With the tax season upon us, it is a great time to reevaluate your Homeowners Insurance Policy. Many homeowners don’t realize this is a task that should be undertaken every year. Below are several reasons for reviewing your insurance.

1. Home Values Change: Several factors affect the value of your home (market trends, improvements, economics). If your home value increases, it is important to update your policy to ensure adequate coverage.
2. Liability Coverage: Check current liability coverage and if it falls below your current net worth, or what you could lose if someone is injured, it should be increased.
3. Disaster Risk: With “once in a lifetime” weather events occurring more frequently in certain areas due to climate change, you may decode there is a need for additional insurance coverage.
4. Renovations & Improvements: Many homeowners make improvements or upgrades to their home. These changes may increase the cost to rebuild in the event of damage/ loss of your home and may need to be updated to reflect current cost to rebuild.
5. Exclusions: Insurance policy exclusions limit a homeowner’s coverage. Annual review allows you to better understand your coverages and adjust as needed. Being prepared is a homeowner’s best defense against losses.

Annual policy reviews safeguard you and your investment against being under-insured at the time of a disaster. If you are preparing for a home sale or want to know the value of your home in today’s market, contact the professional Personal Relocation Managers (PRM’s) at Moving Station to obtain a “no obligation” home valuation review.

Sources: NAR, Realtor.com, Baird & Warner, CBIZ

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Tax time is here again and as a homeowner, several deductible expenses can reduce your total taxable income. There are generally two types of deductions. “Standard deductions,” are based on a myriad of factors like filing status, age, and familial considerations to name a few. Itemized deductions include personal deductions, certain homeowner expenses, and charitable contributions. When filing your taxes, you can elect to take the standard or itemized deductions. Some deductions exclusive to homeowners are:

1. Mortgage Interest
2. Home equity loan interest
3. Discount points
4. Property taxes
5. Mortgage insurance
6. Necessary home improvements
7. Home office cost

Property tax exemptions are typically provided for owners in the following situations:

1. Homeowner Exemption
2. Senior Citizen Exemption
3. Senior Freeze Exemption
4. Longtime Homeowner Exemption
5. Home Improvement Exemption
6. Returning Veterans’ Exemption
7. Disabled Veterans’ Exemption
8. Disabled Persons’ Exemption

For homeowners who itemize their taxes, the mortgage interest deduction is usually the largest tax deduction. A newer homeowner deduction is the Residential Energy Credit. This tax credit applies to homeowners who purchase qualifying equipment such as solar panels, geothermal systems, insulation, etc. Energy-efficient improvements installed post-January 1, 2023 may qualify for a tax credit of up to $3,200.

The best way to make sure you are taking advantage of all deductions allotted to a homeowner is to speak with a qualified tax specialist.

Sources: Rocket Mortgage, NAR, IRS.gov, AI

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The most consistent thing about any market is change, this is especially true of the real estate market. Below are the top analysts’ predictions for the 2024 real estate market, no crystal ball required.

1. Rising interest rates will end and the 30-year rate will level out spurring the market for both buyers & sellers.
2. Home prices will modestly increase in most markets, although not at the rate earlier predicted by forecasters.
3. The supply of homes for sale will also modestly increase in 2024 with an expectation that the combination of rates, prices and household income will make homes about 5% more affordable by the end of 2024.
4. Barring a significant increase in the available inventory (homes for sale) 2024 will remain a sellers’ market.
5. With the continuation of low inventory and high demand most experts predict there will not be a housing market crash in 2024.

In today’s real estate market, you don’t need a crystal ball, just knowledgeable professionals to help you navigate the landscape. Talk to your Personal Relocation Manager (PRM) at Moving Station to get your 2024 home sale off to a great start.

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As the holiday season approaches, many people find themselves reflecting on the cherished memories accumulated over the years. Amidst the festive spirit, there’s a growing desire to simplify life, declutter, and create a more organized living space. Downsizing becomes an appealing prospect for anyone looking to make their homes more manageable, yet still cozy.

Embracing Simplicity:

Assessing Belongings: Start the downsizing journey by evaluating possessions. Consider what items hold sentimental value and what can be part of your downsizing strategy. Separate belongings into categories like keep, donate, or sell.

Holiday Memorabilia: Preserve the holiday magic by keeping cherished decorations and ornaments that hold special memories. Consider passing down some of these treasures as gifts to family members this season, ensuring they become heirlooms that carry the warmth of family traditions.

Digital Memories: Embrace technology to digitize photo albums and create a digital archive of cherished memories. This not only saves physical space but also allows for easy sharing with loved ones.

Decluttering Common Areas: Streamline living spaces by removing excess furniture and decor. Open spaces create a more inviting and accessible environment, making it easier to move around.

Memory Boxes: Create designated memory boxes for sentimental items. Limiting the space for these cherished possessions encourages selective keeping, ensuring that only the most meaningful items are preserved.

Family Involvement: Involve your family in the downsizing process. Share stories about specific items by discussing their sentimental value. This can make parting with certain possessions easier and ensures that family members understand the significance of those items.

Gifts with a Purpose: Instead of asking for traditional gifts, consider suggesting you’d be more interested in experiences or items that align with a downsized lifestyle. This could include subscriptions to digital services, tickets to events, or even contributions towards organizing services.

As the holiday season unfolds, the act of downsizing and organizing can become a gift to oneself. By simplifying living spaces, you can create a more manageable, organized, and cozy home. Embracing this process during the holidays not only ushers in a new chapter but also paves the way for a more intentional and fulfilling lifestyle in the years to come. Cheers to a season of warmth, simplicity, and the joy of making space for what truly matters!

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Every seller hopes their home will attract the most qualified buyers and sell for the highest price. Strategies like those below make a great impact and may yield higher proceeds.

1. Updated Kitchens: The kitchen is often considered the heart of a home. The right kitchen updates in the right market can yield a great return on investment. Buyers are willing to pay more for modern appliances, on-trend finishes and plenty of storage space.
2. Renovated Bathrooms: Today’s buyers are seeking “spa-like” bathrooms that include relaxing features like soaking tubs and walk in showers. If you don’t have the room or budget for these types of changes, updating fixtures and lighting can go a long way.
3. Curb appeal: First impressions matter and a home with strong curb appeal can generate more interest from buyers. Landscaping, fresh paint and an inviting entryway will say to every buyer… “Welcome! The best is yet to come.”
4. Outdoor Spaces: Outdoor living areas and amenities may mean additional dollars at the closing table. Well maintained decks and gardens are seen as an extension to the internal space. Outdoor fireplaces or fire tables extend the use of the outdoor spaces, especially in areas where seasons fluctuate.
5. Staging: Studies show that “staging” a home before selling may generate 25% more on the sales price of the home. Good staging draws attention to the best features and creates a comfortable yet neutral environment for potential buyers, so they can visualize themselves living in the home.

Your Moving Made Easy® Personal Relocation Manager (PRM) knows real estate. As your consultant, they offer complimentary advice and information about your local market, home value and home marketing plan.

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Should you list a home in November or December? As the holidays approach, some homeowners wonder if this is a good time to list a home. The answer is “YES!” With increased travel and an influx of holiday visitors everywhere, late fall / early winter can be a great time to showcase your home.

1. Stage your home for the holidays. Use decorations that will accent your home’s best features. Think clean, cozy, and inviting holiday décor. It is best to use general fall and winter decorations.
2. Let the exterior of your home showcase holiday magic but avoid covering large stretches of the property and home. Visitors to your neighborhood will spread the word about the lovely home for sale!
3. During the holidays much of the country experiences lower temperatures, shorter days, and snow. Clear pathways, eliminate icicles, and make sure the property is safe for homebuyer’s visits. Don’t forget to keep your home well-lit, inside & out, to prevent a dreary feel.
4. Professional photography goes a long way when it comes to showcasing your home. Many shoppers begin their search online. Take photos before the snow falls or before you decorate, so as not to timestamp your home. Drone photos of acreage and special amenities can make your home stand out over other listings online.
5. Price your home competitively. This is true for all seasons. Use strategic price points. If your home looks like all the other homes on the block with similar features, competitive pricing will help your home to stand out over your rivals.

Talk with your Personal Relocation Manager (PRM) at Moving Station to provide you with all the information you need to price and sell your home.

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Creating a listing plan with your Moving Made Easy® Personal Relocation Manager and your vetted real estate agent will save time, money, and stress in the long term. There are several factors to consider when listing a home for sale, especially if you, the seller, are still living in the space when it is on the market. Here are a few things to discuss with your Personal Relocation Manager.

1. Seasonality of the local Real Estate Market

Weather affects us all and depending on the city, it could affect when potential buyers are looking to buy. In Illinois, December tends to be slower than April but in Florida, the winter months are not affected and attract more buyers. While there are always buyers out there, some months will be more competitive, leading to potentially higher prices. What months are most active in your market?

2. Average Days on Market

Days on Market refers to the time it takes to sell the home. It is calculated by the number of days between the list day and the day the home enters into a contract. If your neighborhood has a larger number of Days on Market (DOM), then consider listing sooner rather than later. For example, if it takes 50 days on market, then the home needs to be listed at least 50 days before a potential move date. 60-70 days before moving would be a safer option. Days on Market can also help determine if it is a buyer’s market or a seller’s market. Ask your Personal Relocation Manager for the most updated market data on your area.

3. Economic Factors

A stable economy can have a positive impact on the real estate market. Factors such as job growth, low unemployment rates, and favorable interest rates can contribute to increased buyer confidence and higher home prices. Determine if the average buyer in the area will be using a mortgage to purchase a home or buying with cash. Cash sales can be transacted much faster, and a home sale can be completed  in just two weeks, whereas a home sale with a mortgage will typically take 30-45 days after mutual acceptance to close. So, if the prospective buyer of your home will likely need a mortgage, then your house should be on the market 30-45 days plus an additional 2 weeks at least to ensure that enough buyers have had a chance to tour the home. In such a case, the ideal listing time could be 60 days from the potential moving date in this scenario.

Determining the best time to list your house for sale involves a combination of careful consideration and informed decision-making. While seasonal trends, market conditions, and economic factors play a crucial role, it’s essential to align your listing with your property’s condition and your personal circumstances.

By leveraging the expertise of your Moving Made Easy® Personal Relocation Manager and staying attuned to market trends, you can position yourself for a successful sale and a seamless transition to your next chapter of life.

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The Real Estate market has gone from “white hot” immediately following the pandemic to average in some areas of the country. While there are still many buyers out there, the five factors below define a home’s value in any market conditions.

1. Prices of Comparable Homes: Comparable home sales (comps) have a tremendous impact on the list price of any home. Recent home sales in your area that most closely match your home’s characteristics are used to determine your home’s most likely value.
2. Neighborhood: “Location, location, location” has always been – and will always be important. “Location” may include proximity to work, shopping, schools, transportation, and entertainment, coupled with a community’s crime rate and access to parking.
3. Age & Condition: Costs associated with cosmetic, mechanical, and structural deficiencies are something buyers consider when making an offer. An older home that has not been maintained may cost a homeowner thousands of dollars at the closing table.
4. Property Size: Typically, a four-bedroom home will probably garner a higher listing price than a two-bedroom home in the same area. Square footage
   (home & lot size) is a key consideration when sizing up the value of a home.
5. The Housing Market: Real estate runs in cycles; sometimes favoring the buyer, sometimes the seller. Supply and demand, mortgage rates, and high or low local inventory affect the value of your home. High inventory favors a buyer’s ability to negotiate the most favorable terms, and low inventory tends to favor the seller’s ability to ask for a higher price.

The best way to determine the value of your home is to contact your Moving Station Personal Relocation Manager (PRM) for a complimentary, no-obligation market valuation analysis. Your home is usually one of your biggest assets, find out what it’s worth today.

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The real estate market can be uncertain and unpredictable, and there is often a lot of real estate “fiction” out there. Below we help separate fiction from the REAL estate facts.

1. Fiction: Real Estate transactions are down because buyers’ interest is down.
   Fact: Buyer’s interest and demand are still very high, though transactions are currently down due to low inventory.
2. Fiction: I didn’t list my home in the Spring, so now I have to wait until next Spring.
   Fact: Spring is not the only time to list. The global pandemic, rising interest rates, and other economic influences have changed real estate market dynamics, making the “spring selling season” less of a factor.
3. Fiction: It costs too much to buy a home today, so buyers will wait for the market to crash.
   Fact: Most experts agree a housing crash is very unlikely. Home prices reflect the lack of supply and the high demand for new and existing housing.
4. Fiction: You should list your home with a “Super Agent”.
   Fact: Many top agents have groups of agents with varying skill levels who represent their “team.” You may never hear from the “Super Agent” again once you list with them and they delegate the tasks of selling your home to their team members & assistants.
5. Fiction: When selling, you should set a higher list price than other homes in the area to give you more bargaining room.
   Fact: Most homes sell for a price that is comparable to similar homes in the area. Pricing too high causes the home to linger on the market or require multiple price cuts, reducing your ability to negotiate.

Experienced professionals can help you separate the facts from fiction. Talk with your Moving Station® Personal Relocation Manager to obtain a no-obligation market valuation for your home. Get the facts about real estate in your area.

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Selecting the right agent is vital to a successful sale. Choosing the wrong agent can have several negative consequences, deterring your moving plans & costing you time and money.

1. A skilled real estate agent will effectively market your home for maximum exposure and the highest obtainable value. Choosing an agent that lacks marketing expertise will lead to a delay in selling & moving.
2. A knowledgeable agent is in tune with the real estate market. They will help you navigate your local market no matter its condition. An agent that lacks this knowledge will misguide you and lead to subpar outcomes hindering your ability to move forward with your plans.
3. The best agents are skilled negotiators. Negotiations are the critical aspect to a successful sale and move. Agents lacking in negotiating skills end up with less than desirable deals, which could lead to your inability to afford your desired post sale residency.
4. Effective agents are great communicators and responsive to everyone essential to the deal. Communication delays can result in lost buyers, prolonged listing time and extended move dates.
5. Pricing is one of the key factors when it comes to attracting buyers to your home. A savvy agent prices your home according to the comparable sales in the area. Pricing a home correctly ensures a faster sale leading to a faster move.

To enhance your chances of a successful home sale, and proceed with your moving plans smoothly, consult with your Moving Station Personal Relocation Manager who can provide you with a no obligation real estate professional.

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