Home Staging to get it sold.
Staging your home is very important in any market, but is crucial in a “Buyer Market.” Many buyers don’t have the time to improve their homes, so they want something they can move right into without the fuss. Also who doesn’t love walking into a new construction open house? They are always staged for dramatic impact and of course with a cozy and inviting feeling without the lived in look. So, when you have something to sell that, of course, you live in, the best way to stack up to the competition is to make your home appear new, updated, and of course not lived in. How do you do that? It is very easy. You get it staged.
1) Hire a real estate agent that is in tune with staging or even a home stager.
2) Remove clutter, storing away unnecessary papers, nick knack, and children’s toys are a must when home staging.
3) Depersonalizing, you love your family, but keeping those family photos on display will only distract the buyer. So stage away your pictures.
4) Remove oversized furniture from every room. Square footage is what sells, so show it off. This is a home staging must.
5) When home staging you must freshen floors. If you have worn carpet consider having it replaced or professionally cleaned. Hardwood is worn and has lost its finish? Have them sanded and stained. Or even pick up a solution at your local hardware store and do it yourself. Tile dated and dirty? Replace or re-glaze.
6) Every room counts when you are home staging, so give every room the special attention it deserves, even the basement and garage need to appear clean and fresh. Consider storing boxes and furniture at a storage facility. Better yet, finding that you have items you don’t plan to move, have a garage sale or donate to a local charity.
7) Kitchens and bathrooms are what sell a home. Updating and staging those rooms will bring you the buyers. Every dollar in brings more dollars out.
Update your fixtures when you are home staging. If you have dated light fixtures and faucets, change or refinish them to a more modern style.
9) Curb appeal. If you don’t have it, a buyer is more likely to keep on going. So sprucing up the outside is just as important as the inside when home staging.
10) Accessorize! Bring in modern elements to heighten your room’s potential, and warm it up with rich and bright colors in rugs and accents. So set the stage!
Home staging is all about making your home appear lavish and rich without killing the pocket book. So explore your local flee markets, thrift stores, or even a garage sale. Also, home staging is about using what you have. Walk around your home and look for furniture and accessories that you may have placed in another room. Think outside the box. Your furniture and décor are not permanent to a particular room, so move it around. Have fun with it. Remember your ultimate goal is to sell your home.
Gina Bombin, Your link to Wheatfield, Indiana R eal Estate, Home Sales
First Time Home Buyer Tax Credit
So is it true?
Will the government give you a $7500 income tax credit if you buy a home for the first time?
Well it is TRUE! It is called the Housing and Economic Recovery Act of 2008
Ok, but you do know that there are guidelines. But they are simple and well worth the effort. So if you have been hesitant to purchase a home this can definitely give you the boost to get off the fence and start looking for your new home.
So want to know what those guidelines are?
Amount of Credit: 10% of cost of home, not to exceed $7500
So that means if you purchase a home that is $65,000 you will receive a credit of $6500 on your income tax return. If you purchase a home for $150,000 you will receive a credit for $7500.
Your property has to fit into this category: Any single-family residence (including condos, co-ops) that will be used as a principal residence. So that means a detached home, townhouse, duplex or condo that you will live in.
This reduces the income tax liability for the tax year of purchase. Claimed on tax return for that tax year.
So what is the income limit? Full amount of credit available to individuals with adjusted gross income of no more that $75,000 ($150,000 on a joint return).
So how to they classify first-time buyer? You or your spouse may not have owned a principal residence in 3 years previous to purchase.
So do you have to pay this back? Yes. Over the next 15 years a portion will be deducted from your tax return. If the home is sold before the 15 years, then the remaining balance will be recaptured on the sale.
If you live in the District of Columbia then you cannot receive the DC credit if you apply for this one.
So you bought a house this year, but it was before this was passed, are you eligible? If you purchase on or after April 9, 2008 then Yes you are eligible.
When will this credit expire? July 1, 2009. So start looking. There is no better time than now, to get a great deal. You will be able to buy a great house now with how much inventory there is out there and how home values have dropped.
Also, this can be used against Alternative Minimum Tax so this will not throw you into AMT.
So, I hope I have cleared up some of your questions about this credit or helped you make a decision regarding purchasing or waiting. If you are able to purchase a home, you should. There is no better investment than buying a home. So get out there and invest in yourself!
The best way to see if you are eligible for this credit and get all the guidelines is to speak with your tax professional.
Click here for a great Q & A on the credit
Gina Bombin, You’re #1 source to the First Time Home Buyer Credit
McColly Real Estate
Crown Point, Indiana
Spacious Bi-Level with 2.5 acres. Located in Hebron - Boone Grove Area. Home has ample space inside and out. Even plenty of room for the avid car mechanic or craftsman with the extra detached car garage with running water. Close to expressway, but in country setting. Horses allowed. View more info of 570 W 250 S. Hebron, In 46341 or call the 24/7 hotline at 1-800-516-2789 ext. 2142
Listed By:
Gina Bombin Your Hebron, IN Real Estate Expert
Putting the Real, Back into Real Estate
McCOLLY Real Estate
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