Top Ten Tax Tips for Home Sellers
September 7th, 2011 categories: Real Estate News, Selling Real Estate
The IRS doesn't always have to inspire dread, sometimes they can help us make our dealings with them a little easier. The taxmen have released their 10 tax tips for home sellers. This handy information can help sellers ease the stress of tax time. Here's the list: In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale. If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases). You are not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home. If you can exclude all of the gain, you do not need to report the sale on your tax return. If you have a gain that cannot be excluded, it is taxable. You must report it on Form 1040, Schedule D, Capital Gains and Losses. (more...)| Discussion: Your Comments Please »
Bryan / College Station’s Very Own Chef Tai Ranks #1 in The Great Food Truck Race
September 1st, 2011 categories: Community Events, Restaurants & Fun
Chef Tai's Mobile Bistro has been nominated for Food Network's The Great Food Truck Race! This contest pits the best food trucks from around the nation in a winner take all competition based on votes from fans. Chef Tai is currently in 1st place due to the diligent food lovers of this great community. Earlier in the day, though, Chef Tai dropped to 2nd place. So we all have to keep voting to keep our hometown truck in 1st place! Chef Tai has expressed his great appreciation for the outpouring of support from the Bryan/College Station area as well as the great Aggie Network. Let's show the rest of the country how proud we are of our community and the great entrepreneurs in it. If you haven't had any of Chef Tai's food before, you are seriously missing out. You can check his website at cheftai.com, to find out when the truck will be near you! Try the Kobe burger, it's paradise on a bun. Remember to vote everyday at http://foodtrucks.teamdigital.com/, let's bring home a victory! Now that you know where to eat lunch tomorrow, let me help you find your new home or sell your current one. Feel free to give me a call @ 979.255.1839! Clay Lee - Realtor Century 21...| Discussion: Your Comments Please »
Do we need more foreclosures?
August 31st, 2011 categories: Foreclosures, Real Estate News
Foreclosure is a scary word, but experts say it is a word that needs to used more often. It is something that no one wants more of, but it is something that this market very well may need. The Obama administration has tried with multiple programs to help save the fledgling market to no avail. According to CNN Money, some housing experts say that if the administration is interested in the future, it should help speed up the foreclosure process to get the delinquent borrowers out and to get the foreclosed homes on the market and back into use. Some of the July '11 numbers on delinquency are staggering: 2.2 million loans in foreclosure 37% behind more than 2 years 34% behind more than 1 year, less than 2 years 71% total behind more than 1 year Compared with July '09 numbers: 6% behind more than 2 years 35% behind more than 1 year, less than 2 years 41% total behind more than 1 year Thomas Lawler, founder of Lawler Economic & Housing Consulting, thinks this is a dangerous pattern emerging. "Delaying foreclosure increases the percentage who'll likely never catch up", Lawler said. The delaying of foreclosure also means that vacant properties can fall further into disrepair and this can hurt surrounding property values. The other...| Discussion: Your Comments Please »
Home buying Help for Heroes
August 25th, 2011 categories: Buying Real Estate
Part of the American Dream is owning your own home, now there is a program to help America's heroes achieve that part of the dream. Active duty personnel (Active Duty, Reserve & National Guard), employees of the U.S. Departments of Homeland Security & Defense, and Veterans are eligible to qualify for the Dream Makers Program by the Pentagon Federal Credit Union Foundation. This program allows qualifying first time home buyers to receive a grant of up to $5,000 for a down payment and closing costs. Do you qualify? You are eligible if: You are active or former Military - Active Duty, Reserve, National Guard, Veteran, DoD or DHS You are a first time home buyer. Or have not owned a home in 3 years or have lost your home through divorce or natural disaster. Your gross household income, that you use to qualify for your mortgage is: A maximum of $55,000 per year or a max of 80% of the median income of your community based on your family size Now that you know that you are eligible, then what? (more...)| Discussion: Your Comments Please »
If a picture is worth 1000 words, how many is a video worth?
August 24th, 2011 categories: Selling Real Estate
A little while back I wrote a post on the The Importance of Good Pictures When Marketing Your College Station Home, while this is still absolutely vital to the success of your sale, we are in the midst of the YouTube age and it's role can not be ignored in marketing your home for sale. Just like a good movie can bring you into that world, a good video walkthrough can bring you right into a home. Not only does it give potential buyers a fairly true look at the layout of your home, but it allows them to catch details that might not be the center of attention in a photo. When you give buyers a 180° look (or even a 360° look if space allows) in full video you are able to pique their interest and create a longer lasting impact on them. Let's look at it this way, a buyer finds 2 different homes in the same neighborhood, similar square footage, similar amenities, & a similar look. Which home will they remember if one has a video walkthrough and the other doesn't? The one with the video, because it sets it apart from the competition. Below is a great...| Discussion: Your Comments Please »
Feast of Caring raises $56,000 for Brazos Valley Food Bank
August 22nd, 2011 categories: Community Events
This year's "Feast of Caring" for the Brazos Valley Food Bank should be considered a HUGE success! The event, held on August 10th at the Brazos Center, served up a modest meal of rice, beans, sausage, salad and a tasty dessert. Although, the cost of the event was free for attendees the Food Bank raised over $56,000 in a few short hours. The generosity displayed by residents of Brazos Valley showed an increase of donations by about $32,000. These donations will be put to great use by the Food Bank to ensure that the less fortunate in our area can put a decent meal on the table. I would like to personally thank each and every person that came out to the event and helped make it a success! I know I enjoyed seeing everyone come out, let's hope we can make next year even bigger and better! If you weren't able to attend, but would still like to donate you can find more information at: http://www.bvfb.org/donate.html Clay Lee - Realtor Century 21 Beal, Inc. (979) 255-1839 www.ClayLee.com clay@century21bcs.com Timeless Service, Quality, and Experience Guaranteed| Discussion: Your Comments Please »
