If you are investing in a property, it is important to keep track of your income and expenses.

Many real estate investors miss out on tax benefits that could be keeping money in their pocket.

A program called T-ReX-Global can help investors track transactions and find tax write-offs, and offers a printable rental property tax form. Here are a few tax tips for investors:

• Document mileage to/from rental property.

• Keep track of repairs, upgrades, or damage to your property.

• Go to TRexGlobal.com for more information.

• Call Troy Richardson for your real estate needs!
Bennington VT, Investment

There is good news for homebuyers in the Bennington, Vermont area. According to the Keller Center at Baylor University’s Hankamer School of Business, economists predicted the housing market would stabilize during 2009. 

Despite a dramatic decline in home prices during the past two years, nearly 75 percent of the economists surveyed expect the market to bottom out no later than end of this year.

Just under half of the respondents expect the bottom to be reached by the end of the second quarter of 2009. “Despite that, we are now hearing reports that single-family segment of the housing market is exhibiting signs of stabilizing and here we are in the middle of the second quarter of 2009,” says Laura Indergard, MBA, associate director of the Keller Center at Baylor.

“The predictions of the majority of the economists would appear to be on target and I think that should be reassuring to the potential American homebuyer,” Indergard said.

In the Bennington VT real estate market which includes Arlington, Sandgate, Sunderland, Shaftsbury, Bennington, Old Bennington, North Bennington, Woodford and Pownal, through June 10 there were 34 homes sold.  This is nearly 50% of the number that were sold in the same time period in 2008.  However, the bright news is that there are 28 home “under contract” which should close within 4-8 weeks.  This is a sign that the market is becoming a little more active.

Bennington VT, Buying

Many Bennington, Vermont home buyers will drive by a house before scheduling an appointment to see the inside.  Make sure they make that call for a showing by creating an appealing view on the outside:

• View your house from a distance – is your eye drawn to clutter, or is the yard and porch clean and tidy?

• Are all the gutters, shutters and outside accessories in good repair?

• Is the lawn mowed and the edges cleared of weeds?

• Would a power wash of vinyl siding and/or decking help the home’s appearance?

• Have you called Troy Richardson to preview your home before listing with RE/MAX Maple Leaf Realty?
Bennington VT, Selling

If you are in the market for a Bennington, Vermont area home and would like to know more about the neighborhood, check out this fun site at http://realestate.aol.com/home-values and type in Bennington, VT. The map will give you information such as homeowners vs. renters, crime and school ratings, etc.

Because all real estate is local, no single website can accurately capture or calculate market values.  To get a true market value, Troy Richardson can give you a local perspective.

Call Troy Richardson at 802-447-3210 to schedule an appointment to view homes in your choice of areas!

Bennington VT, Buying, First Time Buyers

Mortgage rates across the board jumped this week, with conventional mortgages reaching their highest point so far this year.

Freddie Mac reports a jump in the 30-year fixed mortgage rate to a 25-week high of 5.29 percent during the week ended June 4, up from 4.91 percent the prior week. As recently as two months ago, rates had been 4.78 percent.

The 15-year fixed rate also increased, rising to 4.79 percent from 4.53 percent, with Freddie Mac chief economist Frank Nothaft indicating that the gains follow a surge in long-term bond yields.

Meanwhile, the five-year adjustable mortgage rate climbed to 4.85 percent from 4.82 percent, and the one-year ARM surged to 4.81 percent from 4.69 percent.

Source: Chicago Sun-Times, Francine Knowles (06/05/09)

Have you been hit with the recent credit card rate changes, and are considering closing your account? If you are planning to buy a new Bennington area home, consider keeping it open and simply not using it. Closing accounts can affect your credit score. But if you must close one or more accounts, consider these tips:

• Keep your oldest card open – your credit score decreases if your credit history shortens, making you appear to be more of a loan risk to lenders.

• Having a variety of accounts (retail, mortgage, car loans, etc.) could help your score. Consider keeping a mix of credit accounts open.

• Don’t close all your accounts at once. This could put a red flag up to lenders that you are anticipating trouble with finances

• Close your newest cards (or those newer than your longest running account) or ones with the lowest credit limits.

Bennington VT Real Estate, Buying