Homeownership would no longer be a priority in the tax code if a reform plan released Wednesday by the Trump administration and congressional Republicans becomes law. The “Tax Reform Unified Framework,” known as the “Big 6” tax reform plan, is being touted as a way to cut taxes for the middle class. But it could hurt residential real estate by eliminating most itemized deductions in return for an increase in the standard deduction.Althoug
6 things would-be licensees should know before they start the processKey Takeaways It takes longer and costs a lot more to get a license and close your first deal than many realize. Make a financial plan, and choose the right brokerage for you.The million dollar listers, flippers and fixer-uppers on TV make real estate look glamorous, easy and fun. You get to make huge amounts of money on one deal, exercise your creative and design muscles and me
Think about the most enjoyable aspects of what you do, and see where it leads youKey Takeaways By mixing your passions with the reality of your market’s needs, your niche market will provide you with additional income and make going to work more enjoyable.What do you want to be when you grow up? Ask any child that, and you’ll be met with a plethora of hysterically optimistic answers.As a kid, I wanted to grow up to be an Olympic Gold-medal-wi
Minimize some of the roadblocks along the path to happy homeownershipFirst-time homebuyers make mistakes going into the homebuying process, throughout the process and even after they purchase a new home. Because they’ve never done it before!Here are 24 mistakes that I’ve observed and some tips on how to help rookie buyers avoid making them.Pre-purchase mistakes: Not knowing their true budget. Homebuyers should crunch their monthly number
Know your strengths, and find a way to communicate themKey Takeaways To warm up potential clients with your video bio, look your best, focus on your UVP and stay away from sounding scripted.Having a client contact you to do business because she already feels like she knows, likes and trusts you after seeing you online is the dream, right? One of the best ways to establish that rapport is to create video.Even though most buyers and sellers still f
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Lenders reportedly are loosening their standards to qualify for a mortgage. Fannie Mae’s third-quarter 2017 Mortgage Lender Sentiment Survey shows the main reason behind the easing of credit has been the increased competition that lenders are feeling.Across all loan types—GSE-eligible, non-GSE-eligible, and government—lenders reported easing credit standards over the last three months. Further, the net share of lenders who say they expect t
Millennials’ desire for smaller homes may have a big impact on the future demand of some of the most popular homes today.Young adults are getting married later in life, they’re delaying their first home purchase (often due to student loan debt) by up to seven years in some cases, and they’re also having children later in life.The U.S. fertility rate has plunged to its lowest level since the Centers for Disease Control began tracking such d
First-time home buyers comprised 31 percent of closed sales in August, according to the REALTORS® Confidence Index Survey. While the share of first-time buyers has seen gradual improvement since the lows of less than 30 percent in 2013, many potential buyers still are on the sidelines, according to the National Association of REALTORS®’ report.The homeownership rate in the second quarter for those under the age of 35 only increased slightly
The exterior of the home counts big for creating first impressions. Indeed, 99 percent of real estate pros say that curb appeal is a critical factor in attracting a buyer, according to the National Association of REALTORS®’ 2016 Remodeling Impact: Outdoor Features survey.Here are a few things you can do to enhance the curb appeal to your listing:1. Paint colorful flowers.Adding colorful flowers, like yellows or pinks, to your landscaping can
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