1. Insulate. Insulate. Insulate. Use pipe insulators to keep hot water hot for a longer time and a hot water heater blanket ($10.00 to $20.00) to both prevent temperature loss and reduce the amount of electricity/gas needed to maintain the water temperature. Be aware that the further heat or air conditioning has to travel, the greater the temperature loss. Insulating your heating and cooling ducts can prevent up to 60% of this loss. Remember that even a small area of inadequate or damaged insulation can greatly reduce efficiency.

2. Reduce heating/cooling expenses. Replace or clean all filters on a regular basis to reduce inefficiency. Eliminate all sources of drafts by checking windows, doors, electrical outlets, fireplaces, and attic floors for leaks (even small cracks lead to energy loss) and by using caulking or weather stripping to seal them. In addition, for a cost of $200 to $400, you can run a blower door test to discover the main, and many times hidden, sources of energy leaks in your home.

It is also important to schedule a HVAC cleaning/checkup every two years and to investigate the need for a programmable thermostat to save energy while you sleep or are away from home. If your windows, aging appliances, furnace, or hot water heater needs to be replaced, you should certainly consider purchasing ENERGY STAR products to save 10% to 30% of the usual operating costs.

3. Consume less water. Since your Gainesville Florida home is located in a resort area, water bills are generally high. Take steps to reduce this expense by installing low flow showerheads, toilets, and faucet aerators.

4. Don’t ignore the outside. Planting shade trees and shrubs in strategic locations on the grounds of your Gainesville Florida home can lower your cooling costs by as much as 25%, and because they also act as wind barriers, your heating costs can be reduced by up to 20%. In addition, the leafless trees will allow sunshine through in the winter (good for mental health as well as warmth). Also consider water conservation when landscaping. Look for lawn grasses and plants that are drought resistant and natural to the area.

The “Go Green” slogan is not a passing fad. Realistic buyers, who are both cost-conscious and ecologically aware, want to own a Gainesville Florida home that reduces their day-to-day utility expenses and allows them to play a part in preserving the environment. The purchase of a green home benefits both the buyer and the seller in today’s market.

Learn more about buying a Gainesville Florida home.

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Staging Tips For A Gainesville FL Open House

1. Remove the clutter.

Having a garage sale is out when removing clutter because the Open House is only a week away. You don’t want to stuff the garage or closets to the gills either. One solution is to rent an off-site storage facility or stack boxes neatly in a basement or crawlspace.

2. Stage each room.

The first thing to do is clean from top to bottom. Make sure windows and light fixtures shine and are in working order. If the room is crowded, put some furniture in the storage facility. Finally, pick a focal point that will attract buyers when they see the room. For example, the focal point of a bedroom is usually the bed, and for a music room, it’s the piano.

3. Use the rule of three.

First, remove everything from counters and table tops, including coffee tables and side tables. Then re-accessorize using the rule of three…using 3 items of varying heights. For example, on an end table you can place a lamp (high), a small plant (medium), and a book (low).

4. Make a child’s room more appealing.

Your goal is to appeal to the largest number of buyers and allow them to see themselves living in your home. Not all buyers will have children. Growth charts, posters, and school projects are personal items become a distraction and should be removed. Also, de-clutter shelves and closets. If you have time, tone down the colors. Bright wall colors can make a room appear smaller.

5. Remove signs of pets.

Not all potential Gainesville FL home buyers are pet lovers. Remove pets from the property and put away water bowls, food dishes and pet beds.

6. Make it odor free.

Cigarette smells, pet odors and distinctive cooling smells are not pleasant for buyers. Make your home odor free by airing out the house for a few days prior to the Open House or rent an air purifier.

7. Make the outside shine.

First impressions are important. If buyers are turned off by the outside of your home, they will never go inside. Clean off the driveway, mow the lawn, trim edges, pull the weeds and put down fresh mulch in the flower beds. Plant colorful annuals in beds or pots. Make sure the house is clean and paint the front door if needed.

8. Welcome buyers home.

Remember you want your home to say ‘Welcome Home’ to potential buyers. You want them to mentally move into your home and make it theirs. Bake a fresh batch of cookies and leave them on the kitchen table with a pitcher of lemonade. Then go to the park with the kids or visit friends. Somehow remove the family from the house and let your Realtor show the home off to its next owners!

Get more information on selling your Gainesville FL home.

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Appearances are Important

When selling your Gainesville Florida home, appearances are important. The exterior of the house should be attractive and in good condition, and the well-maintained grounds should be pleasing to the eye. The first thing to do is to look at the exterior objectively. Assess the color scheme (siding, trim, brick, roof) and determine if the architectural features of your house are in keeping with the rest of the neighborhood.

Perhaps the easiest way to boost curb appeal is to clean. Pressure wash to remove mold and mildew from siding, decks, walkways, and driveways. Make sure that your windows sparkle and remember to wash the screens. Gutters, too, may need cleaning–or replacing. Investigate snap-fit vinyl systems, decorative rain chains, or even a copper system for a high quality look.

Generate Interest with Landscaping

Another way to generate interest in your Gainesville Florida home is to pay attention to the grounds. Remove weeds, keep lawns mowed, and trim shrubs and trees. Add color by planting flowers and mulching (now available in a variety of colors) around plants and bushes. Prune areas which may appear overgrown or obscure architectural features which should be showcased and look at your landscaping design with a discerning eye.

Consider adding more trees–for three reasons. In addition to making the grounds more attractive, tree cover can also result in lower utility and water bills and increase your home’s selling value. Shop for trees which grow well in Gainesville Florida, provide variety in color and texture (fruit trees, Japanese maple and birch trees, for example), and are water efficient. Most area nurseries will gladly offer expert advice in selecting trees to improve your landscape plan.

An inviting entrance will also impress buyers. Your front door may need repainting or replacing since it should be an attractive focal point of your property. Think about color and design as well as hardware when making improvements. Polish or replace knobs, knockers, doorbells, and kick plates. Purchase a distinctive welcome mat and investigate the need for outdoor lighting. Porch, garden, and walkway lights not only enhance the landscape’s appearance, they also help to provide safety and security (a good selling point!).

And finally, spruce up the front porch or landing. Brightly colored plant/flower containers and hanging baskets add pizazz, as do a freshly painted porch floor and outdoor furniture. An eye-catching entrance way certainly helps ensure that buyers will gladly accept your invitation to come inside your Gainesville Florida home.

HAFA provides incentives to families to take advantage of selling their Gainesville Florida home by means of a short sale (the home is sold for less than the value of the loan), or a deed-in-lieu of foreclosure (the home owner voluntarily gives the deed to the lender.

HAFA helps families quickly sell their Gainesville Florida homes by giving them pre-approved short sales terms before listing the property. They are fully released from future liability for the first mortgage debt, and can receive $1,500 for borrower relocation assistance. HAFA also allows investors and servicers to receive financial assistance for administrative costs, processing fees, etc. The program sounds simple, but is actually quite complex with many guidelines and rules. HAFA officially began on Monday, April 5, 2010 and will end on Monday, December 31, 2012.

Here you can watch ‘An Animated HAFA Story’, an informative video explaining HAFA…

I am a Certified Distressed Property Expert (CDPE), trained in helping families in distress avoid foreclosure. Are you or someone you know behind on mortgage payments? You do have options! A short sale may be what is needed to save your, your family and your credit. Please contact me anytime for a private consultation.

Here are 9 tips if you are considering selling your Gainesville, Florida home:

• Be realistic, and price your home right by using market comparisons.

• Know your true bottom line for both price and time.

• As the market shifts, be prepared to evaluate your price.

• Advertising your property with yard signs, local MLS and newspapers.

• Get rid of the clutter! It makes your house appear smaller.

• Clean your walls, floors, baseboards, stove and refrigerator. Buyers will know your house is well cared for.

• Clean up outdoors! Remove tools, toys and be sure lawn and shrubs are neatly trimmed.

• Have the carpets cleaned to eliminate odors, smoke, and pet smells.

• Make minor repairs such as leaky faucets, sticky doors, etc.

• Be sure to ask for updated Market Analysis before listing your property.

What’s your Gainesville, Florida home worth?

Lawrence Yun , NAR chief economist, said the first-time home buyer tax credit, combined with record low interest rates, played a dominant role in fourth quarter sales. Yun went on to say, “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices.”

Lets look at January Gainesville FL real estate sales statistics to see how the housing recovery is progressing locally.

Gainesville FL Real Estate Sales Statistics – January 2010

The Gainesville FL area single family home sales saw sold listings remain consistant in January 2010, when compared against January 2009.  New listings saw an increase of 27%.  Pending sales saw a 9% increase and the average sales price increased by 8% to $132,701, while market times increased by 8 days.

The Gainesville FL area Condo/Townhome market saw the average sales price increased by 40% to $77,741 in January 2010 compared to January 2009.  While new listings were down 4% and sold listings decreased by 24% in January 2010.  Pending sales increased by 40% when compared to January 2009, while the average market times increased by 15 days.

For the latest Gainesville FL real estate market conditions in your area, please call me at 888-424-8841 or visit MyGatorCondo.com.

Calculating Capital Gains

(+) PURCHASE PRICE – Price paid for property

(+) COST OF PURCHASE – Transfer fees, attorney fees, inspections

(+) COST OF SALE – Repairs, commissions, attorney fees, inspections

(+) COST OF IMPROVEMENT – Room additions, deck, for example, though not replacing existing

(=) ADJUSTED COST BASIS OF YOUR HOME

(-) AMOUNT YOU SELL YOUR HOME

(=) CAPITAL GAIN

A Special Real Estate Exemption for Capital Gains

Even though the above calculation may indicate you owe Capital Gains, there is a special real estate exemption. Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a Gainesville FL home is exempt from taxation if you meet the following criteria:

• You have lived in the home as your principal residence for two out of the last five years.

• You have not sold or exchanged another home during the two years preceding the sale.

NOTE: As of 2003, you may also qualify for this exemption if you meet what the IRS calls “unforeseen circumstances” such as job loss, divorce, or family medical emergency.

Learn more about selling your Gainesville FL home by visiting MyGatorHome.com and MyGator Condo.com.

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Always consult a tax attorney regarding current tax laws.

Monthly house payments bring the biggest tax benefit to home owners. The interest included in the monthly mortgage payments is tax deductible as long as the loan is for less than a million dollars. IRS guidelines also allow deductions for interest on refinancing and home equity loans. However, they do put limits on how much is actually allowed to be deducted. Borrowing against the equity of your Gainesville home is an option renters do not have. Renters also do not have the ability to file federal tax deductions on their monthly rental payments. 

Homeowners are also allowed to deduct the points paid in order to purchase their home. If the deductions are itemized, points can be deducted the same year the home is purchased. Every point is equal to 1% of the entire loan amount. When the seller pays certain fees during the purchase, points are also deducted. 

Depending on the state, homeowners who meet specific criteria may qualify for real estate tax exemption. A portion of capital gains may also be deducted. When selling the property, the IRS allows a certain portion of the profit made to be excluded. Single taxpayers are allowed to exclude up to $250,000 in capital gains, and $500,000 for married couples. 

In 2007, the government added more to the miscellaneous tax credits receivable by homeowners. For example, the Energy Credit allows homeowners to receive $200 for home improvements that make the property more energy efficient. 

There are many benefits to owning a Gainesville home. Renters and hesitant prospective homeowners should take advantage of the tax breaks that are now available.

The $8000 first-time home buyer tax credit was scheduled to expire in just a few short weeks…Nov 30, 2009. I say ‘was’, because the Senate voted unanimously to extend the credit on Monday and the House of Representatives approved the extension yesterday afternoon by a vote of 403-12. The extension includes an expanded tax credit to repeat home buyers. The bill now goes to the President for his signature which is expected to happen today. 

Home Buyer Tax Credit Expansion and Extension 

1. The $8,000 tax credit will be extended and available for first-time home buyers through May 1, 2010.
2. A new $6,500 tax credit will be available for repeat buyers who purchase between December 1, 2009, and May 1, 2010. To qualify, buyers must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.
3. Prospective buyers with binding contracts in place as of April 30, 2010, will be allowed an additional 60 days to complete the transaction.
4. Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.
5. Limitation on the cost of a purchased home is $800,000. 

If you know anyone looking to buy their first Gainesville home at a time when prices and interest rates are still down, or if you are thinking of buying another Gainesville home and getting the new $6,500 credit please contact me today.

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The 2008 NAR Profile of Home Buyers and Sellers found that two-thirds of “For Sale By Owner” (FSBO) sellers found some aspect of the home sale to be difficult. 

Twelve percent of sellers who knew the buyer thought that getting the price right was the hardest task. Among FSBO sellers who didn’t know the buyer, 16 percent found it difficult to sell within the time planned, 15 percent found fixing up the home arduous, and 12 percent found it difficult to get the price right. 

Statistics also show 25 percent of FSBO sellers took no action to market their home and 72 percent didn’t offer incentives to attract buyers? 

If you are a Gainesville FL FSBO home seller and want to discuss other missteps FSBO sellers risk when attempting to go it alone, give me a call. I am glad to talk with you.

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