Now is the time of year when more and more buyers start to come out from their winter hibernation and begin looking for and buying homes. Remember, there are no rights of seniority, just because you've been looking longer and you've been able to go back to the same home over and over without worry of losing it, doesn't mean that will last forever. If you like the home, chances are, so will other buyers, they are after all looking at the same inventory you are. Now is the time to get serious or get used to disappointment. "I'm sorry, that home is now pending!"
A mistake many sellers make is to get a little greedy, particularly if the first offer is above the minimum price they've set in their mind. Then their carnivorous nature takes over and they try to go for more and more money even though initially they told themselves they'd be satisfied with less than what was offered.
Remember, a successful sale is a win win for both parties. If your greed causes the buyer to walk away, you've let the deal get the best of you. Don't let your quest for more cost you everything!
Here is some information to definitely talk to your tax professional about.
To get the credit, the homebuyer cannot have owned a home in the previous three years. The home must be a principal residence and purchased between April 9, 2008 and July 1, 2009.
The credit is equal to 10 percent of the purchase price, up to $7,500. Single taxpayers with modified adjusted gross income up to $75,000 and couples with MAGI up to $150,000 will qualify for full credit. Singles with MAGI up to $95,000 and couples with MAGI up to $170,000 will get a reduced amount. Those with higher incomes don't qualify.
If the amount of tax a homebuyer owes is less than the amount of the credit, they get to keep the difference in the form of an IRS refund.
The homebuyer must begin to repay the credit in two years in increments of about $500 a year over a 15-year period for those who received the full credit
Homebuyers who sell their home before the credit is repaid must pay off the loan with any profits. If they sell the home at a loss, the loan is forgiven.
Rollback pricing may be what makes Walmart great, but it is not good for real estate. Pricing your home too high to begin with is one of the biggest mistakes you can make. After doing this, you spend the rest of your time chasing the market and praying you catch it. If you price too high, you are appealing to the wrong buyer who thinks your home lacks the amenities for the price and the right buyer thinks your home is to expensive. A common misconception is that you need to leave room for negotiation. If your home is priced properly the negotiation gap will be minimized.
I am surprised time and time again how difficult it can be sometimes to convince buyers to get a professional home inspection. For a few hundred dollars, you have a trained professional come in and inspect from top to bottom what could be the largest investment of your life. They check for items that could potentially cost you thousands of dollars to repair once the home is yours and prevent you from inheriting that problem.
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I'm a full service e-Pro REALTOR serving the Pekin / Peoria Area. Whether you're buying or selling a home in Pekin, Dunlap, East Peoria, Metamora & Germantown Hills, Morton, Peoria, or Washington.
There are many qualities and skills that go into being an excellent real estate professional - integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work.
That said, in my experience as a Pekin real estate professional, I've also found that providing the very best service is essentially about putting my clients first. This means keeping myself accessible, being a good listener as well as a good communicator, and responding quickly to your needs.
This "client first" philosophy has always been my approach and it requires me to continually improve my skills and ways of doing business. In addition, I've found that the latest technologies are enabling me to do everything I've always done, only much more quickly and efficiently. They've also helped me to extend the range of services I provide to my clients.
So when you decide that you'd like to buy or sell a home in the Peoria & Surrounding areas, please contact me.
I specialize in first time buyers and relocation.
Jana and I recently accomplished a corporate relocation from Denver, CO to the Peoria, IL area. We conducted online research as to homes and realtors that represented the Peoria and surrounding communities. Jim's web site, coupled with the Maloof Realtor site provides the best home information data backed by visual media that made the home search easy by focusing on a few key potential properties that met our expectations.
Jim coordinated our visit to Peoria to ensure that the limited visitation time was utilized by setting home viewing appointments, meetings with financial and mortgage representatives, and completing required paperwork while we were in Peoria. Jim's punctuality and preparedness eliminated any lost time providing further evidence that our selection of Jim and the Maloof Realtor firm was a correct one. Further evidence of Jim's professional service commitment was during the first day of home visits; Peoria was hit by a snow storm of nearly 6 inches, yet Jim conducted us to all the home visits without occurrence while ensuring our ability to return to selected homes for follow up and walk through.
Meanwhile, upon our return to Denver, CO, Jim conducted much of the leg work and follow up on the home status and closing process ensuring a smooth transaction. Upon, closing day, the procedure was seamless and simple with my wife and I taking possession of our new home. Jim's professionalism and committed to clients did not end there; he has followed up with additional information concerning the local area such as shopping, restaurants, Doctors, Vet's, etc. We can say that through our years of numerous corporate relocations, this experience with Jim has been the best we have had. Jim sure makes life easier.
Darrell and Jana C. - Dunlap
I was satisfied with the service provided. Jim was patient enough to help me find the right house, even
though it sometimes meant traveling long distances, going to areas he hadn't been to before, and resulted in several months of looking at houses. While looking at houses, Jim would point out flaws in the house we might have otherwise overlooked. Despite several opportunities to make a quick buck, Jim instead offered his opinion on houses he felt uncomfortable with while I was considering these houses, typically due to the potential of the house being a money pit. If I choose to sell and/or buy a house later, I will again use Jim, and suggest him to friends and family that later decide to sell and/or buy a house.
David C. - Peoria
We recently relocated to the Washington, IL area and were very unfamiliar with the towns, schools and businesses. I contacted two realtors on line-one of them being Jim Sikes, and immediately knew I wanted to work with him.
Jim always responded to my many questions when searching for a home and was the one that first suggested we look at some homes in Washington. He was so patient and professional with our home search and provided very useful information about the cities and schools, which was a concern for us.
I know we will someday need another realtor and Jim will be the one we use for our home.
Kerry and Barry O. - Washington
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