Selling Your Home? 10 Tax Tips you should know about.

Ten Tax Tips for Individuals Selling Their Home

[Susan Antigone - ShoreFun4U with Long & Foster Real Estate.  Selling your home, take the capital gains and do a 1031 exchange for a beach home for future retirement or investment.  Serving Ocean City MD and DE Coastal Beach Resorts]

If you’re selling your main home sometime this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have to report it as income.

Here are 10 tips from the IRS to keep in mind when selling your home.

1. If you sell your home at a gain, you may be able to exclude part or all of the profit from your income. This rule generally applies if you’ve owned and used the property as your main home for at least two out of the five years before the date of sale.
   
2. You normally can exclude up to $250,000 of the gain from your income ($500,000 on a joint return). This excluded gain is also not subject to the new Net Investment Income Tax, which is effective in 2013.
   
3. If you can exclude all of the gain, you probably don’t need to report the sale of your home on your tax return.
   
4. If you can’t exclude all of the gain, or you choose not to exclude it, you’ll need to report the sale of your home on your tax return. You’ll also have to report the sale if you received a Form 1099-S, Proceeds From Real Estate Transactions.
   
5. Use IRS e-file to prepare and file your 2013 tax return next year. E-file software will do most of the work for you. If you prepare a paper return, use the worksheets in Publication 523, Selling Your Home, to figure the gain (or loss) on the sale. The booklet also will help you determine how much of the gain you can exclude.
   
6. Generally, you can exclude a gain from the sale of only one main home per two-year period.
   
7. If you have more than one home, you can exclude a gain only from the sale of your main home. You must pay tax on the gain from selling any other home. If you have two homes and live in both of them, your main home is usually the one you live in most of the time.
   
8. Special rules may apply when you sell a home for which you received the first-time homebuyer credit. See Publication 523 for details.
   
9. You cannot deduct a loss from the sale of your main home.
   
10. When you sell your home and move, be sure to update your address with the IRS and the U.S. Postal Service. File Form 8822, Change of Address, to notify the IRS.

For more information on this topic, see Publication 523. It’s available at IRS.gov or by calling 800-TAX-FORM (800-829-3676). 

What's Right For You? 10 Reasons Why Homeowners Have an Edge on Renters.

10 Reasons Why Homeowners Have an Edge on Renters

By U.S. News   | Posted Apr 21st 2014 9:03AM

[Is a second home - a vacation home - in the cards for you?  Does it make sense as an investment or as a future retirement option?   Are you wanting to create summer vacation traditions?   Check out homes at the MD and DE shore - Ask for a FREE "Homes by Email' portal from our Long & Foster Real Estate site to search around.  Call Susan Antigone - ShoreFun4U for advice and a tour.  Your Beach Home Town Advocate and Specialist - Ocean City MD and DE Beach Resorts.]

.

By Kimberly Palmer
Homebuying has earned a bad rap in recent years: The subprime mortgage crisis and ensuing economic meltdown left many homeowners underwater, unable to pay their mortgage and even facing foreclosure. Homeownership rates fell throughout the recession and got down to about 65 percent, compared with almost 70 percent before the recession, according to the Census Bureau. While record low interest rates helped entice homebuyers, the bureau reports that the homeownership rate remains relatively low, at 65.2 percent in the fourth quarter of 2013.

If you're among those struggling to decide whether to buy versus rent, consider these 10 reasons to take the plunge into homeownership:

1. You can ramp up energy efficiency. Energy-efficient improvements, from adding insulation to upgrading your air-conditioning unit, can reduce your monthly utility bill, says Jane Hodges, author of the book "Rent vs. Own." While renters can make plenty of green improvements on their own, from unplugging appliances to turning off lights, homeowners can make bigger changes, such as

"Lock in a low monthly payment, and you've just taken a huge step in protecting your family against inflation."

 adding solar panels or installing an energy-efficient roof. (Of course, a renter living in a one-bedroom apartment likely uses far less energy than a homeowner in a three-bedroom house, so size can trump energy improvements.)

2. You can customize your space.Whether you need to knock down a wall to make a larger master bedroom or redo the bathroom to reflect your art deco tastes, owning the space you live in means you have the freedom to do so, without worrying about losing your security deposit.

3. Homeowners buy less furniture. "Often when you're renting you need custom furniture that fits the space," Hodges says, such as room dividers for a loft or miniature furniture to fit into a basement apartment. "When people move a lot, they can end up buying a lot of furniture," she says. If you buy a home and settle in for the long haul, you can likely purchase a few pieces that will stick around.

4. Owning a home forces you to save. The so-called "forced savings" argument is a widely-held one: Since homeowners have to pay their mortgage every month, they are routinely putting money away (and into their house, which they own), instead of squandering it on new shoes or fancy meals. Then, if you eventually sell your home after the mortgage is paid off, there's a good chance that "you'll walk away with a payoff," even after subtracting the costs of ownership, Hodges says. (Of course, homeowners who face foreclosure or declining home values often find themselves without such equity to show for their monthly mortgage payments.)

5. Homeownership allows you to build a second income stream. From taking in a renter in a spare bedroom to renting out driveway space to commuters, Hodges says homeowners are increasingly finding ways to monetize their homes. In cities with scant green space, some homeowners even rent out small patches of grass for people who want to grow vegetables.

6. No landlord can kick you out. Renters can face an unexpected eviction notice if their landlord suddenly decides to sell the home, rent to someone else or otherwise end the lease. That's one reason Boston University economics professor Laurence Kotlikoff says that for older people with a fixed income in particular, he recommends homeownership (and a paid-off mortgage). "It's important for older people to be in a home that they own as security against a landlord," he says.

7. In fact, you don't have to speak to a landlord, ever again. Landlords can take ages to fix a broken dishwasher, let the air vents fill with dust and particles, or leave pesky messages about repairs. If you're the homeowner, then you're in charge – which means you have to be home when the plumber calls, but the plumber reports to you. (And, of course, you also have to pay the plumber.)

8. Unlike rent, a fixed mortgage can't go up (even if inflation does). Fixed mortgage rates don't go up, even if the cost of everything else does. To protect yourself, Jack Otter, author of "Worth It ... Not Worth It?" suggests making a 20 percent down payment and taking out a 30-year fixed mortgage to lock in today's low interest rates. "Mortgage rates haven't been this low since GIs were heading home from France. Lock in a low monthly payment, and you've just taken a huge step in protecting your family against inflation," he writes in his book.

9. Homeowners can take tax deductions. The chief tax benefit of homeownership is the ability to deduct mortgage interest payments, but the perks don't stop there. Homeowners can also deduct eligible expenses (certain energy-efficient improvements, for example) and in some cases can avoid federal taxes on earnings from the sale of a home.

10. You can take advantage of currently low interest rates and prices. Despite creeping back up, interest rates remain relatively low from a historical perspective, and at the same time, home prices in many areas remain soft. That can make for an appealing buyer's market. Of course, buying isn't for everyone. If you might move soon or you want the flexibility to upgrade your digs with just a month's notice or your job outlook is uncertain, then renting can be ideal. Hodges says potential buyers should first consider the transaction costs of homeownership, which can add up quickly, especially if a buyer doesn't plan to stay put for very long.

"During the bubble, people were looking at homes as a tool to make money," Hodges says. Now, they just see them as a place to live.

Filed under: News, Advice, Buying

Tags: home buying, homebuying tips, HomeOwnership, renting vs. owning

Are Buyers Too Afraid of Mortgage Rejection?



Ocean City MD - Susan Antigone - ShoreFun4U with Long & Foster Real Estate.   Your Beach Home Tolwn Advocate and Specialist.    Loan options exist ... we work to help you get through the loan process with a minimum of hassle.  

Are Buyers Too Afraid of Mortgage Rejection?

DAILY REAL ESTATE NEWS | MONDAY, APRIL 28, 2014

Fifty-six percent of all potential home buyers—those who want to buy a home within the next 24 months—say they’re waiting to purchase because they fear being rejected by lenders. What’s more, 30 percent of current home owners say they don’t think they could qualify for another loan, according to a national consumer survey of more than 1,000 Americans by the firm OmniTel.

The survey also found that 74 percent of potential buyers who need a mortgage say they have not taken the steps to qualify or investigated the mortgage process yet. The survey showed that many potential buyers believe they need nearly perfect credit scores to qualify for a mortgage today. Eighteen percent say they believe borrowers need a minimum FICO score of 770 or higher to qualify. Also, about a third of potential buyers say they believe their debt-to-income ratios are too high to qualify.

But these fears may be overblown. Ellie Mae, which provides a loan origination and tracking software for the mortgage industry, says that 33 percent of all new loans in March had borrower FICO scores below 700. The percentage has been growing, too—a year ago it was 27 percent. The Federal Housing Administration insured loans with average FICO scores of 684 in March. For conventional mortgages, the average remains higher at 755, but is down from 759 a year ago.

Debt-to-income ratios aren’t as strict as most potential buyers believe either. FHA’s average ratio in March for purchase loans was 28 percent; Fannie Mae- and Freddie Mac-backed loans averaged 22 percent, according to Ellie Mae data.

Source: “Mortgages Are Easier to Obtain Than Many Prospective Home Buyers Might Expect,” The Washington Post (April 25, 2014)

Vacation Home Tip Sheet

Vacation Home Tip Sheet



[Ocean City MD and Delaware Beach Resorts are wonderful markets to buy a vacation home for your family.    This home can be an investment property - rent it out to help pay the mortgage but still have family vacation time - and it's also a good time to think about Retirement options at the Shore.   I can help you decide if now is a good time for you to make this purchase.  Call or email.  Susan Antigone - ShoreFun4U with Long & Foster Real Estate in OCMD.   Your Beach Home Town Specialist & Advocate.]     

While winter’s chill is still in the air, spring is just days away and vacation-home shoppers are itching to find their slice of paradise.

Help your contacts understand the differences in making this type of purchase versus a primary residence. Here are six key criteria to assess vacation choices, whether for personal use or an investment.

1. Keep costs within the budget. Advise buyers to qualify for a loan before looking, unless they pay all cash, says sales associate Nichi Dunphy with Better Homes & Gardens Real Estate, Gary Greene, in Galveston, Texas. Then, help clients understand how much discretionary income they’ll need, says Edward Kohlhepp, president of Kohlhepp Investment Advisors in Doylestown, Pa. For example, they’ll need at least $30,000 annually to afford a $500,000 home comfortably, he says. Why so much? To cover the monthly mortgage, real estate taxes, assessments, regular maintenance, homeowners’ insurance, flood insurance, furnishings, a caretaker to watch the property if the owners don’t live nearby, an emergency fund for disasters and major repairs, and travel costs. Also critical, he says, is that buyers not use retirement funds to fund the home; there’s never a guarantee they’ll recoup their money by renting out the property to vacationers.

The good news, however, is that vacation homes come in many sizes and types — houses as big as the swanky Hamptons, N.Y., beach home in the movie “Something’s Gotta Give,” to itsy-bitsy mobile cottages like Escape, which measure under 400 square feet, are energy-efficient and can be set up in a day.

2. Determine the frequency of use. The amount of time your clients will spend in their vacation home depends on the individual and family and the investment and rental potential. Some think they need to go every weekend to justify the expenses, while others are fine just visiting in summer or winter. Distance will play a factor for your clients. “Driving one to two hours from Houston to Galveston is easy, but from Dallas that can mean five hours,” Dunphy says. Some clients may also hope their grown children and grandkids will visit for multigenerational gatherings, so you’ll want to work with them on finding the best second-home location to make that practical.

3. Pick the right location. What makes one vacation locale more appealing to buyers than another largely depends on the clients’ interests. In Sonoma, Calif.’s wine country, a typical buyer’s wish list includes a departure from the urban life that many commute from, along with mountain or vineyard views and room for guests, says Gerrett Snedaker, CRB, senior vice president of North Bay Wine Country Group, Better Homes & Gardens Real Estate, Sonoma. While in Benton Harbor, Mich., there are multiple attractions of water, beaches, an 18-hole, PGA-quality golf course, wine trail, and proximity to many cities such as Detroit, Chicago, and Indianapolis, says Kerry Wright, a broker with Harbor Shores.

4. Understand upkeep. A big lawn needs mowing, lots of square footage means more cleaning, a pool requires maintenance — make sure your clients have a realistic picture of the upkeep a property will require. “I’m definitely hearing buyers think more about care. They’ll say, ‘This siding has to be painted every few years, while vinyl wouldn’t,’” Dunphy says. Some communities like Harbor Shores are trying to remove some of the burden by offering landscape services through its homeowners’ association and by developing smaller, more efficient homes and condos, says Wright.

5. Research rental potential and costs. If income is the prime motivation, buyers should know that demand and dollars fluctuate with the economy, weather, location, number of bedrooms and bathrooms, and amenities. Buyers need to remove emotion from their purchase choice and pick what appeals to the widest target market rather than what they want for themselves, says Heather Bayer, a blogger with Vacationhomerentals.com. “In Orlando, even if close to the Disney amusement parks, a house should have a pool and southern exposure and be large enough to accommodate a family,” she says. Buyers also need to know whether their homeowners’ association permits renting out a property, what their own comfort level is about having children or pets in tow, and whether they’ll need to split proceeds with a rental service or property manager — sometimes by as much as 50 percent of the take. They’ll also need renter’s insurance.

6. Think about resale and changing needs. Help potential home owners research sales, prices, and trends. Condos, which have seen their popularity rise and fall in Galveston, are desirable once again, and the city now benefits from the proximity of Houston, which has become one of the country’s hottest markets. “We have 48,000 living here year round, but that swells to more than 100,000 in summer,” Dunphy says. Family needs also change. Little kids may willingly head out with parents but teenagers less so, and multigenerational families often require more space.

Having a keen understanding of your second-home market coupled with meeting the needs of your individual clients will help you help them find success with a vacation property.

Getting Ready to Sell? What to Fix and What to Skip

Getting Ready to Sell? 

What to Fix and What to Skip

[Ocean City, MD.   Susan Antigone - ShoreFun4U.                                                                                                                         

Buying and Selling a home at the beach - know what to look for and what not to waste your time on]

Thinking of selling your home?  Is now the right time?

That’s the question on homeowners’ minds as house prices just realized their largest annual gain since 2005. Congrats to those no longer “under water” on their mortgages, even as interest rates remain tantalizingly low. But here’s the catch: Those same higher prices can make buyers as choosy as a restaurant reviewer.

“A house with a $1,600 mortgage payment last year now has a $2,000 mortgage payment,” one broker told the Wall Street Journal. “Buyers are saying, ‘I better like it.’”

To increase your home’s “like” frequency, read on to see which upgrades are worth making and which are really not.  You may be surprised.

Worth It: A new front door. Strictly in terms of return on investment, a steel
one topped the list of Remodeling magazine’s annual “Cost vs.  Value Report for 2014” – recouping 96.6% of the average price. But, a fresh coat of paint can work wonders, too.

Not Worth It: A home-office remodel. We know what you’re thinking: With so many more people working from home, wouldn’t it be brilliant to rewire the
space for electronic equipment, say, and install commercial-grade carpeting? Not really. The magazine gave it the lowest return on investment (48.9%).  According to the study’s administrator, “Home offices don’t sell houses.”

Worth It: A back-up power generator. It’s the biggest gainer in the study, jumping 28% over last year, and plays especially well in areas brutalized by storms.

Not Worth It: Major bathroom work. “You could install the most spectacular jetted tub, and it still might not suit a buyer,” says Patsy O’Neill, a sales associate in Montclair, N.J. “Meanwhile, you’d have spent tens of thousands of dollars.”

Worth It: Roofing replacement. There’s a reason this ultimate “curb appeal” enhancer consistently makes Remodeling’s list and is up 11.2% over even last year: A roof is the first thing prospective buyers notice even before exiting their cars, and you can kiss that sale good-bye if yours looks like it’s been through hell.

Not Worth It: Major kitchen renovations. Again, the key word is “major,” and again it’s an issue of individual tastes.

Selling? 12 Ways to Supercharge Your Home OnLine.

12 Ways to Supercharge Your Home’s Online Listing

[Living in Ocean City MD?   Wanting to move to the shore?   Whether you are at the beach or on your way to the shore, getting your home sold is the first step.   The ideas below are helpful to starting on the road successfully.   Whether you are selling or ready to buy, contact Susan Antigone - ShoreFun4U  with Long & Foster Real Estate to help connect the dots and discover if now is the right time for you to  make a move.]

In the past, the description and listing information for your home was limited to a short paragraph on the MLS. It was mostly a guide for agents to gather basic details about your home to share with their client. But now, in the information age, internet home searches are the rule. In fact, more than 90% of all buyers will begin their search online. That means sellers now have the chance to really soup-up their listing, adding all the bells and whistles to help their home jump off the screen. Need help?
Here are 12 tips to supercharge your online listing:

1. Photos – It All Starts Here: Yes, buyers do judge a “book” by its cover, and the photos of your home are the first opportunity you have to attract interested parties. If they’re not good, it can spell disaster for your hopes of a quick sale at your ideal price. Well-shot, high-resolution photographs are critical for snagging buyers. Usually, the realtor is responsible for providing photography. He or she will take them their selves, hire a photographer that specializes in real estate, or use someone that works specifically for the realty company. But this is one case where more is more. Make sure you and your realtor select as many shots as possible; Trulia accepts and posts almost as many as you like. A 15-20 photos is not an uncommon number these days. If you have more than that – and they are great shots – post them.
2. The Money Shot: It’s that one quintessential snap that says “Now this is the house I want to see more of!” And you don’t need a professional camera crew to capture it. Just grab a digital camera and try all the different angles of your house – and don’t forget to play with the lighting by shooting at various times throughout the day. Typically, your money shot is one from the curb – but not taken straight on. Try positioning yourself just slightly to the left or right so you get an angled shot that still shows the entire front of the house. Your realtor should’ve developed a pretty good eye for this and will be able to offer feedback. When we get our own photos taken, we all have “good sides,” and well, houses do too.
3. Kitchen Features: The number one most important room in the house is the kitchen, so give it lots of love in the listing. Highlight new appliances, granite or marble countertops, built-in wine storage, walk-in pantries, etc. And give brand names for upgraded items like a Viking range or Sub-Zero refrigerator. Is there lots of light? A large cooking or prep space? An open floor plan that allows easy access to the dining room or den? Is it perfect for family gatherings or parties? Mention it!
4. The Baths: The second most important room in the house is the master bath. Detail special features such as spa tubs, walk-in showers, dual sinks, spacious dressing areas, etc. Note: A full bath has both a tub and a shower; a three-quarters bath has a tub or shower only; and a half bath contains just a toilet and sink.
5. The Upgrades: This is your chance to talk about any of the elements in the house that have been recently upgraded or remodeled. We’re talking about new roofs or electrical systems, fresh carpet, converted and finished basements or attics, upgraded closets, replastered pools, and so on. Remember, all of these updates allow buyers to keep more money in their pockets when it comes to budgeting for future repairs.
6. Brag About The Original Details: A huge percent of properties that come on the market are older or existing homes, not new builds. It’s important to highlight and celebrate her architectural details and character. A craftsman from the 20s might have original built-in wood carved book shelves. An original Spanish from the 30s could offer up arched doorways. And a mid-century modern from the 50s would want to boast about floor-to-ceiling sliding glass doors.
7. Give A Green Light: Green features are the rage these days – and for good reason. As utility bills soar, and many parts of the county experience extreme weather conditions, any eco-friendly upgrades are a welcome plus. Make sure you mention them in your listing. Solar panels on the roof, self-programing thermostats, additional insulation in attics and crawl spaces, and tankless water heaters all make your home a highly attractive, low-maintenance (and lower-cost) option.
8. You Are Selling A Neighborhood – Not Just A House: It’s all about location, location, location, so talk about your ‘hood. Can you walk to public transportation? Are there outdoor amenities nearby like hiking trails, bike paths, or a community pool? How about the night life, restaurants, and shopping? Is this a safe, low crime neighborhood? If you don’t know, take advantage of Trulia’s crime map to find out. And don’t forget the importance of neighboring medical centers and hospitals.
9. Talk About Your Neighbors Behind Their Back (In A Good Way): Brag about your block if you love your neighbors. Tell potential buyers how great and friendly they are. If you’re on a quiet cul-de-sac that holds a block party once year, let it be known. A great sense of community is a hot commodity.
10. School Time: I can’t tell you how many homebuyers with young children want to find houses in good school districts. In major metropolitan areas, it’s an especially big deal-sealing feature. If your school district is rated as one of the best in the city, get that info into your listing. If you don’t know, go to Trulia to find out how your school district is rated.
11. What’s Trending: A recent Trulia Trends report identified twenty phrases that are strongly trending in the past year, compared with the previous year. Luxury listings are now 78% more likely to mention a marble bath than one year ago, and 30% more likely to mention marble floors. Outdoor space is also surging: roof deck and terrace were 63% and 42% more common, respectively, than they were a year ago. If you have any of these, put them front and center, because people are looking for them. If not, check out the report to see the rest of the search phrases on the rise.
12. Outdoor Living: In many areas of the country, indoor/outdoor living crucial at least six months of the year. And yet, listings barely give that feature a mention. Show off all the outdoor living spaces your home offers like a rocking-chair-ready front porch, a sizzling BBQ area, wrap-around decks, and grassy backyards. Flaunt fenced, private outdoor play areas for children and pets, flower beds and fruit trees, and instead of simply mentioning the “pool,” try inviting buyers to “sunbathe on the the generous deck overlooking the sparking pool.” When it comes to the great outdoors, create an image in buyers’ minds, and sell an alfresco lifestyle – not just a backyard patio.

SELLERS: What are the great things about your for-sale house that you hope house hunters will be excited about?

ALL: You can get more information on my books here, follow me on Twitter@1MichaelCorbett

Mortgage Rates Fall Back to 6-Week Lows - Ocean City MD housing market is ready to go!

Mortgage Rates Fall Back to 6-Week Lows



Time to buy or sell is now in Ocean City MD. Catch those low interest rates and lower your monthly payments. A variety of townhomes, condos, single family houses are on the market and buyers are searching - so it's a good time for both Buyers and Sellers of Real Estate to make a move.  I'll help you decide if now is the time and what is the right path for you to take.  Susan Antigone - ShoreFun4U with Long & Foster in Ocean City MD

Save your money and buy now !

25 killer Pinterest real estate board suggestions | Inman News

25 killer Pinterest real estate board suggestions | Inman News



Show real estate buyers and sellers what is really exciting about the real estate business.



Check out ShoreFun4U - Susan Antigone  Pinterest boards for the beach.

Pinterest Beach Home Photos - ShoreFun4U - Ocean City MD

Pinterest Beach Photos 

Mortgage rates drop in time for spring homebuying - Ocean City MD -ShoreFun4U at the beach

Mortgage rates drop in time for spring homebuying | 2014-04-10 | HousingWire



This means it's a great time to buy a home in Ocean City MD.   Whether you are looking for a townhome, a single family home, or a condominium - homes for sale at the beach make our real estate selection a good opportunity to find what fits your needs.   Check in with Susan Antigone - ShoreFun4U at Long and Foster to find out what is available. Ask for a FREE "Homes by Email' and search our properties from the comfort of your home.

The Home Inspection: Do's and Don'ts, and How To Keep It On The Real....

The Home Inspection: Do's and Don'ts, and How To Keep It On The Real....

Vacation Home Property Sales Surge - Ocean City MD vacation home property sales are increasing

Vacation Home Property Sales Surge

[It's time to think about yourself - and your future dreams for a vacation home, retirement options, investment possibilities.   Want to investigate beach properties?  Ask me for a FREE "Homes by Email" portal and search what is available in Ocean City MD. ] 

     

by The KCM Crewon April 10, 2014in For Buyers, For Sellers 

The American desire to own a second home as a vacation home is alive and well!

The National Association of Realtors analysis of U.S. Census Bureau data shows there are approximately 8 million vacation homes in the U.S. Their 2014 Investment and Vacation Home Buyers Survey shows vacation home sales improved substantially in 2013.

NAR Chief Economist Lawrence Yun said favorable conditions are driving second-home sales:

“Growth in the equity markets has greatly benefited high net-worth households, thereby providing the wherewithal and confidence to purchase recreational property,” he said. “However, vacation-home sales are still about one-third below the peak activity seen in 2006.”

Here are the key findings from the report:

Raw Numbers

§  Vacation-Home sales rose 29.7 percent to 717,000 from 553,000 in 2012

§  Sales accounted for 13% of all transactions last year, up from 11% in 2012

§  The median price was $168,700, compared with $150,000 in 2012, reflecting a greater number of more expensive recreational property sales in 2013

§  42% of vacation homes purchased in 2013 were distressed homes (in foreclosure or short sale)

Buyer Profile

§  The typical vacation-home buyer was 43 years old

§  The median household income was $85,600

§  Buyers plan to own their recreational property for a median of 6 years

§  33% said they were likely to purchase another vacation home within two years

§  82% of all second-home buyers said it was a good time to buy (compared with 67% of primary residence buyers)

Reasons for Purchasing

Lifestyle factors remain the primary motivation for vacation-home buyers:

§  87% want to use the property for vacations or as a family retreat

§  31% plan to use it as a primary residence in the future

§  28% wanted to diversify their investments or saw a good investment opportunity

§  23% plan to rent to others

Location

§  41% of vacation homes purchased last year were in the South

§  28% in the West

§  18% in the Northeast

§  14% in the Midwest

The vacation homebuyer purchased a property that was a median distance of 180 miles from their primary residence (down from 435 in 2012)

§  46% were within 100 miles

§  34% were more than 500 miles

Financing

§  38% of vacation-home buyers paid cash in 2013

§  The median down payment was 30%, up from 27% in 2012

3 Reasons to Sell Your Home this Spring .... or make a Home Purchase at the Ocean City MD beach

3 Reasons to Sell Your Home this Spring

 [Buying or Selling in Ocean City MD is all about timing and marketing acumen.   Susan Antigone - ShoreFuin4U with Long & Foster will help you connect the dots, review the market analysis, and decide if NOW is the right time for YOU.  Consider whether you are interested in moving up or downsizing; are you thinking ahead for retirement; do you want a summer vacation destination; are you interested in renting out?   Are you preferring ocean front, bay front, or inland.  It's all about your lifestyle preferences.  Call or Email me and I will help you with the process.]

         

by The KCM Crew on April 8, 2014 in For Sellers 

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are three of those reasons.

1. Demand is about to skyrocket

Most people realize that the housing market is hottest from April through June. The most serious buyers are well aware of this and, for that reason, come out in early spring in order to beat the heavy competition. We also have a pent-up demand as many buyers pushed off their home search this winter because of extreme weather. Sellers in markets where seasonal weather is never an issue must realize that buyers relocating to their region will increase dramatically this spring as these purchasers finally decide to escape the freezing temperatures of the winters in the north.

These buyers are ready, willing and able to buy…and are in the market right now!

2. There Is Less Competition - For Now

Housing supply always grows from the spring through the early summer. Also, there has been a growing desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners have seen a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future.

The choices buyers have will continue to increase over the next few months. Don’t wait until all the other potential sellers in your market put their homes up for sale.

3. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by approximately 4% this year and 8% by the end of 2015. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate at about 4.5% right now. Freddie Mac projects rates to be 5.1% by this time next year and 5.7% by the fourth quarter of 2015.

Moving up to a new home will be less expensive this spring than later this year or next year.

The complete A to Z guide to doing personal branding right [infographic] | Inman News

The complete A to Z guide to doing personal branding right [infographic] | Inman News



My brand is combining excellent customer service with a beach lifestyle in the real estate field.  Two of my favorite passions.

A Home’s Cost vs. Price Explained. Homes for sale in Ocean City MD

A Home’s Cost vs. Price Explained



If you are thinking about purchasing a vacation home for your family or for investment in Ocean City MD, the figures on this article ought to help you understand the cost of waiting.   Interested in having a home search portal opened for you to research properties in Ocean City MD.   Contact me.  Susan Antigone - ShoreFun4U with Long & Foster Real Estate.

Who Says Millennials are not Buying Houses?

Who Says Millennials are not Buying Houses?