Real Estate Information

With the holiday season now in full swing, you are undoubtedly busy ... whether it's shopping for gifts, preparing for guests or gathering with friends. What you probably won't notice through the hustle and bustle of the season is your heating bills rise. Did you know that as much as half of the energy used in your home goes to heating and cooling?

As a member of the Top 5 in Real Estate Network®, I can offer you some vital information that will help you make smart decisions about your home's heating, ventilating, and air conditioning (HVAC) system...all of which can have a big effect on your utility bills -- and your peace of mind.

Here are some tips from ENERGY STAR to help you increase the efficiency of your heating and cooling system:

Change your air filter regularly
Check your filter every month, especially during heavy-use months (winter and summer). If the filter looks dirty after a month, change it. At a minimum, change the filter every three months. A dirty filter will slow down air flow and make the system work harder to keep you warm or cool -- wasting energy. A clean filter will also prevent dust and dirt from building up in the system -- leading to expensive maintenance and/or early system failure.

Tune up your HVAC equipment yearly
Just as a tune-up for your car can improve your gas mileage, a yearly tune-up of your heating and cooling system can improve efficiency and comfort.

Install a programmable thermostat
A programmable thermostat is ideal for people who are away from home during set periods of time throughout the week. Through proper use of pre-programmed settings, a programmable thermostat can save you about $180 every year in energy costs.

Seal your heating and cooling ducts
Ducts that move air to and from a forced air furnace, central air conditioner or heat pump are often big energy wasters. Sealing and insulating ducts can improve the efficiency of your heating and cooling system by as much as 20% -- and sometimes much more.

Focus first on sealing ducts that run through the attic, crawlspace, unheated basement or garage. Use duct sealant (mastic) or metal-backed (foil) tape to seal the seams and connections of ducts. After sealing the ducts in those spaces, wrap them in insulation to keep them from getting hot in the summer or cold in the winter. Next, look to seal any other ducts that you can access in the heated or cooled part of the house.

Consider installing ENERGY STAR-qualified heating and cooling equipment
If your HVAC equipment is more than 10 years old or not keeping your house comfortable, have it evaluated by a professional HVAC contractor. If it is not performing efficiently or needs upgrading, consider replacing it with a unit that has earned the ENERGY STAR.

Depending on where you live, replacing your old heating and cooling equipment with ENERGY STAR-qualified equipment can cut your annual energy bill by nearly $200. But before you invest in a new HVAC system, make sure that you have addressed the big air leaks in your house and the duct system. Sometimes, these are the real sources of problems rather than your HVAC equipment.

Ask about proper installation of your new equipment
Replacing your old heating and cooling equipment with new, energy-efficient models is a great start. But to make sure that you get the best performance, the new equipment must be properly installed. In fact, improper installation can reduce system efficiency by up to 30% -- costing you more on your utility bills and possibly shortening the equipment's life.

Taking a few small steps can be all you need to save some energy and a bit of money. If you are interested in more helpful tips, such as these, please e-mail me. Also, please feel free to forward this information along to anyone you believe might be interested as well.

As another year comes to a close and we make our plans to ring in the New Year, it behooves all of us to put some time aside for important tax preparations. A few simple steps taken now can leave you in a much better position by the time April 15 rolls around.

Since I am a member of the Top 5 in Real Estate Network®, my clients often come to me for financial and tax advice, in addition to their real estate-related needs. I've worked with a great network of financial planners and attorneys over the years, who have shared many valuable tax tips. Most of these experts are expecting higher income and capital gains taxes in 2011, in addition to uncertain amendments to tax laws. That's why certain steps should be taken now so that they are "grandfatherd in" before the changes occur.

While it is essential that you consult with your own accountant and/or attorney, here are some strategies to consider for minimizing your tax burden, provided by Ken Rubinstein, a tax and asset protection attorney with New York-based Rubinstein & Rubinstein:

1. Sell appreciated property before loss of capital gains treatment and avoid tax via Charitable Remainder Trusts and international tax planning strategies (e.g. tax advantaged foreign annuities and foreign private placement life insurance).
2. Convert 401(k)s to Charitable Remainder Unitrust IRAs before the government taxes 401(k)s.
3. Consider taking income in 2010, rather than deferring income to 2011 with its likely higher tax rates. As a corollary, you may wish to defer losses to 2011 to offset expected 2011 income at higher tax rates.
4. Consider a Dynasty Trust. Such a trust allows the preservation of assets for one's immediate and remote descendants, along with offering asset protection from creditors, as well as a delay of the estate tax bite for many generations.
5. It is also possible to minimize the tax on appreciated assets by exchanging such assets for a foreign annuity policy. The exchange of assets for an annuity policy is neither taxable nor reportable (at least until 2012). Further, capital gains within the annuity policy would not be taxable.

Again, please be sure to consult with your own tax professional before embarking on any of these suggestions. You can also e-mail me at any time for more information ... and please forward this email to your friends and colleagues. We can all use some good advice when it comes to taxes!

Mortgage interest rates are bouncing around and appear to be starting to creep up which may give homeowners one more opportunity to lock in the lowest rate.

Some people who refinanced their home last year are refinancing again because the rates have come down so much in the past six months. The basic decision making a criterion is whether you’ll continue to own the home long enough to recapture the cost of refinancing.

Why are you refinancing?

• To lower your payments and save on interest
• To shorten the term to pay the loan off sooner
• To take additional cash out of equity to consolidate debts or provide spare cash

Things to consider:

1. Points on a refinance are not deductible in the year paid and must be amortized. You may want to consider a loan without points or loan origination fee but a slightly higher interest rate which will be deductible. Your loan officer can price the mortgage this way.
2. Consider a shorter term than the standard 30 year loan. The rates are usually lower and you’ll build equity faster not to mention pay off the loan sooner also. See table below.
3. Consider a FHA loan even though you will have to pay Mortgage Insurance Premium. The loan is assumable with buyer’s qualification. Today’s lower rates may make it more valuable to a buyer in the future as an assumption.
4. Just because a lender will loan you more than your current unpaid balance doesn’t mean the interest on the mortgage will be deductible. If you are concerned about interest deductibility, you should check with your tax advisor before you close on the refinance. You can also review IRS Publication 529 Home Mortgage Interest Deduction.

Interested in knowing what you might expect to save and how long it would take to recapture the cost of refinancing, give me a call with your original mortgage amount, interest rate, term and unpaid balance. I can run a Refinancing Analysis while you’re on the phone or you can enter it directly in my Refinance Analysis app.

HAPPY HOLIDAYS!!!

There is nothing better for a kid than to recieve a call from Santa!!  Now, Cincinnati Bell offers a free personalized call from Santa to your child.  Click here to go directly to the link.  It's easy to do - just pick a date and time, your childs name and the message you want your child to hear and that's it!!!  Merry Christmas and thanks Cincinnati Bell!!!

Today's real estate market presents many unique opportunities for first-time home buyers. From low interest rates to foreclosure properties and short sales, the current economic climate puts homeownership within reach for many who might have thought they couldn't afford it.

Many first-time home buyers may not be aware of the numerous aspects involved in the home-buying process, however. As a Member of the Top 5 in Real Estate Network®, I am aware of the many pitfalls that can trip new buyers up along the way. Here are five important tips to keep in mind when embarking on homeownership.

1. Study: Do your homework before you buy and be sure to review the closing numbers of comparable homes in the neighborhoods you are exploring. Use the Internet, including social media sites, to garner as much information as possible about homes that interest you and the communities in which they're located. Bring this information to your real estate agent who can interpret it and put it within proper context to your needs.
2. Credit: With today's tight lending standards, it’s imperative to clean up your credit score before applying for a mortgage. A bad credit score may not just affect your rates, but may prevent you from getting a mortgage altogether.
3. Get preapproved: Getting your mortgage preapproved gives you extra leverage with home sellers. Not only will you know what the purchase parameters are, but you may be able to negotiate a better purchase price because you can close with more certainty and more quickly. Work with your real estate agent to negotiate a mortgage contingency.
4. Title: Make sure any new additions or construction to an existing home have been properly filed with the local municipality and have been approved.
5. Inspection and appraisal: Getting a home inspection is imperative in order to weed out any hidden problems, such as mold or termites, before you sign the contracts. Problems found during the inspection can potentially be used as a bargaining chip with sellers. Likewise, an appraisal is a must to ensure the value of your purchase.

Working with a professional real estate agent is essential for all home buyers, but especially first-time home buyers. Make sure the agent you select is experienced, informed and a local expert on the areas you're considering. For more information, e-mail me, and please forward this to other first-time home buyers you may know.

Can you believe the holidays are right around the corner?  That means its time for our annual pictures with Santa.  Bring the family.  Our free pictures are November 21, 2010 from 1:00pm - 5:00pm at Boone Links Golf  Course Clubhouse in Florence, KY.  We hope to see you there!!!

Understandably, the goal for any home seller is to sell their property quickly, while investing as little as possible in renovations. With a limited budget and a little effort, you can greatly increase your home's appeal by focusing on what prospective buyers can see on their first visit.

As a member of the Top 5 in Real Estate Network®, I've learned a lot from my fellow members and have access to valuable home-selling information. Consider the following advice from staging expert Kate Hart:

Curb appeal: First impressions are everything and this has never been truer than in today's market. To leave a positive impression on buyers, take care of any exterior maintenance issues before buyers arrive, such as power washing walkways and patios, cleaning your gutters, touching up peeling paint, replacing broken light bulbs, edging and mulching beds, and adding fresh annuals. Some free things you can do include polishing your front door hardware and sweeping away pesky cobwebs.

Kitchen: Give your kitchen a mini facelift on a budget by repainting your cabinets instead of replacing them. For a more contemporary look, consider a semi-gloss espresso brown. For a more traditional look, opt for a semi-gloss creamy white. Complete the makeover by adding new hardware. Considering professional help? Ask your local painter if they can spray a lacquer finish on your cabinets. This treatment is more expensive than painting the cabinets yourself but the result looks like a factory finish.

Bathroom: Give an outdated bath a pick-me-up by replacing your existing lighting, faucets and hardware with updated styles.

Family room: Make your fireplace or great view the selling feature, not your entertainment center. Chances are, your family room is currently centered around the things you do everyday, such as watching television. Before showing, rearrange your room to showcase the architectural focal point of your family room.

Dining room: Keep the dining room decluttered and streamlined so buyers can imagine how they can enjoy this space with their families. Before showing, make sure to remove any knick-knacks and extraneous items from your china cabinet or sideboard. A rule to follow: pack up any items that are smaller than a softball, such as salt and pepper shakers, wedding cake toppers and small figurines.

Living room: Make sure you are selling your space, not your stuff. Give this space a less-cluttered look by keeping no more than three items per surface. For example, go with a piece of art and a pair of candlesticks on the mantle instead of your favorite collection.

A little bit of work and preparation can go a long way toward selling your home sooner. For more tips and advice, please feel free to e-mail me. And, if you know anyone else who could benefit from this advice, please share this with them as well.

You'll fall in love as soon as you see this gorgeous cape cod!!!  Take a look.  Priced to sell at $150,000, 212 S. Grand is loaded with amenities.  For your private tour of this fantastic home, contact us today.

If you have a second home or vacation property you're looking to sell, this market may prove to be exceptionally tough. That's why leasing your property, at least for now, is something you should seriously consider. With the winter months upon us, now is the perfect time to start marketing your property for the summer season.

As a member of the Top 5 in Real Estate Network®, I have access to a plethora of information related to this subject, so I am well-versed on how to help facilitate the rental of your vacation property.

These five tips, for example, are from vacation property experts HomeAway.com:

• Study the competition. Look at listings for vacation rentals in your area to get an idea of what they offer and how much they charge.
• Take lots of great photos of your property. Note: No people in the photos, please! Make it easy for your prospective renters to visualize themselves in the scene. And be sure to "dress the set" the way professional photographers do, with an arrangement of colorful flowers on the coffee table, or a dining table set up for a family dinner.
• Talk to your real estate professional about listing your property on vacation rental/second home sites, and other marketing strategies that will garner the most exposure for your property.
• Run your vacation rental like a business. Build a team of reliable cleaning and service people, collect and pay local and state sales tax, get set up to accept credit cards, maintain an online availability calendar, and always respond quickly to inquiries from prospective renters.
• Remember: You're in the hospitality business. Think of yourself as a host and your prospective renters as guests. With this mindset, you're sure to be successful as a vacation-rental owner.

The above suggestions can help you get the jump-start you need to lease out your vacation rental and help start bringing in some additional revenue. Be sure to speak with a professional real estate agent where your vacation home is located for specific tips related to that area.

For more tips like this, please e-mail me and please feel free to forward this information to anyone you think might benefit from it.

Keeping your household organized is a challenge in the best of circumstances, let alone when you're in the midst of dealing with the disruption of moving.

As a member of the Top 5 in Real Estate Network®, I always take the extra steps necessary to help my clients experience a stress-free, successful move. Throughout my years in the real estate business, I've witnessed many common mistakes that people make during the course of a move.

Here are seven to avoid:

1. Packing everything. Prior to moving, it's important to take a look around and decide what you don't want to keep. This will cut down on costs by not having to transfer unnecessary items.
2. Sending it all to storage. Storage is usually expensive and just delays the inevitable. Eventually, what you store will need to be moved into your home, so try and bring it all the first time.
3. Shopping on the Internet for move quotes without dealing with a live person. This is one instance where dealing with a live person is necessary. You need to be able to ask specific questions and have your estimate explained to you line by line so that you can see where costs can be cut.
4. Not looking into what your homeowners' insurance covers. For a nominal cost, these types of insurance policies may cover your goods in transit.
5. Not taking photographs of items before disassembling them for the move. You will be unable to process an insurance claim if you don't have proof of what the item looked like before you packed it.
6. Overlooking the box count. If you are paying for boxes by the piece, keep track as things are being packed as each box has a different price attached to it. You don't want to end up with 300 boxes when you only needed 200. Also, if the moving company sees that you're keeping track, movers will be less inclined to hit you up for additional costs when the job is done.
7. Forgetting to take inventory. If you don't create an inventory, there's no fool-proof way to know if you've left something behind or if it somehow got lost in transit.

Work closely with your real estate professional to help avoid these and other common pitfalls of moving. You can also e-mail me for more information. Please share these moving mistakes with friends and family, too, so that the journey to their new home is a happy one!