Find Your Home's True Equity
A Professional Equity Assessment Report (PEAR) is a custom evaluation of your home’s cash value. We can determine your home’s approximate equity by assessing your current mortgage and estimated selling price and deducting fees such as commissions, excise tax, and other closing costs. This report is a powerful tool for helping you make confident decisions about selling your home.
The truth is that the final numbers are more than just the sales price and remaining mortgage balance. Other factors such as capital gains tax, broker commissions, HELOC loans, prepayment penalties, special assessments, and escrow and lender fees play a part in this final number.
We’ll help you clearly understand your bottom line. All you have to do is let us know what your address is, and we'll get started on the report right away.
What factors are included in the equity assessment of my home value?
- First mortgage balance
- Interest rate
- Second mortgage or HELOC
- Washington excise tax
- Listing agent commission
- Buyer agent commission
- Lender fees
- HOA fees
- Property taxes
- Title and escrow
If you sell your home for a profit, the IRS considers this a taxable capital gain. This rule applies to all home sales, including vacation or investment properties. However, if you sell your primary residence, you may be able to exclude $250,000 of gain for individuals and $500,000 for married couples from your taxes. As a result, in most cases, it’s unlikely that you will owe taxes on the sale of your home. Here’s how it works. Full Article HERE
Buckle up for a bumpy ride as 2025 looks to have multiple twists and turns ahead.
- The housing market will keep shifting in 2025.
- The average home value rose by 9% annually.
- Expectations are for approximately a 5% increase in prices for 2025.
- Homebuying activity should pick up after a long slump, despite choppiness in mortgage rates.
- Housing inventory to start the year is the highest since 2020.
- Fewer bidding wars with normalizing housing supply.
- Interest rates to bounce around the mid 6% range.
Be sure to ask these important questions before you hire a Broker to help sell your home:
What You Don’t Know About Hiring a Real Estate Agent Could Cost You.
