Posts
There is a wealth of information on the internet about buying and selling homes. Potential clients will ask; “Why should I hire a real estate agent”? Some are successful and many are not. Here are some reasons for you to consider when you are thinking of buying or selling your home.
Education, Knowledge & Experience
You don't need to know everything about buying and selling real estate if you hire a real estate professional who does. The key is to find the right person. Realtors typically cost the same so why not hire the person with more education, knowledge and experience than you. Interview several agents and ask about their marketing plan. Buying and selling real estate is what we do and it allows you the precious time you need for other things.
Agents take the Calls
When buying a home many clients now days are finding homes they want to see on the internet. Agent’s help clients search and often can find properties that might be overlooked. Agents can pre-screen the listing for potential problems and point out areas that could be a concern for a buyer. For a seller the agent takes the calls from other agents and callers who are just looking for information and not necessarily serious about buying the home.
Neighborhood Knowledge
Agents either know or know how to get information on a neighborhood. They can compare sales and get data on city services, schools, crime and demographics.
Price Guidance
Agents don’t set the price for buyers or sellers but will provide all the data for a buyer or seller to make an informed decision about what to sell for or what to offer for a property.
Market Conditions
Real estate agents have access to market statistics. There are many things to consider when buying or selling. The market data can help you decide what to do.
Networking
Real estate agents know and work with other professionals in the business. Many professionals are and can be utilized in the process. Agents typically provide a list of vendors who they know are reputable.
Negotiation Skills
The top agents know how to negotiate well. Most buyers and sellers are emotional about the process whereas the realtor takes the emotion out of the negotiation and can bring and argue their clients views with respect to a property or transaction.
Volumes of Paperwork
Today’s contracts are 6 pages or more, depending on mandated disclosures and addendums. One tiny mistake could result in court or other costs.
Being Available
Before, during and even after the processes, a good realtor is available to help make the process an informed and pleasant one. Even after you move in there may be times that your realtor can be of value.
Your Realtor Connection
Agents rely on referrals. Agents want their clients to be happy with them and the process. In many cases friendships are developed or at the very least a mutual respect.
Friday, August 27, 2010
Nine Tips for Taxpayers Who Owe Money to the IRS
Nine Tips for Taxpayers Who Owe Money to the IRS
Did you end up owing taxes this year? The vast majority of Americans get a tax refund from the IRS each spring, but those who receive a bill may not know that the IRS has a number of ways for people to pay. Here are nine tips for taxpayers who owe money to the IRS.
1. If you get a bill this summer for late taxes, you are expected to promptly pay the tax owed including any penalties and interest. If you are unable to pay the amount due, it is often in your best interest to get a loan to pay the bill in full rather than to make installment payments to the IRS.
2. You can also pay the bill with your credit card. The interest rate on a credit card or bank loan may be lower than the combination of interest and penalties imposed by the Internal Revenue Code. To pay by credit card contact one of the following processing companies: Official Payments Corporation at 888-UPAY-TAX (also www.officialpayments.com/fed) or Link2Gov at 888-PAY-1040 (also www.pay1040.com) or RBS WorldPay, Inc at 888-9PAY-TAX (also www.payUSAtax.com).
3. You can pay the balance owed by electronic funds transfer, check, money order, cashier’s check or cash. To pay using electronic funds transfer you can take advantage of the Electronic Federal Tax Payment System by calling 800-555-4477 or online at www.eftps.gov.
4. An installment agreement may be requested if you cannot pay the liability in full. This is an agreement between you and the IRS to pay the amount due in monthly installment payments. You must first file all returns that are required and be current with estimated tax payments.
5. If you owe $25,000 or less in combined tax, penalties and interest, you can request an installment agreement using the Online Payment Agreement application at IRS.gov.
6. You can also complete and mail an IRS Form 9465, Installment Agreement Request, along with your bill in the envelope that you have received from the IRS. The IRS will inform you usually within 30 days whether your request is approved, denied, or if additional information is needed. If the amount you owe is $25,000 or less, provide the highest monthly amount you can pay with your request.
7. You may still qualify for an installment agreement if you owe more than $25,000, but a Form 433F, Collection Information Statement, is required to be completed before an installment agreement can be considered. If your balance is over $25,000, consider your financial situation and propose the highest amount possible, as that is how the IRS will arrive at your payment amount based upon your financial information.
8. If an agreement is approved, a one-time user fee will be charged. The user fee for a new agreement is $105 or $52 for agreements where payments are deducted directly from your bank account. For eligible individuals with incomes at or below certain levels, a reduced fee of $43 will be charged.
9. Taxpayers who have a balance due, may want to consider changing their W-4, Employee’s Withholding Allowance Certificate, with their employer. There is a withholding calculator available on IRS.gov to help taxpayers determine the amount that should be withheld.
For more information about installment agreements and other payment options visit IRS.gov. IRS Publications 594, The IRS Collection Process and 966, Electronic Choices to Pay All Your Federal Taxes also provide additional information regarding your payment options. These publications and Form 9465 can be obtained from IRS.gov or by calling 800-TAX-FORM (800-829-3676).
Did you end up owing taxes this year? The vast majority of Americans get a tax refund from the IRS each spring, but those who receive a bill may not know that the IRS has a number of ways for people to pay. Here are nine tips for taxpayers who owe money to the IRS.
1. If you get a bill this summer for late taxes, you are expected to promptly pay the tax owed including any penalties and interest. If you are unable to pay the amount due, it is often in your best interest to get a loan to pay the bill in full rather than to make installment payments to the IRS.
2. You can also pay the bill with your credit card. The interest rate on a credit card or bank loan may be lower than the combination of interest and penalties imposed by the Internal Revenue Code. To pay by credit card contact one of the following processing companies: Official Payments Corporation at 888-UPAY-TAX (also www.officialpayments.com/fed) or Link2Gov at 888-PAY-1040 (also www.pay1040.com) or RBS WorldPay, Inc at 888-9PAY-TAX (also www.payUSAtax.com).
3. You can pay the balance owed by electronic funds transfer, check, money order, cashier’s check or cash. To pay using electronic funds transfer you can take advantage of the Electronic Federal Tax Payment System by calling 800-555-4477 or online at www.eftps.gov.
4. An installment agreement may be requested if you cannot pay the liability in full. This is an agreement between you and the IRS to pay the amount due in monthly installment payments. You must first file all returns that are required and be current with estimated tax payments.
5. If you owe $25,000 or less in combined tax, penalties and interest, you can request an installment agreement using the Online Payment Agreement application at IRS.gov.
6. You can also complete and mail an IRS Form 9465, Installment Agreement Request, along with your bill in the envelope that you have received from the IRS. The IRS will inform you usually within 30 days whether your request is approved, denied, or if additional information is needed. If the amount you owe is $25,000 or less, provide the highest monthly amount you can pay with your request.
7. You may still qualify for an installment agreement if you owe more than $25,000, but a Form 433F, Collection Information Statement, is required to be completed before an installment agreement can be considered. If your balance is over $25,000, consider your financial situation and propose the highest amount possible, as that is how the IRS will arrive at your payment amount based upon your financial information.
8. If an agreement is approved, a one-time user fee will be charged. The user fee for a new agreement is $105 or $52 for agreements where payments are deducted directly from your bank account. For eligible individuals with incomes at or below certain levels, a reduced fee of $43 will be charged.
9. Taxpayers who have a balance due, may want to consider changing their W-4, Employee’s Withholding Allowance Certificate, with their employer. There is a withholding calculator available on IRS.gov to help taxpayers determine the amount that should be withheld.
For more information about installment agreements and other payment options visit IRS.gov. IRS Publications 594, The IRS Collection Process and 966, Electronic Choices to Pay All Your Federal Taxes also provide additional information regarding your payment options. These publications and Form 9465 can be obtained from IRS.gov or by calling 800-TAX-FORM (800-829-3676).
Saturday, August 7, 2010
Friday, August 6, 2010
Disclosure
Full disclosure of certain issues regarding the property you are want to sell, is required in many states in order to protect the buyer from any unseen problems. Check with your real estate professional to see what the laws are in your area. Disclosure laws protect both the buyer and seller and include matters such as problems with the electrical, heating or air systems, and the presence of hazardous materials.
First Time Home Buyer, What's Important
Many first-time buyers want to own a home and can afford to own a home, but they're worried that the market is going to continue to decline and the home won't be worth what they paid for it. However, short-term future value should not matter if the other circumstances are right.
Here are some points from Marte Cliff, a copywriter who specializes in writing for real estate and related industries.
First-time buyers aren't investors. They're buying to own a home for themselves to live in and enjoy. If the home falls in market value a little, so what? They aren't planning to sell.
Money paid for rent buys a house for someone else to own.
Rents do rise with supply and demand.
Homes in most areas are now so inexpensive that first-time buyers may be able to make their payments and set aside a few dollars for maintenance for less than their current rent.
Interest rates are still low, making inexpensive homes even more affordable.
With interest rates so low, a few extra dollars per month on a 30-year mortgage could mean a first-time buyer could own the house free and clear within 15-20 years.
Hesitation could cost big dollars. Just a 1% rise in interest rates will add several hundred dollars per year to even a moderately-priced home. And interest rates are expected to rise.
This tide will turn, and homes will begin appreciating in value. That trend has already begun in some markets and will begin in others as the foreclosures and short sales are sold.
Over time, first-time buyers will be earning more while their house payment will remain stable.
Once a first-time buyer has determined that they are ready to take on the responsibility of homeownership, their primary concerns should be:
-Their desire to remain in the home for several years.
-Their ability to make the payments and take care of maintenance without having to give up everything else they now enjoy.
Here are some points from Marte Cliff, a copywriter who specializes in writing for real estate and related industries.
First-time buyers aren't investors. They're buying to own a home for themselves to live in and enjoy. If the home falls in market value a little, so what? They aren't planning to sell.
Money paid for rent buys a house for someone else to own.
Rents do rise with supply and demand.
Homes in most areas are now so inexpensive that first-time buyers may be able to make their payments and set aside a few dollars for maintenance for less than their current rent.
Interest rates are still low, making inexpensive homes even more affordable.
With interest rates so low, a few extra dollars per month on a 30-year mortgage could mean a first-time buyer could own the house free and clear within 15-20 years.
Hesitation could cost big dollars. Just a 1% rise in interest rates will add several hundred dollars per year to even a moderately-priced home. And interest rates are expected to rise.
This tide will turn, and homes will begin appreciating in value. That trend has already begun in some markets and will begin in others as the foreclosures and short sales are sold.
Over time, first-time buyers will be earning more while their house payment will remain stable.
Once a first-time buyer has determined that they are ready to take on the responsibility of homeownership, their primary concerns should be:
-Their desire to remain in the home for several years.
-Their ability to make the payments and take care of maintenance without having to give up everything else they now enjoy.
Subscribe to:
Posts (Atom)