Good news from ABC’s Good Morning America. If you are still thinking about buying the time is right!

Great article from Yahoo! Real estate today. There are some really good tips here on how you can possibly lower your mortgage rate.

Curb appeal can make all the difference for potential buyers. Check out this Yahoo! article on how you can improve your yard for very little cash.

Great article from Yahoo! Finance

So far 2012 has shown several positive signs that the real estate market is finally on the upswing.

• Increased activity in our local market
• Modest price gains
• Open houses are attracting crowds, and more listings are slowly coming on the market.
• More buyers are being pre-approved
• Multiple offer situations are still common
• Consumer confidence will likely keep rates low through the elections and into 2013

Gift or Inherit – 6/11/2012

Transferring the title of a home from one person to another may seem simple but it could have a significant tax implication.

When a person inherits property, the basis is “stepped-up” to fair market value at the time of the decedent’s death. On the other hand, a gift has a carry-over basis which means that the recipient receives the unrealized gain also.

As an example, let’s say an elderly parent, in an attempt to get their affairs in order, gives their home to their adult child. The rationale might be that they are the sole beneficiary and will get the property eventually. In an effort to settle things early, unnecessary income tax may be incurred.

If the home was purchased for $20,000 and worth $100,000 at the time of transfer, there is a possible gain of $80,000. However, if the adult child inherited the property at the time of the parent’s death, their new basis would be $100,000 or the fair market value at the time of death and the possible gain would be zero.

This is meant to be an example and many other variables could be involved. If you’re concerned about a situation, you should seek specific advice from a tax professional. As always, I’m here to help you as your real estate professional.

Have you ever wondered how house flippers are able to turn a profit? It’s easier than you may think. In this Yahoo! article you can learn some of the secrets of house flippers and apply them to your own house sale. There are some great tips in here to ensure you get the most bang for your buck.

When buying a home you may hear the word Escrow tossed around. But what is Escrow??

Here is a great article from Yahoo! that explains what Escrow is and why you need it.

The Tacoma News Tribune mentioned us on their blog. Check it out!

Are you a first time home buyer? Here is a great article from www.smartmoney.com on some common mistakes to avoid when looking for your first home.

Read Here