DEBBIE BURNESS REAL ESTATE GROUP
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What and Why Contingencies Matter
When a home goes under contract, many assume it’s a done deal, but in reality, most real estate contracts include contingencies, or conditions that must be met for the sale to proceed. These clauses are designed to protect both buyers and sellers and offer… Continue Reading “What and Why Contingencies Matter”
Smart Homeowner Tips
1. Take Advantage of Homeowner Tax Benefits Mortgage Interest Deduction: Deduct interest on up to $750,000 of acquisition debt (for loans after 2017). Property Tax Deduction: Deduct up to $10,000 in combined state and local taxes (SALT). Capital Gains Exclusion: Exclude up to $250,000… Continue Reading “Smart Homeowner Tips”
Are expiration dates necessary in offers?
In real estate negotiations, it’s not uncommon for both buyers or sellers to include expiration dates on offers and counteroffers. These deadlines serve several important purposes that help keep the process efficient, transparent, and fair to both sides. First and foremost, expiration dates create… Continue Reading “Are expiration dates necessary in offers?”
Understanding Normal Settling vs. Foundation Problems
Every home experiences some degree of movement over time, often called settling. It’s a natural part of the aging process for any structure, especially in areas with varying soil conditions, temperature swings, or after the first few years of construction. While minor signs of… Continue Reading “Understanding Normal Settling vs. Foundation Problems”
Capital Gains Exclusion for Surviving Spouses
Losing a spouse is a deeply emotional experience and the financial decisions that follow can feel overwhelming. One important area to understand during this time is how the IRS treats the sale of a primary residence after the death of a spouse. Under certain… Continue Reading “Capital Gains Exclusion for Surviving Spouses”
Temporary Buydowns: What Happens to Unused Funds If You Sell or Refinance Early?
A temporary buydown is a great tool to help ease into homeownership with lower initial monthly payments, especially helpful in a high-rate environment. It allows you to enjoy reduced payments in the first one to three years of the loan, offering financial flexibility as… Continue Reading “Temporary Buydowns: What Happens to Unused Funds If You Sell or Refinance Early?”
Home Insurance: Protect Your Investment
If you’re buying a home�or already own one�home insurance might not be the most exciting part of the process. But it is one of the most important. In many cases, home insurance is required to secure a mortgage, but even if it weren’t, having… Continue Reading “Home Insurance: Protect Your Investment”
Long Term Savings with a Shorter Term Mortgage
When financing a home, the 30-year fixed-rate mortgage is often the go-to option because of its lower monthly payment. But for buyers who can comfortably afford a higher payment, the 15-year mortgage deserves a closer look and may lead to significantly greater financial rewards… Continue Reading “Long Term Savings with a Shorter Term Mortgage”
Tips to Pay Down Your Mortgage Faster
One of the biggest benefits of homeownership is the ability to build equity�the portion of your home you truly own. Equity grows naturally over time in two ways: first, as you pay down your mortgage through regular payments (amortization), and second, as your home… Continue Reading “Tips to Pay Down Your Mortgage Faster”
Pay Me Now or Pay Me Later
There was a memorable Fram Oil Filter commercial years ago where a mechanic asked a customer during an oil change if he wanted to replace the filter. When the customer declined, the mechanic calmly replied, "That’s okay with me. You can pay me now,… Continue Reading “Pay Me Now or Pay Me Later”
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