Thank You For Helping Us Celebrate

We recently hosted a great client appreciation event, and we want to thank all of our friends, vendors, and past clients who attended.

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We want to thank all of our friends, vendors, and past clients who were able to join us at our most recent client appreciation event. Thank you for trusting us with your real estate needs, and thank you for trusting us to help your family and friends as well. We had somewhere between 250 and 300 people in attendance at this party, and we had an absolute blast. We had catered food, live music, and all sorts of fun activities for the kids. We were also able to partner with S.E.R.V.E., our local food bank, and raffle off some donations and other great prizes.

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We want to thank everyone who came out to celebrate with us.

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We also managed to sit down with some of our previous clients, and they were kind enough to share their experiences working with our team. You can see what they had to say starting at 1:57 in the video above. Once again, we want to thank everyone who came out to celebrate with us. If you weren’t able to make it, we look forward to seeing you next year. We also look forward to hosting other events throughout 2019, so stay tuned for those as well. As always, if you have any questions or real estate needs, don’t hesitate to reach out to us. We’d be happy to help you.

How Will the New Tax Bill Affect Us Locally?

With the new tax bill coming into effect, many are wondering how it will affect our local market. Here are four ways the bill will and won’t impact us.

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I’m sure that many of you are aware that a new tax law has been passed. There is a lot of uncertainty about how it may affect real estate, so today I’m going to talk about four relevant changes and how they may affect us in our local market. The first of those changes is that the deduction allowed for what you pay toward state and local taxes (SALT) is being capped at $10,000. The important thing to note is that if you pay more than $10,000 in state and local taxes (including property taxes), you won’t be able to deduct any more than the capped amount. Here’s the positive side: the cap won’t affect a large percentage of home sellers or homeowners in the area. This is partially due to our average sales price, so while this may affect a small portion, especially on the high end of the market, it’s not likely to cause sweeping change. Take a look at how much you pay in state and local taxes to get an idea on how you may be affected. The second important change is that the amount that can be deducted for mortgage interest paid throughout the year is reducing as well. Under the previous tax code, mortgage interest could be deducted on loan balances up to $1 million. This has been reduced to loan balances up to $750,000.

Like the first change, this will mostly affect buyers looking to buy in the upper price ranges for our area. The thing to keep in mind is if you have one or more mortgages with total balances of up to $1 million, you are grandfathered into this $1 million legacy cap. Also, you can refinance your balance(s) and still be taxed based on the previous rules. New mortgages taken out after mid-December will be subject to the new cap. If you are looking to purchase and will have total loan balances under $750,000, you will be unaffected by this change.

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THESE CHANGES WON’T HIT OUR LOCAL MARKET AS HARD AS AREAS WITH HIGHER TAXES OR HIGHER AVERAGE SALES PRICES.

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The third item on the list is the new tax bill’s effect on capital gains—it won’t change at all. In previous versions of the bill, congress looked at changing the amount of time that someone would have to live in their home as a primary residence to be exempt from capital gains on the sale. Until the last minute, many thought this would change from from a primary residence requirement for two of the last five years to five of the last eight years. This would have been a massive change because one of the biggest benefits to homeownership in any area is that if you live in a home as a qualifying primary residence, your gains on the sale of that home aren’t taxable as capital gains. Our area is very transient; we’ve got a huge military contingent, tons of federal workers, and a lot of contractors that move regularly and often in less than 5 years. Large numbers of homeowners having to pay taxes for selling before the proposed five-year mark could have had a devastating impact on the local market. Sellers could have been forced to hold their homes off the market and it would have made it a lot more expensive for many in our area to sell their home. Targeted lobbying efforts from the real estate industry contributed to the final bill keeping the time frame at two of the past five years. This was a big victory. The last item is something that can affect sellers anywhere. Deductions for moving expenses are no longer allowed, with the caveat that if the seller is a member of the military, those deductions can still be factored in. Keep this in mind as your factoring in your moving costs. The big thing to keep in mind as we look at these changes is that you’re going to hear quite a bit of negative reporting. Even the National Association of Realtors has said that some of these changes could have an effect of up to 10% on prices. The key here is that locally, our average sales price will mitigate the effect of the first two changes. It won’t hit our local market as hard as areas with higher taxes or higher average sales prices. Going into 2018, things still look really positive. There are many things that are still going our way, and for our area in particular, I don’t anticipate these changes having a big negative impact. Since I’m a real estate agent and not a CPA, I can’t give you tax advice, just my opinion as it relates to real estate. If you do have further questions about the tax bill, I can put you in contact with a CPA to provide you with more details and insight. For any other questions regarding real estate, feel free to reach out to us. We’d be glad to help you.

The True Benefit of Working With a Team

When it comes to a real estate transaction, you’ve got one shot to do things right. Why work with just one agent when you could have a team of people all working to make your transaction go smoothly?

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Today I want to talk about the difference hiring a team of agents can make for your transaction. Obviously, you want the process of selling your home to go as smoothly as possible. For this to be achieved, you’ll need to have good, strong communication with whoever you’re working with. When you work with a team, you’ve got the benefit of having a number of people taking care of the many steps of the real estate process, instead of just one agent trying to take on all the work him or herself. Having multiple people dividing up the work of completing pricing analysis, staging, taking photos, marketing your home, negotiating contracts, hosting showings, scheduling inspections, processing hundreds of pages of paperwork and more, will really help things move more smoothly. A single person only has a finite amount of energy they can expend and direct into the important tasks of the real estate process. One person dividing their time and energy is much less effective than having a team of individuals all focusing on different parts of the process. When you work with a team, you are working with people who are specialized in different areas. On my team, for example, we separate out our listing specialists and buying specialists. The job of a listing specialist and that of a buying specialist are very different. A listing specialist needs to spend their time working on pricing, marketing, and creating exposure for sellers. A buyer’s agent needs to have time available to spend on the road with their clients, making sure they have the right perspective to make a good decision.

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HAVING SPECIALISTS DIVIDE THE WORKLOAD THROUGHOUT YOUR TRANSACTION WILL HELP THINGS MOVE MORE SMOOTHLY.

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One person trying to do both of these jobs and more would cause every area of their work to suffer. Teams like ours also have staff working on the process to make things go more smoothly for clients. On our team, we have a marketing coordinator whose only job is to make sure that all of the marketing details are taken care of in a timely, efficient manner. Real estate transactions are all about timing. For this reason, our team uses a transaction coordinator to help finalize all of the details of the sale. Utilizing a team of staff members and agents is hugely beneficial in helping the transaction to move forward smoothly. When it comes to a real estate transaction, you get one shot to do it right. Would you rather have one person working on your behalf, or would you rather work with a team of specialists?
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Why You Need to Test for Radon Gas

Having the radon level tested in a home is a very important step in the real estate process that can actually save lives.
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Radon gas is something that’s around us all the time and could impact the real estate process. This is because it can become concentrated in places like basements, where it is typically tested for. So what does this mean for you?

Radon gas exposure is the second leading cause of lung cancer in the United States. This is a topic that comes up a lot in the real estate process because it’s a standard contingency in our area. Thankfully, there are a few ways to identify and deal with it.

Whether you’re on the buyer or seller side of a real estate transaction, you are likely to go through the radon testing process. 

In most cases, this involves having an inspector come to the house to place a test that will read radon levels for 48 hours. After that time, it will give you an average reading from which you can determine whether or not there is a problem that needs to be dealt with. 


Specifically, you will look whether the test is above or below the 4.0 EPA action level. If the test comes in above this level, however, it doesn’t mean that you will be unable to buy or sell the house. 

The radon level can be reduced through a very standard process which will leave the home safe.

The radon level can be reduced through a very standard process which will leave the home safe. Usually at this point a contractor who consistently, if not exclusively, does radon work will come out to the property and install a system that pulls air from below the house in order to prevent radon from concentrating. 

Thankfully the process is neither complex nor is it cost prohibitive—usually costing in the $850 to $1,000 price range.  

If you are a buyer and this device is installed by the seller in the property you’re purchasing, the process will be as simple as periodically checking the device’s u-shaped dial to make sure it is working properly and that your house is protected.

If you want any more information or have any other questions on this topic, feel free to contact by giving us a call or sending us an email. We look forward to hearing from you.

What do I Need to Know About Zillow Home Value Numbers?

Can you really depend on Zillow to figure out what a home is worth in the current market? I would say no, and there are a few reasons why.

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I get a lot of questions about Zillow and the estimates the site comes up with for a home’s value. Can you really trust that number?
When Zillow determines home value, they use an algorithm that pulls tax record information, square footage, and some major attributes of your house before it spits out a number.

The problem is that no one from Zillow is going into your house. Zillow has no idea if a house was recently renovated or if the home is in a state of disrepair.

Zillow can get close to estimating your market value. The Wall Street Journal found that on average, Zillow’s estimates are 7.8% off the actual sales price. That may not seem like a lot, but a 7.8% mistake on a $400,000 house means missing out on over $30,000. If you rely solely on automated estimates like those found on Zillow, you could either price your home way too high or sell yourself short; neither is a viable option.

In a Wall Street Journal article, Zillow executives explained that their estimates are meant to be a starting point so that people can get an idea of what homes are selling for in a certain area or neighborhood. However, if you are buying or selling a home, you have to have accurate information that’s tailored to your specific property to make sure you’re making a good decision.

Pricing your home correctly is absolutely crucial.

Get in touch with a real estate professional. He or she can give you an analysis specifically based on your home. A real estate agent will be able to take all of the upgrades and attributes of your home into account in order to come up with an accurate market price.

It is important to know the true value of a home. As a buyer, you don’t want to overpay for a home because you weren’t able to get a proper analysis. As a seller, if you price your home correctly from the very start, you are more likely to net a higher sales price. If you overprice your home and have to go through a number of price reductions, your home will sit on the market. The longer a home is on the market the less leverage a seller has in a negotiation and it’s likely you will end up selling your home for less money.
Pricing your home correctly is absolutely crucial. Remember, while Zillow is often off by 7% to 8%, that can mean a difference of $20,000 to $50,000 on your home sale. That kind of margin of error is simply too big to rely on when pricing your home.

If you have any other questions about pricing or the home selling process, give me a call or send me an email. I would be happy to help you!

Tips for Buying & Selling Over the Holidays

Should you buy or sell a home during the holidays? The holidays can be a great time to be in the real estate market for both buyers and sellers, and there are a few reasons why.  

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Should you buy or sell a home over the holidays? Many people are uncertain about whether they should enter the real estate market during the holidays, but the 4th quarter can be a great to buy or sell a home.

As a buyer, the holidays can be an outstanding time to purchase a home. Some of our most cherished memories center around the holiday season. Why not have moving into your house be one of them? I remember a family that was only able to get their Christmas tree moved in before the 25th but it has become such a great story for them. 

OUR MARKET NEVER TOTALLY DIES DOWN!

Secondly, there are still plenty of homes on the market. There is always movement in our local market. There tends to be a swell of activity in the spring, but at the same time, buyers face more competition in the spring. Don’t be afraid to buy during the holidays!

As a seller, keep in mind that buyers looking this time of year tend to be ready to go. Most buyers aren’t out between Thanksgiving and Christmas if they don’t need to find a home quickly. Holiday buyers are typically very serious and already pre-approved, creating a good opportunity to sell your home despite a smaller buyer pool overall.

You will also face less competition this time of year. If you waited until spring to put your home on the market, you could be competing against 10 other houses in your neighborhood. By listing during the holidays, you may only have to compete against one or two homes for sale in your area. Staging and professional photography will also help you stand out from the reduced competition.

If you have any other questions about buying or selling during the holidays, give me a call or send me an email. I have a few other tips to make the whole process more fun and enjoyable for you and your family. I look forward to hearing from you!

Why Are Housing Inventory Levels Important?

We are here to provide valuable information whether you’re buying or selling.

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Housing inventory is a measurement of the number of homes that are on the market at a given time. We can look at inventory broadly in a market or in different price ranges to find out which section of the market is hottest and which presents more buyer opportunity. In this video I explain how inventory is measured and how the level of inventory affects buyers and sellers. 

A balanced level of inventory is typically defined as three to four months of available homes based on the rate at which homes are being sold. At this level, neither buyers nor sellers have a defined advantage and the market is generally stable. If inventory dips to one or two months’, buyers are forced to compete for the relative lack of homes and sellers have stronger pricing and negotiation leverage. When buyers experience an inventory shortage they tend to make offers more quickly with less negotiation - this puts upward pressure on prices and helps homes sell more quickly. 

A buyer’s market, on the other hand, occurs when there is a surplus of inventory - say five to seven months or more. The tables turn and a buyer gains the leverage in this situation. Instead of buyers competing for the very best listings, sellers have to compete for the best qualified purchasers. If there is only one qualified buyer for every 5 or 7 homes on the market, he or she is a hot commodity and sellers will do what they can to secure that buyer.

WE ARE HERE TO PROVIDE VALUABLE INFORMATION WHETHER YOU’RE BUYING OR SELLING.

Whether you’re buying or selling, we are here to provide valuable information like this to help you make the best decisions for your unique situation. If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you.

Are You Prepared for the Appraisal Process?

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One of the most crucial aspects of buying or selling your home is the appraisal process. Today, I’d like to define “appraisal” and go over some of the key parts of the process so that you know how it affects you as a buyer or seller. 

What is an appraisal? The short answer is that an appraisal is a valuation of the property at one point in time. The purpose of an appraisal is for the buyer’s lender to determine whether the property is worth the value that the buyer and seller have agreed upon. This way, the lender can base their loan amount and their numbers off of the current market value.

When a buyer and seller go under contract, the lender is going to order an appraisal. The appraiser will reach out to the show contact (in our case it’s our listing agent) who will go out and visit the house. The appraiser is not there to do an inspection. He or she will come to the home to take photos and measurements prior to completing appraisal report in order to ensure that what is pictured online is accurate. This makes it possible for the appraiser to put an accurate value on the house.


Once the appraiser has finished their report, they’ll then submit it to the lender. As long as everything meets value and there aren’t any conditions or repairs that need to be made, the loan will move forward. The exception to this is when the value doesn’t come in at the value that the buyer and seller have agreed upon. In this event, the process will continue.

We want to make sure the buyer is not paying too much for the house to begin with.

To prevent a low appraisal, we have an appraisal package that we send out to the appraiser before they even go out to look at the house. The reason we do this is because we want to make sure that the appraiser has accurate information about the house before they go out and generate their own opinions. This package includes the best comps we can find, in addition to a list of special features about your house that distinguish it from others that have sold recently. This appraisal package, along with the relationships we have with local appraisers, makes it much less likely for there to be issues with the value of your home when the appraisal comes in.

For our buyer clients, we have less influence over the appraiser; however, before our clients submit an offer, we do an analysis on the pricing. This protects the buyer against any appraisal issues down the road and ensures that they are not paying too much for the house to begin with.

Whether you’re getting ready to buy a house, thinking about selling, or simply have questions about how the appraisal process works, reach out and send us an email or give us a call. We’d be happy to make sure you’re well-prepared for your purchase or sale.