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Mooers Realty Blog

Latest Real Estate News, Local Community Area Events From Mooers Realty.

Selling Inherited Homes, Property In Maine, The Estate And Withholding Tax.

Selling Inherited Homes, Property In Maine, The Estate And Withholding Tax.
Inherited homes in Maine, what to do with the real estate now that Mom and Dad, or whichever family member is gone?
 
And when the time finally arrives when the loved one that owned and cared for the place won't be using the property in Maine any more.
 
Here is needed information on estate taxes in Maine as you delve into the homework stage of how to handle best the inheritance puzzle.
 
Lots to consider as you go through the important papers tucked away in the antique writing desk. To select an attorney, get everything in probating an estate underway. Effective January 1, 2016 there were changes in the Maine estate tax regulations. The rules to play by most significant change caused the Maine estate tax exemption increase to be equal to the Federal estate tax exemption.  loon in maine photo
 
The current Maine estate tax exemption of $2,000,000 means any Maine estate for a person who died in 2015 valued at less than $2,000,000 is exempt from Maine estate tax.
 
The Federal exemption level in 2015 was $5,430,000. The figure rises each year at the rate of inflation.
 
In 2016 both the Federal and Maine estate tax exemption increased to $5,450,000. Consult a qualified tax expert when running the numbers and to get the maximum due you in the inheritance of an estate and for advice on how to estate planned the best route possible in your own personal unique situation.
 
Also, what about that 2.5 % withholding tax on capital gains in Maine real estate sales?
 
Maine dot gov weighs in on the withholding tax details for your property sales if you are not a resident of Maine. And the sale price is $50,000 or over on the transfer paperwork that accompanies the real estate title deed carried up the court house steps, trotted into the registry of deeds. For recording, put on record for the World to see in the switch to a new owner(s).
 
So back to the Maine real estate end of the inheritance. You have three choices of what happens to the inherited real property in Maine. If you and your family inherited a home in Maine, one or all of you can move into it yourself and keep it. Use it for vacations, taking turns like a time share when time for some rest and relaxtion is carved out of the daily grind.
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Real Estate Lifestyle Property Listing Searches In Maine.

Real Estate Lifestyle Property Listing Searches In Maine.

Real estate lifestyle property listing searches in Maine are hot blog posting topics.

So we roll up the sleeves on both arms. To one by one hunt and peck blog posts that are fashioned to save time, money, to educate. And then attach to these fresh blog posts the right photos that tie in with the subject matter. Salt and pepper season them with the helpful links that go along with the hobby interests or uses for the property listing for sale in Maine. Matchmaking the real estate with right current property buyer out in the online audience.mainefallcolors3

A lot of the interest in our low cost real estate listings is from folks not needing a job.

Some already retired in the relocation to Maine. But more and more are in the category of telecomuters.

That are telecommuting to the online job outside Maine that does not get left behind in the packing up and heading north out of whatever state or country they last had on the upper left hand corner return address on their correspondence.

The employment in Houlton Maine becomes the job that comes packed up and right along with the personal treasures, all the furniture, the trinkets and nick nacks. That the property buyer throws in the trunk, tosses and ties down up on the roof with bungie cords. Or stashes in back of them to pull in the attached travel trailer. Hauled along like a shadow close behind as they pass over the big green bridge to the south heading north entering Vacationland. Ready for the next life adventure.

Some of the slices of real estate buyers are from the retirement pie portion of property buyers. The folks making the decision to invest in a piece of property here in Maine to use full or part time. The latter are snow birds. Often carrying golf clubs and chasing the white dimpled ball around courses like they are still working winters away from Maine in the sunny south where no snow shovel needed.

But back to the real estate lifestyle property listing searches in Maine.

The houses with large areas for a media room, for setting up a home recording studio for music making. Or to finally be able to have enough room for setting up a wood working shop. Or with a garage attached or detached big enough to take care of the family pair of vehicles for storage but also go above and beyond. To house the restoration of whatever needs it in an area for the old antique cars, boats, farm tractors or whatever collection trips the trigger of the real estate buyer.

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Jobs, Employment, Work In Houlton Maine 04730

Jobs, Employment, Work In Houlton Maine 04730

The employment picture, do you need a job, work in Houlton Maine to pay the bills?

To keep the wolf from your door. Food on the table, to meet your financial obligations that depend on a job. Earning your keep is less of a hastle when you get independence from debt though. Living without monthly bills is one of the major reasons that draws folks to Northern Maine's Aroostook County is a common response to what attracted you to this part of Vacationland?maine-woods-work-photo

Renewal resources like burning wood from your own land if a homesteader replaces being energy dependent. Knowing what you eat, feed your family is pretty near and dear to Mainer's who have a patch of dirt and farmstead a simpler life on or off grid.

So back to jobs, employment, work in Houlton Maine.

Do they grow on trees and make your head spin trying to decide which one is best. No. Like the lower priced real estate listings, the salaries and number of job options to further your career are limited. Less people, fewer jobs and highly skilled employment choices in Houlton Maine are scarce.

Some folks bring their job with them and work online in Northern Maine. Others what to change what they have been doing and don't want the stress of chasing the dollar to make ends meet that high cost city living demands.

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Stop Making The Landlord's House Payment, How Bad Do You Want A House?

Stop Making The Landlord's House Payment, How Bad Do You Want A House?

The rent rut, not liking it but how to climb out of it?

It can become a deep groove with steep sides. Is the curse of those that want to climb up and out into the ranks of successful first time home buyers for a Maine house.

Paying too much for rent, the extras you shell out in a less than perfect property unit means it is hard to put together the nest egg.

Which is the fuel to begin the process of the shift from renting to owning. For the key to the first time home buyer's home sweet home. A starter home on the real estate dart board because like a car, everything in life, you work your way up in small rural Maine.birds-nest-home-photo

I am living proof of how great the Maine State Housing First Time Home Buyer's Program really is for securing a home loan mortgage.

But I hear it daily. The renter who says they can more than afford the monthly house payments on this, that property listing. But a bank says differently because their debt ratios are too high.

The renter figures "I am paying more than the house payment now and am not under water, can pay my bills every thirty days. So I should be in the front of the line to buy that first house".

But the home loan mortgage underwriter guidelines says no dice, denies the home lending request until a lot of little things change.

Too much going out, none put away to pay those closing costs or even consider having a sizable down payment to wheel and deal with to get a mortgage approval for a Maine home loan.

The other problem is how easy it is to sign up for a new credit card and get a big discount off your first purchase using the plastic.

And for a car loan, easy peasy. Just sign here and drive off the lot. With a home loan, it is a little more involved, the stakes are higher and they can not tow truck your home like a car that suddenly is not being paid for and has to be dragged back to the car lot.

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The Debate On Listing Property, Holiday Marketing Real Estate For Sale.

The Debate On Listing Property, Holiday Marketing Real Estate For Sale.

When a seller knows a real estate sale is needed. When a buyer gets the idea that he or she, they need a property to purchase. Regardless of weather, which holiday is approaching or now happening on the kitchen wall calendar, get the place listed so buyers see them on real estate radar.

To give them consideration for factors like if the financing is obtained, if their house sells first, if the job transfer paperwork down state or across the country really gets stamped and approved.

A lot of contingencies in the perfect timing to buy and sell. Life does not stop for a little snow or because a man in red velvet, white fur with flying reindeer is on his way if you were moderately good this year. houltonmainechristmas

The property listing put online for all to see if it has a full motion video with audio to help the show and tell tag team of two senses.

Will get the buyer not quite ready but getting there to sneak a peek. And if they like what they see, it is off to the bank, or getting his place listed for sale is one at a time is the only way he can financially handle mortgages.

Spread the word way way beyond the local turf too.

Because the results of real estate marketing take time to bloom. And no advertising, no promotion is like flirting with a girl across the gym in the dark. Poor results because she has no idea what you are thinking. Does not pick up on the signal. And make it go both ways. Hopefully.

So this news flash just in about listing in winter, over the set of holidays.

Real estate sellers who want a sale should have their places online, advertized full throttle because less property owners do in the winter months. So less places to sit in the real estate musical chairs means more attention. Especially if the possession date is not a long delayed on.

The seller who says sure, I can move out so you can buy and move in has a distinct advantage selling their real estate listing.

Job transfers like coaches being replaced and rotated at the end of the playing season happen around the first of the year. If your place is listed, online, it gets gawked at, found online and in print and the buzz is about your place.

Unless, oh yeah, you are not online, did not list or yanked your listing off the market. For like a fire fly, on and off. Confusing buyers when it is and wondering why it is not again. farm houton maine photo

Changing the price of the real estate up and done causes the same stratching the head in wonderment out in the real estate audience.

January is a big month for relocation shuffling. And in the case of just land sales, waterfront real estate vacation properties, those type of listings get more attention.

When buyers do ease back during the holidays. And reflect on life at the Thanksgiving table or Christmas cocktail party. And decide now if the time to serious begin looking into a real estate listing in Maine that improves their life. That are always low cost, a high return investment that provides lots of enjoyment.

Home buyers have more time away from work during the holidays to look at property too. And the property decked out with Christmas lights, holiday cheer sparkle, shine brightest. Of course as the holiday passes, the real estate again needs rotating in new images if the place is still waiting for a buyer as spring approaches.

But back to listing during the holidays, the winter time end of the year means you have the jump on the rest of the sellers. Who believe just hold your houses, better wait until summer.

Because everyone knows real estate only sells in summer, a little in the spring and fall and never ever in Winter right?

We have the property sales from 37 years of listing and selling Maine real estate to prove otherwise.

The legal and banking professions ease up during the holiday work load so property sales go down the real estate conveyor belt fast, easier. Less pushing and shoving, competing with other property listing sales in the pipeline. All kinds of reasons to not pull the plug and stop the marketing of already listed properties too.

When that property goes dark online, the buyer who has been watching it like a hawk like others trying to get ready to buy in the background with personal loose ends.

They think geesh, darn, must have sold. Or is no longer for sale. The dream gets shaken and they wake up to look at what else is online. Other properties, not yours any more. What's that expression about strike while the iron is hot? Well not if someone tripped over the plug in cord or intentional stopped the flow of juice and things go stone cold.flickrtemplate0

And if you are a seller that entertains, is stressed and over extended during the holidays.

And can not think about staging the place, handling showings.

The news is that videos are open house on demand. Are the best your property will ever look because you did not start the blinking red light on the video camera recorder until everything was just so.

You have control of the property appearance in a real estate video. When no notice and just dropping in happens, not so much. Toilet seats are up, beds not made, and the cat box. Not so tidy that one day wouldn't you know it.

List your home, keep the property for sale marketing during winter months.

Make the possession date as flexible as you can and showings the least restrictive. But with real video, the place is being shown 24/7/365. So relax and happy holidays. Making plans for when the property listing does sell and you can move on with your life to the next landing spot.

Never hurts to look, browse listings right? To be ready.

Don't have to be a boy scout to know that. Sellers needing another home or piece of real estate look online all year round. That's why a place for sale should not be kept a secret or delayed in marketing to the largest audience possible and available on whatever device or location or weather of the real estate buyer.

I'm Maine REALTOR Andrew Mooers, ME Broker

207.532.6573 | This email address is being protected from spambots. You need JavaScript enabled to view it. |

MOOERS REALTY 69 North Street Houlton Maine 04730 USA

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