Top 10 Things New Homeowners Forget

 

Did you know that there is actually a "Top 10 List" of things people forget when making that big move? This list comes to you courtesy of Mayflower Moving Service and here at Adams Burchett, we think it's missing an item or two. In addition to the list below, which we re-numbered 3-12, we find that our clients still forget the following 2 items most of all, even though we remind them right before closing.

1. Put in a change of address with your local post office so your mail goes where you go.

2. Turn on the utilities at your new home and turn off your utilities at your previous home. No one likes to be left in the dark.

Now here is Mayflower's list.

 

 

3. Remember “Rover”: In most cases, moving companies cannot transport animals or plants. Plan ahead and make arrangements for their safe transfer.
4. New address: Keep your new address in your wallet or purse.
5. Records: Obtain copies of your family’s (pets included) medical records. Consider transferring current prescriptions to a drugstore in your new town. Also get a copy of your child’s permanent school record.
6. Bank on it: It is wise to open a checking account in your new home town about a month before you move.

7. Spic and span: Leave out cleaning supplies for the final “once-over.”
8. Buried treasure: Gather those hidden valuables placed around your home.
9. At the cleaners: Remember to collect items being cleaned, stored or repaired and return library books and movie rentals.
10. Old phone numbers: Pack phone books from your existing residence.
11. Garage door openers: Be sure to leave them for the new residents.
12. Keys to success: Remember to collect spare house keys from rocks on the porch, neighbors and family.

Of course, if you still haven't found that perfect home, now is a great time to start looking. Whether you are moving out on your own for the first time, looking for a larger home for your growing family or downsizing now that the kids have gone off to college, we can help.

 

Call us today at 804-237-8585.

 

We'll help make those 2014 Homeownership Goals a reality. 

It's a good life!

 

Mark W. Adams

Associate Broker

Keller Williams Realty

Phone: 804.237.8585

email: office@markadamsteam.com

How long should I keep tax records, bank statements, bills, etc.?

How long should you keep tax records?

Federal laws specify how long you must retain the documentation to support the filing of income tax returns. For most taxpayers, this period is three years from the original due date of the return or the date the return is filed, whichever is later. For instance, if you filed your 2006 Form 1040 April 17, 2007 or sooner, the IRS has until April 17, 2010, to audit the return and assess a deficiency if necessary.

The statute of limitations period extends to six years if a return includes a substantial understatement of income (defined as omitting income greater than 25% of the amount reported on the return). There is no statute of limitations if a taxpayer fails to file a tax return or commits fraud. A taxpayer is considered to have committed fraud if he/she submits a false return or if there is a willful attempt to evade tax.

If a required return is not filed, the records must be kept forever, as the statute of limitations does not begin until the form is filed. Failure to keep adequate records is a separate violation from failing to pay or to file.

And of course anything in a return that may be required to prove a position in a future return, should be kept as support for that position. For example, basis calculations that effect an ongoing holding, amortization of mortgage points etc.

There may be non-tax reasons to retain these records. If you are unsure you should contact a financial advisor and/or tax specialist.

Source: Wikipedia
For more information: IRS article

How long should I keep bank statements?

Keeping bank statements for at least one year is a good idea but if you want to be absolutely prepared in case the IRS ever comes knocking, be on the safe side and keep them for 3 years. You might need two or more years of bank statements if you plan to buy a home and need to apply for a mortgage. Keep bank statements and canceled checks that reflect major purchases, such as a diamond ring, for as long as you own the property.

How long should I keep my personal bills?

There is no need to keep monthly bills, however, it is wise to keep bills until the next month to prove balance, purchases, credits, etc. As a realtor, our sellers are often asked to provide the last year's utility bills to prospective purchasers. This enables the purchaser to get an idea of energy costs of the home they are considering putting an offer on. So if you are thinking about selling your home in the near future, you may want to save your electric, gas and water bills just in case.

Call Listing Agent, Mark Adams, at 804-237-8585 for more information, visit us on the web at www.markadamsteam.com or

 email us at office@markadamsteam.com.

Is Winter a Good Time to Sell a Home?

 

Potential sellers may be hesitant to put their home on the market in the winter because of the misconception that it’s not an optimal time for selling. However, regardless of the time of year there are always buyers in the market for a new home. An advantage of selling in the winter is that you can stage your home to take advantage of the indoor warmth of the season.

This month’s article offers several ideas to help you stage your home for a winter sale, such as placing a warm throw over the corner of the sofa to encourage a cozy feel and turning up the thermostat. Page two outlines a few of the benefits of selling your home in the winter.

If you’re interested in selling your home, please contact me to learn more about its value and our local market. Be sure to share this information with family or friends who may be thinking about putting their homes on the market.

Call Listing Agent, Mark Adams, at 804-237-8585 for more information, visit us on the web at www.markadamsteam.com or

 email us at office@markadamsteam.com.

Are You in the Market for a New Home?

Thinking of Buying a New Home?

 

New home construction has increased as home builders have begun breaking ground on new developments. Low interest rates, affordable home prices and limited existing home inventory have increased the demand for new homes in many areas.

 

This month I have information to help you if you’re in the market to buy a home. Page one includes facts and statistics about the home construction market. Page two offers relevant financing information if you’re thinking of buying a home in need of a remodel, and an overview of home renovations. 

While this information provides a view into the national market, our local market may look different. Please contact me to learn more about new home construction in our local area, or to learn more about the real estate market in general. Also, feel free to share this information on to family or friends who may be thinking of moving.

 

Mark Adams

Associate Broker

Mark Adams & Associates

Keller Williams Realty

804-237-8585
office@markadamsteam.com

6600 W Broad St, Suite 150

Richmond, VA 23230

Are You Thinking of Selling Your Home?

The national inventory of homes has fallen to a four month supply, making it a sellers’ market in many areas of the United States. As a result of this low supply, homes are on the market for fewer days and bidding wars have broken out among buyers. If you’ve been thinking of putting your home on the market, now may be a good time.

This month’s newsletter includes relevant facts and statistics about the current housing market. While page one provides an overview of the market, including the factors that make this an ideal time to sell, page two paints a portrait of the average seller and includes information about the home they sold.

Our new web site offers an abundance of information to help sellers in this dynamic new market. Please visit us at www.markadamsteam.com  or call Mark Adams at 804-237-8585 to learn more.

Home Renovation

Home renovations are growing more popular than ever as many owners seek to maintain their investments or improve the resale value of their homes before they sell.

If you’re planning to remodel your home this year, this month's newsletter I’m sending this month will help you get the most out of it, regardless of the scale. Page one reveals the three renovations that will provide the biggest return on investment, while page two provides tips to help you establish a budget for your home renovation, whether you’re planning a full remodel or a minor update.

The Truth about Credit Scores

Your credit score can mean the difference between securing a historic low interest rate on a loan and being stuck in a higher tier. Great credit scores are the result of one thing—a stellar credit history.

More than 18% of consumers have near perfect FICO scores (800-850).^* While it may seem difficult to reach this level, especially for the 15% of consumers in the lowest FICO range

(300-549), it’s not impossible. The information I’m sending this month details the steps to take to begin improving your credit now. Page one gives the facts about credit, including the information that comprises your credit score. Page two offers three tips that will help you to improve your credit.

Share this information with family and friends who wish to improve or protect their credit.

It’s a good life!

Mark W. Adams

Associate Broker

Mark Adams Team

Keller Williams Realty

6600 W Broad St, Suite 150

Richmond, VA 23230

804-237-8585

Are You a Chocoholic?

If you’re like most Americans, you have a sweet tooth for chocolate. But did you know that our favorite sweet treat began in Mexico and Central America as a bitter drink that symbolized life and fertility?

To celebrate Valentine’s Day, a holiday synonymous with chocolate, I’m including some fun facts about it. The first page provides a brief history of chocolate, from its beginnings as “bitter water” through its evolution as a delicious treat enjoyed by all. Page two describes the health benefits of chocolate.

It’s a good life!

Mark W. Adams

Associate Broker

Mark Adams Team

Keller Williams Realty

6600 W Broad St, Suite 150

Richmond, VA 23230

804-237-8585