Home Prices up in 41 states

• FHFA (Federal Housing Finance Agency) price data shows that home prices across the United States rose 6.7 percent from the first quarter of 2012 to the first quarter of 2013. In 41 states and the District of Columbia prices were higher than the fourth quarter of 2012, and from one year ago the District and all states except Connecticut and West Virginia showed higher prices. In Connecticut and West Virginia, prices were weaker by less than one percent.
• Price gains were largest in the West. Nevada, Arizona, California, and Idaho each saw gains exceeding 15 percent from one year ago. The map above shows the breakout of annual gains for each state.
• Nationally, prices rose 1.9 percent from the fourth quarter. Note that this is seasonally adjusted, but not annualized, meaning that if prices continue to gain at this pace, it would imply an 8 percent gain for home prices nationally in the course of a year.
• FHFA uses a weighted repeat sales index that compares the prices of properties that involve a conforming conventional mortgage purchased or securitized by Fannie Mae or Freddie Mac. Thus, the FHFA index is based on a broad geographical sample of home transactions, though it misses out on transactions involving cash, jumbo or FHA/VA loans. In spite of this limitation, its price trend is usually similar to that of other price measures.

Going Paperless

We are going paperless!!

Lauralei Properties, llc is joining the new age in technology and getting rid of the mounds of paper bringing us down.

We are trying out the real estate transaction management from Cartavi.  The main reason I picked this company is because the were recently bought by DocuSign.

DocuSign is the official e-signature company of the National Association of Realtors and said it has 37 million users in 188 countries.

I tried online transaction management about 4 years ago - but having to print everything to sign and then upload the docs just made more work in the long run.  With the new document signatures being accepted online, the process is a breeze.  

Keeping energy costs down

It seems these days, everyone is looking for ways to save money on their energy bills.  You could always be a little less comfortable in your home, but that is not the best solution.  One of the most cost effective ways is with solar panels.

Solar panels have numerous benefits:

1. They save energy
2. They don't raise your real estate taxes
3. You might even be able to get a tax credit or rebate for your energy savings.
4. It is a renewable energy source that does not pollute the environment

Consider solar energy:  it can be used to heat water, dry clothes, heat swimming pools, power attic fans, power small appliances, produce light for both indoors and outdoors, and even to power cars, among other things.

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.