home warranties and the coverage may differ but the majority of things will include heating, air conditioning most built-in and some free-standing appliances, as well as other specific items. Additional specific coverage may be available for other things like pool and spa equipment.

Some investors are even placing this coverage on their rental properties to limit the amount of maintenance repairs during the year. It is a viable alternative to managing the financial risk and the stress dealing with unexpected expenses.

If you’re interested in home warranties, I’ll be happy to send you more information.

By |January 12th, 2013|Categories: Uncategorized|Tags: , |0 Comments
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