When you’re evaluating how much home you can afford,
make sure you factor in the tax advantages of homeownership.
You can claim some tax deductions if you work from home, but be sure you're entitled to them before taking them.
Owning your home not only allows you to build wealth through appreciation, but it can also reduce the amount of income tax you pay every year.
Here are seven tax benefits for homeowners.
1. Homebuyer tax credits
If you purchase your first home before April 30, 2010, you’re entitled to a tax credit of up to $8,000. If you currently own a home, but sell it to purchase another home before April 30, 2010, you’re eligible for a federal tax credit of up to $6,500.
2. Deductions for loan fees
Typically, you can deduct the “prepaid interest” you paid when you got your mortgage loan. That includes points, loan origination fees, and loan discount fees listed on your settlement statement, even if the seller paid those fees for you. Each time you refinance your home, you can deduct prepaid interest fees.
However, you must meet certain requirements to take the prepaid interest deductions when you purchase or refinance your home. Check with your accountant to be sure you’re following the rules.
3. Property tax deductions
In the year you purchase your home, you’re entitled to deduct the real estate taxes you paid at the closing table. You can continue to deduct the property taxes you pay each year.
4. The mortgage interest deduction
Every year, you can deduct the amount of interest and late charges you pay on your mortgage and home equity loans, though there are limitations. If you’re required to purchase private mortgage insurance (PMI) because you made a downpayment of less than 20% on your home, you can also deduct those premiums as mortgage interest expenses.
5. Home office expenses
If you have a home office you use only for business, you may be eligible to deduct the prorated costs of your mortgage, insurance, and other expenses related to that space. The government scrutinizes home-office deductions closely. Be sure you’re entitled to the deductions before claiming them.
6. The costs of selling your home
In the year you sell your home, you can deduct the costs of selling it, including real estate commissions, title insurance, legal fees, advertising, administrative costs, and inspection fees. You can also deduct decorating or repair costs you incur in the 90 days before you sell your home.
7. The gain on your home
If you lived in your home for at least two of the previous five years before you sell it, the government lets you to take up to $250,000 of profit on the sale of your home tax free. That amount is doubled for married couples. This deduction isn’t available on rental or second homes.
The government also allows you to subtract from your home sale profit any amounts you spend on improvements, such as window replacement, siding, or a kitchen remodel. Those deductions are in addition to the tax credits you can receive in 2010 for making energy-saving upgrades. Money invested for routine maintenance and repairs doesn’t count.
This article includes general information about tax laws and consequences, but is not intended to be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws vary by jurisdiction.
Tuesday, May 31, 2011
Real Estate Gifts to Family Members? Notify IRS
Real Estate Gifts to Family Members? Notify IRS
Be sure to remind your customers who are buying real estate as a gift to a family member that they need to report such real estate gifts to the Internal Revenue Service. The IRS is increasingly scrutinizing these gifts using state land-transfer records to prove the omissions, The Wall Street Journal reports.
Any gift--including property--to a person that is valued at more than $13,000 requires the giver to let the IRS know by filing a gift-tax return (Form 709), even if the transfer falls within the $5 million lifetime exemption amount.
In a court document from December, the agency said that in the last two years 323 taxpayers had been examined for failing to report possible real estate gifts, another 217 were being examined, and 250 were being considered for review, The Wall Street Journal reports.
The states that have handed over information on gift-like transactions are Florida, Connecticut, New Hampshire, Hawaii, Nebraska, Tennessee, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, Virginia, Washington, and Wisconsin, according to court documents. Through its investigation, the IRS so far has uncovered a high "failure-to-report rate" in these states--with noncompliance rates reaching even 100 percent in Ohio based on case reviews as well as 90 percent in Florida and Virginia, 80 percent in Washington, 60 percent in Connecticut and Nebraska, and 50 percent in Wisconsin.
Be sure to remind your customers who are buying real estate as a gift to a family member that they need to report such real estate gifts to the Internal Revenue Service. The IRS is increasingly scrutinizing these gifts using state land-transfer records to prove the omissions, The Wall Street Journal reports.
Any gift--including property--to a person that is valued at more than $13,000 requires the giver to let the IRS know by filing a gift-tax return (Form 709), even if the transfer falls within the $5 million lifetime exemption amount.
In a court document from December, the agency said that in the last two years 323 taxpayers had been examined for failing to report possible real estate gifts, another 217 were being examined, and 250 were being considered for review, The Wall Street Journal reports.
The states that have handed over information on gift-like transactions are Florida, Connecticut, New Hampshire, Hawaii, Nebraska, Tennessee, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, Virginia, Washington, and Wisconsin, according to court documents. Through its investigation, the IRS so far has uncovered a high "failure-to-report rate" in these states--with noncompliance rates reaching even 100 percent in Ohio based on case reviews as well as 90 percent in Florida and Virginia, 80 percent in Washington, 60 percent in Connecticut and Nebraska, and 50 percent in Wisconsin.
Tuesday, May 10, 2011
5 Real Estate Scams You Need to Know About
Don't be duped by mortgage fraud. Here are a few common scams and the red flags you should look for in a transaction.
Mortgage fraud is pervasive: An estimated $4 billion to $6 billion in annual losses result from mortgage fraud, according to FBI reports. “An entire community can be damaged by mortgage fraud,” says Rachel Dollar, a lawyer from Santa Rosa, Calif., and editor of the Mortgage Fraud Blog. Mortgage fraud can lead to a spike in foreclosures, home values plummeting, and lenders raising their rates and fees to recover losses.
The crimes are often complex, involving several parties and occurring over multiple transactions. To protect you and your clients, educate yourself about mortgage fraud and be on guard for any warning signs in a transaction. You can start by reviewing these five scams, and then test your knowledge by taking our Mortgage Fraud Quiz.
1. The Foreclosure Rescue Scheme
The Scam: “Rescuers” promise cash-strapped home owners that they can save their home from foreclosure. The rescue, which involves paying upfront fees, can take multiple forms, such as the perpetrator obtaining a new loan on behalf of the owner or by having the owner sign over the home’s deed and then rent the home until they can repurchase it. Eventually, the home owner loses the home, either to foreclosure or the fictitious rescue company.
Red Flags: With foreclosure rescue programs, borrowers are often advised to sign over the title of their house to a third party, become renters of their home, not contact their lender, or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud.
2. Loan Documentation Fraud
The Scam: This fraud involves numerous schemes in which a borrower provides inaccurate financial information — such as about their income, assets, and liabilities — or employment status in order to qualify for a loan with lower rates and more favorable terms. Occupancy fraud is one growing area: Borrowers say they plan to live in the property when they actually intend to rent it.
Red Flags: Documentation may raise suspicion if the employer’s address is shown as a post office box, accumulation of assets compared to the person’s income appears too high or low, the new house is too small to accommodate occupants, the person has no credit history, or the application is unsigned or undated, according to Fannie Mae.
3. Appraisal Fraud
The Scam: A faulty appraisal — saying a property is worth more than what it really is — is connected to many types of mortgage fraud. It entails manipulating or overstating comparables, market values, or property characteristics in order to obtain a higher appraisal. The higher property appraisal, which generates false equity, is done by falsifying an appraisal document or using an appraiser accomplice to obtain the higher value.
Red Flags: Be skeptical of appraisals that are dated prior to the sales contract, list comparable sales that do not contain similarities to the property or are outside the neighborhood, the owner is not the seller listed on the contract or the title, or a third party participating in the transaction orders the appraisal, Freddie Mac warns.
4. Illegal Property Flipping
The Scam: This entails purchasing properties and reselling them at inflated prices. These scams usually involve faulty appraisals and inaccurate loan documents. The property is then refinanced or resold immediately after purchase for an inflated value. The home is purchased at a higher price, often by straw buyers working with the “flipper,” and eventually falls into foreclosure.
Red Flags: Some key things to look for are rapid refinancing of a property; the seller recently having acquired the title or acquiring the title concurrent with the transaction; an appraisal that comes in too high; a property that was recently in foreclosure being purchased at a much lower price than its sales price; or the owner listed on the appraisal and title not matching the seller on the sales contract, according to Fannie Mae.
5. Short Sales Schemes
The Scam: Borrowers owe more than the current value of their home so they fake financial hardship and no longer make their mortgage payments. An accomplice of the borrower then submits a low offer to purchase the property in a short sale agreement. The lender agrees to the short sale, unaware that it was premeditated. The property, after being purchased at the reduced price, is then often resold at the home’s actual value for profit.
Red Flags: The borrower suddenly defaults on the mortgage with no workout discussions with the lender, an immediate offer is made to a lender at a short sale price, the short sale offer is less than current market value, or a cash back is offered at closing to the delinquent borrower (disguised as “repairs” or other payouts, for example) and is not disclosed to the lender, according to Fannie Mae.
You can report instances of suspected mortgage fraud to Stopfraud.gov.
Alasgar Farhadov(Ali)
REALTOR, ABR, MBA
MULTI MILLION DOLLAR CLUB-2010
C-703-989-3344
E: ali@solutionsrg.com
FB: facebook.com/alasgar
Skype: alasgarf
myalisel.com
WWW.SOLUTIONSRG.COM
The finest compliment I can receive is a referral from friends and clients!
Mortgage fraud is pervasive: An estimated $4 billion to $6 billion in annual losses result from mortgage fraud, according to FBI reports. “An entire community can be damaged by mortgage fraud,” says Rachel Dollar, a lawyer from Santa Rosa, Calif., and editor of the Mortgage Fraud Blog. Mortgage fraud can lead to a spike in foreclosures, home values plummeting, and lenders raising their rates and fees to recover losses.
The crimes are often complex, involving several parties and occurring over multiple transactions. To protect you and your clients, educate yourself about mortgage fraud and be on guard for any warning signs in a transaction. You can start by reviewing these five scams, and then test your knowledge by taking our Mortgage Fraud Quiz.
1. The Foreclosure Rescue Scheme
The Scam: “Rescuers” promise cash-strapped home owners that they can save their home from foreclosure. The rescue, which involves paying upfront fees, can take multiple forms, such as the perpetrator obtaining a new loan on behalf of the owner or by having the owner sign over the home’s deed and then rent the home until they can repurchase it. Eventually, the home owner loses the home, either to foreclosure or the fictitious rescue company.
Red Flags: With foreclosure rescue programs, borrowers are often advised to sign over the title of their house to a third party, become renters of their home, not contact their lender, or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud.
2. Loan Documentation Fraud
The Scam: This fraud involves numerous schemes in which a borrower provides inaccurate financial information — such as about their income, assets, and liabilities — or employment status in order to qualify for a loan with lower rates and more favorable terms. Occupancy fraud is one growing area: Borrowers say they plan to live in the property when they actually intend to rent it.
Red Flags: Documentation may raise suspicion if the employer’s address is shown as a post office box, accumulation of assets compared to the person’s income appears too high or low, the new house is too small to accommodate occupants, the person has no credit history, or the application is unsigned or undated, according to Fannie Mae.
3. Appraisal Fraud
The Scam: A faulty appraisal — saying a property is worth more than what it really is — is connected to many types of mortgage fraud. It entails manipulating or overstating comparables, market values, or property characteristics in order to obtain a higher appraisal. The higher property appraisal, which generates false equity, is done by falsifying an appraisal document or using an appraiser accomplice to obtain the higher value.
Red Flags: Be skeptical of appraisals that are dated prior to the sales contract, list comparable sales that do not contain similarities to the property or are outside the neighborhood, the owner is not the seller listed on the contract or the title, or a third party participating in the transaction orders the appraisal, Freddie Mac warns.
4. Illegal Property Flipping
The Scam: This entails purchasing properties and reselling them at inflated prices. These scams usually involve faulty appraisals and inaccurate loan documents. The property is then refinanced or resold immediately after purchase for an inflated value. The home is purchased at a higher price, often by straw buyers working with the “flipper,” and eventually falls into foreclosure.
Red Flags: Some key things to look for are rapid refinancing of a property; the seller recently having acquired the title or acquiring the title concurrent with the transaction; an appraisal that comes in too high; a property that was recently in foreclosure being purchased at a much lower price than its sales price; or the owner listed on the appraisal and title not matching the seller on the sales contract, according to Fannie Mae.
5. Short Sales Schemes
The Scam: Borrowers owe more than the current value of their home so they fake financial hardship and no longer make their mortgage payments. An accomplice of the borrower then submits a low offer to purchase the property in a short sale agreement. The lender agrees to the short sale, unaware that it was premeditated. The property, after being purchased at the reduced price, is then often resold at the home’s actual value for profit.
Red Flags: The borrower suddenly defaults on the mortgage with no workout discussions with the lender, an immediate offer is made to a lender at a short sale price, the short sale offer is less than current market value, or a cash back is offered at closing to the delinquent borrower (disguised as “repairs” or other payouts, for example) and is not disclosed to the lender, according to Fannie Mae.
You can report instances of suspected mortgage fraud to Stopfraud.gov.
Alasgar Farhadov(Ali)
REALTOR, ABR, MBA
MULTI MILLION DOLLAR CLUB-2010
C-703-989-3344
E: ali@solutionsrg.com
FB: facebook.com/alasgar
Skype: alasgarf
myalisel.com
WWW.SOLUTIONSRG.COM
The finest compliment I can receive is a referral from friends and clients!
MORTGAGE FRAUD REACHES RECORD HIGH
Mortgage Fraud Reaches Record High
Scammers are taking advantage of the real estate market, changing their schemes to take advantage of a distressed real estate market. Reports of mortgage fraud in 2010 reached the highest level on record, the Treasury Department reports.
Suspected mortgage fraud activity increased nearly 5 percent to 70,472 “suspicious activity reports,” according to the Financial Crimes Enforcement Network. That’s up from 67,507 in 2009 (and a dramatic increase when compared to 37,000 mortgage fraud reports in 2006 during the housing boom). The agency estimates more than $1.5 billion in losses from mortgage fraud in 2010.
Mortgage fraud reports include everything from borrowers falsifying information on loan documents, fraudulent appraisals, to elaborate schemes that target home owners underwater on their mortgage.
Reports of suspected mortgage fraud have continued to rise since the housing boom.
However, while the number of reports of mortgage fraud continues to rise, the number of fraud cases have actually decreased, the LexisNexis Mortgage Asset Research Institute reports. Mortgage fraud cases dropped 41 percent between 2009 and 2010, the biggest drop since the institute began to track reports. The drop was attributed to a decrease in home loans from banks tightened lending standards.
"We've got lower originations, less loan volume, less attention being paid to in terms of what's happening to those loans, and tighter credit scrutiny," says Denise James, who co-authored the report.
Where Fraud Is the Most Prevalent
The states with the highest incidence of mortgage fraud are:
Florida (which also led the nation in 2009)
New York
California
New Jersey
Maryland
Michigan
Virginia
Ohio
Colorado
Illinois
Source: “Reports of Mortgage Fraud Reach Record Level,” The Wall Street Journal (May 10, 2011) and “Reported Cases of Mortgage Fraud Down, But Actual Fraud Still on Rise, Experts Say,” Associated Press (May 9, 2011)
Scammers are taking advantage of the real estate market, changing their schemes to take advantage of a distressed real estate market. Reports of mortgage fraud in 2010 reached the highest level on record, the Treasury Department reports.
Suspected mortgage fraud activity increased nearly 5 percent to 70,472 “suspicious activity reports,” according to the Financial Crimes Enforcement Network. That’s up from 67,507 in 2009 (and a dramatic increase when compared to 37,000 mortgage fraud reports in 2006 during the housing boom). The agency estimates more than $1.5 billion in losses from mortgage fraud in 2010.
Mortgage fraud reports include everything from borrowers falsifying information on loan documents, fraudulent appraisals, to elaborate schemes that target home owners underwater on their mortgage.
Reports of suspected mortgage fraud have continued to rise since the housing boom.
However, while the number of reports of mortgage fraud continues to rise, the number of fraud cases have actually decreased, the LexisNexis Mortgage Asset Research Institute reports. Mortgage fraud cases dropped 41 percent between 2009 and 2010, the biggest drop since the institute began to track reports. The drop was attributed to a decrease in home loans from banks tightened lending standards.
"We've got lower originations, less loan volume, less attention being paid to in terms of what's happening to those loans, and tighter credit scrutiny," says Denise James, who co-authored the report.
Where Fraud Is the Most Prevalent
The states with the highest incidence of mortgage fraud are:
Florida (which also led the nation in 2009)
New York
California
New Jersey
Maryland
Michigan
Virginia
Ohio
Colorado
Illinois
Source: “Reports of Mortgage Fraud Reach Record Level,” The Wall Street Journal (May 10, 2011) and “Reported Cases of Mortgage Fraud Down, But Actual Fraud Still on Rise, Experts Say,” Associated Press (May 9, 2011)
STASH YOUR TRASH
HOW DO YOU WANT ME TO SELL THIS?
COME ON NOW!!
You don’t have to be a pro appraiser to know that a yard drowning in junk is a sure way to devalue your property. It’s also an invitation for stray critters to move right in. Have mercy on your neighbors by renting a dumpster and removing trash. A 20-yard dumpster is about $400 to $500
8 TIPS THAT WILL INCREASE YOUR CURB APPEAL
Homes with high curb appeal command higher prices and take less time to sell. We’re not talking about replacing vinyl siding with redwood siding; we’re talking about maintenance and beautifying tasks you’d like to live with anyway.
The way your house looks from the street—attractively landscaped and well-maintained—can add thousands to its value and cut the time it takes to sell. But which projects pump up curb appeal most? Some spit and polish goes a long way, and so does a dose of color.
TIP#1 WASH YOUR HOUSE'S FACE :)
Before you scrape any paint or plant more azaleas, wash the dirt, mildew, and general grunge off the outside of your house. REALTORS® say washing a house can add $10,000 to $15,000 to the sale prices of some houses.
A bucket of soapy water and a long-handled, soft-bristled brush can remove the dust and dirt that have splashed onto your wood, vinyl, metal, stucco, brick, and fiber cement siding. Power washers (rental: $75 per day) can reveal the true color of your flagstone walkways.
Wash your windows inside and out, swipe cobwebs from eaves, and hose down downspouts. Don’t forget your garage door, which was once bright white. If you can’t spray off the dirt, scrub it off with a solution of 1/2 cup trisodium phosphate—TSP, available at grocery stores, hardware stores, and home improvement centers—dissolved in 1 gallon of water.
You and a friend can make your house sparkle in a few weekends. A professional cleaning crew will cost hundreds—depending on the size of the house and number of windows—but will finish in a couple of days.
FRESHEN THE EXTERIOR PAINT!
The most commonly offered curb appeal advice from real estate pros and appraisers is to give the exterior of your home a good paint job. Buyers will instantly notice it, and appraisers will value it. Of course, painting is an expensive and time-consuming facelift. To paint a 3,000-square-foot home, figure on spending $375 to $600 on paint; $1,500 to $3,000 on labor.
Your best bet is to match the paint you already have: Scrape off a little and ask your local paint store to match it. Resist the urge to make a statement with color. An appraiser will mark down the value of a house that’s painted a wildly different color from its competition.
Tip #3: REGARD THE ROOF!
The condition of your roof is one of the first things buyers notice and appraisers assess. Missing, curled, or faded shingles add nothing to the look or value of your house. If your neighbors have maintained or replaced their roofs, yours will look especially shabby.
You can pay for roof repairs now, or pay for them later in a lower appraisal; appraisers will mark down the value by the cost of the repair. According to Remodeling Magazine’s 2010-2011 Cost vs. Value Report, the average cost of a new asphalt shingle roof is about $21,500.
Some tired roofs look a lot better after you remove 25 years of dirt, moss, lichens, and algae. Don’t try cleaning your roof yourself: call a professional with the right tools and technique to clean it without damaging it. A 2,000 sq. ft. roof will take a day and $400 to $600 to clean professionally.
Tip #4: Neaten the yard
A well-manicured lawn, fresh mulch, and pruned shrubs boost the curb appeal of any home.
Replace overgrown bushes with leafy plants and colorful annuals. Surround bushes and trees with dark or reddish-brown bark mulch, which gives a rich feel to the yard. Put a crisp edge on garden beds, pull weeds and invasive vines, and plant a few geraniums in pots.
Green up your grass with lawn food and water. Cover bare spots with seeds and sod, get rid of crab grass, and mow regularly.
Tip #5: Add a color splash
Even a little color attracts and pleases the eye of would-be buyers.
Plant a tulip border in the fall that will bloom in the spring. Dig a flowerbed by the mailbox and plant some pansies. Place a brightly colored bench or Adirondack chair on the front porch.
Get a little daring, and paint the front door red or blue.
These colorful touches won’t add to the value of our house: appraisers don’t give you extra points for a blue bench. But beautiful colors enhance curb appeal and help your house to sell faster.
Tip #6: GLAM YOUR MAILBOX
An upscale mailbox, architectural house numbers, or address plaques can make your house stand out.
High-style die cast aluminum mailboxes range from $100 to $350. You can pick up a handsome, hand-painted mailbox for about $50. If you don’t buy new, at least give your old mailbox a facelift with paint and new house numbers.
These days, your local home improvement center or hardware stores has an impressive selection of decorative numbers. Architectural address plaques, which you tack to the house or plant in the yard, typically range from $80 to $200. Brass house numbers range from $3 to $11 each, depending on size and style.
Tip #7: FENCE YOURSELF IN
A picket fence with a garden gate to frame the yard is an asset. Not only does it add visual punch to your property, appraisers will give extra value to a fence in good condition, although it has more impact in a family-oriented neighborhood than an upscale retirement community.
Expect to pay $2,000 to $3,500 for a professionally installed gated picket fence 3 feet high and 100 feet long.
If you already have a fence, make sure it’s clean and in good condition. Replace broken gates and tighten loose latches.
Tip #8: MAINTENANCE IS A MUST
Nothing looks worse from the curb—and sets off subconscious alarms—like hanging gutters, missing bricks from the front steps, or peeling paint. Not only can these deferred maintenance items damage your home, but they can decrease the value of your house by 10%.
Here are some maintenance chores that will dramatically help the look of your house.
Refasten sagging gutters.
Repoint bricks that have lost their mortar.
Reseal cracked asphalt.
Straighten shutters.
Replace cracked windows.
***REMEMBER TO HIRE A GOOD REALTOR***
I AM ALWAYS HERE TO HELP!
Alasgar Farhadov(Ali)
REALTOR, ABR, MBA
MULTI MILLION DOLLAR CLUB-2010
C-703-989-3344
E: ali@solutionsrg.com
FB: facebook.com/alasgar
Skype: alasgarf
myalisel.com
The finest compliment I can receive is a referral from friends and clients!
Saturday, May 7, 2011
6 Worth-the Price FIX Ups
6 Worth-the-Price Fix-Ups
Simple and affordable do-it-yourself projects can greatly increase a home's resale value, according to HomeGain's annual home improvement and staging survey.
April 2011
The marketing company surveyed nearly 600 real estate professionals to discover which DIY home improvement projects give sellers the biggest return for their buck. Here are six projects under $1,000 (amounts are estimated) that made the list.
1. Cleaning and de-cluttering. Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean.
$290 Cost
$1,990 Return
2. Brightening. Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from the windows.
$375 Cost
$1,550 Return
3. Smart staging. Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background.
$550 Cost
$2,194 Return
4. Landscaping enhancements. Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured.
$540 Cost
$1,932 return
5. Repairing electrical or plumbing. Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures.
$535 Cost
$1,505 Return
6. Replacing or shampooing dirty carpets. Steam-clean carpets, replace any worn carpets, and repair any floor creaks.
$647 Cost
$1,739 Return
Simple and affordable do-it-yourself projects can greatly increase a home's resale value, according to HomeGain's annual home improvement and staging survey.
April 2011
The marketing company surveyed nearly 600 real estate professionals to discover which DIY home improvement projects give sellers the biggest return for their buck. Here are six projects under $1,000 (amounts are estimated) that made the list.
1. Cleaning and de-cluttering. Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean.
$290 Cost
$1,990 Return
2. Brightening. Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from the windows.
$375 Cost
$1,550 Return
3. Smart staging. Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background.
$550 Cost
$2,194 Return
4. Landscaping enhancements. Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured.
$540 Cost
$1,932 return
5. Repairing electrical or plumbing. Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures.
$535 Cost
$1,505 Return
6. Replacing or shampooing dirty carpets. Steam-clean carpets, replace any worn carpets, and repair any floor creaks.
$647 Cost
$1,739 Return
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