Selling Your Home? Watch the Pet Odor

To some people, pets are like their children. For others however, they may be highly allergic and can't stand being around them. When it comes to selling your home, your pets odor, dander and hair, not to mention any damage they've done to the home, should be considered problems you need to fix.

While you might not notice a pet smell in your home, chances are someone who doesn't own pets will notice one, no matter how clean you keep your floors, or how often you change the litter box. So what's a pet owner to do? Well, if a speedy and generous offer on your home is your goal, you might have to invest a bit of time and money cleaning up after your pet.

The main thing with getting rid of pet smells is to not have them come back right away. This is why it might be a good idea for your pet(s) to visit a kennel while your home is up for sale, or at least to be staying with a pet-babysitter on days you know your home will be shown. By getting them out of the house and then cleaning up after them, you make sure that any allergens and odors alike are minimized.

Another important step to minimizing these is to have ventilation or central heating ducts cleaned. These can be full of dust and animal dander. Don't forget to change the filter.

If you have any questions about pets and how they could be affecting you getting a buyer for your home, contact us. We have other tips we can offer you. Just use the comment link below and we'll get back to you as soon as possible.

Signs of a Housing Turnaround

News abounds… housing is down, mortgages are harder to get. But how do you know when we've hit the bottom and things are turning around? Our Money Editor, Stacy Johnson, has a few clues. (Video runs 1:26)

Questions or comments? Contact us by using the "comment link" below.

Homeowners Insurance: Are You Sure You're Covered?

Being smack dab in the middle of the peak of the Atlantic hurricane season tends to make us all think about homeowner's insurance. What's the most important thing you need to know about your homeowners insurance? The answer: What it does — and doesn't — cover.

The list may not be as obvious as you think. Regular homeowners insurance will cover damage from fires, tornadoes and pieces airplanes or space shuttles that fall from the sky, but it won't cover havoc wreaked by flooding, hurricanes, earthquakes, acts of terrorism or nuclear meltdowns.

Here are the basics you should have from your homeowners insurance:

• You want enough coverage to rebuild your home from scratch. Don't count on your insurance agent to give you an accurate figure. Get a square-footage estimate of the reconstruction value. It generally isn't the same as the fair market value. Remember: A "guaranteed replacement" policy isn't necessarily a guarantee.
• Get "replacement cost coverage" rather than "actual cash value coverage" for your belongings. Make an inventory of your possessions and the cost to replace them. You'll likely need a rider to protect valuables like furs, jewelry, fine art and antiques.
• Check your policy's "loss of use" provisions. How long will your insurer pay your rent while your damaged home is being repaired or rebuilt?

One survey found that 58% of households have too little to adequately protect their property. Don't wait until after a tragedy strikes. Check to make sure you're adequately covered BEFORE a storm or fire strikes.

Real Estate Auction Warning

Ever been to a real estate auction? Ever been told you can pick up a steal at a real estate auction?

our Money Editor, Stacy Johnson, explains why the highest bid at a real estate auction DOESN'T necessarily mean you've won the bidding and bought the property.

Video runs 1:18…

Keep these points in mind the next time you're thinking about trying to pick up a steal of a deal at a real estate auction.

Taxes: One Myth Dispelled

There used to be a policy stating that anyone aged 55 and over could exclude up to $125,000 of his/her gains from the sale of a house. This was availed of under the premise that this is done only once.

The newer rules now are actually more specific. In one amendment, the age requirement was no longer in effect and the amount for exclusion was increased to $250,000 per person. Thus, a couple may claim tax deductions up to $500,000 from gains made on the sale of a house.

Later, the policy was revisited making the benefit available to anyone every two years. This means that every two years, anyone can sell a house and exclude up to $250,000 in gains from taxes.

Keep this in mind if you've sold a home this year, or planning to sell a home.