Categories for Seller

State Tax Laws Allow for Plenty of Exemptions and Assistance

In her more than 30 years as a realtor, Terrie Cox, RE/MAX Equity Group has received many questions about income tax exemptions in the State of Washington. Not only does Washington not have state income tax, but the state also offers a variety of tax exemptions, credits, and assistance benefitting a range of luxury home shoppers and owners.

No Taxes on Income, but Others Elsewhere

Photo Of Income Tax Exemption Paperwork - Terrie Cox, RE/MAX Equity GroupWashington’s income tax exemptions regularly win the state spots on “Best Places to Retire” lists. It’s true: the state is among those that do not collect taxes on retirement checks. But it’s also worth mentioning that Washington, compared to the rest of the United States, has relatively high sales and property taxes. Still, retirees can apply for special relief programs to cut their property tax burdens.

Some Can Avoid Full Property Tax Burden

Property tax rates depend on the budget, voter-approved levies, and bonds in a property’s district. Fortunately, Washington offers a number of income tax exemptions and assistance options. Senior citizens and residents with disabilities, for example, can apply to “freeze” the value of their home, exempting them from excess levies and, potentially, a portion of regular levies. Widows and widowers of veterans may also be eligible for property tax assistance. The state’s Department of Revenue outlines the conditions, contacts, and necessary applications for the various programs.

Add a Room, Get a Break

Homeowners who add a new room, deck, or patio to their single-family homes may qualify for a three-year tax exemption on the value of those improvements, which is excellent news for affluent homeowners. To find out if your planned renovations will qualify for savings tax exemption, call your county assessor’s office and file an application. Applications generally must be filed before you begin improvements but after you’ve obtained the appropriate building permits.

Energy-Efficient Homes Downsize Tax Bills

Aligning with the Pacific Northwest’s environmentally conscious reputation, the Federal Housing Administration’s energy-efficient mortgage programs incentivize eco-friendly home improvements. These programs help buyers save money on utility bills by folding the cost of improvements into the purchase of their homes. These programs also include operational savings from the purchase of an energy-efficient home, and buyers may qualify for discounted loan fees or lower mortgage interest rates.

Explore the Market with Terrie Cox, RE/MAX Equity Group

With the combination of income tax exemptions, incentives, and credits available in Washington, you may be unsure which benefits apply to you. Terrie Cox, RE/MAX Equity Group is an experienced, world-ranked realtor who is prepared to help answer your questions. Call or text Terrie directly at (360) 607-4100 to find the luxury home that fits your lifestyle.

POSTED ON: September 24, 2015 2:00 pm BY:

You only get one shot at a “First” impression.

With the advent of the Internet, the way real estate has been purchased and sold vastly changed. Most searches now begin online, as the Web helps potential buyers weed down their list of homes to view in person. But one thing that hasn’t changed is that a home should definitely stand out from the crowd of other inventory. A seller’s home should be unique, and in some cases, staged to suit the buyer’s imagination.

“Staging is preparing a home for sale so the buyer can mentally move in,” says Terrie Cox.  “Decorating a home is personalizing it,” she says. “Staging a home is depersonalizing it.” Did you know that only 10% of buyers can actually visualize the potential in a home. 

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When staging your home for showings, you want buyers to be able to see themselves living in your home. It should have a comfortable feel to it, without being too funky or extreme. Sometimes, the choice of decor and home furnishings can hurt a relocating family’s chance of selling their home. If furniture is too unusual or quirky, sellers might find potential buyers turning away.

Cost can vary depending on how much you want them to do. From Basic consultation and advice on how to prepare your home to a more comprehensive consultation and helping with furniture placement, de-cluttering and more. 

If this is out of your price range, there are still things you can do to make sure your home is buyer-friendly. For example, make sure that your color scheme is neutral, and if it isn’t consider repainting. You want a nice calming feel so that buyers aren’t turned off by any drastic coloration or design. Make sure your lighting complements the new scheme after painting.

Home Concepts can recommend the correct actions to take to prepare your home.  



POSTED ON: July 16, 2013 9:05 pm BY: