SECRETS OF THE GARDEN!

It's easy to understand how landscaping can enhance your home's appearance, livability, and resale value. There are many affordable improvements that will boost your curb appeal, but you can begin by investing in just a little elbow grease to trim bushes and prune dead tree limbs.

One simple project that will significantly impact your property's perceived value is planting trees. Proper installation of just three trees can cut energy bills an average of $100 to $250 annually!

Then there's the question of color, and plants like junipers and boxwood provide interest all year long. When planting flowers, you’ll find that red and white colors provide the biggest impact.

Water goes hand in hand with planting and landscaping, and everyone (including the birds) loves the soothing sound of a cascading pond waterfall or fountain. Also consider ways to conserve water in the garden, like xeriscaping with drought-resistant plants.

You certainly don't have to go "whole hog," and you can cut your costs by working in stages. Of course, you can learn more about the most beneficial landscaping by visiting a botanical garden, participating in a local "garden walk," or getting advice from your neighbors.

The most important thing to keep in mind is to have fun. And who knows? Developing your green thumb now may just produce a little more "green" when you sell your home!

DOUBLE YOUR PLEASURE!

How would you feel if you owned two homes, with two sets of monthly mortgage payments, two sets of taxes and insurance, and the responsibility for the maintenance on both?

When you're ready to buy your next home, it could happen. Let's take a look at why. More often than not, buyers begin looking at prospective new homes before they have sold their existing home. When they find a home that suits their needs, a potentially painful dilemma may arise. How do they make a commitment to purchase the second home when they have not yet sold the first one?

One common solution is to sign an agreement to purchase the second home that is made contingent upon the sale of their existing home. In other words, if the first home doesn't sell, the buyers have no obligation to complete the purchase of the second one.

You can make the most of this situation by remembering one very important concept: work exclusively with the same real estate professional on both homes.

Here's why. When you decide on which new home you plan to buy, your agent will help structure the purchase, taking into account your existing home. By letting the same agent market your present home, both purchase and sale can be coordinated to your benefit, resulting in deep satisfaction rather than a deep dilemma.

KEEP YOUR PROFITS!

Real estate has proven again and again to be an excellent investment, encouraged by the fact that capital gains on its sale can often be avoided completely. While traditional investment vehicles like stocks impose a 15% tax on long-term gains, you can exempt $250,000 (or for joint filers $500,000) of your home sale profit from taxation.

There are only two simple qualifications: you must have owned the home for at least two years, and it must have been your principal residence for at least two of the five years prior to its sale. Those two years don't even have to be consecutive!

If you own two residential properties, then you have to do some figuring to determine which would qualify for the exemption. There are even some circumstances where you don't have to meet the qualifications, such as hardships like change in employment, health problems, or military service.

What's really attractive about this tax break is that you can take it over and over again, as long as you meet the two basic eligibility requirements. In theory, you could sell your principal residence every two years and walk away tax-free each time!

The capital gains exemption could provide motivation for selling your home before you reach the maximum allowable deduction, but be sure to seek the advice of your financial advisor before making your decision.

MULTIPLE CHOICE!

Once you decide to list your home for sale, how long will it take to sell? How long should you give the agent to successfully market your home?

The best answer is to be reasonable. But what’s reasonable? 30 days? What about 300 days? Of course, there is no standard response.

Let's look at how to determine the right amount of time in your situation. With each real estate market being different, it takes longer to sell a home in some areas than others. A home that may sell in 15 days in one city may take 87 days in another, or even six to nine months in yet another.

Actually, the time needed to attract a buyer can be made longer or shorter by offering a higher or lower price, and better or less desirable terms and amenities.

Ask your agent to provide information relative to current selling times in your neighborhood. Discuss the factors that may help or hinder the sale of your home, and ask for your agent's best estimate of selling time for your home.

Then, allow the appropriate amount of time to properly market your home. By giving a reasonable length of time in which to perform, you will have the complete determination of your agent, and will no doubt be pleased with the results - the ultimate sale of your home.