The current spread of coronavirus (COVID-19) and the efforts to contain it have impacted almost all aspects of daily life – and real estate transactions are no different. Yet despite current circumstances, real estate agents are still seeing sellers and buyers move forward with their plans in what is historically an active spring market. “Precautions have changed, and people are doing life differently, but the demand and decision to buy a home is currently still very strong,” says Kerron Stokes, Manager of RE/MAX Leaders & Team Leader of Resource Group in Centennial, Colorado. “Our team has taken on two new listing clients and three new homebuyer clients this week, and have new buyer consults set up next week as well.” Yet even with willing sellers and eager buyers, the current U.S. government guidelines recommend social gatherings be limited to fewer than 10 people – among other safety measures – which means selling a home this spring may …

SELLING A HOME DURING UNUSUAL TIMES Read more »

Finding a property that takes into account your lifestyle, location preferences and budget can be no small undertaking. Buyers must know what to prioritize, what to budget for and what to compromise on when it comes to finding the right home. Here are some tips to help you find the best one for you: Attend Open Houses The key to finding out what best fits your lifestyle is seeing as much inventory as possible. The advantage of working with a real estate agent is that they will show you different properties and neighborhoods you might not have considered. That’s where open houses offer a lot of value. Typically, every weekend there are dozens of open houses. The only thing you have to lose is time. The more you see, the more you realize what you do or don’t like, and it might open up some other avenues that you might not have thought of. Location Matters – …

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Buying a second home is a great way to lock in a great vacation spot and earn some extra rental income. However, there are also some financial realities that many homeowners aren’t aware of before they purchase their second home.IRS Limitations If you rent your second home more than fourteen days a year, the IRS qualifies that home as a rental/investment property. As such, the income you gain from your home is taxable. Your second home also won’t qualify for the same deductions as your primary home.Risk & Liability It’s easy to overlook problems like leaks and water damage in a home that goes unoccupied for long periods of time. Empty homes are also more likely targets for vandalism. Hiring a property management company to keep an eye on the home can help ensure you catch potential problems before they get out of hand. Other Expense Expenses such as home insurance, security monitoring fees, and running utilities …

3 Things to Consider Before You Buy a Second Home… Read more »