Norweigen

Guest post of the week by Nestor Nielsen


My mom and I were watching direct TV this morning and we saw a special about the Rockerfeller Center Christmas tree. It is one of the most looked at Christmas trees in the world. 


Every year they have to locate a tree that is well over ninety feet tall. This year, they found the tree in West Virginia. One of the people who worked in Rockerfeller and was in charge of decorating for Christmas spotted a really beautiful Norweigen Fir tree. The widow who owned the tree said that she was delighted when someone stopped by her home one day and left a card with her about their interest in the tree. She said that when she and her husband moved to the home forty years ago that her husband wanted to cut down the tree because he thought that it was ugly. They decided that they would just have it shaped instead and it grew huge.


 It really is a beautiful tree. The widow was really excited and said that she is making her first trip to New York City for the lighting of the tree. She loved that she got featured on the Today Show, she said that she never expected to!

Get to know Santa Fe

Welcome to Knowing Santa Fe — a completely unique proprietary online experience for those looking to buy or sell real estate in Santa Fe, New Mexico. 

What makes knowingsantafe.com so unique? It's been crafted to suit the needs of both buyers and sellerswith our proprietary Santa FeProperty Explorer, delivering the most detailed information possible about our Santa Fe real estate listings;   land, farms, ranch properties and Santa Fe homes for sale. Not only do we showcase photos of every nook and cranny (literally), but you will “feel” the property — whether you are across the street in Santa Fe, elsewhere in New Mexico or half a world away. Virtual tours, detailed descriptions about finishes and special features, dimensions of rooms, plans and maps of the property, downloadable brochures, and other features are available. We provide you completely free access to the Santa Fe MLS (search here) listings in addition to our extensive internal listings of luxury homes and properties. Because its like no other real estate site you've ever visited, you'll know what to expect before you ever set foot on the property. We guarantee it.

But what makes our practice truly special? Our 30+ years of experience understanding the nuances of the Santa Fe real estate market and helping our clients find the Santa Fe homes, farms, land and ranch properties they are looking for. It's not always easy to navigate the Santa Fe real estate scene. Santa Fe is a unique locale. (Click here for Area Information.) So, if you've lived here for awhile, or are just visiting Santa Fe for the first time, we can be of assistance. As an added bonus, check out the seasonal insider's experience to Santa Fe, NM, as only we can share, 3 Days in Santa Fe, New Mexico — an insider's experience created to introduce you to the Santa Fe we know.

Visit us at http://www.knowingsantafe.com

5 top tips for increasing the value of your home

5 top tips for increasing the value of your home

 by Matthew Read

If you are a homeowner you are probably aware that over the last few years house prices have fallen quite drastically. In fact Zillow.com report that from 2006-2011 the average house price in the US has fallen by around $65k, from $240 down to $175.

Although the fall in house prices is largely out of the individuals control, due to the recession and problems with the banks, there are still many ways in which you can increase or at least retain your properties value. Check out these tips for increasing the value of your home:

1.       Aesthetic Appeal – When it comes to selling a house first impressions count for a lot. If you arrive at a house with a manicured lawn, well kept flowers and a freshly painted exterior it is much more appealing than one that looks dated, run-down and un-cared for. The better your house looks the more offers you are likely to get, allowing you to push the price up and ask for more. External improvements don’t need to cost a lot or be time consuming but could make a big difference.

2.       Eco Friendly – Green is definitely the new black! People are becoming more and more aware of their emission levels, utility bills and overall energy usage. People are looking to not only reduce their emissions but also their energy bills to save money. If you equip your home with extra insulation, solar panels, energy saving lighting and low-flush toilets etc, your home will be more eco-friendly, more cost efficient and more appealing to buyers, increasing its potential market value.

3.       Renovations – This can be much more simple that knocking down walls or building extensions. By revamping the kitchen with new work surfaces and cupboards or the bathroom with new tiles or fixtures you can add a lot of value to your home. If it looks fresh, new and modern it will be more appealing and attract a higher value.

4.       Brighten it up – A light, bright and airy home is an inviting one and much more appealing than a dark and confined one. Now you don’t need to go knocking through walls to add more windows, you can make a home lighter with a splash of paint, additional lighting and more airy curtains. Some lace curtains, a new coat of white paint and a couple extra lamps could make your home much brighter and more appealing, attracting a higher value.

5.       Add a Garage – Apart from adding an extension this is probably the most expensive option, however the initial outlay could be very much rewarded. Houses with a garage on the whole attract a higher value than houses without as it gives the buyers more space and more security for their car. However, before building a garage it is important to check building regulations and how it will impact on your home insurance costs.

 So there you have it, follow these tips and you could retain or even increase the value of your property. 

  

The Tax Benefits of Home Ownership

Buying a home provides some benefits.
1) Home mortgage interest deduction.  The interest paid on a mortgage or mortgages of up to $1 million for a principal residence and/or second home is deductible as an itemized deduction.  This deduction can reduce the cost of borrowing by one-third or more.

2) Home equity loan deduction: Homeowners can borrow up to $100,000 against the equity in their home and deduct the interest as an itemized deduction. The money can be used for any purpose.

3) Property tax deduction:  Homeowners also get to deduct from their federal income taxes the state and local property taxes they pay on their home. This is another itemized deduction that renters don't get.

4) Deductible homebuying expenses: Some closing costs  in a home purchase are also deductible as itemized deductions, including loan origination fees called points, prorated interest on a new loan, and prorated property taxes paid at settlement.

5)  home-sale exclusion:  Profit when you sell - you must have lived in your home for two of the prior five years prior to its sale - you need pay no income tax on a substantial amount of their profit -- $250,000 for single homeowners and $500,000 for married homeowners who file jointly. Can be used once every 24 months.

6) Free rental income:  You can rent your home out for up to 14 days during the year and pay no tax at all on the rental income.
7) Business use of your home:  If you have a home business and have a home office you may qualify for a deduction.

Tax benefits of renting:

The only tax benefit that a renter can qualify for is the home office deduction. This is a business deduction available to renters who own a business and have a home office they use regularly and exclusively for business purposes.

A good rent vs. buy tool can be found on the Smart Money Magazine website: click here

Be sure to consult your tax professional.

Visit Santa Cruz and be sure to Check out the Great Real Estate Available

Santa Cruz is a lovely beach community in California with a charming small town feeling. Now is the perfect time to think about Santa Cruz Real Estate if you have always wanted to live by the ocean. While some people consider this area for a vacation home, many people consider Santa Cruz their full time home.

The climate in Santa Cruz is mild and provides ample time for you to romp on the beach and play in the sun. Some of the activities available are kayaking, surfing, swimming, hiking and biking. You can visit the mile long sandy beach on the Santa Cruz Boardwalk resembling Coney Island.  The area also boasts majestic redwood forests and 14 state parks.  Visit some of the  admission-free museums such as the Santa Cruz Surfing Museum, Agricultural History Project, San Lorenzo Valley Historical Museum, Capitol, and the Aptos History Museum. Santa Cruz is known for fresh cuisine and fine wines.
Museum


Homes in the Santa Cruz area range from several hundred thousand to well into the millions. It seems that there is a suitable home for most any pocketbook. Visit Santa Cruz soon and be sure to check out all the great homes available in the area.

Baby Boomer Set To Affect Home Markets

American housing in the next decade is expected to be shaped by the changing values of adults ages 46 to 64, a study by the Urban Land Institute indicates.

The people in this demographic are healthier than the previous generation of home buyers and expect to work, at least part-time, past the typical retirement age. This indicates a more active lifestyle that supports another of the study’s findings: the members of this age group are more likely to purchase homes in pedestrian-friendly, mixed-use communities in urban and suburban settings.

While the previous generation’s senior years were marked by a migration south, this group exhibits less of a desire to move to the Sun Belt, instead opting to move closer to their children and grandchildren. This move will be dramatic in numbers. A study by the National Association of Home Builders indicates that more than 1.2 million mature adults expect to move this coming year.

What These Homebuyers Are Looking For

Key consumer surveys from the American Institute of Architects (AIA) and the National Association of Home Builders (NAHB) give insight into what these buyers want in a home. You can expect this group to make buying decisions based on both the design and the layout. These surveys suggest that these buyers are interested in a smaller footprint, in part because they are more affordable to maintain over time. Open and efficient layouts, with a first-floor master bedroom or the space for one to be added, are key interest points. Rather than anticipating a move to assisted living, members of this group are planning on aging in place and want to make sure that their homes can adapt to changes that will make it easier for them to live in and move around their living space. In addition, members of this group want to be able to indulge their tastes for quality details, upgraded features and a higher degree of personalization.

While buyers in this demographic will most likely want to see home space that will permit customization for their specific needs, they will also expect space that allows them to maximize the value of the home’s square footage. They will view a space in multiple ways. For instance, one buyer may view a typical dining room as a potential home office space, while another buyer may see it as a sleepover place for the grandchildren which easily converts to a TV room between visits. Adding doors to these types of rooms would make the property more attractive to a wider range of buyers.

These buyers are tech savvy and regularly use computers to work and communicate, so they will be most interested in homes that feature designated tech space. They will not necessarily want a large home office space, but will look for a nook fitted out with a desktop, chair and computer hookups. Sellers targeting this demographic who incorporate such space in an alcove under the stairs or an arched opening in a wider hallway meet the need.

 

From the desk of:
Wyatt Ragar
Your Bank of America Mortgage Loan Officer

 

Real Estate Tax Ban

Missouri voters have approved a constitutional amendment that bans a real estate tax.

The measure approved Tuesday prohibits the real estate transfer tax that is levied when homes, land and other property is sold. The transfer tax is charged like sales taxes based on the price of the property.

Missouri currently does not levy the tax, but other states do.

Critics of the transfer tax contend people already pay property tax on their homes and land. The state ballot measure was backed by the Missouri Association of Realtors.

Amendment 3 alters the state Constitution “to prevent the state, counties, and other political subdivisions from imposing any new tax, including a sales tax, on the sale or transfer of homes or any other real estate.”

The amendment, backed by the real estate industry, made it to the ballot by a statewide petition. Backers of the amendment say 37 states have such a tax, which, on top of regular property taxes, they argue amounts to double taxation.

“And we want to make sure Missouri properties remain affordable,” Elizebeth Mendenhall, president of the Missouri Association of Realtors, said before the election.