FISCAL CLIFF LOOMING TAX INCREASES

Dramatic 2013 Tax Increases Looming…Are You Ready?

If the economy falls off the physical cliff how much more will you have to pay in taxes?

Here is a quick chart that will give you the answer:

Annual income: $20,000 to $30,000.

Average tax increase: $1,064.

Annual income: $40,000 to $50,000.

Average tax increase: $1,729.

Annual income: $50,000 to $75,000.

Average tax increase: $2,399.

Annual income: $75,000 to $100,000.

Average tax increase: $3,688.

Annual income: $100,000 to $200,000.

Average tax increase: $6,662.

Annual income: $200,000 to $500,000.

Average tax increase: $14,643.

Annual income: $500,000 to $1 million.

Average tax increase: $38,969.

Annual income: More than $1 million.

Average tax increase: $254,637

Listing Your Home in December? Pros & Cons

Listing Your Home During the Winter Months

Utah Holiday Conundrum: To List or Not To List

If you are a Utah homeowner struggling with the decision about whether listing your home for sale during the winter months is good or bad, there are arguments for either choice.

Let’s start with the “pros”:

One of the best things I like about listing your home for sale in the winter months is that the holidays work to your advantage.  Nothing says “home” better than a house that is well (and tastefully!) decorated for the holidays. By making sure the decorations accent the house rather than overpower it, you still funnel attention where it belongs: on your house!

 Another plus that comes with listing your home in Salt Lake City and Beyond during the winter months is the logistical reasons that keep the proportion of non-serious “shoppers” from occupying your time. I find that the majority of those who are looking for homes during the winter months are disproportionally intent on actually buying a home. 

On the other hand, some of those same logistical forces serve as counterarguments against listing your home during the winter. They are the same reasons many real estate agents tell their clients to wait until the spring to list. It’s true that there are fewer daylight hours for home viewings…not to mention spates of bad weather, and the greater chance that holiday travel will interfere with both buyer and seller schedules.  

All in all, I think the arguments cancel each other out: I don’t advise you to allow the time of year to prevent you from listing your home in any season. If you are otherwise ready to sell your home this month or next, I say -- make the most of the season! Who knows – it has happened more than once that the right buyer is out there right now. 

I have marketing plans for Salt Lake City and Beyond homes that work every month of the year -- if you are ready to sell, I’d be delighted to help you launch your sale this holiday season!

Sleighful of Holiday Cheer Enlivens Home Sales

Holiday Cheer Aids SALT LAKE CITY AND BEYOND Properties for Sale
  

Good Ol’ Holiday Cheer Replaces Glitz and Glam

 
When you visit any of the properties for sale in Salt Lake City and Beyond this time of year, it’s likely you will notice a little extra sparkle. 

The holiday touches may be variations on the icy blue-and-white color palette -- or dashes of silver brightening the traditional red-and-green decorations. If you’ve been reading the home décor magazines, you know how the leading trends this winter are all about glitz and glam: designer touches meant to brighten even the darkest winter day (remember, this year’s shortest day -- December 21 – is right around the corner!). Still, I always suspect that a little nostalgic holiday warmth can add the same kind of welcoming touch…without breaking the piggy bank!

If you are planning to join those with local properties for sale this season, a few stalwart touches can go far to add a sleighful of holiday cheer. 


Christmas carols may be blaring through every loudspeaker from supermarket to mall, but don’t assume they have been terminally overused. For a December showing or open house, the warm feeling that familiar music evokes still works its magic when played in a home environment. But do keep the stereo volume set to background level – no one likes having to shout to be heard (even over six geese a-laying).   

Many families used to host an annual “Holiday Open House” for friends and neighbors. That custom may be largely forgotten, but those with local properties for sale can add some of that same good feeling to their own open houses by adding nostalgic touches -- like serving hot cocoa and marshmallows to attendees.  It’s a sweet, almost rustic touch that brings good old-fashioned hospitality to a modern marketing event.
 

 Whether you are considering buying or selling property this winter, there really is no need to put off a decision until after the New Year. December can be a great time to get started -- and I am here this holiday season to help make your property dreams come true!

A Bank-Owned Home is Not a Foreclosure!

Buying a Local Home from the Bank? 


Buying Bank-Owned Homes Takes Care, Persistence 

The difference between a ‘Foreclosure’ and a ‘Bank-Owned Home’ may be technical, but important to understand. Foreclosures are properties that are auctioned off in a court process. A bank-owned home, on the other hand, is one that has reverted to the mortgage issuer: a bank. 

A foreclosure can change hands with the bang of the auctioneer’s gavel: it’s a cash-in-hand situation, carrying all of the excitement (and risk) of any auction. With a bank-owned home, the ‘owned’ is attached by hyphen to a banking institution – a spot not exactly known for excitement. 

True, banks are eager to sell, since a bank-owned home represents an unprofitable financial and management burden. But banks are by definition cautious, thorough, and usually (unlike auctioneers) prone to moving like molasses in December. So, persistence and care will be needed to take advantage of the potential bargain a local bank-owned home represents. 

Since you will need to prove you are qualified to buy a bank-owned home, being pre-approved for a loan will come in handy. It will also be important to have a good home inspector at the ready, since most bank-owned properties are sold as-is. You will want detailed information about the condition of the house and likely cost of repairs that need to be made. 

And while there are many sources for identifying a suitable bank-owned home online, when it comes to the next step -- putting together a successful offer -- enlisting an experienced local real estate agent is standard practice. Sometimes a bank-owned home can be priced under market, sometimes over -- but if you want to write the winning offer, you need to examine and understand the latest numbers. 

By looking up the market comps and procuring costs faced by banks, your agent will help you present an offer that is both attractive to the bank and to you. 

This winter, whether you are looking for an entry-level condo, a bargain fixer-upper, or a luxury REO, as soon as you are ready to start the search, call me -- I will get you a list of local bank-owned homes now accepting offers.

Scrooge-less Holiday Season Looks Likely

Salt Lake and Beyond...Holiday Tipping Guide

With the rancorous elections finally behind us and local property prices on the rise, public sentiment is markedly improving.  Last week, Neilson released its Consumer Confidence Survey, now showing the strongest level in more than four and a half years. 

My guess is that 2012 will likely mark the year that holiday tipping makes a comeback, too. “People are more generous this year because when the economy gets better, people do better.” is what international etiquette expert Jacqueline Whitmore had to say. The founder of the Protocol School of Palm Beach added, “They tend to be happier around the holiday time.”

That’s true outside of Palm Beach, too: many Utah homeowners who felt forced to become latter day Scrooges during the previous few years may be feeling slightly less anxious about the future of the family budget. Those who feel they want to thank the people who help run their households and maintain their property will, as usual, run into the perpetual query: what’s enough? What’s too much?

Like gift giving in general, tipping is totally optional – if there were hard-and-fast rules, part of the pleasure of giving (and receiving) would be lost. Nevertheless, I thought I would share these guidelines I came across in a story on Yahoo! Finance:  
 

Garbage Collector     
Suggested Tip: $15 to $30

         Beautician

Suggested Tip: Cost of One Session

Dog Walker
Suggested Tip: One Week's Pay

Extracurricular Instructors
Suggested Tip: Creative Gift

Landscaper/Gardener
Suggested Tip: Cost of One Visit

Personal Trainer
Suggested Tip: Cost of One Session

Mail/Package Delivery
Suggested Tip: Gift

Teacher
Suggested Tip: Gift/Gift Cards

         Favorite Real Estate Blogger
Suggested Tip: Your Next Listing
(Okay, I might have added that last one).  But with property values on the rise, if you are considering buying a home this winter, you needn’t let the holidays delay your plans.  Sometimes the best time to buy a property in Salt Lake City and Beyond... is when everyone else is out shopping!