Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 3/4/2018

Establishing a competitive initial asking price for your house often can be difficult. Fortunately, we're here to help you determine the ideal asking price for your home, regardless of the current housing market's conditions.

Now, let's take a look at three tips to help you set the right initial asking price for your home.

1. Study the Housing Market

How does your residence stack up against the competition? Evaluate the prices of comparable houses in your city or town, and you can narrow your home price range.

Furthermore, it helps to examine the prices of recently sold residences in your area. With this housing market data, you can find out whether you're preparing to enter a buyer's or seller's market. Then, you can map out your home pricing strategy accordingly.

2. Conduct a Home Appraisal

A home appraisal offers a valuable learning tool for a home seller. It allows a seller to receive expert insights into the value of his or her residence. As a result, a seller can get a property valuation from a home appraiser and use this figure to establish a competitive home asking price.

In addition, it may be beneficial to conduct a home inspection prior to listing your house. An inspection enables you to learn about any problems that may affect your house's value. And if you choose, you can use a home inspection report to prioritize assorted home repairs that may help you boost the value of your house.

3. Collaborate with a Real Estate Agent

If you're unsure about how to price your residence, there is no need to stress. In fact, you can hire a real estate agent to receive comprehensive support at each stage of the home selling journey.

A real estate agent is happy to help you assess your house and determine the right price for it. He or she is unafraid to be honest, and as such, will offer unbiased home pricing recommendations. That way, you can establish a competitive price from day one of the home selling journey and increase the likelihood of a quick home sale.

Also, a real estate agent goes above and beyond the call of duty to assist a home seller. This housing market professional will set up home showings and open house events to showcase your residence to prospective buyers. Plus, he or she will keep you up to date about offers on your residence. A real estate agent will even negotiate with a buyer's agent on your behalf to ensure you can maximize your home sale earnings.

Perhaps best of all, a real estate agent will respond to your queries throughout the home selling journey. If you ever have home selling concerns or questions, you can simply talk to your real estate agent and receive expert support.

Take the guesswork out of pricing your residence – use the aforementioned tips, and you can set a competitive price for your home in any housing market, at any time.





Posted by Thomas Murphy on 2/26/2018

This Condo in Dennis, MA recently sold for $135,000. This style home was sold by Thomas Murphy - Pine Shores Real Estate.


78 Center Street , Dennis, MA 02639

Dennisport

Condo

$134,900
Price
$135,000
Sale Price

4
Total Rooms
2
Beds
1
Baths
This is an estate sale some furniture could be included in sale. First floor unite in rear of complex, well off the street. All one level living with private storage area in basement. Heat and Cable included in Condo fee Close to everything Dennisport has to offer. Hard to find this type of listing






Tags: Real estate   Condo   Dennis   02639  
Categories: Sold Homes  


Posted by Thomas Murphy on 2/25/2018

You’ve made it through the bidding process and you’ve finally unpacked the last of your boxes. It’s finally time to show off your new home to your friends, family, and new neighbors! Throwing a party can be intimidating, especially a housewarming party since it's not every day you move to a new house. If you don’t know where to start to host your housewarming party keep reading for some tricks and tips below. Send out the invites. In the age of technology sending out e-vites is as easy as a few clicks and saves on postage, however, physical invitations include the opportunity to add a handwritten note to your loved ones and new neighbors. This adds a personalized and thoughtful touch to let them know you look forward to having them attend your party. You may also want to consider allowing guests to bring a friend. Doing so will also help you expand your social circle in your new community and make new acquaintances more comfortable. Including a reply by date will give you the opportunity to know how many guests to expect and allow you to plan accordingly. Clean and stock your home. A tidy home will impress your guests. Ensure that every room is spick and span as your guests will be hoping to see each room in your new home. Make sure your bathroom is well stocked for your guests. Think items like toilet paper, soap, air freshener, and extra towels. Go the extra mile and make your home smell good with lightly scented candles or an oil diffuser. Plan your menu. Skip the sit-down dinner in favor of finger foods. You will also want to keep dietary restrictions in mind when creating your menu, include a few vegetarian, dairy free and/or gluten free options to play safe. Creating a few different table spreads will allow for guests to mix and mingle throughout the house and avoid an overcrowded room. Greet guests. Be sure to greet incoming guests at the door or assign someone to do so for you to create a welcoming atmosphere for your party. Offer to take any coats or bags and make introductions to other guests to encourage a sociable atmosphere. Entertain. Have some simple games on hand to occupy guests like horseshoes or tic-tac-toe. You’ll also want to have a playlist prepared ahead of time to encourage a party atmosphere. If putting together a playlist isn’t your thing look into a music service that will automate one for you so that all you need to do is pick the atmosphere you would like for your party. The idea of hosting a party might seem like the last thing you want to do after the stress of buying and moving house however you can throw a party that is just as much fun for you as it is for your guests. By planning a casual housewarming party you can put in minimal planning and focus more time on having fun with your friends, family, and new neighbors.




Categories: Uncategorized  


Posted by Thomas Murphy on 2/18/2018

Buying a home is one of the biggest and most useful investments that you’ll make in your lifetime. One thing you should understand when you're making big improvements to a home or doing any kind of high return renovations is that of the Capital Gains Tax. This tax can take away from the return on your investment, especially under the right circumstances. Even with minimal improvements to a home, if an area has seen an upswing in popularity, you could end up paying the price when you go to sell. 


Taxpayer Relief Act


The Taxpayer Relief Act of 1997 can help many people to hang on to the returns they see from the sale of their home. 


Previously, homeowners could qualify for a one-time tax exemption of up to $125,000 on the sale of a home. They also could combine the earnings in on the purchase of another home. Currently, there are a few ways that you can save on the Capital Gains Tax thanks to the TRA. 


House Flippers And Homeowners Aren’t Equal


Not all home sales receive an equal tax treatment. If you are flipping houses, you’re out of luck when it comes to receiving profit-friendly tax breaks. You need to have lived in a home as your primary residence for two out of five years of owning a home in order to qualify for tax breaks. If this isn’t the case, you’ll end up paying a Capital Gains Tax on the sale of the property. If you’re a professional house flipper, your homes are considered inventory and taxed as income. The tax on this can vary from 15% to 20%, depending upon the tax bracket you fall into.



The Type Of Property Matters When It Comes To Taxes


Whether the property is a primary place of residence, a vacation home, or a rental property, the gains are all taxed differently. If you own a second home that you’re interested in selling, it’s not treated the same as a primary residence for tax purposes. You’ll be taxed based on the amount of time that you owned the property, or the amount of time that the property was used as a second home. The taxes are based on a prorated amount of time.


The Price Of The Home Doesn’t Matter


You may think that higher priced homes are taxed more heavily than less expensive homes. This would be the case when it comes to property taxes, but it isn’t so when we’re talking about Capital Gains Taxes. These taxes are based on how much profit is made from the sale of the home. If a loss was taken, or the homeowner “broke even,” they may not owe as many taxes. A smaller home that had significant improvements made could be taxed a bit more than a home that was sold at a higher price with fewer upgrades.





Posted by Thomas Murphy on 2/11/2018

Buying a home is a complicated process with a lot of opportunities to make costly mistakes. There’s no high school class to prepare you for buying a home but there probably should be. If you’re a first time homebuyer and you came across this article looking for advice, congratulations--you’re already doing the most important thing you can when making a big financial decision: the research.

In this article, we’ll cover some of the most common mistakes that first time homebuyers make when entering the real estate market. We’ll break it down by the three main phases of home-buying: saving for a home, hunting for a home, and signing a mortgage.

Saving for a home

One of the first lessons that all first time homeowners quickly learn is that being able to afford your monthly mortgage payments doesn’t mean you can afford a home. Many first time buyers are often coming from living situations where certain utilities are included (water, heat, electricity, etc.). Aside from those obvious expenses, there are also things like property tax and home insurance to budget for, both of which may increase. Finally, when you’re living in an apartment and your faucet breaks, you simply call the landlord. When you own a home, especially an older home, be prepared to spend on repairs and to start learning basic maintenance skills that will save you money.

The hunt for your first home

Now that you’re aware of the costs, it might be tempting to jump in and start looking at homes. Another common mistake first time homebuyers make is to waste time looking at homes before they’ve met with a real estate agent or have gotten pre-approved for a loan. Start there, then once you know the scope of your home search, you’ll have a much more relaxing hunt for your new home.

Another mistake that first time homebuyers make is to underestimate the time and commitment it takes to find a home. When you work with a real estate agent, make sure you are available at all times. Keep your phone nearby, stick to your schedule for viewing homes, and keep a list of each home you’re considering. Showing initiative and dedication won’t just help you stay organized, it will also show your agent and the home seller that you are worth their time.

Mortgage mistakes

One of the most common mistakes that buyers make when it comes to their mortgage is to fail to shop around for a lender. In fact, the Consumer Financial Protection Bureau found that only half of all buyers considered more than one lender for their home.

Buyers, first time and repeat, often think their credit report is set in stone. What they don’t realize is that the three main credit Bureaus (Experian, Equifax, and TransUnion) can all make mistakes on your credit. Check your detailed credit reports and fix any errors long before applying for a mortgage to increase your chances of getting a good rate.

If you avoid these common mistakes and continue to do your research along the way, you should be able to save yourself some headaches and some money in the long term.




Categories: Uncategorized