Stutsman Realty, Inc Blog

Tips for Pricing Your Home in the New Year

 |  Financial, Real Estate News, Selling a Home
  • Consider comparables –  What have other homes in your neighborhood sold for recently?   How do they compare to yours in terms of size, upkeep, and amenities?
  • Consider competition –  How many other houses are for sale in your area?   Are you competing against new homes?
  • Consider your contingencies –  Do you have special concerns that would affect the price you’ll receive?  For example, do you want to be able to move in four months?
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How Big of a Mortgage Can I Afford?

 |  Financial, Purchasing a Home

Not only does owning a home give you a haven for yourself and your family, it also makes great financial sense because of the tax benefits — which you can’t take advantage of when paying rent.

The following calculation assumes a 28 percent income tax bracket. If your bracket is higher, your savings will be, too. Based on your current rent, use this calculation to figure out how much mortgage you can afford.

Rent: _________________________

Multiplier: x 1.32

Mortgage payment: _________________________

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Understanding Capital Gains in Real Estate

 |  Financial, Real Estate News, Selling a Home

When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for.  The same holds true when selling a home (or a second home), but there are some special considerations.

How to Calculate Gain

In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis.  To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you ac...

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 |  Financial, Purchasing a Home, Real Estate News

Things You Might Not Know About Title Insurance

The following has been reprinted with permission of the NATIONAL ASSOCIATION OF REALTORS®

  1. Your mortgage lender is going to require it. Title insurance protects the lender and the secondary markets to which they sell the loans from defects in the title to your home and property. It ensures the validity and enforceability of the mortgage document. Title defects could include mistakes made in the local property office, forged documents and claims from unknown parties. The amount of the policy is equal to the amount of your mortgage at its inception. You ...
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What Not to Overlook on a Final Walk -Through

 |  Purchasing a Home, Real Estate News, Selling a Home

It’s guaranteed to be hectic right before closing, but you should always make time for a final walk-through. Your goal is to make sure that your home is in the same condition you expected it would be. Ideally, the sellers already have moved out. This is your last chance to check that appliances are in working condition, and that agreed-upon repairs have been made. Here’s a detailed list of what not to overlook for on your final walk-through.

Make sure that:

  • Repairs you’ve requested have been made. Obtain copies of paid bil...
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Common Closing Costs for Buyers

 |  Financial, Purchasing a Home, Real Estate News

You’ll likely be responsible for a variety of fees and expenses that you and the seller will have to pay at the time of closing. Your lender must provide a good-faith estimate of all settlement costs. The title company or other entity conducting the closing will tell you the required amount for:

  • Down payment
  • Loan origination
  • Points, or loan discount fees, which you pay to receive a lower interest rate
  • Home inspection
  • Appraisal
  • Credit report
  • Private mortgage insurance premium...
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Call 811 Before You Dig

 |  Home Maintenance, Safety

For all of you contractors,  homeowners, and other weekend warriors out there who are anxious to start those outdoor projects ~ Be sure to call 811 before you start any excavation on your property.   This service will connect you to participating utility companies such as electric, gas, cable and phone to alert them as to any planned digging so they can mark the appropriate location of their underground lines.

A 48 – hour notice is needed to give workers time to come out to mark the property.

Ii is free, it will keep you and yours safe, and it’s the law.

I...

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Spring Golf!

 |  Community Events

The golf season is almost upon us.  Here is a list of golf courses and their estimated open dates, which has been provided by the Minnesota Golf Association.  Please contact each course directly to confirm specifics.

The official score posting season starts on April 1st.

 

March
3/30 Bunker Hills Golf Club – Driving Range Only
3/30 Read More

Five Things to do Before Putting Your Home on the Market

 |  Home Maintenance, Home Organization, Real Estate News, Selling a Home
  • Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.
  • Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets...
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 |  Home Organization, Safety

Moving with Pets

Moving to a new home can be stressful on your pets, but there are many things you can do to make the process as painless as possible. Experts at the Pet Realty Network in Naples, Fla., offer these helpful tips for easing the transition and keeping pets safe during the move.

  1. Update your pet’s tag. Make sure your pet is wearing a sturdy collar with an identification tag that is labeled with your current contact information. The tag should include your destination location, telephone number, and cell phone number so that ...

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