Hope Leitner, Realtor®, CRS

The recent housing crisis has prompted questions over whether home ownership is still a viable way toward greater wealth in this country. Confidence in home ownership was shaken, and many have had to turn to renting (the number of renters has increased nearly 25 percent since the housing crisis). The home ownership rate, in turn, has fallen from a peak of nearly 70 percent in 2004 to a two-decade low of 64.3 percent more recently. Still, researchers continue to find evidence that home ownership contributes to individual wealth. One example: The Center for Responsible Lending of Federal Reserve Board’s Survey of Consumer Finances recently found that median net worth of home owners in 2013 was $195,400, while at the same time the median net worth for renters was only $5,400. “Home ownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in wealth after the housing bust, the net worth of home owners over time has significantly outpa...

Happy Holidays!  I hope you are enjoying the season.  The year 2014 is about to end and I wanted to wish you a  happy holiday season.   Soon 2015 will be upon us and we will all embark on new and exciting adventures.  I wish you good luck in 2015.  Thrive!!

By listing your home in January, you can capitalize on the buyers looking to buy before the busy and competitive spring market. For many, January is a fresh start, and that can mean a re-energized home search for many interested buyers. 

Buyers can search for homes easier than ever and in many cases have more time to look for homes during the holidays. Serious buyers are always searching for homes on the Internet; the lower inventory will provide your home with less competition and more exposure, which can lead to a quicker sale at a higher price.  

Buyers and Sellers who complete their transactions in 2014 may be able to take advantage of the tax deductions for closing costs when they file their return in 2015.  Contact your CPA to help you maximize the deductions available to you when you are buying and selling property. 

Buying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. For the protection of buyer, seller and lender, the escrow process was developed. As a buyer or seller you want to be certain all conditions of sale have been met before property and money exchange hands. The technical definition of an escrow is a transaction where one party engaged in the sale, transfer or lease of real or personal property, with another person delivers a written instrument, money or other items of value to a neutral third person, called an escrow agent or escrow holder. This third person holds the money or items for disbursement upon the happening of a specified event or the performance of a specified condition. Simply stated, the escrow holder impartially carries out the written instructions g...