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The Tax Difference in Second Homes

June 15th, 2018 by tisner

A principal residence and a second home have some similar benefits, but they have some key tax differences. A principal residence is the primary home where you live and a second home is used mainly for personal enjoyment while limiting possible rental activity to a maximum of 14 days per year.10213246-250.jpg

Under the 2017 Tax Cuts and Jobs Act, the Mortgage Interest Deduction allows a taxpayer to deduct the qualified interest on a principal residence and a second home. The interest is reduced from a maximum of $1,000,000 combined acquisition debt to a maximum of $750,000 combined acquisition debt for both the first and second homes.

Property taxes on first and second homes are deductible but limited to a combined maximum of $10,000 together with other state and local taxes paid.

The gain on a principal residence retained the exclusion of $250,000/$500,000 for single/married taxpayers meeting the requirements. Unchanged by the new tax law, the gains on second homes must be recognized when sold or disposed.

Tax-deferred exchanges are not allowed for property used for personal purposes such as second homes. Gain on second homes owned for more than 12 months is taxed at the lower long-term capital gains rate.

This article is intended for informational purposes. Advice from a tax professional for your specific situation should be obtained prior to making a decision that can have tax implications.

By: PatZaby.com

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Kissimmee Florida Real Estate Market Report for May 2018

June 14th, 2018 by tisner

The Kissimmee Real Estate Market Trends Report for 34741 shows 63 homes sold in May 2018 down from 65 in May 2017. The average sales price was $168,552 compared to $183,713 in May 2017 and homes were on the market an average of 33 days, down from 61 days in May 2017.

Kissimmee Florida Real Estate Market Report for May 2018

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Windermere Florida Real Estate Market Report for May 2018

June 14th, 2018 by tisner

The Windermere Real Estate Market Trends Report shows the average sales price was $675,249 in May 2018 compared to $520,697 in May 2017. Homes were on the market for an average of 73 days, down from 77 days last year. Homes sold for 97% of the list price.

Windermere Florida Real Estate Market Report for May 2018

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Celebration Florida Real Estate Market Report for May 2018

June 14th, 2018 by tisner

The Celebration Real Estate Market Trends Report for 34747 shows 166 homes sold in May 2018 compared to 138 in May 2017. The average sales price was $335,844 compared to $281,616 in May 2017 and homes were on the market an average of 116 days, compared to 103 days in May 2017.

Celebration Florida Real Estate Market Report for May 2018

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Seven Easy Home Repairs in Orlando, FL

June 11th, 2018 by tisner

seven easy home repairs in orlando florida

Most homeowners are doing what they can to pinch pennies, and when something goes wrong, the thoughts of calling a repair service can send us into a tailspin for fear of a hefty bill.  Some fixes are simple enough that anyone can DIY them with a little knowledge and supplies; here are seven of them: 

  • Toilet bowl leaks can really add up on your water bill.  There are two common things that cause them:  a leaky flapper, or the fill valve needs replacing.   For less than $20, you can replace either of them.  To get started, check out this information from Today’s Homeowner to test where your leak is and go from there.  The internet is chock full of videos and how-to articles for either fix. 
  • Your beautiful just-refinished wood floors are squeaking, and unless you’re using the noise as a burglar alarm, you can get rid of it with talcum powder.  First, make certain that the squeaking isn’t because of a loose board.  If that’s the case, replace the nails or floor staples.  Still squeaking?  Sprinkle talcum powder over the seams, and rub it in with your fingers or a thin plastic card. Walk over the area, and listen for the noise, and apply more powder if necessary. 
  • It’s laundry day, and you’ve just thrown a load into the dryer, and the drum suddenly stops turning.  The drum belt is easy and inexpensive to replace, thanks to this guide and video from Sears, and no appliance repair service needs to be called!  
  • Replacing light bulbs is easy, right?  What happens if you accidentally break the bulb off at the socket?  Go to the pantry, grab a potato, and cut it in half.  After turning the electricity off at the breaker box, carefully push the sliced side of the potato onto the bulb socket, and once it has a grip, unscrew and remove the broken piece from the fixture.   
  • Your cabinets look great, but you’re having a hard time keeping them closed.  For a few dollars each, you can purchase magnet catches, and install them in no time. 
  • Every now and then, something bumps into the drywall hard enough to create a hole.  No need for a drywall expert to come in for this job.  Lowe’s shows us how to patch the hole, and spend much less than the cost of a repair bill. 
  • Doorknobs take a lot of abuse and eventually need replacing, or maybe you just want to upgrade your door hardware.  Buildipedia offers this how-to video for this simple project–no locksmith required! 

Chances are you take great pride in your home, and want a professional to take care of some things for you.  Sometimes, though, a simple job can be taken care of on your own, so grab your toolbelt, and get to work!  Your wallet will thank you! 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Gardening with Fewer Chemicals in Orlando Florida

June 6th, 2018 by tisner

Gardening with fewer chemicals in orlando fl

When it comes to gardening, going organic can be difficult, especially when there are so many manufactured products to keep weeds and insects at bay. It’s not uncommon knowledge that the fewer chemicals we use in our lawns and gardens, the better it is for everyone.  Follow these tried-and-true tips to get you started on a more natural approach to a healthy garden. 

  • Make sure your garden soil is enriched with natural compost, and one way to do that is with grass clippings!  According to Mother Earth News, a mulch of 1”-2” of cut grass can feed your garden for the season.   
  • Another way to get free compost is saving vegetable scraps from your kitchen. When you’re prepping for dinner, keep the parts you would normally throw away in a small bucket or jar with a lid nearby, and throw it in your compost pile or worm bed. 
  • Speaking of earthworms:  vermicomposting is one very beneficial thing you can do to improve your soil.  Learn how to have your own worm beds from gardeningknowhow.com.  Kids love this project! 
  • The little tags in the cell packs of plants aren’t there for nothing.  They have important and necessary planting information on them.  Put your plants in the right place, in the right amount of sun, and it will reward you with good growth. 
  • When and how you water your garden plays an important part in keeping diseases and pests at bay.  A morning shower with a water hose can rid your plants of nasty aphids.  Watering your plants in the evenings can cause fungi and mildew to grow, and neither is easy to get rid of once they set in. 
  • Learn the difference between detrimental and beneficial insects.  We don’t want to be bitten, but many stinging insects are taking care of the bad ones that are eating up our vegetables.  The Sod God offers some excellent information as well as infographics to help you distinguish between the good and the bad. 
  • Row covers are a great and chemical-free way to keep not only insects away, but veggie-loving birds as well.  As long as they cover your plants completely as they grow, they will provide a barrier between your plants and the bad guys. 
  • If your plants are being taken over by soft-bodied insects like aphids and whiteflies, make your own insecticidal soap–it’s easy with these instructions from Horticulture magazine. 

Whether you’re interested in going completely organic in your gardening, or just trying to cut back on man-made chemical use, it takes knowledge and a little extra work.  Growing a Greener World is an excellent television source for all things natural, and there are many books and magazines on the subject.  Look for sources that have been certified as an organic entity or is written or produced by someone who has been gardening the natural way and has lots of experience.  Reap the rewards of not only a great vegetable harvest, but the rewards of keeping chemicals out of the ground, and our water sources. 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: Mother Earth News

Get a Jump Start on Hurricane Season Prep!

May 30th, 2018 by tisner

Hurricane Season Prep

June 1 marks the official beginning of hurricane season, and everyone, especially homeowners, should be prepared in every way.  Once you’re ready, it’s less stressful when a watch or warning is issued, leaving you time to get a few big jobs done without having to concern yourself with the smaller details. 

  • Check with your insurance agent and ask any questions about your homeowner’s insurance policy so you’ll know what’s covered, and what isn’t.  If you need more coverage, add it to your policy now. 
  • Make sure you have flood insurance, or that your coverage is up-to-date. It takes thirty days for a new policy’s coverage to begin, so don’t wait until a storm is bearing down on you before you purchase. 
  • Plan your evacuation route in case of a mandatory event from your local government.  This is especially important if you live in a new area. Print route maps and keep them handy, or store them in your smartphone’s maps app. 
  • Have a plastic storage tote with lid that contains tarps, light blankets, flashlights, brand new batteries, bottled water, canned food, manual can opener, and a battery-operated radio. Print a list of necessary phone numbers and emergency contacts and place it inside the tote as well, in case you’re unable to keep your cell phone charged.  
  • In case of power outages, inexpensive portable USB chargers can be used to keep your cell phones charged.  Solar chargers are available as well but cost more. 
  • If you don’t have an emergency fund, start one now.  
  • Take a look around your home and make sure gutters are clear, shingles are sturdy, shutters are tight, as well as making sure outdoor additions and buildings are secure.  Make upgrades or repairs if necessary. 
  • Check any trees on your property for hanging or dead limbs, and overhanging limbs that could cause damage.  Have a tree service remove them. 
  • Look out for elderly neighbors and family members.  Ask if they need help getting the big things ready or ask them if they’d like to be included in your family hurricane plan.  They may want to remain independent, but it may be a relief to them knowing they’ll have some assistance a phone call away in time of an emergency. 
  • Don’t allow your vehicle’s gas tank to get below a half tank.  Keep it as full as possible in case of shortages when the time to evacuate comes. 

The Red Cross offers many other tips about being prepared for emergencies, including what to do about your pets and contacting your distant family afterwards.  Waiting until the last minute can create added stress on you and your family.  Don’t get caught in the worst of the storm to realize you forgot flashlight batteries or bottled water.  Take an afternoon to prepare now, and, like a home fire drill, make sure the whole family knows their role in case of an emergency.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: South Florida News Service

Second Guessing Price

May 25th, 2018 by tisner

Imagine a homeowner consulting with their agent about the price to place on their home. The agent suggests that the market data indicates that $200,000 to 210,000 would produce a quick sale by pricing it properly. The owner puts a $210,000 price on the home.76605908-250.jpg

The first person who looks at the home offers $205,000. When the seller receives the offer, he comments that he thinks he priced the home too low and counters for  full price. The counter-offer is rejected, the home stays on the market and at the end of the first month when based on market conditions, the home should be sold, no other offers have been made.

It may be human nature that when an offer is received so quickly, the first thought to come to mind is that it was priced too low. A more appropriate thought might be that it was priced correctly. In some cases, when a home comes on the market, there is increased competition (real or perceived) among the buyers waiting for the “right” home to come on the market. The home can sell for a higher price than if it sits on the market for several months.

There may be stories of sellers who turned down the first offer and ended up receiving a better offer that would net more money. However,  real estate professionals say the first scenario occurs frequently.

The wisdom of experience advises owners to find a real estate professional that they trust and have confidence. Allow that professional to become familiar with your home and compare it to similar homes in the market that have sold recently and ones currently on the market. Determine the demand for homes in the area compared to the inventory. Decide on a price that will allow the home to sell within a relatively short period of time. And lastly, be satisfied if your home sells quickly near the price you put on it.

By: PatZaby.com

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Backyard Getaways in Orlando, FL

May 21st, 2018 by tisner

Backyard Getaways in Orlando FL

Many of us have seen the “she shed” photos on social media, where an outdoor building has been made into an outdoor spot for Mom to unwind–the counter to the basement man cave.  With these ideas, you can take your garden shed, gazebo or covered porch to many levels to provide a place to relax, entertain, or watch the children play in the sprinkler.   

Outdoor Oasis Plan 

  • First, check with your municipal codes for accessory buildings, garden sheds, and see what permits you need to add one to your yard. If you already have one, you’re one step closer to your party hut. 
  • Decide on what will fit in your space, then shop pre-fab shed distributors, Pinterest for DIY material-repurposing ideas, or online for downloadable building plans.  
  • How do you want to use your space?  Will it be an entertaining area, a place to relax, or a low-budget pool house? Make a budget for decorating and extras, and stick to it. 
  • Once you have your building in place, choose your decor and paint scheme:   
  • Beach-inspired colors are bright, and you can include an old surfboard, vintage buoys and signal flags found at tag sales. 
  • Rocking chairs, light colored walls, natural elements, and floral seat cushions make for a country retreat. 
  • Go modern with simple folding chairs, which offer a storage bonus, simple green succulent plants in sleep pots, neutral colors, and a sleek bar of polished wood. 
  • Send guests a message of fun in the sun with a palm-frond roof, tiki torches, lots of wood elements and an open-air bar for a tropical feel. 
  • Create a small pool house with space for lounge chairs, as well as hardware for hanging clothes and towels, and storage for pool toys.   

Outdoor Entertaining with Conveniences 

  • Lighting can be tricky if you don’t have electricity running to your outdoor structure.  If you decide to fully wire the place, have an electrician take care of this aspect.  You want it well-lit, but not a shining beacon–soft lighting is perfect for Summer night entertaining. 
  • Give self-charging solar lights a try.  LED’s associated with solar lighting have come a long way, and can be bright without being harsh. 
  • Battery-operated LED lights are an excellent alternative, and come in many designs to complement your decor.  Strings of Chinese lanterns and vintage-style bulb covers can be found in many styles in home centers and online. 
  • You may not want to deal with the cost of a hiring an electrician to wire your new party pad, but using solar power on your small building is easier than you may think.  Home improvement centers have small solar kits that you’ll need to light the night without adding to your utility bill. 
  • Solar-powered ceiling fans for outdoor use are easily found online, as well as stand-alone units.  Moving air will keep you and any guests comfortable.   

With so many products and ideas available at our fingertips, thanks to the internet, an outdoor gathering place can be outfitted as simply or luxuriously as we want–there’s no need to break the bank.  Create a haven that fits the needs for your family, and make fun-filled Summer memories without leaving your backyard! 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: 888tuffshed.com

Windermere Florida Real Estate Market Report for April 2018

May 10th, 2018 by tisner

The Windermere Real Estate Market Trends Report shows the average sales price was $499,475 in April 2018 compared to $464,453 in April 2017. Homes were on the market for an average of 61 days, down from 90 days last year. Homes sold for 98% of the list price.

Windermere Florida Real Estate Market Report

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

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