Twelve Tips for Hiring a Remodeling Contractor

Get at least three written estimates Get references and call to check on the work. If possible, go by and visit earlier jobs. Check with the local Chamber of Commerce or Better Business Bureau for complaints. Be sure that the contract states exactly...

Remodeling That Pays

Upgrading your home is always appealing, but which enhancements really get you a good return for your money when it’s time to sell? A 2002 survey by Remodeling Magazine and REALTOR® Magazine has the answer. To see the complete article, visit...

Does Moving Up Make Sense?

How much equity do you have in your home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of paying a mortgage, but if you’ve owned your home for a number of years, you may have...

Understanding Capital Gains in Real Estate

When you sell a stock, you owe taxes on your gain—the difference between what you paid for the stock and what you sold it for. The same is true with selling a home (or a second home), but there are some special considerations.  How to Calculate Gain  In real...

What is Appraised Value?

It’s an objective opinion of value, but it’s not an exact science so appraisals may differ.  For buying and selling purposes, appraisals are usually based on market value—what the property could probably be sold for. Other types of value include insurance value,...