Gary Price, Real Estate Broker-Associate

EVER WONDER WHAT GOES IN A CREDIT SCORE?

Here's a breakdown of the main factors that determine a credit score:

Payment History (35%) ✅
Consistently paying bills on time is the most crucial factor. Late payments can significantly lower your score.

Credit Utilization (30%) 💰
This is the amount of credit you're using compared to your credit limits. Aim to keep it under 30% for a healthier score.

Length of Credit History (15%) ⏳
The longer you've had credit accounts open and in use, the better for your score.

Credit Mix (10%) 🔄
Having a variety of credit types (e.g., credit cards, loans, mortgages) can positively impact your score.

New Credit Inquiries (10%) 🆕
Opening several new credit accounts in a short period can lower your score temporarily.

Understanding these factors can help maintain or improve your credit score.

Teething is the major reason that puppies bite. Good article to read about why puppies bite and how to handle the situation.

How to Stop a Puppy from Biting Discover effective ways to stop your puppy from biting, from teething solutions to behavior management tips and more. Learn how to correct this common issue!

There is opportunity in the marketplace. Interest rates have improved and inventory has increase from summer buying season.

The Best Time To Buy a Home This Year A shift is underway in the housing market this season.

July 2024 Sales and Price Realtor® Secure Transaction is your place to discover, access and master the essential tools for a modern, efficient and secure transaction.

Forecasters are predicting slightly lower interest rates, a small increase in homes for sale and over 5 million home sales next year.

Early Forecasts for the 2025 Housing Market Infographic Thinking about making a move in 2025 and wondering what you can expect? Here’s what expert forecasts say lies ahead.

I Was Addicted To The

Hokey Pokey

But I Turned

Myself Around

Save your heirs the hassle of probate by creating a trust.

Real Estate After Death
by Ethan Atkinson | Jul 23, 2024

When you die, do you want to create chaos and negativity as you pass away? If so, then make sure to do almost zero estate planning! No matter your level of wealth, if you don’t do any planning of your estate, you could easily leave your children or relatives with very few assets, and the assets you do leave may incur massive expenses for those who receive them. Additionally, you may create serious arguments among your heirs. For example, if your children do not get along and end up as co-owners of your house, they must still agree on how, if, and when to sell your property, and this can create bitter, relationship-ending disputes. If intense, posthumous disputes are the legacy you’d like to leave behind, then a severe lack of estate planning is a great way to achieve your goals.

If you’re already exhausted thinking about estate planning, relax; this is work that you should mostly leave to professionals. Find a good estate planner, and have them advise you on the best way to arrange your estate based on your individual situation and goals. One helpful resource is the non-profit National Association of Estate Planners and Councils. Also, if you have a retirement account through your work, you can often get some help from a financial adviser.

Though you should always discuss estate planning with a professional, there are a few larger concepts that are helpful to at least partially understand so you can be prepared to get the most out of discussions with your estate planner. One important consideration is that there is no single best way to transfer your estate. The best way for you to transfer your assets depends on the size of your estate, the types of assets you own, and the state in which you live. For example, if you live in Florida, there is no state estate tax. However, even in Florida, you still would owe federal estate taxes, which range from 18% to 40%. This is a significant tax, but it only applies to estates worth more than $13.61 million (this figure changes frequently). This means that only about 8 in 10,000 estates pay federal estate tax at all. If you live in Iowa, however, estates of more than $25,000 owe estate taxes (with certain exceptions). Thus, the state where you live, as well as estate size, has a massive effect on tax burden.

As we’ve discussed using Florida as an example, if you live in one of the 33 states with no estate tax, then you’ll only owe estate taxes if you have an estate worth more than $13.61 million (remember that this number changes often). If you have an estate of this size, you probably stopped reading this article within the first paragraph, because you likely have already been over these issues with a professional, and if you haven’t, stop everything you’re doing and call one right now. For the rest of us in those 33 states, it’s not so much federal estate taxes to be concerned about, it’s things like capital gains taxes and state taxes.

If a piece of real property is a significant part of your estate, the first thing you should do is determine your heirs’ level of interest in this property. If you are passing your house to an heir who cannot afford property taxes and can’t pay for maintenance, they may have to sell the property shortly after receiving it. Selling property in a short time frame means the price may have to be extremely low. If you’re passing on a vacation home to your three children, consider whether they really want to use this vacation home, or if owning this home together will cause financial disputes and other arguments. It’s nice to imagine that they will all use the old family vacation home together in perfect harmony, but let’s be honest, this may be a disaster.

After you’ve had a good, realistic talk with yourself and your heirs about who will best take care of and appreciate your real estate, it may be a good idea to put this real estate into a trust so that the property will immediately pass to your heirs on your death and avoid probate. Putting property into a trust is not an extremely difficult process, though it does require professional help. The basic idea is rather simple–you will no longer own your property as an individual person, but your property will be owned by a trust called something like “(Your Name) Revocable Trust.” Your heirs will be named as the beneficiaries of this trust, so they will essentially replace you in the trust once you pass away. Neither you nor your beneficiaries will own the property, but will be the beneficiaries of a trust that owns the property.

One essential consideration regarding real property and trusts is capital gains tax. When an heir inherits property, they get a potentially massive shield from capital gains tax. This massive tax shield involves a concept called “stepped up basis.” If you bought a property for $100,000 decades ago and sold it for $800,000, you would owe capital gains taxes on $700,000 worth of gain. Your original basis in the property is $100,000, and you are not taxed on your original investment (aka your “basis”), which is why you’d be taxed on $700,000 of gain and not on the full sale price of $800,000. However, if you spent $100,000 on a property decades ago that is now worth $800,000, did not ever sell the property, and your heir inherited it, your heir’s basis in the property would be “stepped up” to its current market value of $800,000. Thus, your heir would pay zero capital gains taxes if they sold the property for $800,000. A simpler way of saying this is that capital gains tax liability is essentially erased when property is inherited. Unfortunately, someone has to die to activate this amazing tax break, but I guess everything has a price.

Capital gains tax is also a significant consideration when creating a trust. For example, if you put your real estate into a revocable trust, your heirs will likely get a stepped up basis in your property when they inherit it, so they will likely avoid capital gains taxes. However, if you put your property into an irrevocable trust, your heirs will not avoid capital gains tax. This is because an irrevocable trust does not change in any fundamental way once you die, so death of the grantor (you) is not particularly relevant to an irrevocable trust. However, a revocable trust automatically becomes an irrevocable trust upon your death, and this change in the nature of the trust creates a stepped up basis for your beneficiaries, according to the IRS.

How to Spot the Perfect Fixer-Upper


In the world of real estate, there's a certain allure to properties that need a little TLC. These "diamonds in the rough" offer the opportunity to create a dream home tailored to your exact preferences, and often at a lower initial cost. But how do you spot one with true potential amidst the fixer-uppers? Let's explore some tips to help you find the perfect renovation project.

What is a Fixer-Upper?
A fixer-upper is essentially a property that requires repairs, renovations, or updates. These can range from cosmetic touch-ups, like fresh paint and new flooring, to major overhauls, such as structural repairs or complete remodels. Some examples include:
A vintage home with outdated fixtures and finishes
A property that has been neglected and needs general maintenance
A house with a great layout but in need of modernization
A structurally sound building with potential for expansion or conversion


Location, Location, Location: The adage holds true, especially for renovation projects. Look for properties in desirable neighborhoods with good schools, amenities, and access to transportation. A prime location can significantly boost your property's value after renovation.
Good Bones: Focus on properties with solid foundations and structures. Cosmetic issues are relatively easy to fix, but major structural problems can be costly and time-consuming. Look for properties with good roofs, solid walls, and level floors.
Layout and Flow: Consider the property's layout and potential for improvement. Can you easily reconfigure spaces to create a more open and functional floor plan? Look for properties with good natural light and potential for outdoor living spaces.
Hidden Potential: Look beyond the surface and envision the possibilities. Could you add a second story, finish a basement, or convert an attic? These additions can significantly increase your living space and property value.
Sweat Equity: Be realistic about your skills and budget. Some fixer-uppers are perfect for DIY enthusiasts, while others require professional help. Factor in the cost of materials, labor, and permits when evaluating a property's potential.
Comparable Sales: Research recent sales of similar renovated properties in the area. This will give you an idea of the potential resale value and help you determine a realistic budget for your project.
Professional Inspection: Always get a professional inspection before purchasing a fixer-upper. This will help you identify any potential issues and avoid costly surprises down the line.

Remember, finding the perfect fixer-upper requires patience, research, and a bit of vision. But with careful planning and ex*****on, you can transform a diamond in the rough into a beautiful and profitable home.

Pricing your home correctly will lead to a less stressful transaction and a timely sale.

The Number One Mistake Sellers Are Making: Overpricing Their House In today's housing market, many sellers are making a critical mistake: overpricing their houses.

Good advice to get your home photo ready

Photo Prep



5 Ways to Prep Your Property for Photos

Capturing the perfect images of your property listing is crucial for making a lasting impression on potential buyers.

# 1. **Declutter Every Space**

A clean, clutter-free home allows the true beauty of your property to shine through. Clear surfaces, tidy up rooms, and remove unnecessary items to create a spacious, inviting atmosphere.

# 2. **Depersonalize the Area**

Remove personal items like family photos, memorabilia, and unique decor. This helps potential buyers envision themselves in the space, making it feel more like their future home.

# 3. **Maximize Natural Light**

Open curtains and blinds to let in as much natural light as possible. Bright, well-lit spaces photograph beautifully and make your property look warm and welcoming.

# 4. **Stage Key Areas**

Focus on staging essential rooms like the living room, kitchen, and master bedroom. Thoughtful arrangement of furniture and decor can enhance the appeal and functionality of each space.

# 5. **Outdoor Touch-Ups**

Don’t forget the exterior! Mow the lawn, trim bushes, and blow away leaves. A clean, well-maintained yard sets the stage for stunning outdoor shots that make a great first impression.

**Bonus Tip:** A sparkling clean pool can be a major selling point, so give it a good scrub and make sure it’s camera-ready!

As this article implies, there are many items to a real estate contract that can be negotiable. An agent is there to assist you in getting the best terms for you. There is most alway give and take in a real estate transaction.

Helpful Negotiation Tactics for Today’s Housing Market If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market.

While inventory in Long Beach has increased in recent months, it is still below normal levels of recent years

Are There More Homes for Sale Where You Live? One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.

The real estate experts do not for see a housing crash. These 3 graphs support their findings.

Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008 Even if you didn't own a home at the time, you probably remember the housing crisis in 2008.

May 2024 Sales and Price Realtor® Secure Transaction is your place to discover, access and master the essential tools for a modern, efficient and secure transaction.

5 ways to boost your home value

Spring into action and boost your home’s value with these five smart, cost-effective updates! 🏡

1. Tackle deferred maintenance—fix those broken windows and freshen up with new paint.
2. Reclaim your spaces—convert that makeshift playroom into its original elegant dining room.
3. Upgrade to modern appliances and install LED lighting for a contemporary feel.
4. Declutter for an instant, cost-free refresh.
5. Consider minor DIY projects that add significant value without needing a pro.

A little effort can go a long way in enhancing your home’s appeal!

Here is what real estate economists are projecting for rest of the year.

Housing Market Forecast: What’s Ahead for the 2nd Half of 2024 As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.

Both are protections for the homebuyer.

The Difference Between an Inspection and an Appraisal When you decide to buy your first home, you may come across a number of terms and conditions you’re not familiar with.

For most 1st time buyers, you will need to be most disciplined to save for a down payment. You will feel the pain, but in the end, it is well worth it.

Savings Strategies Every First-Time Homebuyer Needs To Know If homeownership is on your goal sheet for your future, you’re probably working on your savings.

Ever wondered why a home might come back on the market?

There are many reasons a property reappears for sale, and it doesn't always mean there's something wrong with it. Sometimes, financing falls through, the buyer's circumstances change, or inspection results lead to renegotiations that don't work out. It could also be as simple as the buyer getting cold feet.

If you see a home back on the market, it might just be your second chance to secure a home of your dreams

A clear explanation of today's real estate market.

Home Prices Aren’t Declining, But Headlines Might Make You Think They Are If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify.

Joys of summer life. Lots of memories for me.

Clever Hacks for Your Next Beach Day These tips are the key to unlocking your seaside bliss.

Safety tips to keep your dog safe this summer. My dog went ballastic last 4th of July. Any suggestions to keep her calm over this holiday.

Summer Safety Tips for Your Pet Safeguard your pet from summer hazards with this guide.

Inventory has been increasing slightly and the phone is ringing more often.

What To Expect if You Buy or Sell a Home This June June is a busy month in the housing market because a lot of people buy and sell this time of year.

Home ownership givs one a true sense of belonging and community.

More Than a House: The Emotional Benefits of Homeownership With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home.

Very solid advice to follow if you are in today's marketplace.

The Biggest Mistakes Buyers Are Making Today Buyers face challenges in any market – and today’s is no different.

Pricing your home correctly can lead to a less stressful home selling experience.

Your Agent Is the Key To Pricing Your House Right [INFOGRAPHIC] The asking price for your house can impact your bottom line and how quickly it sells.

The biggest benefits of buying a home are building up your net worth as your home increases in value over the years and not having to worry about your housing expense rising every year.

Should I Rent or Buy a Home? [INFOGRAPHIC] While renting may be less expensive in some areas right now, there are two big benefits homeownership provides that renting can’t. 

Home ownership is achievable. When you are ready to go forward in buying a home, give me a call

Tips for Younger Homebuyers: How To Make Your Dream a Reality If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home?

Inventory remains very tight. Properties that are priced at market value are receiving multiple offers. Some homes are selling over asking price.

How to Pick a Puppy from a Litter Gain valuable insights on choosing the best puppy for your family. Learn about health, temperament & how to avoid common pitfalls when selecting a new pup!