We perform home inspections in about 10 counties throughout Washington from Seattle to Wenatchee. Occasionally our clients call to book an inspection and are still a little confused about the inspection cost– who pays it, how much it is, etc. We did a little internet search and found a few closing cost calculators that may help the potential home buyer. The calculator we are sharing seems to have the most descriptions of the costs, but will only give you a rough idea since the costs are only estimations. For example, they estimate the cost of an inspection at $175, but our inspections start at $275…this is standard for a single family home. Condos may be less. Also, the appraisal fee usually starts around $300. A loan application fee will be added to the credit report for a combined fee of $75-$300. With all this in mind you can use the calculator to get an idea of the added costs associated with buying a home. If you have a good agent to walk you through the buying process then you won’t be blindsided with these costs. They can also help you negotiate fees that may be shared with the seller.
Closing Costs Calculator from Mortgage-Investments.com
Posted in closing costs, freddie mac, home inspection, homeowner, issaquah, king county, kirkland, Leavenworth Real Estate, mortgage, purchase, real estate, real estate data, real estate trends, realtor, redmond, seattle, seattle real estate, seller, taxes, washington, Washington Home Inspection, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate, yakima
Tagged appraisal, chelan, closing, closing calculator, credit report, escrow, home inspection, home loans, leavenworth, loan application, mortgage, mortgage closing costs by state, seattle, wenatchee, yakima
In a time where buyers are cautious and are really weighing out all the benefits of home ownership here are some considerations for tax season. Several tax deductions and credits are providing relief to homeowners and making them very proud of their investment decision. Deducting mortgage interest, home equity debt, capital gains on home sales and taking advantage of energy conservation credits are just a few of the tax season benefits that homeowners can cash in on. Do you have a home office? There’s another one. Most of our monthly home loan payment is interest and you can deduct every bit of it. Only those folks with a loan of $1,000,000+ receive a cap on this deduction.
Stephanie Singer, a Realtors.org contributor wrote about this topic in Tax Time Less Taxing for Home Owners. She said that, “ninety-one percent of homeowners who claim the mortgage interest deduction earn less than $200,000 a year, and the ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home in 2010 with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 4.5 percent, could save nearly $3,500 in federal taxes when they file this year.”
We found a great resource from Kiplinger.com. They have listed all the deductions for homeowners at “What’s Deductible? – A to Z.” Check it out to make sure that you’re getting the most deductions as a homeowner. We use a skilled accountant in Wenatchee to guide us through our own tax deductions. We suggest that you hire a recommended accounting professional to point out these important opportunities for you.
Posted in builder, builders, chelan, closing costs, home inspection, home inspector, home owner, home sales, homeowner, issaquah, king county, kirkland, leavenworth, Leavenworth Real Estate, mortgage, purchase, real estate, real estate data, realtor, seattle, seattle real estate, taxes, washington, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate
Tagged accountant, energy conservation credits, federal income taxes, file taxes, filing taxes, home inspection, homeonwer tax guide, homeowner tax deductions, leavenworth, mortgage, mortgage interest, seattle, tax credits, tax deductions, wenatchee, yakima
Every year the NCHBA or North Central Home Builders Association produces a spectacular home show in Wenatchee, Washington. There’s a little something for everyone whether you are interested in remodeling, decorating, building, buying or selling a home…they’ve got all the experts there for your questions! Here’s some info from their website. Download this COUPON for $1 off admission:
This year, we have a lot of new things going on and are very excited to “get the Show on the road”! The Kid’s Zone by Lowe’s is going to be fantastic this year. Not only will the kids be able to build their own project with a professional from Lowe’s, they can go on a scavenger hunt with their parents or enjoy FREE ice skating on Friday and Saturday. So, if you have kids that are 12 and under, make sure to take them to the Kids Zone by Lowe’s, located in the Crunch-Pak Hospitality Room on the the main floor of the Town Toyota Center! Workshops and How-to’s that you WON’T want to miss! Come and see what the Master Gardeners have to demonstrate on Friday, Saturday and Sunday of the show! Be one of the first 250 attendees on Saturday and Sunday and receive a special Home Show Entrance Bag! These bags will be filled with small gifts, specials and discount coupons from participating sponsors and vendors! These bags will also come in very handy when you need a place to stow away other information and items you gather! There will be additional event parking available for attendees across the street at Walla Walla Point Park, both parking lots, as well as at Lowe’s Home Improvement Warehouse. Many thanks to Lowe’s for generously allowing our Home Show attendees to use half of their parking lot for our event!
Posted in air conditioning, bathroom, biaw, builder, builders, buyer, chelan, closing costs, electricity, energy code, energy star, foreclosure, foundation, home, home inspection, home inspection report, home inspector, home inspectors, home owner, home sales, home show, inspection, inspection report, inspections, issaquah, king county, leavenworth, Leavenworth Real Estate, maintenance inspection, market, minor maintenance, mortgage, new construction, new home owner, plumbing, plumbing code, real estate, real estate data, real estate trends, realtor, seattle, seattle real estate, seller, toilet, trends, trulia, washington, Washington Home Inspection, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate, yakima, zillow
Tagged bathroom, chelan, garden, home inspection, home loans, home products, home show, kitchen, leavenworth, lowe's, mortgage, neighborhood, remodeling, safety, seattle, seattle home show, town toyota center, wenatchee, yakima
There’s that old saying, “you have to spend money to make money.” When selling a house it’s important to remember the associated costs. Your realtor is very well educated on the subject and can elaborate more, but here is a short list of considerations for sellers. (1) Get Ready To List. Fix all those little repairs before the home is listed because the buyer will order a home inspection. No matter how small the issue is the buyer will use this as ammunition later. (2) Commission. While real estate commissions are negotiable the typical rate is 5 to 7% . (3) State Excise Tax. The seller pays this tax consisting of local and state. Most of Chelan County is 0.50% making a combined total of 1.78%. (4) Closing. When you sign on the dotted line there will be some closing costs summed up from: escrow fees, title fee, document fee and buyer’s closing fees. These can total up to 1 to 4%. (5) Loan Balance. All loans on the home must be paid off before transferring the title. (6) Federal Income Taxes. It is important to check with your accountant and prepare for the possibility of federal income taxes especially if the home is an investment property or used for business.
Posted in closing costs, Leavenworth Real Estate, real estate, seattle real estate, seller, Washington Home Inspection, Washington Real Estate, washington real estate market, Wenatchee Real Estate
Tagged closing, escrow, federal income taxes, home inspection, home loans, leavenworth, state excise tax, title, wenatchee