Our Difference

The Secret To Selling This Spring: Start the Prep Work Now Spring is the busiest season in the housing market. It’s the time of year when buyers are most active – that means it’s when homes sell faster and for top dollar. If you’ve already got a move on your mind, why not list this spring and take advantage of the added buyer demand? Since spring is just around the corner, now’s the time to start getting your house market-ready. You’ve got just over a month to do the prep work. And while that may sound like a decent amount of time, it’s going to go by quickly. And you won’t want to rush through this important task – especially this year. The Right Repairs Will Matter More This Spring Right now, two things are true. There are more homes on the market than there have been in years. And buyers are being extra selective. That combination means you need to invest some time and effort in making strategic repairs. And many homeowners already have a jump on this work. In the 2025 Outlook for Home Remodeling, Carlos Martin, Director of the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, explains: “. . . homeowners are slowly but surely expanding the pace and scope of projects compared to the last couple years.” And the most common projects they’re tackling are replacing water heaters, HVAC units, and flooring. Energy efficiency is a key consideration too, based on home improvement data from the Census. What To Prioritize as You Plan Ahead But just because that’s what other homeowners are doing, it doesn’t mean that’s what you have to tackle. Think about what you’d want to see if you were a buyer. Focus on quick wins that are easy to knock out with the time you have – but, don’t ignore key repairs, especially ones you think could turn off buyers. While big-ticket items like replacing an old roof or outdated flooring may seem daunting, they can pay off – especially if you focus on projects with the best return on investment (ROI). An agent’s expertise is key in narrowing down your list to what’s actually worth it. They know what buyers in your area want and they also have data like this report from Zonda to guide you on which updates have the best ROI (see green in the graph below): That’s why it’s so important to talk to a local real estate agent before you dive into any repairs. Bankrate puts it best: “As a seller, it’s smart to be prepared and control whatever factors you’re able to. Things like hiring a great real estate agent and maximizing your home’s online appeal can translate into a smoother sale — and more money in the bank.” It’s not too early to partner with an agent. By starting now, you’ve still got time to space out the work and find any contractors you need to get the job done. If you wait until spring to roll up your sleeves, you risk running out of time – and that means your house may be overshadowed by others who are more buyer-ready. Bottom Line If you’re planning to sell this spring, it’s time to start tackling your to-do list. But, before you get started, let’s connect. That way you can make sure you’re spending your time and budget on projects that’ll pay off in the long run. Send me a list of what’s on your to-do list, and we can prioritize them together.

Are You Asking Yourself These Questions About Selling Your House? Some homeowners hesitate to sell because they’ve got unanswered questions that hold them back. But a lot of times their concerns are based on misconceptions, not facts. And if they’d just talk to an agent about it, they’d see these doubts aren’t necessarily a hurdle at all. If uncertainty is keeping you from making a move, it’s time to get the real answers. The ones you deserve. And to take the pressure off, you don’t have to ask the questions, because here’s the data that answers them. 1. Is It Even a Good Idea To Move Right Now?  If you own a home already, you may be tempted to wait because you don’t want to sell and take on a higher mortgage rate on your next house. But your move may be a lot more feasible than you think, and that’s because of how much your house has likely grown in value. Think about it. Do you know anyone in your neighborhood who’s sold their house recently? If so, did you hear what it sold for? With how much home values have gone up in recent years, the number may surprise you. According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), the typical homeowner has gained $147,000 in housing wealth in the last five years alone. That’s significant – and when you sell, that can give you what you need to fund your next move. 2. Will I Be Able To Find a Home I Like?  If this is on your mind, it’s probably because you remember just how hard it was to find a home over the past few years. But in today’s market, it isn’t as challenging. Data from Realtor.com shows how much inventory has increased – it's up nearly 25% compared to this time last year (see graph below):  Even though inventory is still below more normal pre-pandemic levels, it’s improved a lot in the past year. And the best part is, experts say it’ll grow another 10 to 15% this year. That means you have more options for your move – and the best chance in years to find a home you love. 3. Are Buyers Still Buying? And last, if you’re worried no one’s buying with rates and prices where they are right now, here’s some perspective that can help. While there weren’t as many home sales last year as there’d be in a normal market, roughly 4.24 million homes still sold (not including new construction), according to the National Association of Realtors (NAR). And the expectation is that number will rise in 2025. But even if we only match how many homes sold last year, here’s what that looks like. 4.24 million homes ÷ 365 days in a year = 11,616 homes sell each day 11,616 homes ÷ 24 hours in a day = 484 homes sell per hour 484 homes ÷ 60 minutes = 8 homes sell every minute Think about that. Just in the time it took you to read this, 8 homes sold. Let this reassure you – the market isn’t at a standstill. Every day, thousands of people buy, and they're looking for homes like yours. Bottom Line When you’re ready to walk through what’s on your mind, I have the answers you need. And in the meantime, tell me: what’s holding you back from making your move?

How to Avoid Capital Gains Tax When Selling Your Home Selling a home can be one of the most exciting financial decisions you make. However, the excitement can quickly fade when you realize you might owe a hefty capital gains tax on the profit. The good news? Many homeowners can significantly reduce or even avoid paying capital gains tax with the right strategies. Here’s what you need to know: What Is Capital Gains Tax? Capital gains tax is a tax on the profit you make when you sell an asset, like your home. The profit is calculated as the difference between your home's selling price and its purchase price (plus certain expenses like home improvements and selling costs). Fortunately, the IRS provides specific exemptions for homeowners, and understanding these rules can help you keep more of your hard-earned money. Key Strategies to Avoid Capital Gains Tax 1. Take Advantage of the Primary Residence Exclusion The IRS offers an exclusion for homeowners who meet specific criteria. If you’ve lived in the home as your primary residence for at least two out of the last five years, you may qualify to exclude up to: $250,000 of profit if you’re single $500,000 of profit if you’re married and file jointly This exclusion can save you a significant amount of money. For example, if you’re married and sell your home for a $400,000 profit, you won’t owe any capital gains tax as long as you meet the residency requirements. 2. Keep Detailed Records of Home Improvements Did you add a deck, remodel the kitchen, or replace the roof? Major improvements to your home can increase your cost basis (the original price you paid for the home), which reduces your taxable profit. Be sure to save receipts and documentation for all qualifying improvements. 3. Consider a 1031 Exchange If you’re selling an investment property and plan to reinvest the proceeds into another property, you can use a 1031 exchange to defer capital gains tax. While this doesn’t apply to primary residences, it’s a valuable tool for real estate investors. 4. Time Your Sale Strategically If your income is unusually high in a particular year, selling your home might push you into a higher tax bracket. Consider waiting until your income level decreases to minimize your overall tax liability. 5. Convert Your Second Home Into a Primary Residence If you have a vacation home or second property, living in it as your primary residence for at least two years may allow you to qualify for the primary residence exclusion when you sell. This strategy requires careful planning but can be a great way to reduce capital gains tax on a second property. 6. Leverage Tax-Free Gifts If the property has significant gains, gifting portions of the property to family members or beneficiaries may help reduce the tax burden. However, this is a complex strategy and should be discussed with a tax professional. When You Might Owe Capital Gains Tax While the strategies above can help you avoid or minimize taxes, there are situations where you may still owe capital gains tax. Common examples include: Selling a property you’ve owned for less than a year Failing to meet the two-year residency requirement Selling a second home or investment property without utilizing a 1031 exchange Consult a Professional Tax laws are complicated, and every homeowner’s situation is unique. To make sure you’re maximizing your savings and staying compliant with IRS regulations, consult a tax professional or financial advisor. They can help you determine which strategies apply to your situation and how to implement them effectively. Final Thoughts Selling your home doesn’t have to come with a significant tax burden. By taking advantage of exclusions, documenting home improvements, and planning your sale strategically, you can avoid or minimize capital gains tax and keep more of your hard-earned profit. If you’re considering selling your home and want expert guidance, Jason Asch and My Home Team with eXp Realty would love to help. With over 30 years of experience in Northern Kentucky real estate, we provide consultations, marketing strategies, and a client-first approach to ensure a seamless and profitable sale. Contact us today if you have any real estate-related questions or want to get started in the home buying or selling process.