What is your home worth? The market value might depend based on the real estate market, condition of your home, amount of land associated with the property, amenities to your property and comparable properties’ market value. Learn more here about how to calculate the market value of your home and what it means for you.
Once you figure out how the condition of your home compares to other homes that are for sale in your neighborhood, and you decide whether you're willing to fix it up for sale, you can turn your attention to pricing your property. To get the most money for your home, you should make it shine. Fix the broken items, repaint the interior, clean the carpet, "stage" your rooms, and clear out the closets and countertops.
It is probably better to transfer property through inheritance, rather than gifting or quit claiming the property. With inheritance, the property will be transferred at the market value of the day of the land, and both parties will avoid a big tax bill.
When you buy a home and the home seller fails to tell you about problems with the home, the seller may have violated the concept of seller disclosure. Seller disclosure laws vary by state and to fully understand your recourse you should contact a real estate attorney. The seller may be liable for some of the costs of repairing the items they failed to disclose.
What should you do when you were into flipping real estate and it's no longer profitable? Flipping real estate is less profitable when home market values go down. When the real estate market declines you should do your best to continue making mortgage payments so your credit doesn't get damaged.
The thing I've always loved about the Internet is that it's by and large color blind. Whoever you are, whatever you do, you could go anywhere, tap int...
Real Estate Minute with Ilyce Glink Median Prices are Falling, But That Doesn’t Mean Houses Aren’t Selling Original Air Date: October 4, 2006
When you inherit property you inherit it at the market value of the property the day the person who owned it died. This market value is your cost basis when you calculate taxes while selling the property. In addition to federal capital gains taxes you'll likely have to pay state taxes on the sale of the property inheritance. Learn how to calculate the taxes on a property inheritance.