The Eric Stewart Group Blog
Trusted resource for local and national real estate news and trending topics, and everything you need to know about the buying and selling process.
If you are preparing to sell your home, you should be aware of the capital gains tax implications. There is a good chance that you will not owe any capital gains taxes on the sale of your principal residence if you meet certain federal requirements. And, if you do, the amount of capital gains that you pay on will be significantly reduced.
Earnest money deposits are one of the most critical parts of the home buying process. To show a seller that an offer is serious and made in good faith, a prospective homebuyer will include a check with their offer, for typically 1-2% of the purchase price.
Our Market Ready Guide provides strategic advice and useful tips to get top dollar for your house when the time comes to sell.
Is sustainability important to buyers? When you are buying a home, the financial vernacular can get a little confusing. You have heard of earnest money deposits and down payments, but do you need one over the other? Do you need to accommodate for both? Are they the same thing?
If you are purchasing a home and financing it with a mortgage, the bank will require an appraisal of the property to determine its market value. The dollar amount the bank will lend you is based on the appraised value of the house rather than the agreed upon purchase price between the buyer and the seller.
Let’s face it: Buying a home is a major investment. However, for many people it can end up being more expensive than it needs to be due to some costly mistakes. Here are eight blunders to avoid, and some helpful tips that could mean the difference between financial security and financial distress.
One part art, one part science, determining the correct selling price of your home is no easy task. Yet, it is one of the most important factors to get right if you want a timely sale at an optimal price. Determining the best offer price should be dictated by the market. Some sellers may choose to ignore the market and start with a higher sales price, but to do so is risky, and a decision most people end up regretting. What are 6 risks that sellers may face if they overprice their home? Read on to find out.
If your home has gone under contract, you are now in the home stretch of your real estate sale. However, there are still a few hurdles that could potentially kill the transaction. One of these is a low appraisal.
Over the past decade, reverse mortgages have been aggressively pitched in TV ads as an easy way for seniors to cash in their home equity to pay for living expenses. In reality, reverse mortgages can be a good option for seniors in certain economic situations, providing greater financial security and allowing them to age in place. In other circumstances, it could potentially create financial distress and keep seniors trapped in a home that no longer suits their physical needs.
Rising prices and a dearth of homes for sale in some markets have made it harder for many looking to buy their first home. One of the biggest obstacles many are facing is saving up for a down payment, particularly in hotter markets where competition for the more affordable homes can quickly drive up prices and put pressure on buyers to bring more cash up front. That trend is prompting many parents to step in, some opening their wallets, others welcoming their adult children to live with them again temporarily while they save money or pay down debt.
According to CoreLogic, a real estate analytics firm, 14 of the top 100 real estate markets in the U.S. are overvalued, which is more than double the number that were at the end of first quarter 2015. An overvalued housing market has home prices that are 10% or more above the long-term sustainable level.