February 2012

Found 7 blog entries for February 2012.

Top Tips for Selling Your home!

CLEAN IT!  Your home really does need to be clean and ready to move in.  Buyers want to be able to unpack their kitchen and bath items right away without having to do a major over-haul to clean the home first.  

PAINTing is one of the least expensive things you can do to update your home. Twenty years ago, knotty pine cabinets and dark hardwood kitchen cabinets were all the rage.  However, in just a few days time and a little sweat equity, you can update your kitchen by painting your cabinets white.  The kitchen will appear fresh and clean.  Additionally, don't overlook tidying up baseboards as well as inside cabinets and pantries. 

CONSIDER PURCHASING NEW HARDWARE to go along with the new paint.  Brushed nickle

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Frisco, Texas was named America's Fast Growing City according to MSN.

The population of Frisco, TX tripled in the 2000's and was the run-away leader.  Several factors contributed to this explosive growth.

  1. Frisco Independent School District is one of the best in the state.
  2. Collin County Community College, Dallas Baptist University, and Amberton University all have campuses in Frisco.
  3. The median home price in Frisco is approximately $239,000.
  4. Median Household Income is approximately $101,600
  5. Several Large Employers are located within or border Frisco, TX.  These include:  T-Mobile USA, JC Penney, YUM Brands, HP, Frito Lay, Dr Pepper, Intuit, Bank of America Mortgage Lending Division and many more.No wonder city officials recently gave this
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Congratulations to the Frisco High School Boys Basketball Team!

They are the 9-4A District Champions!  They will play Rockwall High School on February 21st in Bi-District play at Allen High School, 300 Rivercrest Blvd, Allen, TX at 7:30pm.  I am sure they would love your support!

Way to go Racoons!

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2012 is off to a great start.  Homes sales in Frisco, TX are up 27% over Jan 2011 with 164 homes sold.  Also, the median home price in Frisco is up 22% with the average sales price in January of $322,785.  The best news is for those of you looking to sale your home.  The average Days on Market for listings is now down 18%.   This just shows that despite what you may be hearing in the media, our market is still hot!  It is a great time to buy or sale real estate in Frisco!  

jan_2012_ntreis_activity_716

Thanks to Hexter Fair First American Title for providing this activity report.

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Once again, a rumor is circulating the internet that a 3.8% tax is now due on home sales.  Here's the truth!

The facts are that individuals with incomes over $200,000 a year ($250,000 for married couples) will be subject to a 3.8% tax on profits of more than $250,000 ($500,000 for couples) from the sale of a primary residence. So, a husband and wife who make more than $250,000 a year and sell their home for $600,000 more than their purchase price would pay $3800 in tax.  Of course, in today's real estate market, few homeowners are making that kind of profit on the sale of their property.  If you have any questions about your specific situation, don't hesitate to give us a call.  

972.731.5999

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If you took advantage of the First-Time Homebuyer Credit, the IRS has now released a "tool" to help make the process of determining your pay-back requirement a little easier.  This will be helpful as the IRS is no longer mailing reminder letters to taxpayers who have to repay the credit.

In 2008 Congress enacted the First-Time homebuyer Credit in the aftermath of the housing crisis.  If you bought a home in 2008 and claimed the First-Time Homebuyer Credit, the credit is similar to a no-interest loan and must be repaid in 15 equal annual installments that began with your 2010 return.  In 2009, Congress amended the ruling to eliminate the pay-back requirement.  However, anyone who sold their home, or stopped using it as their main home, may have to repay

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