CHECK TAX CONSEQUENCES BEFORE FLIPPING A HOUSE

Flipping houses can be an exciting venture, and if done correctly, can bring you the kind of return on investment that you have been seeking. But buying a house, renovating it quickly, and then selling it again isn’t as seamless as HGTV’s Flip or Flop and Fixer Upper make it look. It’s important that you be prepared for the never-televised wonkier side of property investing. When it comes to flipping, the most important consideration, tax experts say, is how long you hold a property. If you retain the property for more than a year, federal law rewards you by treating any profit from the sale as a long-term capital gain. That means the tax rate on your profit is much lower, maxing out at around 20% for investors even in the highest-income tax bracket. For those in lower brackets, the rate could be lower — even 0%. But if you flip in less than a year, Continue reading

Posted on September 21, 2017 at 3:28 pm
Kari Haas | Category: Kari's Blog

Checklist for Garage Sale, Make it a success

        • Check with your local government to see if there are any restrictionsregarding garage sales and promotional signage.
        • Advertise online using Craigslist, twitter, on your Facebook page, gslr.com, or nextdoor.com.
        • Put up flyers on local bulletin boards.
        • Make clear concise signs that can be easily read from far away.
        • Double check your signs by driving past them to make sure they are visible.
        • Add balloons, pinwheels or streamers to your signs.
        • Invite your neighbors to join your garage sale, the more things you have to sell the more people will stop by!
        • Decide what to do if it rains.
        • Keep small bills on hand to make change.
        • Have grocery bags available for sold items.
        • Make sure all items are clean and functional.
        • Display more interesting items in the front.
        • Clearly mark prices.
        • Offer a “Free Box” towards front of sale.
        • Display like items together.
        • Have an extension cord and batteries available to show items work.
      • Continue reading

Posted on June 20, 2017 at 5:29 pm
Kari Haas | Category: Kari's Blog | Tagged

Ready for Spring Checklist

Inspection top to bottom: Now that the weather is temperate you will want to check on how your home weathered the winter. Check the roof for leaks, the gutters for damage, and the siding for cracks. You will also want to inspect your basement or foundation for any shifts. Make repairs now to prevent further damage.

Clean out the gutters: April showers bring May flowers… so clear out the gutters to keep rain from pooling on your roof or near your foundation.

Pest control: Spring is mating season for eight legged critters, so sweep out cobwebs, clear debris, and check the nooks and crannies. If you live in an area prone to dangerous species like brown recluse or black widows, you may want to Continue reading

Posted on March 29, 2017 at 8:46 pm
Kari Haas | Category: Kari's Blog

Seattle Real Estate Chugs Alone As America’s Hottest Home Market

Seattle’s home-price increases keep surging ahead of the rest of the nation even as the local housing market is showing a clear trend of slowing a bit. Across Greater Seattle, the typical single-family house cost 10.4 percent more in November than a year ago, the biggest increase of any metro area in the country, according to the Case-Shiller home-price index. It’s the third straight month that the Seattle area led the nation as the hottest housing market after a nine-year stretch without being on top. Continue reading

Posted on March 7, 2017 at 5:32 pm
Kari Haas | Category: Kari's Blog

4 money tips for new homeowners

More than 60% of Americans own their homes, bellevueand while there are certain benefits to ownership, there’s also a downside: the cost.

You may have thought that coming up with a down payment was the greatest financial hurdle you’d face, but as you’ll soon come to learn, there are numerous expenses associated with owning a home. Here’s how to handle them.

1. Create a new budget

Given that your monthly mortgage payment is bound to differ from your previous rent payment, it might seem like a no-brainer that you’ll need to adjust your budget accordingly. But there’s more to it than that, because you may find that other costs change by virtue of your new home. For example, if you move from a two-room apartment to Continue reading

Posted on December 14, 2016 at 10:38 pm
Kari Haas | Category: Kari's Blog

A smarter way to invest in your child’s education.

What if you could invest in something that earned HouseForSale1enough profit to pay for your child’s college tuition and still kept your initial investment growing towards your own retirement? That’s the picture when you purchase a home or condo as an investment for college. There are options in every price bracket and investment models that work no matter how soon college starts for your kids.

Interest rates are historically low and the demand for housing is continually rising in our tech-rich, mild-weathered, green, economically-advantaged neck of the woods. Companies like Amazon, Microsoft, Google, SpaceX, Boeing and Facebook attract over 5,000 net new people per month to the Sound, giving the Pacific Northwest a very hot housing market that’s grown strongly for generations. Don’t you wish you had bought Mercer Island waterfront in the 1980’s? In a few years Continue reading

Posted on December 2, 2016 at 5:57 pm
Kari Haas | Category: Kari's Blog

How to Sell Your House in the Winter

Start with the exterior
As with any time of year, make sure that the house lookssellhouse well maintained and cared for, with eaves clean and minor repairs taken care of. While you can’t paint in winter, washing paintwork and siding with warm soapy water on a mild day can make a big difference. Make sure the windows are freshly washed as well; winter light has a way of highlighting grime.

Tend to foliage
Make sure that shrubs and Continue reading

Posted on November 28, 2016 at 9:18 pm
Kari Haas | Category: Kari's Blog

Less Stress During the Holidays

lessstrees1 Be organized Make lists for groceries, people to shop for, cards to write,
decorations to buy. Sit down with a
calendar and give yourself target dates for getting things done.

2 Less is more. Simple decorations
can speak volumes more than a room
crowded with all kinds of knick-knacks. Choose recipes that are tried and true favorites.

3 Leave the cooking to someone else.
A caterer may cost the same as buying the
ingredients yourself. And even if it’s more expensive, it may be worth the time and headache you save. Continue reading

Posted on November 21, 2016 at 6:06 pm
Kari Haas | Category: Kari's Blog

Terrified to Buy a House? Your Top Fears Debunked. #realestate

You wake up in a cold sweat. There’s something lurking in the dark, fearofbuyingahousevisible by flickering computer light. Something’s haunting you. It’s… the real estate listings! Deep down, you’d love to own a home, but whenever you take steps beyond idle window-shopping, a chill runs up your spine, and paralyzes you from moving ahead.

So in case you’re harboring some heebie-jeebies, here are some of home buyers’ top concerns — tackled head on so you know what you’re really dealing with.

Fear # 1: ‘I’m afraid I can’t afford a home’ Continue reading

Posted on November 18, 2016 at 7:05 pm
Kari Haas | Category: Kari's Blog

When Selling Your House Does the Office Commission Matter?

Should I negotiate the commission when I’m selling real estate?

realestate
We did an analysis of over 35,000 closed sales in King, Snohomish and Pierce Counties to see if the S.O.C. had any impact on a home’s selling price and on the time on market. For this project we looked at closed sales for all of 2015, but we only looked at residential resale under $1,000,000. We did not include new construction, short sales, bank owned properties, land or mobile homes. Here is what we found. Continue reading

Posted on November 15, 2016 at 7:07 pm
Kari Haas | Category: Kari's Blog