Alamo Real Estate Sales Incline on the Higher End Market By Douglas Buenz

Alamo Real Estate sales reports have revealed an interestingly good amount of sales for high-end homes but lesser sales for the lower-cost ones. Pending sales of single family detached homes priced over $2 million have been constantly high in the past few months, while those of homes that cost below $2 million have experienced a sharp decline. This drop was accounted to have fallen for three consecutive months after peaking at 24 in June. Inventory, on the other hand was at its highest level this year in July with 108. Its levels stayed generally unchanged from July through September but dropped in the high-end or the homes priced over $2 million.

In general, September pending sales were down by 35% with 13 from 20 in July and 19 in August, which is a 32% decline. There were 95 homes available on the market towards the end of September, an amount a little lower that what months August and July had - 97. Inventory relative to pending sales rose from 4.9 months in July to 5.1 months in August and 7.3 months in September.

For the lower-end market, that is, for the homes priced under $2 million, there was an increase in inventory but a decline in sales in pending. For this market segment, 80 homes were on the market at the end of September, increasing 4% from 77 at the end of August and 5% from 76 at the end of July. In terms of sales in pending, there were a total of nine for this price range at the end of September, decreasing % from 16 during both July and August. Also, a sharp increase of inventory relative to pending sales was noted. The rise was from 4.8 months in both July and August to 8.9 months in September.

For the higher end market, that is, market for homes priced over $2 million, sales in pending have been constant over the past three months with four in September, three in August and four in July. The four in July was Alamo's greatest number since the year 2007, and that's why it is interesting that numbers remained that high. And as it is expected with high sales turn out, inventory decreased resulting to a declining trend starting from 21 at the end of July to 20 at the end of August and 15 at the end of September. September's inventory was 29% lower than July's. Moreover, inventory relative to pending sales in this market segment remained at 3.8 months in September, down from 6.7 months in August and 5.3 months in July.

The trend of pending sales would go separate ways and is usually dependent on whether a home is priced over or under $2 million, with sales declining in the lower end and remaining high in the upper end. It is indeed a varying trend which is dependent of mostly the market activity.

Doug Buenz is a top producing Alamo Realtor with Alain Pinel Realtors. With over 20 years experience in Alamo real estate, Doug has built a solid reputation as a market leader. His web site http://www.680homes.com is a popular site for searching for Alamo homes for sale, as well as extensive information on the community, Alamo Schools, and the East Bay lifestyle. His personal blog The 680 Blog is a widely read source on Alamo market trends, real estate tips and advice, market insights, lifestyle information, and commentary.

Tax Tips for Selling Your Home By Carol P Zeitz

Selling a home can be a complicated process but if sell at a gain, it can feel great! However, there are IRS laws related to the sale of your home, especially if you have a gain. You need to know these rules as you go through the process, so that you have no surprises later. You might be eligible to exclude all or part of that gain from your income, but there are restrictions. Here are some tips from the IRS. Keep these things in mind when you begin the process of selling your home.

1. If you have owned and used your home as your primary residence for two out of the past five years prior to the sale, you are eligible to exclude the gain from your taxable income. If you have more than one home, your primary residence is the one you live in most of the time. You will have to pay tax on any gains from selling a second or vacation home.

2. You might be able to exclude up to $250,000 of the gain, or $500,000 if you file jointly with a spouse. Worksheets are included in IRS Publication 523, Selling Your Home, to help you figure out the gain and how much you can exclude from income.

3. If you already excluded the gain from another home during the preceding two years, you can't do it again.

4. If you are eligible to exclude all of the gain, you don't have to report it on your tax return.

5. If your gain cannot be excluded, report it on Schedule D, Capital Gains and Losses, with your Form 1040.

6. Unfortunately, you cannot deduct a loss!

7. When you move, don't forget to update your address with the U.S Postal Service and the IRS to ensure you receive refunds or correspondence. You can use Form 8822, Change of Address, with the IRS.

8. And an extra note: if you received the first-time homebuyer credit and within 36 months, you no longer use the home as your primary residence, you are required to repay the credit. You will need to use Form 5405, First-Time Homebuyer Credit and Repayment of the Credit, with that year's return. The full amount of the credit will show up as additional tax on your return.

For more information about selling your home, see IRS Publication 523, Selling Your Home.

Carol Zeitz is a Real Estate Broker in Houston, TX. She owns and manages an independent brokerage in Fort Bend County and helps buyers and sellers with real estate transactions throughout the Houston metro area. If you are interested in Houston real estate, you can get a free Market Snapshot Report for your own home, or for a neighborhood of interest, anywhere in the Houston metro area.

Deeds From The Dead Often Leave Heirs In Need Of A Buyer By Dr. Tom Rhudy

I guess the first question we must answer is, "What is probate?"

Probate is simply a legal process that occurs after an individual dies. This process customarily includes the following:

- Proving in court that a deceased person's will is valid. This is customarily simply a matter of routine.

- It is necessary to identify and inventory the deceased person's property.

- It will also be necessary to have the property appraised.

- It will also be necessary to make a determination as to what debts continue to be owed on the property (e.g., taxes).

- It would then be necessary to distribute the remaining property in accordance with the provisions identified in the will. If no will is available, the assets are to be distributed in accordance at the state's direction.

It is true that most states allow a portion of an estate to pass without going to the process of probate. If that is a case, the property will simply pass through to the heirs identified in the will. (This presupposes that a will is extant.) Any remaining assets would be subject to the probate process.

So what do we do with the "deeds from the dead" if we are an heir to this estate? Well, if you want the property, then you don't have to do anything but assume ownership of that property. However, if you are just one of many heirs, you may be frustrated as to how the estate may be distributed. If that is the case, you may find it necessary to find an individual who is willing to buy the property from you at a reasonable price to enable you to have those proceeds distributed to the heirs to this particular property.

Fortunately, there are many investors who are willing to assist individuals who find themselves in the situation. Therefore, if you have one of these deeds and are in need of selling that house very quickly, you may be able to do so in a very quick and efficient manner. However, it's important for you to keep in mind that the individual will be looking for a win-win situation between both you and that investor. It is unlikely that the investor will be intent on keeping the property for himself/herself. It is very likely that the investor will attempt to sell it to another buyer with whom he is able to negotiate such a transaction.

As is often true, to consummate a very quick and efficient transaction, it may be necessary to sell that house at a price lower than the current market value. If you didn't do so, it would be unlikely that you could entice an investor to make such a quick purchase of the real estate.

Keep in mind, if you're one of these individuals who does receive a "deed from the dead," you may not be stuck with the horror of property ownership. Yes, if you're reasonable, you're very likely to find an investor who is willing to assist you in being able to avoid having to take possession of the property and also putting money in the pockets of those heirs.

Learn more about how quickly we can buy your house. Stop by our site where you can find out all about the benefits of letting us help you obtain mortgage relief and what that can do for you

Legal Papers Required When Selling A House By Shaun Greer

In order to successfully sell a house in the United States, one requires a number of legal documents. Although each of these legal documents serves a specific purpose, such as providing information regarding the house or the mortgage, the documents are generally meant to protect the buyer, the seller and the real estate agent.

Listing Agreement

Before the sale of a house can even begin, the seller and the real estate broker must enter into a binding agreement that authorizes the broker to sell the house on behalf of the seller. This means that one can't just walk into a real estate broker's office and say, " sell my house." They have to sign a listing agreement to that effect.

Purchase and Sales Agreement

Whenever a buyer wants to make an offer on a house, they must do so using a purchase and sales agreement. This agreement is without a doubt the important document in the sale of a house as it outlines the conditions for the sale and purchase of the home. The two parties involved in a purchase and sales agreement are the buyer and the seller.

In addition to the above agreement, there are other forms that are used to disclose information concerning the home that is on sale. For instance, if I wanted to sell my house which was built before 1978, the purchase and sales agreement would have to be accompanied by a lead paint and hazards disclosure. However, even if the home had been built after 1978, I would still required to inform the buyer of their rights and to allow the buyer to perform a lead based paint inspection of the home.

Title Documents

Documents such as property descriptions, information regarding the property's actual size and boundaries, tax map numbers of the section, block and lot where the property is located and restrictions and easements that are applicable to the buyers are all referred to as title documents. In addition, if the seller has sold any part of the original property, they should furnish the buyer with the details. The seller is also required to provide copies of the title insurance policy.

In order to be considered valid, the above named legal documents must be filled out correctly preferably with the help of legal professionals such as real estate attorneys, agents or paralegals. The professional helps the seller and the buyer to understand the technical requirements and regulations associated with the legal documents thereby enabling them to avoid pitfalls within the home selling process.

To sell your house fast I would suggest contacting a We Buy Houses company like ExpertHomeOffers.com. They will connect you with a local home buyer your your area at no cost!

Selecting The Best Realtor To Sell Your Home By Don Dowd

Real estate agents are a dime a dozen, and in a buyer's market like we have today, you need to do your due diligence to find one that will get you the results you're seeking. Though you can never know for sure if you are working with the right realtor, there are some questions you can ask to find out if the real estate agent you are talking to is likely to be worth your time. Here are 6 of them:

1. Are you a member of the National Association of Realtors?

Though being a member of this association does not necessarily guarantee you are working with a top real estate agent, not being a member is certainly one strike against them. Make sure the person you are considering has taken the basic step of becoming a member of the nation's largest real estate trade association.

2. How familiar are you with my local community?

Though a realtor can generally operate anywhere in their state, it is far better to seek the services of one that is based close enough to your neighborhood that he/she has extensive knowledge of your local market. If they are familiar with local trends, they will be better equipped to price your home appropriately.

How available are you?

This is one of the more important factors you need to consider when working with a realtor. Is it easy or difficult to get a hold of them? While it's understandable that real estate agents are sometimes unreachable while showing a house or in a closing, it's important that the agent you consider is considerate enough to be available to you as often as possible.

4. Are you well connected?

By this I mean does the realtor have a team of top professionals in other related industries that they can name off the top of their head as partners that they work closely with? These would include mortgage brokers, appraisers, home inspectors, stagers, and even real estate magazines.

5. What kind of marketing methods do you employ?

If you want to know how effective a realtor is, you can often tell by how much time and effort they spend marketing each home. In a buyer's real estate market with so much available inventory out there, sellers need to do everything they can to get as many potential buyers as possible going through their home. There is no shortcut to getting eyeballs on your home. It takes marketing-pounding the pavement. For this reason, it's important to work with a full time realtor that has several different marketing techniques at their disposal.

6. Are you a good negotiator?

When it comes time to negotiate the sale, you want to have a realtor on your side that will skillfully represent your interests. If not, you may not get the best possible price for your home. Ask the real estate agent you are considering what kind of commission split they have between them and their company. For most, the answer will be 50/50. This is the sign of an average realtor. But a select few will answer 70% or more for themselves. If they were able to negotiate a good deal for themselves, then it is far more likely they have the skills to negotiate a good deal for you too.