Perhaps you’ve thought about selling your present home, but have put off that decision, thinking that now is not a good time to sell. Want some advice? Wait no longer!Consider what happens during the “bad times.” Most homeowners want to sell their homes for the highest possible price in the shortest possible period of time. So, during those periods that are perceived as “a bad time to sell a home” or a “buyers market,” those homeowners put off their selling decision until a more favorable selling climate exists.

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Let’s plant two “money trees” and watch their growth. We’ll plant the first by placing $20,000 in a savings account earning 5% interest, and leave it there for five years. After five years, we’ll withdraw our initial investment ($20,000) plus the interest ($5,525). We invested $20,000 and received back $25,525, a 5% yield.Now, let’s plant the second tree. We’ll buy a home for $100,000 and invest $20,000 (as the down payment). For the sake of argument, we’ll assume that the home appreciates at 5% each year, just as the savings account earned 5% interest. At the end of five years, the home will be worth about $128,335, a $28,335 gain (that’s at an annual rate of 5%).

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Real estate has proven again and again to be an excellent investment, encouraged by the fact that capital gains on its sale can often be avoided completely. While traditional investment vehicles like stocks impose a 15% tax on long-term gains, you can exempt $250,000 (or for joint filers $500,000) of your home sale profit from taxation.There are only two simple qualifications: you must have owned the home for at least two years, and it must have been your principal residence for at least two of the five years prior to its sale. Those two years don’t even have to be consecutive!

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Bennington, November 17, 2007 – Troy Richardson of The Southern Vermont Board of REALTORS® in Bennington, VT was among the more than 30,000 Realtors® – a record number – attending the REALTORS® Conference & Expo titled “No Limits,” held in Las Vegas, November 13–16.

Realtors® and other guests came to the National Association of Realtors® annual conference to stay abreast of the latest developments and trends in the real estate industry, networking with colleagues from across the United States and from more than 50 countries around the world.

NAR President Pat V. Combs urged Realtors® to help restore confidence in the real estate market by educating the public about the value of housing as a good long-term investment. “Housing continues to be a good long-term investment,” said Combs, “Real estate is alive and well and there are plenty of opportunities for consumers and Realtors® in the current market.”

NAR Chief Economist Lawrence Yun pointed to an increase in jobs and the projected growth of the gross domestic product at 3.3 percent as evidence of positive economic fundamentals. Yun contrasted current low interest rates and high employment levels, and explained how present market conditions differed from those in previous market slowdowns. Yun also told attendees that home prices are holding up extremely well. “2007 is shaping up to be a good year with home prices at near record highs. Only two other years – 2005 and 2006 – were better, which also set records at the time,” he said.

Realtors® attended programs on the economy, public policy, equal opportunity and diversity, land use and property rights, the environment, international real estate and housing opportunities. Realtors® were also briefed on NAR’s advocacy efforts regarding several legislative and regulatory proposals that would further benefit homeowners. These included eliminating the tax on “phantom” income that affects individuals who have a loan forgiven or are forced to foreclose, modernizing the Federal Housing Administration’s mortgage-insurance program and addressing the impact of and solutions regarding rising homeowner and property insurance rates.

Realtors® are known for their commitment to building strong communities, and hundreds of them contributed their time and efforts to the greater Las Vegas community while attending the conference. Conference attendees rolled up their sleeves and lent a hand to Habitat for Humanity Las Vegas and the Children’s Service Guild, a Las Vegas-based nonprofit dedicated to helping children touched by the family court system.

NAR kicked off a yearlong centennial celebration at the conference, marking 100 years of bringing America home. A new book, The National Association of Realtors®: 100 Years in Celebration of the American Dream, which provides an historical account of the real estate industry over the past century and NAR’s involvement in shaping and transforming that industry, was made available for the first time, and a retrospective video premiered during the conference.

There were also 744 exhibitors at the conference – the largest number on record in a single NAR trade show – displaying the latest in real estate-related hardware, software and other state-of-the-art industry tools.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Press Release, Bennington VT

How do you know when it’s a buyer’s market? Look at your watch. If the date is today – then it’s a buyer’s market! How can that be? Because a buyer can find just the right home at a favorable price 365 days of each year. (more…)

Once you decide to list your home for sale, how long will it take to sell? How long should you give the agent to successfully market your home?The best answer is to be reasonable. But what’s reasonable? 30 days? What about 300 days? Of course, there is no standard response.

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