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7 Beale St Quincy, MA 02170

Granite Group Realtors

353 Southern Artery, Quincy, MA 02169
617-773-2020 | Info@GraniteGroupRealtors.com


Posted by Granite Group Realtors on 5/3/2020

Photo by Dave Frisch from Pexels

If you've inherited a house you'd rather not live in, here are some things to consider—before you accept it. Before we get to the selling or renting part, calculate the cost of:

  • Repairs and renovations.
  • Any debt that would pass to you with the home.
  • Annual property taxes.
  • Yes, you may decline your inheritance if it's too burdensome to accept, as long as you're not already named on the deed, and as long as you meet applicable deadlines for submitting a notarized disclaimer of interest form. 

    Now let's look at selling or renting.

    1. Selling an Inherited Home Can Produce High Tax Savings. 

    The federal tax treatment of an inherited home, when sold, can be highly supportive of a deceased homeowner's loved one or family. 

    Under IRS stepped-up cost basis rules, you may sell without paying tax on the gains that accrued since the deceased homeowner first bought the house. You'll pay capital gains tax only on any increase in the property's value between the time you inherited and the time you sold. These savings alone can be a great gift to you. 

    Inheritance taxes are not a major factor for most homes, and that factor is easily checked.

    2. Working Out a Shared Inheritance Commonly Means Selling.

    Are you one of several beneficiaries? Does everyone agree on what to do? One sibling may wish to sell. Another might want the house. These factors typically mean someone will sell their inherited interest.

    Selling after a loved one has passed away is quite often the best decision for all concerned. It relieves family or other loved ones of the costs of repairs and upkeep, utilities, taxes and insurance. It also ensures that everyone receives an equal share of the gift.

    3. You Could Have a Choice of Which House to Sell or Rent. 

    If you inherit a free and clear title, you can move into your inherited home, and enjoy it without debt, while selling your current home. Be sure to use the time when the home is in probate to speak with your real estate agent about preparing the home for sale.

    Renting out the house for investment income is another option. Your real estate agent can check for any zoning restrictions and offer you further pointers.

    Tip: If you rent out the home it won't be a primary residence, so it won't get the capital gains tax benefit when you ultimately sell the home. Yet certain rental property spending is tax-deductible, and rent-related income has a low tax rate.

    Need Advice to Fit Your Situation and Today's Market? We're Here to Help.

    Inheriting real estate can put a lot on your plate. Your real estate agent can advise you step by step, offering indispensable knowledge when you need it most. 





    Posted by Granite Group Realtors on 4/5/2020

    If you plan to sell your home, it may be helpful to prepare for a difficult negotiation with a homebuyer.

    Although your home may be in great shape and you've set a fair price for it, there are no guarantees that you'll be able to avoid a long, complex home selling negotiation. However, a home seller who prepares for a difficult negotiation now may be better equipped than others to remain calm, cool and collected throughout the home selling journey.

    Now, let's take a look at three tips that home sellers can use to get ready for a difficult negotiation.

    1. Assess the Housing Market Closely

    A home seller who sets a competitive price for his or her residence may be able to avoid a complicated home selling negotiation entirely.

    To determine a fair price for your house, a property appraisal is ideal. During this appraisal, a property inspector will evaluate your home's interior and exterior and help you identify any problem areas. Then, you can complete assorted home improvement projects and price your house accordingly.

    Furthermore, it is important to assess the prices of comparable houses in your area. With this housing market information at your disposal, you can enter a home selling negotiation with data to support your arguments.

    2. Understand Your Home Selling Goals

    How a home seller approaches a negotiation may vary based on his or her goals.

    For example, a home seller who needs to move out of a house as soon as possible may be willing to go above and beyond the call of duty to satisfy a property buyer's requests. By doing so, this home seller can speed up the property selling cycle.

    On the other hand, a home seller who can afford to be patient may be unwilling to budge on various homebuyer requests.

    Consider your home selling goals closely before you enter a negotiation with a homebuyer. And if you feel uncomfortable, you can always walk away from a negotiation and reenter the housing market.

    3. Focus on the End Results

    A home selling negotiation can become contentious, but it is important to remember the end goals of this negotiation.

    Ultimately, a successful negotiation will meet the needs of both a property seller and buyer. If a negotiation heavily favors a homebuyer, a home seller should be ready to exit the negotiation.

    A home selling negotiation can be stressful, and you should be ready to take breaks as needed. For example, spending a few minutes meditating or walking outdoors may help you clear your head and reenter a home selling negotiation with a fresh perspective.

    Lastly, if you want additional support, real estate agents are happy to help you. A real estate agent knows what it takes to negotiate with homebuyers and will do everything possible to ensure all parties involved in a negotiation get the best results.

    Take the guesswork out of a home selling negotiation use these tips, and you can prepare for a difficult negotiation before you add your house to the real estate market.




    Categories: Uncategorized  


    Posted by Granite Group Realtors on 1/19/2020

    A buyer's market can challenge even the most diligent home seller. Fortunately, we're here to help you stir up plenty of interest in your house, regardless of the current housing market's conditions.

    Now, let's take a look at three tips to help you get ready to sell your residence in a buyer's market.

    1. Assess the Housing Market

    You know a buyer's market favors homebuyers over home sellers, but you still have no idea how this market operates. Fortunately, if you allocate time and resources to learn about the local real estate sector, you'll be better equipped than ever before to maximize the value of your home.

    Take a look at the prices of recently sold houses in your city or town. That way, you can see how long these homes are generally available before they sell. You also can examine the sold prices of these houses to better understand how you should price your residence.

    Furthermore, you should assess the prices of available houses in your city or town that are similar to your own. This housing market data can help you establish a competitive price for your residence from day one.

    2. Perform a Home Inspection

    A home inspection commonly is performed after a seller accepts a buyer's offer on a house. However, if you perform an inspection before you add your residence to a buyer's market, you can take a proactive approach to address various home problems.

    During a home inspection, a property expert will examine your residence and detail his or her findings. You then can use the home inspection results to prioritize home improvement projects and upgrade your residence. As a result, you can enhance your house and find ways to differentiate it from the competition.

    3. Consult with a Real Estate Agent

    Selling a home in a buyer's market is exceedingly difficult, especially for those who choose to work alone. Thankfully, real estate agents are available to guide you along the home selling journey and ensure you can achieve the optimal results.

    By hiring a real estate agent, you can receive extensive assistance at each stage of the home selling journey, even in a buyer's market. First, a real estate agent will learn about you and your home, as well as your home selling goals. This housing market professional then will offer recommendations to help you enhance your home and ensure it stands out to potential buyers. Next, a real estate agent will list your residence and host open house events and home showings. And if a buyer submits an offer on your house, a real estate agent will help you review this proposal and make an informed decision.

    When it comes to selling a home in a buyer's market, there is no need to worry. Take advantage of the aforementioned tips, and you can separate your residence from the competition and boost the likelihood of a profitable home sale.




    Categories: Uncategorized  


    Posted by Granite Group Realtors on 11/24/2019

    A seller's market provides many opportunities for those who plan to list a residence in the near future. If you know how to capitalize on a seller's market, you may be able to quickly and effortlessly sell your house and maximize your property sale earnings.

    Now, let's take a look at three tips to help you get the most out of a seller's market.

    1. Analyze Your Home's Strengths and Weaknesses

    It may be beneficial to conduct an inspection prior to adding your house to a seller's market. With an inspection report in hand, you can assess your residence's strengths and weaknesses. Then, you can perform home repairs and upgrades and boost the likelihood of getting the best price for your residence.

    In addition, you may want to complete a home appraisal. If you receive an appraisal report, you can analyze a property valuation and use this information to establish an aggressive initial asking price for your house.

    2. Craft an Engaging Home Listing

    A home listing typically plays a pivotal role in the house selling journey. If you devote time and resources to create an engaging home listing, you should have no trouble stirring up lots of interest in your home in a seller's market.

    As you craft a home listing, it may be a good idea to evaluate the buyer's perspective. If you understand what separates your home from comparable residences in your city or town, you may be able to find innovative ways to differentiate your house listing from all others.

    It often helps to include high-resolution images of your home in your listing too. You also should incorporate accurate details about your home into your listing to help buyers determine if your residence matches or exceeds their expectations.

    3. Work with a Real Estate Agent

    Selling a home sometimes is tricky, regardless of the current housing market's conditions. Lucky for you, real estate agents are available who can help you achieve the optimal results in a seller's market.

    A real estate agent knows what it takes to sell a residence in any location, at any time. First, he or she will create a personalized home selling strategy designed to help you accomplish your desired goals. A real estate agent next will put this plan into action and promote your residence to potential buyers. If you receive an offer to purchase your house, a real estate agent will help you determine whether to accept, reject or counter this proposal.

    Furthermore, a real estate agent will help you finalize a home sale. He or she will offer tips and recommendations to help you prepare for a home closing and respond to any of your concerns or questions. Plus, a real estate agent will keep in touch with you as your home closing date approaches to help you alleviate stress.

    There are lots of things you can do to capitalize on a seller's market. Thanks to the aforementioned tips, you can take advantage of a seller's market and seamlessly navigate the home selling journey.




    Categories: Uncategorized  


    Posted by Granite Group Realtors on 9/15/2019

    Let's face it clutter is an eyesore that all home sellers can live without. However, removing clutter before you list your house may prove to be difficult, particularly for those with limited time and resources at their disposal.

    Fortunately, we're here to help you streamline the decluttering process. That way, you can speed up the process of improving your house's appearance and get your residence show-ready.

    To better understand how to effectively declutter your home, let's take a look at three best practices for decluttering:

    1. Organize Your Belongings

    Old electronics, broken exercise equipment and other items can take up lots of space in your home. If you take a look at all of your belongings, you can differentiate clutter from items that you'd like to keep.

    If you haven't used an item in several years or an item simply takes up space in your house, this item likely is clutter. As such, you should eliminate this item from your premises as soon as possible.

    On the other hand, items that you use regularly or items that have sentimental value may prove to be keepers. With these items, you should store and maintain them properly to reduce the risk of deterioration.

    2. Get Rid of Items That You No Longer Need

    There may be a wide range of clutter scattered throughout your house. Although your first instinct might tell you to throw out excess items, it is important to consider whether these items could be sold or donated.

    Even though a particular item no longer serves your needs, you may be able to sell this item to the highest bidder. Thus, if you post an item online or host a garage sell, you could earn extra cash by selling your clutter.

    In addition, many charities will accept items that you no longer need. If you have excess items that are working properly, reach out to local charities, and these organizations may be able to pick them up at your convenience.

    3. Consult with a Real Estate Agent

    If you plan to list your home in the next few weeks, consulting with a real estate agent is ideal. This housing market professional can offer expert decluttering recommendations and help you get your house ready for the real estate market.

    Typically, a real estate agent will meet with you, evaluate your house and learn about your home selling goals. He or she also will explain the home selling process and ensure you know what to expect before you list your residence.

    In most instances, a real estate agent will set up home showings and open houses, notify you about offers on your house and provide various home selling recommendations and suggestions. Plus, if you ever have questions about decluttering your home or other home selling topics, a real estate agent can provide immediate answers.

    Simplify the process of decluttering your house use the aforementioned tips, and you can remove clutter from your residence in no time at all.







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