Hollywood Hills Homes Search
Hollywood Hills Disclosure Rule
Tell All is definitely the rule for anyone who is selling Hollywood Hills real estate in today’s market. Let the Buyer Beware can easily come back and bite you in a delicate spot—your pocketbook.
Today, those selling a home or any Hollywood Hills are expected to disclose all known material defects that are not readily apparent to the buyer. A Material Defect is usually a physical condition that would affect a buyer’s decision to purchase the home or what price to pay for the home. A leaky roof is definitely a Material Defect. If a Hollywood Hills seller tries to disguise the leak by painting the interior ceiling and walls without fixing the leak, the truth will come out the next time it rains. Chances are the first call the buyer makes will be to his attorney.
Hollywood Hills Disclosure Rule
If you are contemplating the purchase of an existing home or any Hollywood Hills, I strongly recommend that you utilize the services of a trusted home inspector. The final purchase of any home should be based on obtaining a favorable home inspection. Hollywood Hills is no exception to this rule.
What if the home inspector discovers a problem? That happens and as long as it happens before the sale is final the seller can fix the problem or the buyer who agrees to take the property as is can negotiate the price. Any questions regarding Hollywood Hills, just give me a call.
Bitten by the Hollywood Hills Home Improvement Bug?
Money isn’t everything however so that if the most important consideration for remaining in your Hollywood Hills home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Hollywood Hills house torn up for weeks at a time makes your blood run cold, it really doesn’t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.
Buying Hollywood Hills Real Estate...Will it Pay?
A frequent question from prospective homebuyers relates to building home equity. Hollywood Hills buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the home’s market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00. This is one way of building your Hollywood Hills home equity but there is more you can do.
Green Remodeling Your Hollywood Hills
If you are planning to remodel your Hollywood Hills, keep home resale in mind and consider going green. Green remodeling is becoming more popular as homeowners consider health issues, skyrocketing energy costs and Earth’s natural resources. And, when it comes time to sell your home, your energy efficient and Earth saving remodeling may help you sell your Hollywood Hills quickly and for top dollar.
The Benefits of Selling Hollywood Hills
As you know, you are allowed to sell your Hollywood Hills principal residence once every two years and exclude up to $250,000 ($500,000 for a married couple) of the gain of the sale on your Federal income tax. Please note: This is not a once in a lifetime tax savings and you don’t have to be any certain age or buy a more expensive property. If you meet the two-year residence test you can sell your principal residence every two years if you are so inclined and the market cooperates. But this tax saving does not affect rental property unless you convert the rental to your personal residence, live in it for two years and then sell it.
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