If you are refinancing, purchasing or selling this is a must read. I tell all my clients to call me first and double check if they get any suspicious email or phone call. Do not let this happen to you!
Check out these articles for great information about our community and the real estate industry.
REAL ESTATE news
What to expect for the 2017 housing market
Optimism and caution set to greet real estate in 2017
MORTGAGE & FINANCE news
How to save money as a last minute holiday shopper
How important is your credit score?
6 steps to take to ensure you don’t outlive your money
Some “green” features can increase your home’s value more than others
Pinterest 100 pins for 2017
Design recipes to make your space bright
Washington considers road use tax based on how many miles you drive
The new SR 99 Tunnel is 70 percent complete
Seattle must halt plan for more backyard cottages
Boeing cutting production of 777 beginning next year
WEEKLY DOSE OF awesomeness
Tricked-out tiny house has motorized furniture
New home sales hit highest level in 9 years!
Millennials still believe in the homeownership dream even if they can’t afford to buy
Housing market across the U.S. finally starting to look healthy
Salary needed to buy a home in 19 major U.S. cities
Tips for staying out of debt
Calculate how much house you can afford
King County’s eco-remodeling tool provide tips for going green for your next home renovation
Four colors that may hurt a home’s sales price
7 percent of Puget Sound homes are underwater, compared with 12 percent nationally
A teardown a day: Bulldozing the way for bigger homes in Seattle, suburbs
BLS stats show Seattle-Tacoma-Bellevue is #7 Metro area for fastest job growth
What does Vancouver’s housing market implosion mean for Seattle?
Seattle home-sale market provides small hint of slowdown
You need an annual salary of $83K to afford a home in Seattle
Everett welcomes the film industry, an important economic driver for local businesses
I hope your week is a great one!
Jen Murrweiss | Remax Elite | 425-422-7243
Happy Friday! I hope you enjoy this Real Estate round up of our area and other interesting articles plus some fun stuff too.
REAL ESTATE news
Real estate getting bubbly but unlikely to pop, Seattle “is on fire across every sector”
Number of million-dollar homes in Seattle area has tripled since 2012
U.S. existing home sales rise for a second straight month
MORTGAGE & FINANCE news
3 financial apps that will transform how you manage money
Will Millennials ever be able to retire?
The 7 biggest investment mistakes celebrities make
10 tips for budget-friendly lawn care
7 weird ways to stay cool this summer
Massive frozen food recall in Washington State
Seattle No. 3 on top 25 best cities to find great jobs
Seattle to host 2018 Special Olympics
Is Seattle a better bicycle city than Portland?
Seattle homes selling faster than anywhere else in the U.S.
Seattle growth was 11th fastest according to just released Census data, now 18th on list of biggest U.S. cities
Facebook unveils Frank Gehry design for its new South Lake Union offices
Snohomish County looking to increase bike tourism
Snohomish county offers top teacher salaries in the state
City of Edmonds to develop an affordable housing strategy by 2019
WEEKLY DOSE OF awesomeness
House made from cardboard for is not your kid’s refrigerator box
Have a spectacular weekend everyone!
Thank you for your service and helping to keep our neighborhoods safe!
National Police and EMS week may 11-17th.
Are you a Hero that is looking to save on your next home sale or purchase and all the services that go along with it? Contact me and I will show you how easy it is.
With Tax Season coming to a close and all that paper everywhere do you feel like just throwing it all up, away or into the fire? Boy I know I do but, we have to keep some important docs and I hope this list is a good reminder.
Tax returns- 7 Years– Keep tax returns and all supporting tax docs, including W-2’s, 1099 forms, property tax info, bank statements, mortgage interest statements, cancelled checks, receipts, home purchase and home improvement info.
Paycheck stubs– 1 Year
TAX TIP: The 121 Exemption When Selling Your Home
The reason to do a 1031 exchange is to avoid capital gains taxes on investment property. Almost once a week I get asked about the sale of a primary residence. When you sell your home, you have an exemption from most capital gains taxes. A great resource to get more details about that is an IRS Publication, updated annually, called Selling Your Home (Pub 245). You could go to IRS.gov to download that.
In short, there is a 121 Exemption for capital gains taxes up to $250K per individual or $500K per married couple filing jointly. You do have to have lived in the property as your primary residence for 2 out of the last 5 years, and you can only take this exemption, once every 2 years.
This has been used in a long term strategy to avoid paying capital gains on rentals by converting the property from investment to primary residence. The IRS got wise to this strategy and put some constraints on this.
It could still be part of a plan, but reach out to your tax advisor with questions and see if this is an option for you
Most all roofs can, and will develop leaks in them; and a simple home inspection won’t guarantee to find them all. Leaks normally start as very small crevices or cracks, without the homeowner’s knowledge. In the early stages of a leak only small amounts seep through the crack, this is not a sufficient amount to alert the homeowner as it doesn’t travel through all the layers of the ceiling.
It is recommended that you have your attic, and roof thoroughly checked twice a year for such leaks. The most common source of leaks is flashing as they are often overlooked when repairing/replacing the roof, so be sure to inspect your flashing from time to time.
When it comes to home maintenance, your garage door might not be at the top of your list or even on it at all! However regular maintenance could save you headaches down the line, and the following tips may help keep your garage door working properly for decades to come. Applying a solvent like WD_40 to the roller tracks, and latches should prevent them from sticking over time due to rust and corrosion. While you’re there examine each component and replace any bent or broken parts as needed. Also be sure to apply some lubricant to the garage door opener if it is operated by a chain or drive screw. Wooden garage doors should be sealed and painted on a regular basis, and DIY network suggest caulking all cracks. Also, check the weather sealant at the bottom of the door and if it is damaged, replace it before the rainy season.
About.com recommends adding garage door maintenance to your yearly maintenance schedule. Spring or autumn are perfect times to make a date with your garage door, in between the harsher weather periods.
Finally this is one I see homeowners forget a lot. Your HVAC system worked very hard last winter. Have it inspected and cleaned by a professional HVAC contractor and keep those filters changed for the spring and summer months as well.
Get it done and enjoy the spring!