Featured Home: 1409 Grapevine Cove

Enjoy Trinity Falls living in this spacious one story home…

Gorgeous one story, barely lived in. Features include beautiful wood floors, spacious covered back patio, stacked stone fireplace and large granite kitchen island. Wait until you see the amazing master bathroom. Original dining space is used for playroom. Perfect home for entertaining. Home is walking distance to the community pool! Easy access to 75 for easier commuting.

This home is a must see! Offered at $395,000.

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2 Ways to Get the Most Money from The Sale of Your Home

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?

Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

The #1 Reason to Sell Now Before Spring

The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017:

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.

Bottom Line

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

This Month in Real Estate: January 2018

 

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Home Prices:

The median home price increased to $248,000 in November, which was up 0.8 percent from October and up 5.8 percent from November of last year. The median home price has increased by approximately $13,600 in the past year alone.

Home Sales:

The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.8 million homes during the month of November. This was an increase of 5.6 percent from October and an increase of 3.8 percent from November of last year.

Home Inventory:

There was a 3.4-month supply of housing inventory in November, which was a 12.8 percent decrease from October. The total number of available homes for sale has decreased by 15.0 percent compared to November of last year.

Some of our Favorite Home Design Trends for 2018

Home Design Trends That Will Rock Your House Out in 2018

But, the true trick here is figuring out which trends are on the rise, and which ones are about to flop. We’ve done our research, and here are four of our favorite home design trends from the experts and their predictions for 2018:

Curved Couches & Sofas

Want your sofa or couch to feel extremely current? Then, the 70s style curved versions are the way to go. Say goodbye to traditional, boring L-shaped sectionals and straight couch and loveseat duos. Curved sofas and couches have a unique way of dividing up a room. And, they look stylishly amazing from any and every angle. These furniture pieces are perfect for rectangular-shaped rooms, as well as for hugging your fireplace.

 

Lampshades That Scream For Attention

Guess what? It’s time to toss those boring white lampshades and shed some color on your light. For 2018, expect to see lampshade trends that include patterned, wicker and pleated pieces. When shopping for lampshades, go for fun, sophistication or whatever your personality desires.

Monochrome Décor

In this day and age, minimalists are using that mind-frame to decorate their home with simplicity. Yen lovers believe this creates areas filled with peace. To create a more monochrome space in your home, try the tone-on-tone method. You’ll see a lot of home spaces decorated with one family of colors in 2018.

Statement Floors

Statement floors have quickly become a serious home décor rave. And, they will still be hot trends next year. From chevron floors to herringbone floors, homeowners are now making bolder statements in floor design. You’ll see statement floors in quirky designs, as well as unique epoxy coating designs. These focal designs make your home space unique and extremely trendy.

Stay tuned into the blog as we uncover more of our favorite home design/decor trends throughout the year!

 

Taxes and the Homestead Exemption

Taxes and the Homestead Exemption

In recent news, taxes and real estate is hot topic. One of the easiest ways a homeowner can lower his or her property tax bill is to file a homestead exemption. A homestead is generally the house and land used as the owner’s principal residence on Jan. 1 of the tax year.

Homestead exemptions reduce the appraised value of your home and, as a result, lower your property taxes. To apply for an exemption on your residence homestead, contact the Appraisal District for your county.

Available homestead exemptions include:

▪ School taxes: All homeowners may receive a $25,000 homestead exemption for school taxes.
▪ County taxes: If a county collects a special tax for farm-to-market roads or flood control, a homeowner may receive a $3,000 homestead exemption for this tax.
▪ Age and disability exemptions: Individuals 65 or older or disabled as defined by law may qualify for a $10,000 homestead exemption for school taxes, in addition to the $25,000 exemption available to all homeowners. Also, any taxing unit may offer a local optional exemption of at least $3,000 for taxpayers age 65 or older and/or disabled. Older or disabled homeowners do not need to own their homes on Jan. 1 to qualify for the $10,000 homestead exemption. They qualify as soon as they turn age 65 or become disabled.
▪ Taxing units may offer a local option exemption based on a percentage of a home’s appraised value. Any taxing unit can exempt up to 20 percent of the value of each qualified homestead. No matter what percentage of value the taxing unit adopts, the dollar value of the exemption must be at least $5,000.
▪ There are also exemptions for the following Partial exemption for disabled veterans, 100 Percent Residence Homestead Exemption for Disabled Veterans, Surviving Spouses of Members of the U.S. Armed Services Killed in Action and Surviving Spouses of First Responders Killed in the Line of Duty.

One more very important note…..beware of homestead exemption scams!

There is NO fee for making the application for a homestead exemption. However, certain companies offer to “process” your application for a fee by sending you a letter in the mail. These letters usually will start appearing in your mailbox around the first few weeks in January. THROW THEM AWAY! They often look like an official government document and state that the fee must be paid for the homeowner to get the exemption. AGAIN, THROW THEM AWAY!

Once again, filing for a homestead exemption is FREE. You just fill out a simple application and mail it in to your appraisal district. File the completed application and all required documents with the county appraisal district for the county in which you live.

For more information, or if you have questions about your Homestead Exemption, contact The Indigo Skye Group!