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What is the Interest write off deduction?

by Lamonte Williams

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What is the Interest write off deduction? Tax deductible interest is a borrowing expense that a taxpayer can claim on a federal or state tax return to reduce taxable income. Mortgage interest for both first and second (home equity) mortgages, mortgage interest for investment properties are among the list of deductions you can take on your taxes. This is another reason why owning a home is more favorable than renting. In addition to building equity in a home that you can call yours, you...

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Why landscaping can make your home sell faster and for more money

by Lamonte Williams

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Why landscaping can make your home sell faster and for more money Plain and simple, the quality of your landscaping determines whether or not your home feels inviting from the outside. Curb appeal is what people call it and it’s a key ingredient in the decision to buy a home to more than 71 percent of homebuyers. As you know, landscaping plays a huge role in the curb appeal that you present to prospective buyers for your home. The first impression is key: if buyers don’t like...

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Why you should make a list of the top 20 features you love about your home when selling?

by Lamonte Williams

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Why you should make a list of the top 20 features you love about your home when selling Who knows your home better than you? The short answer is: nobody. And because of that, you should take the time to make a list of the top 20 features you love about your home before you put it on the market. You see, if you like those things about your house, then so will someone else. And, in an effort to help your agent get your home sold faster and for more money, it will help if you point out...

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Marketing Strategies: Luxury homes vs average priced homes

by Lamonte Williams

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Marketing Strategies: Luxury homes vs average priced homes   As you can imagine, driving up demand for a luxury home takes a uniquely different approach than does selling a regular home. From the word go, you need a strong, clear and focused strategy that details how it will position your luxury home above the ordinary, illustrating and marketing its unique features in the proper manner to the perfect buyer at the perfect price. There are some very different ideas, thoughts and...

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I was asked: What are the consequences of making an offer on a house and then not closing?

by Ken Deshaies

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There are so many unanswered details in your question that any simple answer is really irrelevant. Making an offer does not bind you to anything if it is not accepted. An offer can only become a contract when all terms are accepted and both parties have signed the contract. Once you are under contract, you have several conditions to meet, such as obtaining financing or proving you have funds available to close the deal. These must all be met by deadlines spelled out in the offer. However, the contract...

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Whose name should be on a deed of property as a couple?

by Ken Deshaies

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Typically, it would be both people, but not always. For example, a “couple” could mean business partners, married couples, unmarried family couples (mother/daughter for example) or simply two people living and sharing together. But there are times that even that doesn’t determine. For example, I once represented a couple living together who wanted to purchase their first home together. The problem was that she had enough money in the bank for a down payment, but very...

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I bought a house with un-permitted updates. If I have them permitted, will it affect appraisal?

by Ken Deshaies

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I can think of three reasons to have the work permitted. First is if you have any qualms about whether the work done might possibly pose a health or safety concern for you and the other inhabitants of the home (family, friends, whatever). That could be an especially serious concern if electrical or plumbing were part of the additions. However, I question whether, when you purchased the home, the lack of permits was disclosed by the seller. Did you inquire as to the status? Did your agent or the inspector...

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Can I get out of my contract if the home I'm buying doesn't appraise for the agreed upon price?

by Ken Deshaies

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In most cases, yes. There is a standard contingency in most typical contracts that basically says that if the appraisal comes in at less than the offering contract price, the buyer has the right to either (a) negotiate with the seller to reduce the price to the appraisal, or (b) cancel the contract. There are, however, some exceptions. In a strong seller’s market, sellers may require that any offer waive the appraisal or provide an appraisal gap. For example, in 2019 and 2020, the market was...

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How to Buy a Home and Keep the Furniture

by John Ricciardo

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How to Buy a Home and Keep the FurnitureEmbracing Your Dream Home—Furniture Included In the ever-evolving real estate landscape, finding a home that resonates with your vision is a thrilling experience. But what if the dining room table, the cozy sofa, or that exquisite bookshelf captures your heart just as much as the house itself? Good news—you can make them part of your new home. Let's delve into how you can negotiate to include furniture in your home purchase. Identify...

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How to Find Bank Foreclosures and Distressed Sales in Today’s Market

by John Ricciardo

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How to Find Bank Foreclosures and Distressed Sales in Today’s Market Looking for a great deal on real estate? Bank foreclosures and distressed properties can offer incredible opportunities—but you need to know where to look. This guide breaks down how to find distressed properties, evaluate their potential, and make smart investments, all tailored for today’s housing market. What Are Bank Foreclosures and Distressed Properties? Bank foreclosures and distressed properties...

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