Alicia Reinhard

TIPS FOR BUYING IN A TIGHT MARKET Increase your chances of getting your dream house in a competitive housing market, and lower your chances of losing out to another buyer. GET PREQUALIFIED FOR A MORTGAGE You’ll be able to make a firm commitment to buy and your offer will be more desirable to the seller. STAY IN CLOSE CONTACT WITH YOUR REAL ESTATE AGENT TO FIND OUT ABOUT THE NEWEST LISTINGS Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go fast. SCOUT OUT NEW LISTINGS YOURSELF Look at websites such as CONNECTIDAHO.com, REALTOR. com, browse your local newspaper’s real estate section, and drive through the neighborhood to spot For Sale signs. If you see a home you like, write down the address and the name of the listing agent. Your Connect Idaho REALTOR will schedule a showing. BE READY TO MAKE A DECISION Spend a lot of time in advance deciding what you must have in a home so you won’t be unsure when you have the chance to make an offer. BID COMPETITIVELY You may not want to start out offering the absolute highest price you can afford, but don’t go too low to get a deal. In a tight market, you’ll lose out. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. Give your Connect Idaho REALTOR a call for lender referrals on getting a bridge loan to cover both mortgages for a short period. DON’T GET CAUGHT IN A BUYING FRENZY Just because there’s competition doesn’t mean you should just buy it. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.

When should you consider a 1031 Exchange? Great question! When the proceeds from the sale of real property or personal property are used to purchase other like-kind property, you should consider a Tax-Deferred Exchange. The IRS recognizes the use of an Accommodator or Qualified Intermediary as a safe harbor for your transaction. The sale and purchase of property held for use in a trade or business or for investment purposes can be done as a delayed exchange, reverse exchange or a simultaneous exchange. All three qualify for tax-deferred treatment. There are important guidelines and tricky pitfalls you need to be aware of if you want total tax-deferment. We recommend Pioneer 1031 Company; they can help you set up a 1031 Tax-Deferred Exchange as well as explain the steps for your particular exchange. Although they cannot give specific tax advice, they do give consultations free of charge. ________________________________________ KEEP YOUR HOME LOOKING ITS BEST While it may not always be the most exciting use of your time, keeping up with the maintenance of your home will always pay dividends, especially when you decide to sell – we can help with that too! Most routine maintenance requires little more than your time and willingness to do it. Rest assured, if you lack the desire to spend your weekends, or some of them anyway, doing upkeep around your house there are plenty of qualified professionals in the Treasure Valley who are happy to provide their services for a reasonable fee. Although this list is not intended to be comprehensive it constitutes what I have found to be necessary throughout the course of a year to keep my home functioning well and looking its best. Make those windows sparkle! Clean windows are noticeable by all and really set your home apart. A basic window washing kit can be purchased at almost any hardware store. Keep your lawn lush and green all season long. I recommend Zamzows lawn care program. It’s practical and sensibly priced. You will receive an email when it’s time for an application, pick up the product and spreader, if needed, and apply to your yard. Keep your weeds at bay. Purchase a simple weed killer and apply routinely. If you start early in the season it’s far easier to stay ahead of the explosion of weeds that will undoubtedly occur. Done regularly, this should take no more than the amount of time required to walk around the yard. Use a shovel. Avoid giving your driveway, walkways or sidewalks the “pitted” appearance. This typically occurs by using salt to removeice and snow throughout the winter. You will avoid this damage by shoveling and receive the added benefit of a decent workout. You paid good money for your home so show it off by keeping your trees, shrubs and plants manicured. Not only will this improve the appearance of your yard and home, but it will keep things healthy so you avoid the hassle and expense of replacing a dying tree or shrub. A clean and organized garage is always noticeable and will make you the envy of most neighbors. Depending on the current status of your garage’s condition this could be a bigger undertaking for more of us than others, but once it’s done you’ll appreciate the appearance. Regularly sweeping it out and picking up thereafter makes it far easier to stay ahead of this task. I lump these last few recommendations together as they will likely require the services of a certified professional, but are worthwhile items to address throughout the year: –HVAC Service –Garage Door Service –Appliance Service Routine annual or bi-annual service of these items can save you thousands by avoiding undetected damage. I have experienced first-hand how costly these things can be if routine service is avoided or ignored. Another good option to protect yourself is to consider a home warranty plan. Call us anytime to discuss these items further, recommendations or referrals for trusted professionals, or to see what may be worth addressing if you’re considering selling your home soon.

Relocation, Buyers, Sellers + Investors