Thursday, November 3, 2016 / by Glenn Musto
Glenn Musto | Thursday, November 3, 2016.
Yes, Team Musto guarantees that we can and will sell your home. Before detailing exactly why we can make such a guarantee, allow me to share a few tips about how a luxury home should be marketed today.
The Sweet-Spot Price: The “sweet spot” price for any home is the asking price that attracts the most prospective buyers. Typically this represents the fair market value for your home. Some Realtors suggest that after you determine the current value of your home, you reduce the asking price to approximately 15 percent below its market value. Their theory is that – once attracted by the bargain price – prospective buyers will bid up the price to even more than what the home is worth. Most sellers and Realtors aren’t willing to risk this, but it is one strategy to sell a home fast in a buyers’ market. Conversely, if your price is too high, potential buyers may not even look at it. Since s/he ha ...
Monday, October 31, 2016 / by Glenn Musto
Twenty years ago, the median value of waterfront properties across the U.S. was 64 percent more than the median value of all homes.
Today, the cost for waterfront property averages nearly 2.5 times the cost for similar non-waterfront properties. As might be expected, the premium for waterfront property varies significantly from one region of the country to another.
For example, In Virginia Beach, Virginia, waterfront living is 3.5 times more expensive. In some areas of Pinellas County, Florida and nearby Tampa, you may be able to buy nearly eight non-waterfront homes for the price of one that is waterfront. According to Zillow, Sarasota waterfront home prices carry a premium estimated at 1132 percent.
The most expensive U.S. waterfront homes are in Hawaii, California, and along the coast of Long Island Sound. The least expensive are in Florida and the Midwest. Comparing the top 250 cities by population, the most expensive waterfront homes are found al ...
Thursday, October 20, 2016 / by Glenn Musto
Pitfalls of Overpricing your Home
Glenn Musto|Thursday, October 20, 2016. When preparing to sell your home, a significant amount of thought and planning should go into determining the asking price. The most common mistake that sellers make is to overprice their homes. So – how should you go about determining the best price?
You could personally search through homes available online, in local newspapers, Real Estate magazines, or on the MLS (Multiple Listing Service) to discover prices for similar homes. A professional Relator will also look at recent sales. Why? An experienced Relator understands that active listings are active for one reason: These homes haven’t sold. While it’s important to be aware of your competition’s pricing, searching on your own through the MLS or other sources for current listings may accomplish nothing more than to tell you what your home won’t sell for.
Evaluate the price “range” that yo ...
Thursday, October 13, 2016 / by Glenn Musto
Glenn Musto | Thursday, October 13, 2016. As the housing market continues to improve across the United States, more and more people are buying homes. But…are there significant financial benefits to owning Vs renting your home? Absolutely. One major advantage is that you can reduce the amount of taxes you will owe at the end of the year. Tax breaks are available for any home, be it a mobile home, single-family residence, town house, condominium or co-op apartment.
Regardless of whether you are a first-time or longtime homeowner, it will be easier for you to take advantage of every tax deduction and/or tax credit at your disposal by keeping good records throughout the year. In order to receive all the tax breaks provided by home ownership, you must itemize your taxes. This means completing Form 1040 and Schedule A, where you can detail your tax-deductible expenses.
NOTE: The author is not a tax attorney, CPA, or tax expert of any kind. The following re ...
Thursday, September 29, 2016 / by Glenn Musto
Which Home Improvements Return A Profit?
Glenn Musto | Thursday, September 29, 2016. Homeowners, Realtors, and Building Contractors will almost always have different opinions about what percentage return you can expect from spending money on various home improvements.
According to a 2005 study for the National Association of Realtors, every 1,000 square feet added to a home boosts the sale price by more than 30 percent. A Remodeling Magazine article reports that you can expect 86.4% return on money spent for a bathroom addition. Another article in the same publication reports: “In Baltimore, a $9,400 bathroom remodel recouped 182 percent of its cost at resale, according to Remodeling’s 2004 study.” Yet another expert says, “If you want to get the most out of your home renovation dollars at resale, stay away from the bathrooms.”
Confusing? Yes, it can be. There are certain guidelines, however, that can help with your decisions. Generaliz ...