Real Estate Information Archive

If you’re one of the many who have recently taken advantage of the first-time or move-up home buyer tax credit, there’s a happy move in your future. Unfortunately, I’ve seen the stresses of moving cast a cloud over the excitement my clients feel about heading to their new home, making for a nightmarish experience instead of a momentous occasion.

Thanks to my network of leading real estate professionals, the Top 5 in Real Estate Network®, and my relationships with top moving experts, I can offer several tips to make moving a more streamlined, more palatable experience:

• Put your move details in writing.
Use a large notebook or binder to centralize all the important details of your move. It should contain detailed lists, including an inventory of boxes. Supplement this with a computer printout of box contents and e-mail it to yourself and a couple of other trusted sources as a back-up.

• Order boxes and moving supplies as far in advance as possible.
It’s never too early to start packing as we all have items that are not currently in use—think winter clothes, your baseball card collection, holiday decorations. Moving companies may allow you to return unused boxes, so order more than you think you'll need, by 20%. Invest in the right tape to keep boxes securely fastened, some new Sharpie pens, and labels to color-code your move.

• Document your AV details.
Take photos and notes on how your media equipment is set up: television, sound equipment, computer equipment, etc., in order to avoid an AV nightmare in your new home. Label all remotes and wires as well.

• Plan for your pets.
Moving can be particularly stressful for animals. Consider leaving them with a friend or at a reputable pet boarding service.

• Plan for valuables and critical documents.
Most homeowners insurance will not cover property in transit, so consider insuring certain items separately. Take photos for documentation to support loss or damage claims, and carry irreplaceable and legal items, like passports and birth certificates, with you.

• Choose a reputable moving company.
Good companies that can guide you through the process will have a proven track record. Ask your friends and your real estate agent for referrals.

• Keep your moving receipts for income tax deductions.
In many cases, moving expenses are deductible from federal income taxes. If you are moving because of a change in employment, you may be able to claim this deduction even if you do not itemize.

For more information on making your move as painless as possible, please e-mail me—and please feel free to forward these tips to any family and friends with a move in their future.

Top 5 Reasons Why Now Is the Best Time to Buy a Second Home

With all the negative news about the economy and the real estate market, in particular, there’s a good chance you’ve put any ideas of buying a second home on permanent hold.

As a Member of the Top 5 in Real Estate Network®, however, I can tell you that just the opposite is true. The reality is that now is the best possible time to shop for a second home, whether it be the vacation spot you’ve always dreamed of, a retirement home or an investment purchase. Or, if you’ve thought that a second home was not a possibility for you, it just might be now. Here’s why:

1. Just about across the board, prices are down…in some spots, they are actually down to 2001 levels. Those of you who may have been priced out of the market in past years are suddenly back in.

2. Mortgage rates are sticking at about 5%. This won’t last forever, however, especially as the market slowly starts its climb upwards.

3. If you're able to itemize deductions on your tax return, then the interest expense on your second mortgage is tax deductible.

4. If you’re buying in a popular vacation spot—such as on the shore, in the mountains, near a lake, in the city—then you can rest assured that your investment will increase as the market continues to recover.

5. If you’re not ready to retire or take advantage of a second home yet, bear in mind you’re creating an excellent source of additional income in terms of rental revenue…something we can all use in today’s economy. Consider making this purchase now, while conditions are favorable for buyers, rent it out, and then enjoy your home when the time comes.

I’ve seen many a savvy client take advantage of today’s market to make a desired lifestyle change or an investment that will pay dividends when the market picks up. Don’t let the media negativity prevent you from missing this great opportunity to buy a second home. Please e-mail me for more information and pass this article along to friends and family who might also find it helpful.

Interested in knowing six fantastic steps to a quicker sale in today's buyers market?  Check out the link below for some great tips!!

View Video Here

Courtesy: Mike Parker
Top 5 Real Estate Network

The Northern Kentucky 2009 Real Estate Market numbers are in and we would like to share them with you.  These numbers are taken from the Northern Kentucky Multiple Listing Service as of February 6, 2009.

Residential Property SOLD in 2008  - 5,142 Units

Residential Property SOLD in 2009 - 4,852 Units

THIS TOTALS TO a -5.65% DECREASE from 2008

Average Price SOLD in 2008 - $160,531

Average Price SOLD in 2009 - $139,537

THIS TOTALS TO A -13.08% DECREASE from 2008

Median Price in 2008 - $132,000

Median Price in 2009 - $126,600

THIS TOTALS TO A -4.17% DECREASE from 2008

Total Dollar Volume for 2008 - $825,452,718

Total Dollar Volume for 2009 - $677,032,211

THIS TOTALS TO A -17.98 DECREASE in SALES VOLUME

Northern Kentucky got hit pretty hard the first part of 2009 until about mid-year.  Currently, the market is brisk due to the $8,000 and $6,500 tax deduction.  REMEMBER, now is an EXCELLENT time to buy!!  In order to take advantage of the tax credit you must have a SIGNED contract by April 30, 2010 and close by June 2010.  Questions about the tax credit?  Click Here for more information!!!

For Northern Kentucky properties currently for sale, Click Here.

For The Mike Parker Team properties for sale, Click Here.

For Northern Kentucky properties currently for sale by SCHOOL DISTRICT, Click Here.

We can help you find any home in the Greater Cincinnati/Northern Kentucky area!!  Contact Us today!!

How to Help Your Home Stand Out and Sell Faster

In today’s buyers market, home-selling clients are always asking me what they can do to help their homes stand apart from the competition. As a Member of the Top 5 in Real Estate Network(R), I have seen how effective home staging can make all the difference in not only a quicker sale but a more profitable sale, as well.

First, it’s important to realize that home staging does not refer to the usual steps taken when your home is placed on the market, like painting the front door, taking away personal photos, and baking something in the oven. Staging, rather, is the professional merchandising of your home, which helps create an instant connection with potential buyers as they walk through the door. Just as new homebuilders create a model home for buyers to envision themselves living in, home staging does the same for your existing home.

Here are some important facts to be aware of before embarking on the home-staging process:

1. Make sure your home stager is knowledgeable about real estate and, in particular, your local market. Knowing what other homes in your area sold quickly provides the stager with important clues as to what buyers are attracted to.

2. Real estate agents, especially Top 5 Members like me, are excellent sources for referrals on home stagers in your area. Be sure to ask your neighbors as well.

3. Staging seeks to minimize the furniture in any given room in order to create the right spacing, while displaying as much floor space as possible. Be prepared with a convenient storage solution before you begin the staging process.

4. According to the International Association of Home Staging Professionals (IAHSPR), there is a growing trend toward eco-friendly home staging, where stagers provide specific “green” materials to sellers. This creates unique appeal to today’s environmentally conscious consumers.

5. Home staging is also on the rise among short sale and foreclosure properties where homes might be in need of special care. If you are in a financially challenged situation and need to sell your home, talk to your real estate professional about staging. Certain lenders are working with stagers in order to expedite these types of sales.

In the current real estate climate, homes must be merchandised and marketed wisely. Please e-mail me to find out how staging can make a significant impact on the outcome of your home sale…and please forward this email to anyone else who might be in need of home staging.

 The IRS has now updated their posting for the First Time Home Buyers Credit form that has to be used for sales after November 6^th (date of new enactment).  Originally the form was going to be ready in December.  Then it was “January 8^th”.  Now they are saying “Soon”.  When the form does become available you can access it at www.irs.gov and the link is on the upper left-hand side under “Top Forms and Publications”.  It is Form 5405.  Even if you use a tax preparer it would be good for the taxpayer to review the new requirements so they can gather the necessary info for the preparer.

If you’re like most people, one thing that always makes your New Year’s resolution list is, “Get more organized.” In today’s hectic and often challenging lifestyle pace, staying organized provides an important sense of control and ensures you stay on track toward important goals.

As a Member of the Top 5 in Real Estate Network®, I know that organization is the key to success, both at home and on the job.  Here are 10 tips for kicking off a well-organized year:

•Box it up right – Begin by stowing away the holiday décor in well-marked and sorted boxes. Try using empty wine cartons (you can probably get them free from your local liquor store) for fragile ornaments, and buy a few plastic storage cases that can be stacked and stored out of the way.

•Make some lists – Add any new names to your card and gift list, so that you are ready for next year.

•Get a new calendar – first, transfer in all birthdays and other important dates you want to be sure to remember.

•Schedule it – then begin scheduling annual medical, dental and veterinarian appointments for the family and pets, and note any other dates you want to remember, such as car maintenance, registration times, etc.

•Get it on sale – Get a head start on next year by taking advantage of after-holiday sales on wrapping paper, cards and gifts.

•Budget for next year – Take a look at your receipts to see how much you spent this year; then divide by twelve and begin a savings plan to help you get there stress-free.

•Hidden agenda – Designate a private spot for storing gifts you buy when they are on sale during the year. Keep a note in your wallet listing what you buy and for whom.

•Be tax ready – Create a folder or storage box for all receipts, check stubs, and other materials you will need when tax season rolls around. Make this the year you throw everything into the designated file or box.

•Be car ready – Keep a box in your trunk to hold blankets, umbrellas, diapers, flashlight and anything else you may want to have handy in an emergency.

•Check on your resolutions – Keep a written list of what you want to accomplish this year: losing weight, eating better, exercising, or even being more organized. Check the list each month to see how well you are doing.

While it seems impossible at times, staying organized is simpler than you think—and the rewards are tremendous—so forward these great tips to your family and friends. Wishing you a happy and healthy 2010 and be sure to e-mail me for any real estate-related assistance you may need in the New Year.

Come One....Come All...Bring Your Family and Your Friends!!!!! 

Earlier this week, the U.S. Senate passed an extension and expansion of the homebuyer tax credit. Yesterday, the House of Representatives approved the agreement reached in the Senate.  The bill has now passed both chambers and is awaiting the President's signature. 

The following explains the expansions and extentions of the tax credit:

1. The $8,000 tax credit will be extended and available for first-time purchases before May 1, 2010.

2. A new $6,500 tax credit will be available for repeat buyers who purchase between December 1, 2009, and May 1, 2010. To qualify for this provision, buyers must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.

3. Prospective purchasers with binding contracts in place as of April 30, 2010, will be allowed an additional 60 days to complete   the transaction.

4. Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.

If you know of anyone in the market to buy or sell or you are interested in taking advantages of these incredible tax credits, please contact us today!!  We can help you find your new home in both the Greater Cincinnati areas and Northern Kentucky area!!!  Remember now is the time to buy, interest rates are very low and prices are down!!