changescapeweb, Author at Sandra Meranda

March 9, 2011 by changescapeweb Leave a Comment

5 Tax Tips, Tricks and Traps for Homeowners

Since we are in the middle of tax season, I thought it would be good to review some important tax considerations for homeowners. One of the great reasons for owning a home are the tax deductions! Homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns.

Some of the best tax tips for homeowners are:

1. Itemize your tax return so you can claim your deductions.

2. Plan ahead for that home office deduction

3. Tax relief for loan modifications, short sales and foreclosures through 2012

4. Consider Income tax consequences of a refinance or Property tax appeal

5. Remember the closing costs!

You can see the complete article on the these tax tips for homeowners here.

Buying a home is an exciting time and a wonderful opportunity. Working with a real estate expert can make it a much easier and less scary endeavor, and can likely help to save you money and headaches down the road.

If you're thinking about buying or selling a home, call me and "I'll get you moving!".

February 27, 2011 by changescapeweb Leave a Comment

Insider Tips for Buying Your First Home

I came across a great article that provides some great insider tips that can help you make decisions at any phase of the home buying process! So when you are thinking about buying a home in St. Charles or St. Louis County, please keep these in mind.

Buying a home is a process that can take months to happen. It's important to recognize this process and key considerations along the way.

Stage One: Deciding if is time to buy – Affordability is high, but don't make the decision just based on the market. Personal considerations such as you life plans, family plans, career plans and financial plans should really be the driver in decision making.

Stage Two: Getting Pre-Approved for your Mortgage – Work with a mortgage broker referred by your real estate agent

Stage Three: House Hunting – it's not always the case that foreclosed homes or short sales – homes which are being sold for less than what the seller owes on their mortgage(s) – offer the buyer a fabulous discount. You can sometimes negotiate a better deal with an individual seller on a "regular" sale than with a bank on a distressed home sale.

Stage Four: Negotiations – Everyone seems to be an armchair economist/real estate savant. Don't let your family and friends can cause you to lose your dream home. Work with your real estate broker or agent to develop a smart strategy – with their experience in your local market – about what price and terms to offer.

Stage Five: Escrow, Inspections and Underwriting: Please attend your home inspections. Home inspectors can help you understand the details and nuances of the home's features and condition, where you're going to require maintenance, can help you understand the costs of the repairs, and refer you to contractors that they trust.

If you're thinking about buying or selling a home, call me and "I'll get you moving!".

Read the full article Surprising Insider Secrets for the 5 Stages of Buying Your First Home

February 12, 2011 by changescapeweb Leave a Comment

Cheaper to Buy a Home than to Rent

For most people, living in most locations it is still cheaper to buy a home rather than rent. No doubt that there are some interesting dynamics at play, but here are a couple of main points:

Many former homeowners have flooded the rental market, making renting a more expensive option.
Availability and Affordability of homes on the market

According to Trulia, in most of the 50 largest cities in the U.S., it is cheaper to buy a home rather than rent. "Since the start of the 'Great Recession,' many former homeowners have flooded the rental market. Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets," said Pete Flint, CEO and co-founder of Trulia, in a statement.

Also, stricter bank lending practices have made it more difficult for many potential homeowners to get a mortgage loan. Meanwhile, owning a home is more affordable in most cities. It's a great time for lifelong renters to become homeowners by taking advantage of the affordability and availability of homes on the market.

To see if home ownership is right for you, it is important to work with the right agent and the right mortgage company. If you are interested in buying a home in St. Charles or St. Louis County, please contact me and I'll get you moving!

Trulia's rent vs. buy index compares the median list price with the median rent on two-bedroom apartments, condominiums and townhomes listed on Trulia.com as of Jan. 10, 2011. It considers the total cost of homeownership compared to the total cost of renting.

Click here to read the full article from Inman News™

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