wo days ago, someone made an offer to buy our old condo (hallelujah!!!) and we accepted. Just signed the papers today. Inspection should be a breeze. Settlement is in 6 weeks. On paper we are making a nice profit, but when taking into account the many months the property sat empty, 6% realtors’ commission, and the local 1% transfer tax, we are just getting back our 20% down payment and the equity we’ve built up through mortage payments.
I learned a few lessions. First, don’t buy a new home until you’ve sold your old one. Second, pick your realtor carefully. And third, if your home fails to get ANY offers for months, it’s priced too high.
Anyway, as I was glorying in our salvation from our cash-flow problems, a sobering question started nagging me: do we owe tax on the sale of the condo?
i’m not a tax expert, but it usually depends on how long you owed it…if it was your primary residence, and you owned it for more than two years, i dont believe you would owe taxes on the profit from the sale of your home…this is assuming that you live in the US
New home sales rep is completely different structure of compensation than a Realtor receives. I’m assuming your talking about working for a new home DEVELOPER or builder?
In that case typically you would receive a small base (sometimes it is just an hourly rate, say $10 an hour – or small weekly or monthly salary – and a commission on sales of 1% -1.5% or a sliding scale that might run higher based on volume.)
The idea is to provide the rep with a floor on their income unlike a Realtors arrangement, but you also will have a much lower ceiling on what you can earn since the commission rate is usually much lower. Builders also supply the leads, walk-ins etc for you to work.
http://www.tourfactory.com/s395781/r_www.youtube.com
For more information, contact:
Kathleen Yamauchi
928-771-1111
Kathleen Yamauchi Group Real Estate
Great curb appeal is only the beginning to discovering this exciting 4,068 square foot home. Scale runs big throughout with high volume ceilings and walls of curved wood windows capturing distant views. Situated to maximize views and privacy and designed around a flagstone courtyard, the master bedroom and great room enjoy the tranquil sounds of water tumbling from a 10 foot wall into a little pool. This patio also features a romantic outdoor fireplace. Suite of stainless steel appliaces. Newly built 3 bedroom, 3 1/2 bath home with 3-car garage set on a cul-de-sac in the Ranch at Prescott.
Duration : 0:3:26
Read the rest of this entry »
I am thinking of moving into this line of work – based on site selling new homes. Please can someone tell me the good and bad points about this job? Thanks
Bad – new home sales are down.
Requires weekend hours.
Good – competition is fierce for the sales that are out there and that can be a good learning experience for you. You will also be in contact with good people to know for other business things you may go into. The potential buyers come to you and you do not have to go out and find them. If someone wants a NEW home their choices are limited. Sellers are more willing to deal and more flexible in their pricing.
You will get to meet many new people.
New home sales looks good on a sales resume.
You have a competitive advantage over people that just sell existing homes. You have something unique.
The homes will be clean and you do not have to give input to the sellers on how to present the homes.
You will not have to work early in the AM.
my son qualified for a very large mortgage loan because of lies in that his earning were way greater the actual income…well the reaestate person made money when he purchased and sold ( the bank lost money???) now my son has bad credit and will he like many thousands get???
When you say "obama" you are talking about about me and the other honest people. You are really asking "Will the tax payers buy my son a house after his fraud came back at him and he got what he deserved?"
The bank gave your son more money then they were able to recover, so obviously they lost money, you son spent it and refused to repay it. This is obvious, not rocket science.
He will get what he deserves. Maybe he learned a lesson and will deal with honesty and ethics next time. But don’t get it in your head that your son now deserves my money because he screwed a bank, I have no problem with my tax money helping those in NEED, but his problem is not need at all, it is plain and simple GREED.
Brand New Home for Sale in Cumming, Georgia, Listed by Regina Storey & Susan Pech, Results Realty, 770-845-1544. 5 Bedrooms, 3 Baths. New CONSTRUCTION -RICHMOND PLAN. NEW FINAL PHASE OF HIGHLANDS MOUNTAIN COMMUNITY! BE A PART OF A BEAUTIFUL ESTABLISHED COMMUNITY. NEW VALUE. FABULOUS STONE ELEVATION W/COVERED FRONT PORCH. ALL NEW PLANS. CUSTOM BUILD AVAILABLE. READY TO CLOSE IN 30 DAYS OR LESS! Offered at $242,900.
Duration : 0:9:1
Read the rest of this entry »
Should I get a RE lawyer to help me making the offer or are there any good tools and forms available to prepare the offer myself?
I’m planning on getting a lawyer for the closing, since I don’t have a RE agent. Any advice for RE lawyers in Metro-Detroit area?
I would get myself a broker. It won’t cost you anything, and the owners are not likely to turn down a sale. A broker will still save you a bunch and help keep things smooth and legal. They can also advise you on what kind of initial offer to make, which isn’t going to be what you were thinking of.
I know this job has a basic salary plus commission but what kind of basic and what’s the earning potential does anyone know??? Thanks a lot.
Did you check on HotJobs or Monster.com?
does this make sense ok we want to build this modular (before u say anything these are not average ones, we have done research & even went to the plant & walkthrough 15 models) NEway they offer a 1665 sq ft ranch w/ full basment where all we need to do is sheetrock & its done, a full walk-up attic BLOWN out so its like another floor! a venetian spa bathroom that is 15′ * 13′ GEORGEOUS, a kitchen that is 20′ * 14′ & absolutely beautiful w/ all appliances included even microwave laundry washer & dryer EVERYTHING even the damn curtains come w/ the house. HOwever they want 250,000 for this yet im seeing 3000 sq ft houses 4 sale (not new) but for less than this. Not as nice of things but definitely way more space. Are we naive in thinking that its still worth it 2 pay more 4 smaller & get what we want? OR since its a modular it should not be that much money!? I know most people are bias when it comes to this but look for ureself on Pleasant Valley Modular. what do you think? advice please
3000 sq ft houses include the basment in the sq footage because its finished so NO its not impossible because i can give you realty sites with NEW contructions that have them at 250,000
The first thing to consider is the location. That is the most important thing in real estate. Buy in the best location you can afford.
The next thing would be to compare homes in your area that have the same amenities as the modular home, and are comparable in size. You may find that you are not getting such a great deal. You can opt to buy a larger home in a great location and invest the money in putting the amenities into it, i.e, the venetian spa.
You also need to consider financing. Many traditional lenders shy away from manufactured homes, so you may find yourself taking out a personal property loan — rather than a real property loan. I don’t think you will have many options in this type of loan so you may pay more for it. Talk to your mortgage broker.
Manufactured homes can tend to decrease in value if they are not immaculately maintained. The shortage of traditional financing for used manufactured homes often reduces demand for resale. Of course, this can vary greatly according to your local real estate market. Talk to your realtor.
The final thing to consider is how soon do you want to sell the home. It might take you longer to sell due to people shying away from modular homes and the lack of mortgage options. When my husband and I were looking for a home, we saw a beautiful modular home (I didn’t even know is was modular). The realtor immediately said to us that she needed to "disclose" that it was modular. The way she said it made my husband and I think there was a bad stigma attached to those type of homes. We opted for a more traditional home.
Finally, I would consider the motives of your friends, and if you find they are only looking out for your best interest, then I would listen to them.
Good luck in your search for the perfect home!
http://www.realtor.com/
Celebrity & luxury homes on Realtor.com. Find the home of your dreams on the new Realtor.com. Luxury real estate, celebrity homes, affordable homes or outrageous mansions.
Duration : 0:2:20
Read the rest of this entry »