One good news from this recession wrecked world is that real estates experts are saying that home prices are starting to level out. After an almost continuous year long decline (more than that for other areas), prices seem to have stabilized to the much-awaited rock bottom prices. Mortgage rates are also at their lowest ever and both are to benefit the prospective home buyer who have been waiting a long time for the right time to go ahead with their purchase. (more…)
Image Source: www.hugoneucorp.com
An estate plan is a legal system for the disposal of your property upon your death. It recognizes your wishes, such as those regarding the care of minors, and it legally minimize taxes. It can take into account your views regarding future medical care; for example, it may state you have no wish to have your life sustained by a life support machine.
Estate planning may or may not involve tax planning. The single most important document associated with estate planning is a will.If you own property, there are basic questions which need to be answered upon your death. If these answers are not set out in the form of a will, then the courts have the right to decide what happens to your assets. The end result may well coincide with your wishes, but often it will not. The value of your estate will be substantially reduced, as professionals such as accountants and lawyers will argue as to what the law of succession means.
Ever seller wants to make sure that his or her home gets top dollar. Careful planning and making your home presentable is the key to make buyers rush to your front porch with their checkbooks at hand. To prepare your home for the big sale, remove all personal belongings like photographs and heirlooms – you want your buyer to imagine THEIR stuff on your walls. De-clutter and throw out any junk you won’t need; this will make moving out easier too. Make minor repairs on things like leaky faucets, doors that don’t close properly, and holes in the wall. Finally, make your house sparkle by cleaning off cobwebs, vacuuming daily, and waxing the floors.
One of the biggest mistakes a seller can make is putting the wrong price tag on his or her home. Sellers tend to put a very high value on their property out of fear of losing profit, but buyers won’t even look at homes that are priced too high. There’s no fixed formula to pricing a home. Usually the market value of a house is based on comparable sales, but there are other factors that should be considered like location, market movement, demand, and the house’s condition. Don’t listen to your agent when he or she overstates your house’s value and makes you sign an overpriced listing. As a seller you will lose your competitive edge if you change your mind and reduce the price later on.
