Planning to Sell in June or July?
The spring real estate market is coming in hot, friends! So if you’re a homeowner looking to capitalize on the busy season for home buying in Spokane, here’s what you need to do NOW to be ready to list at the height of the market in June/July. Start decluttering now. And no, I don’t mean just casually getting rid of some junk. I’m talking you’re taking a full weekend or multiple to go through every drawer and back closet to purge the items you don’t want to move. And clean out the spice cabinet while you’re at it, everyone needs to get rid of some old, yucky spices! Host a yard sale to sell the items you don’t want to toss. I’m not kidding, before moving last my husband and I hosted a yard sale and made $800 in one day selling items we no longer wanted or needed Collect your most recent escrow statement to confirm your property taxes, home insurance payments are up to date Meet with a Realtor to game-plan and get a Seller's Estimated Netsheet. This is a given but often put off for too long. Have your Realtor run the numbers and draft a Netsheet for you based on a rough sales price for your home.Plan ahead and pick a weekend you want your house to go live. Then book a trip out of town, a hotel room for the weekend or plan a camping trip for that weekend so you can be gone and your Realtor can have that time to host an open house, schedule as many showing as possible and sell the crap out of your home.If your goal is to sell your home in June or July, time is of the essence to start prepping now. Drop me a line or comment “SELL” and I’ll send you a link to download my free Listing Guide to get you started 💃🏼
Interest Rates Post-Election
I don't know who thought it was a good idea to lump the election, daylight savings, and Halloween all into the same week, but I am tired. And I know you are too; sending a little extra love to everyone out there today.If you've been keeping an eye on the market and mortgages this week, you'll notice the markets roared and mortgage rates increased. But if the Fed cuts rates, doesn't that mean interest rates go down too? Not exactly. The two are mutually exclusive. Despite how often mortgage and interest rates are discussed together, they aren’t directly linked. The interest rate is more so tied to the 10-year treasury yield. And the 10-year spiked this week in response to the election outcome with fear of future inflation. The average rate for a 30-year fixed mortgage was 6.79% as of yesterday, according to Freddie Mac. Also, is it a seller’s or buyer’s market? Neither. And I wouldn't hold your breath for lower rates unless a miracle happens. Economists anticipate rates staying the sale or inching up a little higher. With that said, I wish I had better news on the mortgage front. I'll continue to keep everyone abreast. If you want to talk more about interest rates, homeownership, or what it looks like to sell your home in this climate, attend our upcoming virtual workshop on 11/20 at 6 PM. RSVP here!
How to Appeal Your Property Taxes in Philadelphia (and beyond)!
If you’ve just received your property tax bill for the upcoming year and it’s higher than you expected, don’t worry. You can appeal your property taxes! Let's walk through the process of appealing your property taxes, step by step. Check your assessment notice First things first, take a good look at your assessment notice. This document shows how much your local county thinks your property is worth. If you think they've overvalued your home, it's time to consider an appeal. Do your homework Before you jump into the appeal process, do some digging: Look up recent sale prices of similar homes in your area. You can do this easily on our website or reach out to us directly for comparables (comps). Check if there are any mistakes in your property's description (like date built, an extra bathroom or a finished basement that you don't actually have, square footage, etc.). If there is, then you have a good case for appealing the newly estimated property tax. Consider getting an independent appraisal to compare with the city’s/township’s. If you want to go this route, reach out to us and we’ll provide our contact. It’s important to note that since property tax assessment appeals provide more information than your county has, there’s always a chance that your property is reassessed at an even higher value. If that happens, you’ll need to pay more in property taxes than you do, which is why it’s important to weigh all the information first. File your first level review or appeal If you wish to proceed, the next step is to file your appeal. This may sound overwhelming, but we promise it’s as straightforward as it can be. To file your appeal with your county's Board of Assessment Appeals, you should: Fill out the form you received in the mail to file a First Level Review of your property valuation OR Go to the PA Department of Revenue’s website. Find your county's appeal form Gather evidence to support your claim (comps, a rececnt appraisal, etc.) Fill it out completely Submit everything before the deadline (which is usually September or October of the respective year). Note that this may require a small fee If you are not satisfied with the outcome of your first review, file a second appeal Once you file your second appeal, the board will schedule a hearing. To get ready, make sure you have all your documents organized, practice a brief statement about why you think your assessment is too high, and have multiple copies of everything just in case you need to share them with others. You may hire an attorney to represent you on your behalf. We personally love Nochumson P.C. Once you’re there, present your case and answer any questions the board may have for you. The board will make a decision within a few weeks, so all that’s left to do is wait! Good luck, and may the property tax gods be ever in your favor! Remember, while this process is similar across Pennsylvania, some details might vary by county. Always check with your local assessment office for the most up-to-date information. If you have any questions about appealing your property taxes, feel free to reach out at brittany@nettlesandco.com.
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