Packing Up a Lost Loved One's Home

Regarded as one of the most stressful situations, it is likely that each of us will one day have to clear out a deceased parent's home. There is no way to soften the difficulty of this inevitable, unenviable task. 
Often times even though people aren't classic hoarders, they still hang on to a multitude of questionable objects they saw no reason to get rid of previously. Easier to dispose of are the Tupperware's without lids and receipts from decades past. However, when it comes to the family memorabilia, trying to decide whether to keep or toss can cause emotions to become excruciatingly painful. My best advice is to keep your common goal in mind - .  You can't cling to every candy dish in an effort to keep the lives of your loved ones from slipping away.
If you have not had the experience of packing up a family member or friend's home, here are some pearls of wisdom:
1. Keeping the house can be costly, so the shared goal of selling can  help motivate packers.
2. Save things that have a story or value.
3. Split things between family.
4. Hire help. Several companies can assist with estate sales for the items you plan to liquidate.
5. Take pictures of items you don't intend to keep but still have meaning.
When the task of clearing out the house is completed and you are mentally ready to sell your loved one's home, call Kohan & Associates. We are realtors with compassion and understanding of what you have experienced because we have been there ourselves. Call Keyvan Kohan at 727-565-1658 and Stephanie Kohan at 727-564-9983 or reach us through our website at www.Suncoasthome.com .We can get through this most difficult time together.

Interested in Adding Value to your Home?

Knowing which home improvements are most beneficial to make a statement in today's real estate market can really pay off. Keeping in mind that each upgrade will most likely help increase the value of your home when selling, now is a great time to learn the smartest options.

1. Declutter:   Taking out the extra furnishings and accessories from a home has been estimated to be worth as much as $4000.  This is truly a case where less is more.  If you feel like you need a gentle nudge consider hiring a professional cleaning service or home staging company.

2. Landscaping: Even for those of us without a green thumb, adding plants and mulch helps improve first impressions. Costs are relatively low but the return value is high.

3. Fresh Paint: The smell of new paint sends visitors a message that the home has been improved. Choosing neutral colors that are currently fashionable can make living space more inviting.

4. DIY Projects: If you can do some handy work around the house, labor savings equal 100%. Consider trading out old faucets for modern nickle and steel models.  Or how about adding wainscoting to at least a single wall for added value?

5. Updated Lighting: New lighting fixtures can brighten your home without breaking the bank. There are so many options to choose from that this is an easy way to add character and decoration.

6. New Furnishings: Prospective home buyers can be wowed by the look of great, affordable furniture. Impress them with a few new pieces of tasteful and comfy couches or chairs.

7. Pre-Inspection Inspection: Here's a home value hack you might not have thought about.  Consider hiring an inspector before your home even hits the market.  Particular mechanical or plumbing problems can be identified and fixed ahead of time.

Would you like to know the current value of your home?  We would be happy to provide you with a FREE MARKET ANALYSIS.  Give Keyvan and Stephanie a call today: 727-565-1658.

Additional home improvement ideas can be found at
www.thisoldhouse.com
www.hgtv.com
www.consumerreports.org

From Beach Shacks to High End Mansions

The norm on our local beaches has become small family cottages giving way to high-end homes. Real estate sellers and developers see this trend continuing with quaint homes along the beach coming to an end as more and more multi-million dollar homes are replacing them.

According to Developer Peter Donnantuoni, new construction was dormant for about 10 years following the market crash of 2006. However, coming out of the recession, expensive homes are going up all over.

Many of the existing homes in this area are showing signs of age with older designs and finishes. Baby boomers who have worked hard are now comfortable spending big bucks on modern new homes. They want to enjoy what they have earned.  While the cost of high end Gulf beach homes can range from $3-$5M, they are still a bargain compared to those south of the area. Pinellas County is going through a renaissance of sorts where everybody wants to move here.  Investments in beachfront property are trending since the value of the land is what's driving the price of expensive homes.

Vacant lots are harder and harder to come by.  A 60 foot lot in Redington Beach recently sold for $1.7 million dollars.  Modest homes are getting sold and knocked down as they become obsolete.  The house ages but the lots are appreciating assests. Builders and realtors believe that more and more high end homes will be built along the beach with smaller ones being cleared away to make room.

In the words of a local agent, "Even though it is cheaper to buy on the Pinellas beaches than it is to buy south of here, it won't last forever.  We were the best kept secret but that is over.  Values will increase and so will the demand."

If you are ready to own your piece of sand, call Stephanie and Keyvan today at Kohan & Associates.  We can be reached 7 days a week at 727-565-1658.

Feeling lucky?

St.Patrick's Day is only days away and it's time to celebrate!  Tampa Bay has a multitude of options to choose from.  Give me a call (727-565-1658) and let me know if you will be at any of the following events:

Mayor's River O'Green Fest
Saturday, March 19, 2016
11:00 AM to 4:00 PM
Curtis Hixon Waterfront Park
600 N Ashley Drive Tampa
www.tampagov.net/special-events-coordination/news-and-events/riverogreen

Tampa's official Saint Patrick's Day party is centered around the Hillsborough River which will be tinted bright green for the occasion.  Celebrants can also expect live entertainment, games, kids activities, local restaurants and beer.  Free for the entire family including Fido!

MacDinton's Soho St. Patrick's Day
Thursday, March 17, 2016
11:00 AM to 10:00 PM
www.813area.com/tampa/hyde-park/events/240503/macdinton_s-soho-st-patricks-day.htm
"The place to be seen in ur green"
St.Patrick's Day Party at MacDinton's Irish Pub to include a full Irish menu all day.  Irish dancers and bag pipers will entertain all day and night.  Live music inside and outside. No cover before 5 PM.

Paddyfest at Ferg's Live
Thursday, March 17, 2016
5:00 PM to 11:00 PM
www.813area.com/tampa/downtown-tampa/events/240005/paddyfest-at-ferg_s-live%21.htm
Touted as the biggest and best party in the Bay, Paddyfest features three inside bars, two outside bars, five beer tents, and two stages.  Live entertainment, Giant Flip Cup Tournament, choreographed Irish Dancing and give aways!

Selling Your Home? What Can You Expect This Tax Season?

If your home recently sold or is sale pending do you know what income taxes you will be responsible to pay this tax season?  The amount actually depends on the length of time you lived in your home.  If your family has resided in your home for two of the last five years, single homeowners can earn $250,000 tax free!  Some exceptions to this rule apply for those disabled, relocating for a job more than 50 miles away, or those in need of medical treatment.  In these cases taxes can be prorated. The tax free number increases to $500,000 (exemption on the profit not sale price) for couples filing jointly.  Capital gains taxes must be paid if your home is higher than your allotment. For homeowners who have had their homes less than a year, the regular tax rate applies.
If you are interested in calculating your personal gain, the following compilation is suggested by Time: "First subtract selling expenses such as agent commissions and other closing costs from the sale price.  Then you need to calculate your basis. This is what you paid for your home, plus some of the closing expenses from the purchase, such as title insurance and recording fees (but not loan points or lender fees), and the costs of any permanent improvements, like a swimming pool or new addition.  For more complete details, see IRS Publication 523." www.irs.gov/uac/About-Publication-523
Prior to selling a home, one should check with a CPA, Tax attorney and/or Estate attorney.  For recommendations, give the Kohan & Associates team a call at 727-565-1658 or check out our website at www.Suncoasthome.com