Spring Cleaning

Spring cleaning is a great time to complete those chores you've been putting off all year — or in some cases, for the last few years. The process can be overwhelming at times, but if you create a list of projects and complete a few each day, the spring cleaning process can be quite manageable and even fun! Here is a helpful list to get you started:

Wash your blankets, comforters and rugs, and have your carpet shampooed and floors waxed.

Clean all walls, ceilings and woodwork, including baseboards. Repair any cracks in the plaster.

Empty everything out of the refrigerator and freezer. Throw away any unused or expired items and place the rest in a cooler. Scrub down all interior surfaces, including around the doors.

Clean and sweep under the refrigerator and other heavy appliances like your washer and dryer.

Empty your kitchen cabinets and closets, and discard any unused items or stale chips or cereal. While you're at it, organize your spices and put them in alphabetical order for easy access.

Dry-clean all curtains and draperies, and wash your windows inside and out.

Dust furniture, ceiling fan blades, light fixtures and window blinds.

Go through your closets and wash and pack away all out-of-season clothing.

Re-caulk tubs, showers and sinks. Also, fix your leaky faucets and remove any water or rust stains in these areas.

Tighten loose doorknobs, pulls on drawers and cabinets, towel racks, switch plates and outlet covers.

If you have a garage, clean it out. Create efficient storage for sporting goods, camping equipment and garden tools.

It's also important that you enjoy yourself during spring cleaning. Turn up your favorite music, open your windows for some fresh air and have fun! If you're looking for more cleaning or home maintenance tips, contact me today.

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Questions or comments write or email:
eugenedougherty@howardhanna.com
http://www.eugenedougherty.howardhanna.com/
YOUR Personal Guide to Real Estate

Thinking of Real Estate as an Investment?

According to a recent Merrill Lynch Economic Report, the prices of homes have not decreased, as some may believe. In fact, real estate prices have increased 60% since 2000. If you've owned your home since then and are worried about the return on your property, have no fear because even if prices do decrease when it's time to sell, you'll still be ahead. If you're thinking about purchasing a new home in the current market, keep in mind that real estate is one of the few investments you can make using leverage. This means you can put 10 to 20% down, yet your return is based on the full market value of your home.

In the past eight years, the S&P 500 report has only declared a 1% per year return, despite stocks doubling in the past five years. It's important to think long term when it comes to the value of your investment. Real estate investments have provided larger returns in the same amount of time. Also, consider the "use" benefit of owning a home compared to owning stock. You'll be able to tangibly enjoy a real estate investment. You probably can't make fond memories with stocks, but owning a home provides the opportunity to create traditions and a place to call home.

Finally, considering the recent drops in interest rates, now is the time to buy and lock in a low fixed mortgage rate. It may be tempting to wait for the rates to drop more, but there is a chance you will miss out. Nobody can accurately and consistently predict the market. Investing now, while you know you have the upper hand, will provide you with a comfortable interest rate you'll be happy with. If you've owned your home for more than two years, you may want to consider refinancing. Especially if you have an adjustable rate mortgage, securing a low fixed interest rate can help ensure the stability of your financial future.

Rest assured that your decision to a buy a home is the right decision, and be confident in your investment! Contact me for more information.


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Questions or comments write or email:
eugene.dougherty@realliving.com
www.realtyone.com/eugene.dougherty
Your Personal Guide to Real Estate

Tax Tips

Mortgage interest The biggest — and most obvious — tax break associated with owning a home is the ability to deduct the interest you pay on your mortgage.

Home refinancing If you refinanced, you may be able to write-off the points paid for the new loan. But, you'll have to deduct them proportionately over the loan's life.

Home-buyer loan points The points you pay when closing on a home are deductible on your income tax statement for that year.

Real estate and property taxes Local property taxes can be deducted as an expense against income. However, your real estate taxes are only deductible in the same year they are paid to the government.

Home office You may be able to deduct the cost associated with maintaining a qualified home office. Expenses such as painting and general upkeep are tax deductible.

Health-related improvements Home improvements made for health reasons are deductible from your taxes — as long as they aid those who are chronically ill or disabled, without adding value to your home.

Be sure to consult a tax professional if you have any questions regarding the details of these deductions and how they apply specifically to your returns. If you later remember an overlooked deduction that can be documented, the tax form 1040X can be used to amend your tax returns up to three years after the original due date. It pays off to take the extra time to check into all possible home ownership deductions.

For more home-owning advice, contact me today!

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Questions or comments write or email:
eugene.dougherty@realliving.com
www.realtyone.com/eugene.dougherty
YOUR Personal Guide to Real Estate