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What Is A 1031 Exchange?

One of the most common real estate investment transactions is the 1031 Exchange. Simply put, a 1031 Exchange (also called a “like-kind” exchange) is the swap of one investment asset for another which defers capital gains taxes on profits.

A like-kind asset refers to selling one class of investment for a similar type of asset. For example, an investor currently holds several multi-family properties, such as duplexes, and wishes to sell them all in order to purchase a larger multi-family property, such as an apartment complex. This would qualify as a like-kind exchange.

There are specific IRS rules which must be carefully adhered to in order to qualify for t...

Summer Home Maintenance List

The warm months are here and while you’re enjoying some extra hours of daylight, it’s also a great time to catch up on some maintenance tasks that have been neglected during the winter. While your list might vary a little, here is a great starter list to help you tackle some of those much needed maintenance chores this season.

• Yard Maintenance - It’s time to schedule that weekend yard project. Trim trees and shrubs, mow the lawn and plant some flowers. Clear debris from rain gutters and if needed add new mulch and correct drainage issues.

• Touch up Paint and Siding - Review the exterior of your home for chipping paint or worn siding....

Tips for Selling in Summer

Summer has traditionally been the best time to sell a home. Not only do many families take advantage of moving when the kids are out of school, but in climates where winter weather is unpredictable or severe, the warmer months make it easier to be away for showings. With more homes on the market, how can you maximize your potential for a great offer among the options? Fortunately, you can take a few steps to ensure your home stands out from the crowd.

Tips for Selling in Summer

 Control the Climate – The first thing a buyer will notice when they walk into a home is the temperature. If the weather is warm and humid, it’s critical you keep the home cool. ...

Is the Investment to Make your Home a "Smart Home" Worth it for Resale?

Over the past few years, smart technology has really blossomed into a huge market. With more-and-more devices offering connectivity and lower prices, almost all households have some kind of smart device in their home. While some smart devices are simply “nice to have,” many can actually increase the value of the home; if you are considering a move in the future, learning which smart upgrades will increase your home’s value is important.

Here are a few of the best smart home upgrades:

 Smart Thermostats – Energy saving smart thermostats can sense when the home is occupied and vacant to control the ...

Things You Should Avoid After Applying For a Home Loan

You’ve done everything right so far; you’ve found a great lender, received a pre- approval and submitted your loan package for final approval. Now you’re done, right? Wrong. Until you close on your new loan, it’s more important than ever to keep your credit steady; most lenders perform one last credit check right before they fund and a decline in your score can mean the difference between getting the home and losing the loan.

Things You Should Never do After Applying for a Loan

• Don’t Change Jobs–While sometimes it’s unavoidable, especially if a new job is the reason for the move, but any cha...

5 Home Buying Acronyms You Need to Know

For many, the idea of buying a new home can seem overwhelming; the reality is the process is rather simple once you understand the steps. Part of that understanding is learning the most common acronyms used in buying a home. Here is a quick reference list of the 5 most often used acronyms and how they pertain to your transaction.

1. APR(AnnualPercentageRate)–APR is the total cost of borrowing money; this includes the interest rate, closing costs and other fees associated with the loan.

2. FRM(FixedRateMortgage)–A fixed rate loan is one where the interest rate remains the same over the life of the loan.

3. DTI(DebttoIncome)–DTI is the pe...

The Benefits of Growing Equity in Your Home

Over the past few decades, the way we view home ownership has changed. Unlike previous genera;ons who bought a home with a 30 year mortgage and celebrated the day they made their last payment, today’s home buyers rarely stay in their home that long. As a result, the way we view mortgages has changed as well and oAen buyers are not building the equity in their homes the way we used to.

But there are benefits to building equity and paying down the loan, here are just a few.

• Flexibility–Having equity in your home gives you the flexibility to move if you need to or want to. For home owners who plan to either to buy a large home or per...