KentuckyHomesByJudy-Blog

When interviewing real estate agents to sell your home, asking the right questions is key to finding an agent who will best meet your needs. The process of selling a home can be complex, and the right agent will not only have the experience and market knowledge but also the right approach to guide you through every step. By asking insightful questions, you can gauge an agent's expertise, communication style, and understanding of your goals, ultimately helping you choose someone who will work tirelessly to achieve the best possible outcome for you. Here are 25 common questions homeowners often ask when interviewing a real estate agent to sell their home: What is your experience in real estate, and how long have you been working in this area? How many homes have you sold in the past year? What is your average sale-to-list price ratio? How familiar are you with my neighborhood? How do you determine the listing price for a home? What are the current market trends, and how...

In the past, many homeowners didn't give much thought to keeping detailed records of home improvements. With capital gains exclusion thresholds of $250,000 for single filers and $500,000 for married couples, most homeowners didn't come close to exceeding these limits when selling their homes. As a result, they often overlooked the importance of tracking and documenting their expenditures on property improvements. However, the landscape has shifted significantly in the last decade. The rapid appreciation of home values has pushed many homeowners into a position where they might exceed the capital gains exclusion threshold and owe taxes on their profit. By understanding what qualifies as a capital improvement and maintaining accurate records, homeowners can increase their adjusted basis, thereby reducing their taxable gain when selling their property. What Counts as Capital Improvements? Capital improvements are expenditures that add value to your home, prolong it...