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| Do I Qualify for the 2009 Housing Tax Credit | | | Frequently Asked Questions About the 2009 Tax Credit for First Time Home Buyers1. Who is eligible to claim the tax credit?You are eligible for the tax credit if you are a first time home buyer. You can purchase either a new or resale home must your purchase (i.e. close of escrow) must take place between Jan. 1 and Dec. 1, 2009. 2. Am I a first-time home buyer?If neither you nor your spouse have not owned a principal residence in the three years immediately prior to the purchase of your new residence, you qualify as a first time homebuyer. If either of you, however, has owned a principal residence during that time, neither of your qualifies as a first time home buyer.3. Does everyone receive $8,000 in tax credit?No. You will receive a tax credit of 10% of the cost of the home up to a maximu ...Continue Reading Do I Qualify for the 2009 Housing Tax Credit | | | Do I Need an Agent | | | Do I Need a Real Estate Agent? Virtually everyone who has sold a home has asked themselves if it was worth paying 5-7% in real estate commissions to the agents. Even buyers, who typically do not pay the agents directly, end up paying the form of higher housing prices, because most sellers would sell the house for less if they did not have agent fees to pay. So can you do it alone? Maybe, but be sure to consider the value that an experienced agent brings.If you are a seller… Make sure to consider what an agent can do for you before deciding to try to sell your house yourself. An experienced agent can give you a feel for local prices which is probably more accurate than the online estimating tools like the one at www.zillow.com. The agent can advise on things which would make your hom ...Continue Reading Do I Need an Agent | | | Are We Headed for Another Great Depression | | | A huge question on the minds of many is whether the US is headed for another Great Depression, and how should the answer affect housing, home improvement and other large ticket purchase decisions?Are We Headed for Another Great Depression?The Great Depression of the 1930’s was not caused by the stock market crash in October, 1929 as many people believe. Despite the severity of the drop, in and of itself, it likely would not have caused the enormous panic which lead to a run on banks, massive home foreclosures, 25% unemployment and an 86% drop in stock values. What caused the real problems was the government’s response to the problem. The government did not lower interest rates and kept the money supply constricted. This caused banks to stop lending and trying to reclaim assets ...Continue Reading Are We Headed for Another Great Depression | | | How Long Do I Have To Wait To Sell My Home II | | | So where are we now in the housing market? Home prices have fallen. Defaults and foreclosures are skyrocketing. The Federal Reserve and its counterparts around the world are, almost daily, coming up with new ways to pump liquidity into a seemingly frozen credit market. Are you looking to short sell your second home? Do you need help because you own tow homes and can’t sell either?So how long do I have to wait to sell my home, is a tough question. Consider the items below to help you determine how long to wait to sell your home.Do you WANT to sell your home or do you NEED to sell your home? In the case of divorce, job loss or serious health issue, you may legitimately need to sell your home. It’s as if fate teamed up against you with a double whammy in your hardest hour. First, ...Continue Reading How Long Do I Have To Wait To Sell My Home II | | | How Long Do I Have to Wait to Sell My Home I | | | Part I - Selling Your Home During Today's Housing Recession As the federal government contemplates the largest financial bailout in world history to the possible tune of $700 billion, many anxious would-be home sellers asking themselves “how long do I have to wait to sell my home.” The anxiety in the air is palpable. So how should you think about this situation if you are indeed wanting to sell? How Long Do You Have to Wait to Sell Your Home? The short answer, of course, is that no one knows when housing prices will return to their formerly inflated state, and as of this writing in September 2008, they are still on their downward trajectory. Despite what the National Association of Realtors claims about the US never having experienced year of year declines in house prices befor ...Continue Reading How Long Do I Have to Wait to Sell My Home I | | | How to Estimate the Cost of Remodeling a Bathroom | | | Bathroom remodeling costs, like those of any big remodeling project, will vary tremendously based on several factors, but primarily on labor and materials. The range can be dramatic, from a low of under $2000 for a partial remodel of a half bathroom with simple fixtures up to $60,000 or more to get the spa-like master bath retreat you have always dreamt of. Remodeling a standard size bathroom with standard fixtures can often come in under $10,000. Below are a few of the major factors which will affect the final cost to remodel your bathroom. The good news with bathroom remodeling is that the cost is often largely offset by increased resale value of the home. According to the National Association of Realtors, a midrange bathroom remodel will recoup, on average, 102% of its cost, whereas an ...Continue Reading How to Estimate the Cost of Remodeling a Bathroom | | | Painting a Stucco House – Tips for Choosing a Contractor | | | In many ways, stucco houses are the easiest to paint, and should be less expensive when bid by a professional stucco painting contractor. Stucco, as opposed to wood, does not require significant prep work. It pretty much just needs to be power washed and then it’s ready to go. There are, however, a few items you should double check with your contractor before he begins painting your stucco:When painting stucco, will he backroll? This means that after one painter sprays the paint on, another painter follows with a roller to “push” the paint more onto the wall and help it adhere better. Backrolling is not absolutely necessary, though it does help ensure better adhesion to the wall and less likelihood of holidays. The backroll should happen almost immediately after the paint ...Continue Reading Painting a Stucco House – Tips for Choosing a Contractor | | | Remodeling Houses Costs | | | Remodeling Houses – Costs for Bathroom, Kitchen and Basement Remodeling Want to estimate the cost of remodeling a bathroom? Get the average kitchen renovation estimate cost? Want to find the average cost to remodel a basement or get the average cost of remodeling per square foot? Estimating the cost of remodeling, is a black art on par with voodoo and horse race handicapping. If you ask a contractor for a “rough estimate” you’ll often hear $30,000 - $100,000 for a kitchen, $10,000 - $30,000 for each bathroom and who knows what with basement remodeling costs or room additions. The general rule of thumb is that remodeling houses costs between $150 -$300 per square foot depending on what kind of finishes you want, where in the country you live, what time of year it is ...Continue Reading Remodeling Houses Costs | | | Price to Build a Detached Garage | | | Most reports for the price to build a detached garage range from $15/square foot (if you are building it yourself) up to $40 - $55 square foot if you have a professional contractor build it. Most reports for the price to build a detached garage range between $30,000 - $70,000. Below is a discussion of some of the components that will drive the price of your detached garage up or down.How Does the Size of Garage Factor into the Price to Build a Detached Garage?Square footage is one of the biggest contributors to the price of a detached garage, as many contractors simply calculate the size and multiply by a pre-set price per square foot. When considering the size, think carefully not only about how you will use it, but about how the next owners of your home might use it. For instance, a tigh ...Continue Reading Price to Build a Detached Garage | | | Asphalt Roofing Installation:Things You Need to Know Before Comparing Contractors or Doing It Yourself | | | The most popular roofing shingle is asphalt, usually ranging in price from $.80 - $1.00 per square foot. Asphalt roofing is popular for a variety of reasons from price to appearance to ease of asphalt roof installation. You can find just about any color or style to match your home and the job can usually be done in just a few days. When comparing asphalt roofing contractors, it is important to consider the following:Review Asphalt Roofing Installation Have you actually looked at other local homes they have roofed? It is not uncommon for less-than-reputable roofers to use the wrong sized nails if they do not have the correct ones. Have you ever seen a home where the roofing nails came down through the eaves (soffits)? You don’t want that!Asphalt Roofing LifespanThink about the durati ...Continue Reading Asphalt Roofing Installation:Things You Need to Know Before Comparing Contractors or Doing It Yourself | |
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