How the Tax Overhaul Will Affect Real Estate

Baltimore Real Estate Podcast with Seth and Alyce Dailey

Baltimore Real Estate Podcast with Seth and Alyce Dailey

7:46

Send us a text On this very funny short Bonus Show, standup comic Mack Dryden shares his story about going to the Dentist...you'll never believe what happens...Hilarious! Look for Mack Dryden's "NEW" Dry Bar Comedy Special... Please Listen, Enjoy, and Share where you can...Thanks!! Support the show Standup Comedy Podcast Network.co www.StandupComedyPodcastNetwork.com Free APP on all Apple & Android phones....check it out, podcast, jokes, blogs, and More! For short-form standup comedy sets, listen to: "Comedy Appeteasers" , available on all platforms. New YouTube site: https://www.youtube.com/@standupcomedyyourhostandmc/videos Videos of comics live on stage from back in the day. Please Write a Review: in-depth walk-through for leaving a review. Interested in Standup Comedy? Check out my books on Amazon... "20 Questions Answered about Being a Standup Comic" "Be a Standup Comic...or just look like one"…

7年之前

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There’s a lot of uncertainty about The Tax Cuts and Jobs Act and its effect on real estate. Let’s first take a look at the four key tax changes impacting the housing market at this moment: 1. Deductions for property taxes. Prior to the new tax bill, if you itemized your deductions, you could deduct all of your property tax. Going forward, this amount will be capped at $10,000. 2. Deductions for mortgage interest. The final bill reduces the limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/2017. Other loans of up to $1 million are grandfathered in. 3. Home sales exclusion for capital gains. If you sell your home and turn a profit, then up to $500,000 of that profit is exempt from capital gains tax. Although earlier versions of the bill required you to live in the home for five out of the last eight years, the final bill made no changes to the capital gains exclusion. In order to qualify for this exclusion, you must have lived in your home for two of the past five years to claim this exemption—just like before. 4. Deductions for moving expenses. The final bill repealed the moving expense deduction, except for those who are members of the Armed Forces. “These reforms may drive home prices down in the midterm.” The first two changes increase taxes on current homeowners and make homeownership less attractive. This is a part of why the National Association of Realtors claims that home prices could drop by more than 10% due to the new tax plan. On the other hand, the last change makes it more expensive to sell your home. As a consequence, they could keep some homes off the market. We’ll have to see how the different changes play out in reality, and how they interact with other real estate conditions. However, there does seem to be a consensus among experts that current reforms might drive home prices down somewhat in the midterm. On the bright side, home sellers do still get to take advantage of the home sales exclusion for capital gains. That is a major victory for real estate. That’s why if you’ve been thinking of selling your home, now might be a good moment to start the process. If you have any questions, whether you are buying or selling, you can always call us or shoot us an email. We can give you more specific recommendations based on your unique situation. We look forward to hearing from you soon.

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How the Tax Overhaul Will Affect Real Estate

published 7年之前

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We wish you and your family a wonderful holiday season from all of us at the Dailey Group! We wanted to take the time today to thank you for all of your support this year. 2019 has been a wonderful year, and it’s only because of the people we’ve met and helped move into new chapters in their lives. We have you to thank for all of those introductions. We work with excellent people, and good people know good people. From our family to yours, we wanted to wish you a happy holiday and an exceptional New Year. Thank you for being part of our family here at the Dailey Group; we’re always here to serve you. We enjoy working with and for you. For our full holiday message, watch this short video.…

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Here are four tips to remember if you plan on living in your for-sale home. Your home’s always been a sanctuary, but once that “For Sale” sign goes up in your front yard, you need to be ready to bare it all. Eager Realtors will be waiting to come through your front door, and potential buyers will look through every nook and cranny during open houses. All of this will happen while you’re trying to continue living your life as normally as possible. If you’re preparing your home for the market, it shouldn’t feel like your home anymore at all. Here are four tips to prepare you for the hectic life that comes with living in your for-sale home: 1. Start packing now. The secret to making a clutter-free home is to remove the things you can live without while your home’s on the market—store it, sell it, chuck it, or donate it. While you’re packing, work on decluttering, donating, or throwing away the things you don’t need. It will give you a headstart on moving, and buyers will appreciate the extra space. Charities like the Purple Heart Foundation will pick up your donations free of charge. I use them at least once a month myself. 2. Get squeaky clean. If you’re lacking the motivation to clean up every cobweb or scrub the floor, know this: A clean home will add thousands of dollars to your sale price. Aim for five-star perfection when cleaning your sinks, mirrors, windows, and toilets. Or just hire someone to do it for you. “Moving is never easy, but hopefully these tips will make it easier for you.” 3. Maintain your privacy and safety. People will look through your drawers, closets, and medicine cabinets at open houses and showings, so don’t keep anything in the house you don’t want anyone else to see and protect your valuables. When in doubt, just lock it up. 4. Involve your kids in the process. Make the preparation process into a game and challenge them to see who can clean up their toys the fastest. As a mom, I know how hard this can be, but you’d be surprised how cooperative they are and how much fun they have once it’s showtime. Moving is never easy, but hopefully these tips will make it easier for you. If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.…

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4 Tips for Buyers Navigating a Seller’s Market

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Here are four ways to ensure a seller takes notice of your offer, even when multiple are on the table. In a seller’s market where the field is crowded with buyers, many on the sidelines are left to wonder if it’s even worth it to try and compete. When inventory is particularly low, it’s not unusual for sellers to receive a bunch of offers. It’s almost always a good idea to write an offer nonetheless. Here are four tips to make your offer outshine the rest in such situations: 1. Submit a larger-than-normal earnest money deposit. Pending home sales don’t always pan out. Upon accepting an offer, many sellers worry that their buyer might back out of the transaction or default on the contract, leaving them with no fallback option because the formerly interested buyers have all moved on. By raising your earnest money above the baseline requirement, you’re letting the seller know that you’re serious about closing. Think about it this way: It’s money you’d pay the seller at some point anyway. Why not offer it a bit sooner? 2. Show the seller you’re qualified. Nearly every offer in a multiple-offer situation will be accompanied by a pre-qualification letter. To truly set yourself apart from the rest, go to your (preferably local) lender and ask for a pre-approval letter. Pre-approved buyers are the most favorable option in the eyes of a seller. “In the end, a home’s worth simply depends on what a buyer is willing to pay and what a seller is willing to accept.” 3. Give the seller time to move. Buyer possession is often a sticking point. It’s difficult enough to juggle multiple closings between the sale and purchase of a new home all at once, and no one wants to show up to closing in a moving truck if it’s avoidable. After closing, go easy on your demands and allow the seller two to three days to move out of the home without expecting compensation or by renting it back to them at a minimal cost. 4. Write your best offer. Rather than crossing your fingers for negotiation, make your first offer your best offer. Ask your agent to do a comparative market analysis on the home, and based on the price they come back with, make your offer a little more enticing by going above list price. Some sellers list their home below market value to drum up multiple offers, so even though it seems like you’re offering high, your offer might be in line with the home’s actual value. In the end, a home’s worth simply depends on what a buyer is willing to pay and what a seller is willing to accept. If you have any questions about purchasing a home in today’s market or about real estate in general, please give us a call at 800-214-1245 or visit our website at TheDaileyGroup.com. The Dailey Group is here to help you and those you care about move with confidence!…

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Before moving day arrives, don’t forget to do these five steps. Moving from one home to the next is a complex and often stressful process. In all the hustle and bustle, it’s easy to let certain things slip your mind. And a few things tend to be forgotten more often than others. Here are the top five most commonly forgotten steps people must follow before moving day arrives: 1. Find the nearest branch of your bank or transfer to a new bank. Before you move, you should locate a branch of your current bank that’s near your new home. If there isn’t one, then you’ll need to find a new bank altogether. 2. Find new medical providers. Assuming you’ve moved too far away to continue seeing your old medical providers, you’ll need to find a new doctor, dentist, optometrist, etc., before you make your big move. Don’t forget to have all of your medical records transferred over once you do. “Especially if you’ve got a long drive ahead, making sure your car is in good working order before a move can save you a lot of time, stress, and money later on.” 3. Transfer memberships to gyms and clubs. If you belong to any gyms or clubs, don’t forget to cancel or transfer your membership before you move. 4. Raid your kitchen. Something many homeowners forget to do before moving is to thaw out, use, and throw away everything currently in their freezer and refrigerator. As for food in your pantry, why not donate any non-perishable items you don’t plan to use? You should probably start this process about a month before moving. 5. Have your car tuned up. Especially if you’ve got a long drive ahead, making sure your car is in good working order before a move can save you a lot of time, stress, and money later on. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.…

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The 5 Biggest Mistakes Home Sellers Make

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When selling your home, making any of these five mistakes in the process will prove costly. It’s no secret that preparing your home for the market is stressful, but you can minimize your stress and pave the way for a smooth selling process by avoiding these five common mistakes: 1. Overpricing your home. I can’t stress enough how important it is to price your home correctly from the start. Even a poorly marketed home that’s priced right will sell—it just might take a little time. 2. Failing to make simple repairs. You know what I’m referring to—a spot that your pet chewed on or that minor repair project you have yet to get around to. You can be sure that buyers will notice the little things immediately, so now’s the time to get them taken care of. 3. Neglecting to declutter your home. Most buyers start their home search online, and if your pictures show off your stuff rather than your space, chances are buyers won’t give your home a second glance. Round up your belongings, pack them into boxes, and place it all in storage before you start welcoming buyers into your home. “The only thing that matters is that you’re able to sell the home for the price you’re aiming for.” 4. Not allowing adequate access to your home. I’ve found that for every 10 times a seller turns away a showing, eight of those buyers either won’t come back or their agent won’t call to reschedule. The success of your sale depends on your willingness to be flexible with showings. Your home needs to be show-ready when a buyer wants to see it—not when it’s convenient for you. 5. Getting super emotional about your home. Understandably, you’ve probably formed an attachment to your home. Now that it’s on the market, though, you need to think of it as a product you’re selling. If you get a lowball offer or the buyer wants to do some remodeling, don’t take it personally. The only thing that matters is that you’re able to sell the home for the price you’re aiming for. If you have any questions about selling your home or there’s a topic you’d like to hear us cover in a future video, give us a call or drop us an email. The Dailey Group is here to help you and those you care about move with confidence!…

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