Anyone who is looking to build a successful real estate business needs to keep meticulous records. When buying and selling property, there are a lot of tax and legal responsibilities. While some people may not want to think about this issue, the IRS may audit a real estate business. In this case, it is critical to have documentation that demonstrates proof of income as well as any credits or deductions that might have been claimed. Some of the most common deductions that are claimed in the real … [Read more...]
Home Improvements That May Improve Resale Value
Did you know that some home improvements lower the resale value of a home and decrease the number of potential buyers? If you are going to repaint the exterior of your home bright, traffic-cone orange and try to sell it for a high price, think again! Maybe, if the artist Pablo Picasso once lived there that might work, but probably not under any other circumstances. Some things are counter-intuitive. A swimming pool is an example. Swimming pools are great and highly desirable for many people. … [Read more...]
Common Problems Faced By New Homeowners
Buying a new home is a big step for individuals and families. This is a time for celebration as the new furniture gets moved in, everyone gets adjusted, and the honeymoon phase starts with the new home. On the other hand, buying a home also means that all of the responsibilities rest with the owners. Here are a few common problems that new homeowners face. Taking Care Of The Outside Many homeowners are quick to realize that there is a tremendous amount of maintenance on the outside of the home. … [Read more...]
The Impact Of The New Housing Construction Boom
New housing construction starts reached a record high in December 2019 going up 16.9%. This represents a seasonally-adjusted annual rate of 1.608 million homes last December, which beat the record set in December 2006, 13 years ago, according to CNBC. This was surprising news, as predictions made before the end of the year were that housing starts in December would reach only 1.375 million homes. Experts say the current housing construction boom in the United States gets its support from the … [Read more...]
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