Thursday, March 9, 2017

Tips for Selling Your Home This Spring

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Prepare yourself for a lively home-selling season as many home buyers are hoping to purchase before interest rates or home prices go up.  Even so, they are still insisting on a good deal.  While we are currently experiencing a seller's market where the supply of homes for sale doesn't meet buyer demand, the overpriced homes are at a disadvantage.  Many reasonably priced properties are receiving competing offers while the homes with inflated asking prices aren't moving at all. Three key things to remember when selling a home are location, condition and price matter. If one of these is off, your home might not sell.
Potential buyers tend to know within the first minute if they want to consider buying a home so sellers should pay attention to curb appeal.  Trim trees and bushes, pressure wash the driveway, paint the front door and add some colorful flowers. Additionally, wash the windows and lay down some mulch to make the best first impression.
Lighten your load.  By that, we mean eliminate your possessions by more than half.  Pare down your closets and furnishings to make your closets and rooms appear larger. Dark corners can be painted lighter and appear brighter when they are less cluttered. Take down heavy drapes, especially if they have a pet odor.
Do pre-inspection repairs.  If there are items in your home that haven't been maintained and you are fairly certain a home inspector if going to find something wrong, get it fixed.  You may even want to hire your own home inspector to point out issues before your home goes on the market so you can make any necessary repairs prior to selling. At the very least, consider updating the electrical panel and plumbing.
Price the home reasonably.  Sellers should compare homes that are similar and have recently sold to ask the best price.  Pricing a home too low will make buyers think something is wrong with the house and too high might cause you to sit on the property too long. Overpriced homes can stay on the market for 3 or 4 months making them more difficult to sell.
Following these tips will make marketing the home a breeze.  Professional photos, virtual tours, website write-ups and word of mouth will help home buyers navigate their home search.  If you are ready to hire a Real Estate Team to sell your home this Spring, call Kohan & Associates at 727-565-1658 or visit us at WWW.SUNCOASTHOME.COM.



Tuesday, February 21, 2017

Do You Know the Difference Between Sale Pending and Under Contract?

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Is a home that is labeled as "Sale Pending" worthy of pursuit or totally unobtainable?  When a buyer makes an offer to purchase a home it is typically "subject to" or "contingent on" inspections, appraisals and/or loan approvals.  The seller understands the buyer has intentions of closing on the home but first must be sure the property is in good condition and financing is available. Otherwise, the buyer can cancel the contract.  Once the buyer is satisfied with inspections and has been approved for a loan, all contingencies are removed and the sale is pending. The buyer in essence is locked in to purchase the home. Important to note is that should a buyer need to exit the contract it is still possible to walk away at risk of losing the earnest money deposit.  So, when a property is labeled "Sale Pending" there might still be a chance to step in should the first deal fall apart.

Basically, a home that is under contract means the buyer has made a formal offer that has been accepted by the seller. Back up offers would be welcomed and the listing agent will probably continue showing the home because the deal can very easily crumble. Who knows?  There may be a surprise lien on the property, appraisals could come back low thus affecting the home loan, or problems could be discovered during the inspection leading to renegotiations. 

Although there is a difference between sale pending and under contract it might not be significant.  There is still a chance that if you fall in love with a home that has one of these labels, you might be able to snap it up and call it your own.

For more information on home sales in Tampa Bay and Florida's Gulf Beaches contact Kohan & Associates at 727-565-1658 or www.Suncoasthome.com.

Monday, February 6, 2017

Open House "Must Ask" Questions

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When you are home hunting, there isn't a lot of room for error.  It's quite different from passively window shopping.  Open Houses present unique opportunities to sniff out hidden gems and ask plenty of questions.  Take advantage of the chance to speak to the listing agent and get the inside scoop. Trulia came up with 10 important questions to help you be prepared.
1. How many offers have been made?
2. Has the asking price fluctuated?
3. Why do the sellers want to move?
4. How long has the property been on the market?
5. Are there any issues with the home?
6. When was the house last updated?
7. How much do utilities cost?
8. What's the seller's timeline?
9. where can I get a good bite to eat?
10. What are the neighbors like?
It can be so fun buying a new home and visiting multiple open houses.  Don't get caught in the excitement and forget to look critically.  Of course, the house will be stage, smell delicious,  look bright and clean, but if this could be your future home, remember to dig deeply and ask questions.

Would you like information on upcoming Open Houses?  Call Kohan and Associates at 727-565-1658 or check out our website at www.suncoasthome.com.



Tuesday, January 17, 2017

Pack up the Family, You're Moving to Seminole!


Privacy, location and view. Custom built in 2006, this stunning home is nestled among million dollar homes along the Seminole canal, close to Seminole Park.  As soon as you enter, you are truck by the soaring ceilings, richness of the premium floor tiles and crown molding, and spaciousness that beckons your family toward the incredible water view that this elevated living space affords. The main living area takes full advantage of the sunlit garden and expansive fresh water view. Step onto your tiled balcony to appreciate the peaceful sounds of nature while overlooking your 80 foot wide waterfront property. the kitchen is a chef's dream with top of the line stainless steel appliances and natural stone granite counters. Main floor has three bedrooms decorated with high quality bamboo wood floors plus two and a half tiled bathrooms. The master bedroom features a walk in closet, sliding door out to the balcony, giant master bathroom with his/her sinks, granite counters and a jetted soaking tub. Downstairs is a two-car garage, utility room, workshop, storage closet, and large open area ideal for gym/sports equipment. Only ten years young, this inviting home has 2084 heated square feet. Backyard has plenty of room to add a pool next to the outdoor kitchen area and wet bar.  Fresh exterior paint, fenced yard, newer A/C, and no HOA fees make this a rare find.  This home is meticulously cleaned and move-in ready. Grab your kayaks and your fishing poles! Located at 8077 Cheyenne Drive in Seminole, Florida 33777.  For a personal tour and pricing, please call Kohan and Associates Real Estate Team at 727-565-1658 or email Kkohan@Remax.net. 

Tuesday, January 10, 2017

Which St. Pete Neighborhoods Will See Home Values Increase the Most this Year?

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You may have never even heard of Westminster Heights. This neighborhood in St. Petersburg might be worth investigating though if you are looking for ideal real estate investments this year.  Located between 49th and 58th Streets South and located south of Central Avenue, this Tampa Bay location tops Zillow's list of the five bay area neighborhoods expected to show the biggest percentage increase in home valuation for 2017.  

Why is the area so appealing? What is causing the anticipated 11 percent value jump?  According to an article written by Susan Taylor Martin in the Tampa Bay Times, the location is good in terms of access to things such as the Pinellas Trail and Grand Central with new businesses popping up. Homes are well maintained and can be purchased for a good price.  An example is a current four bedroom listing for $149,000. Additionally there is a community playground.

Oakwood Gardens is located between 30th and 38th Avenues N with backyards of several houses butting up to I-275. Mature shade trees, easy store and restaurant access and well-kept affordable homes draw many to this neighborhood close to downtown St. Pete.  Home values here are forecast to rise 9.4 percent but very few homes are currently on the market.

Just south of there lies the Lake Euclid area including a two and a half acre park and wildlife area. While it is close to the interstate it is even closer to downtown. Many homes in this community can be purchased for below $175,000. Home values are expected to rise 9 percent in 2017.

Zillow predicts a 3% increase in this year's home values nationally. Are you ready to see what your home is worth?  Call the Kohan Real Estate Team for a free Home Evaluation at 727-565-1658 or email us at kkohan@remax.net.


Wednesday, December 21, 2016

Home Sales Expected to Grow Modestly in the Coming Year

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According to new consumer survey results and a National Association of Realtors 2017 housing forecast, existing home sales are expected to make a small gain in 2017. Mortgage rates are increasing while consumer confidence that now is a good time to buy a home may be decreasing. The Housing Opportunities and Market Experience (HOME) survey found that a majority of households (78%) do believe now is a good time to buy a home. Renters, however, retreat slightly in their market confidence. 

Weakening morale among renters may be caused by declining affordability in many parts of the country. NAR's chief economist, Lawrence Yun says, "Rents and home prices outpacing incomes and scant supply in the affordable price range has been a prominent headwind for many prospective buyers this year. Making matters worse, the unwelcoming reality of higher mortgage rates.."

Even with this year's slow dip in buyer excitement, existing sales are still predicted to close 2016 3.3% above last year - the best year since 2006. Next year, sales are forecast to grow by about 2 percent to around 5.52 million. Interestingly, the national median home price is predicted to go up by 4 percent next year.

Yun is hopeful that the continued job growth, any economic stimulus from the new administration and more millennials reaching their prime buying years will keep demand steady for the most part. Ultimately, what the housing market needs is more inventory. 

Almost all of those surveyed believe that prices will stay the same or rise in their community in the next six months.  Respondents from suburban areas, renters, and those living in the West are most likely to believe prices will go up in their communities.

Kohan and Associates Real Estate Team is ready for 2017. How may we help you? www.Suncoasthome.com


Thursday, December 1, 2016

Four Key Tax Strategies to Implement Before the Year End













It's the most wonderful time of the year. Celebrations and parties galore. All good times unless you have taxes on your mind!  Apply the following strategies to your business or real estate holdings and then go get yourself another glass of eggnog.

1. Document everything and get your books in order. Proper documentation is a must. Make certain to have a system for organizing receipts so you can substantiate expenses on your tax returns. Utilizing technology will improve efficiency. You might even consider a mileage tracking app. Using various expense recording apps on your smart phone can ensure you don't lose information along the way.
2. Review your entity structure. When running an active business it is a good plan to set up an LLC. It is generally simple and cost effective. Without an entity structure in place, any profit can be subject to self employment taxes. You might end up paying around 50% of your earned income to federal and state governments. Don't do it! Transact all business through your LLC if your state allows this. Also, when staking claim in a partnership entity, don't use your own name, use that of your LLC. This way you can choose to have your personal LLC taxed without affecting your partner's tax position.
Utilizing these ideas just may help you save enough money so you can buy a new property next year.
3. Before the year's end, make wise investments. What products or services can you buy now that will help in the future? What items are key to your growth? Maybe a new computer , truck or software subscription can help. Buying these items before the new year will allow you to write off the cost in 2016.
4. Establish and use retirement accounts. When flipping, developing or selling a home, retirement accounts can become a powerful tax planning tool.  Business owners can contribute up to $53K per year. Make sure you are taking the appropriate steps now to minimize your tax liability. Talk with a CPA, lawyer and finance professional to get the best tax strategies to help put more money in your pocket before the year is up.

Call the Kohan & Associates Real Estate Team when your nest egg is ready! www.suncoasthome.com

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