Thinking about buying or selling a home in this market can be very intimidating. Negotiations begin the second you step foot into a prospective home and sometimes don’t conclude until after a real estate transaction closes. Maneuvering the ins and outs of financing, offering negotiations, inspections, repairs, title issues and constantly changing guidelines is a full-time job. Purchasing a home is a huge investment. On the flip side, selling a home can be taxing and can leave you worrying about pricing your home correctly, an uphill battle we are all fighting as prices continue to increase and more buyers flood the local Southeast Idaho market.
Advocating for home ownership and working with prospective buyers and sellers is what Realtors do, in most cases, seven days a week. We are required to enhance our skills by staying up to date with new laws, loopholes, ethical concerns, and contracts. We are required to hold errors and omissions insurance to safeguard our clients from issues like non-disclosure. Realtors are up to date on new lending requirements on all applicable loan types, credit scores and debt to income ratios. We are involved in local, state and national politics that impact one’s ability and ease of owning a home.
Most recently Idaho Realtors has worked diligently to get legislation passed that will allow first time home buyers to open a tax-free savings account. A first-time home buyer can save up to $15,000 annually in a tax-free savings account not to exceed $100,000. The money can be used as a down payment and can be gifted. Certain rules do apply, so consult your realtor on the specifics.
As Idaho Realtors continue to pave the way to affordable housing options, keeping your property taxes and extra fees low with political contributions known as PAC money, our community knowledge and continued educational requirements are what keep the integrity of the real estate industry.
Always consulting a realtor is imperative to the success of a real estate transaction and without the help of a licensed professional you could be leaving thousands on the table. Don’t let your real estate education impact your bottom line.
Click here to read more of the August issue of Idaho Falls Magazine.