Six easy ways to protect your online privacy.

We all worry about internet hacking and identity theft! 

This article posted from the Pennsylvania REALTOR® Association offers some really great suggestions to help protect your online privacy. Be sure to pass this on to anyone you think may benefit from these tips!

Here's a quick summary of the tips.

1. Clear your browser history

2. Sign out of online accounts

3. Add encryption to your computer

4. Use two-step authentication in gmail

​5. Set up Google Alerts

​6. Change Facebook settings

Contact Linda Foll Johnson today at the Millcreek office at 814-833-8840, cell at 814.397.0615, or e-mail at Linda.Johnson@MarshaMarsh.com.

The 2014 WinterFest committee recently signed a cooperative agreement with Marsha Marsh of Marsha Marsh Real Estate Services and Clint Altman, sports director of the YMCA of Corry. For next year's WinterFest, the Frozen 5-K Run will be exclusively sponsored by the Marsha Marsh Real Estate Firm. Altman will perform the logistics in pulling together the race. For an early entry application, stop in at the Y. Pictured from left are Jim Wojcicehowski, executive director of Corry Community Development Corporation, Marsh and Altman.

Sitting by the mailbox, waiting for your tax refund? Stop waiting and start thinking about the best ways to invest that money in your home.

In 2012, the average IRS tax refund was about $3,000. Your home is likely one of your biggest assets, so it makes good financial sense to take care of it. Keeping your home up to date will contribute to its longevity, heighten your enjoyment and help you sell your home if you ever decide to. So, instead of a fleeting ski weekend, why not consider investing at least a portion of your refund in your home?

Even modest investments can improve your home’s value and make it more livable. Here are five home improvement projects you may want to consider, all under $3,000:

New entry door 

First impressions mean a lot. A new front door can enhance curb appeal, improve security and lower utility costs. According to Remodeling magazine’s Remodeling 2012-13 Cost vs. Value Report, a $1,137 steel entry door replacement project returns 85.6 percent of your investment. Fiberglass doors are generally more expensive, but they’re still a smart investment. According to the same report, a $2,753 fiberglass entry door project will yield a return of 65.9 percent.

Even better? Certain energy-efficient exterior doors are eligible for federal tax credits of up to $500, excluding installation costs.

Garage door

The appearance and condition of your garage door also plays a big role in your home’s overall appearance. According to the Cost vs. Value Report, an uninsulated, 16-by-7-foot garage door costing $1,496 will increase your home’s resale value by $1,132, a return of 75.7 percent.

Weatherize

For just a couple hundred dollars, a do-it-yourselfer with the most basic of skills can install insulation, caulk and door seals, reducing household energy consumption by almost 35 percent in the typical weatherized home. Willing to invest more? Windows can allow major losses of heat in the winter and cool air in the summer, requiring more energy — and money — to keep your home comfortable. Replacing old windows with Energy Star-qualified windows can reduce household energy bills by 7 to 15 percent and will shrink your home’s carbon footprint.

Paint

This may be the perfect time to kiss your dated mint bathroom or mauve rec room goodbye. A gallon of paint costs less than $30 and will provide one-coat coverage for about 350 square feet.  If you think you might be putting your house on the market sometime soon, opt for neutral colors that have more universal appeal. Even if you’re staying put, a fresh coat of paint can update and personalize your space for a fraction of the cost of a total remodel.

Let there be light

Updated home lighting can enhance your decor, save on energy costs and increase your safety. Even if a new chandelier isn’t in your budget, dimmer switches will allow you to control the intensity of light throughout your home while saving electricity. A basic dimmer costs less than $10 while fancier, remote-control and programmable dimmers can be purchased for $40 and up.

Metal can or recessed lights will brighten dark corners while under-cabinet light strips can add much-needed light to kitchens, craft rooms and laundry rooms. Unless you have knowledge of electrical wiring, you’ll need to hire a pro to handle the installation.

Author Mary Boone from Zillow.com

Taxes are due April 15, which means it’s time to start gathering your W2s, 1099s, child care receipts and bank statements.

But before you sit down with your accountant, it’s important for you to know that merely owning a home could mean you qualify for tax breaks. In most cases, you need to itemize your taxes in order to take advantage of these deductions. Yes, it makes the tax-filing process seem impenetrable, but the benefits may outweigh the complications.

Here are a few of the tax breaks you’ll want to investigate:

Mortgage interest paid at settlement

Take a look at your closing statement; one item that’s generally listed there is home mortgage interest. On a mortgage of up to $1 million, you can deduct the interest that you pay at settlement if you itemize your deductions on Schedule A (Form 1040). This amount should be included in the mortgage interest statement provided by your lender.

Points

Did you pay points in order to obtain your home mortgage? These fees are included on the income tax deductions list and can be deducted as long as they are associated with the purchase of a home. If you refinanced your home, these points are still deductible, but it must be done over the life of the mortgage.

Property taxes

As long as they are based on the assessed value of the real property, you can deduct your state and local property taxes. However, if your money is being held in escrow for the purpose of paying property taxes, you cannot claim this deduction until the money is actually taken out of escrow and paid. If you do this, check your Form 1098 for the amount you may deduct. Be aware that if you receive a partial refund of your property tax, the amount of the deduction you can claim will be reduced.

Selling costs

If you sold a home in the past year, you may be able to reduce your income tax by the amount of your selling costs. These costs can include things such as repairs, title insurance, advertising expenses and broker’s fees. The IRS only allows the deduction of repair costs associated with selling if the repairs were made within 90 days of the sale. It’s also crucial that the repairs were made with the intent of improving your home’s marketability. Selling costs are deducted from your gain on the sale.

Home office

If you use a portion of your home exclusively for the purpose of an office for your small business, you may be able to claim a deduction on your taxes for costs related to insurance, repairs and depreciation. You may only claim this deduction if the space within your home is used exclusively and regularly as either your principal place of business or a place where you meet and deal with customers or patients. You may also be able to take advantage of this deduction if a portion of your home routinely is used for storing items (product samples, inventory, etc.) used in your business.

In tax year 2010 (the most recent year for which figures are available) nearly 3.4 million taxpayers claimed the home office deduction.

Mortgage insurance premiums

You may be able to deduct the premiums paid for private mortgage insurance for your principal residence and for a non-rental second home.

The deduction begins to phase out once your adjusted gross income reaches $100,000 ($50,000 for married filing separately). In general, you can deduct the premiums paid for the current tax year only. A qualified tax adviser can provide information about rules for mortgage insurance provided by the Federal Housing Administration, Department of Veterans Affairs and Rural Housing Service.

Home improvement loan interest

If you’ve taken out a loan to make improvements on your home, you may be able to deduct the interest on this loan. Qualifying loans are those taken out to add “capital improvements” to your home, meaning the improvement must increase your home’s value, adapt it to new uses or extend its life. New carpeting or painting are not considered capital improvements, while adding a garage, installing a water heater or building a deck are all examples of capital improvements.

Construction loan interest

If you take out a construction loan to build a home, you may qualify to deduct the interest. The IRS only allows a deduction for mortgage interest if the loan relates to a “qualified” home, which means it must either be your principal residence or a vacation home that you will use for personal purposes. You can only use this deduction for the first 24 months of the loan, even if the actual construction takes longer.

Tax codes can be confusing. You may want to consult the IRS website for information concerning deductions and credits. Additionally, consider meeting with a professional to ensure you’re not missing any deductions for which you’re eligible.

Author Mary Boone from Zillow.com

Another reason to BUY REAL ESTATE NOW.

FHA is raising the monthly mortgage insurance (MI) premiums by 10 bps.

What does this mean to the buyer?  Based on a $100K purchase with 3.5% down the monthly payment would increase by $7.97.  But the major change is FHA will soon require all MI to continue for the life of the loan. 

Prior to 2001, this was an FHA requirement.  Beginning in 2001, FHA canceled monthly MI once the principal balance was 78% of the original principal balance.  So it looks like we are back to the old days. 

However, borrowers are still able to refinance into a conventional loan (down the road) if they have 95% or more equity. The national average says homeowners only keep their original loan for approximately 4 years, so this new ruling may not be quite as frightening as it sounds.

We will keep you informed as we hear more.  And as always, feel free to reach out to us with questions. 

Contact Marsha Marsh today at the Peach office at 814-866-8840, cell at 814.440.8181, or e-mail at Marsha.Marsh@MarshaMarsh.com.

Tuesday, January 22, 2013 the agents of Marsha Marsh Real Estate Agents met to go over New Construction for 2013. Discussed in the 2 hour meeting was information on builders in our area and also types of new construction.

With inventory at all time lows agents need to understand the new construction process and the advantages to buyers.

Builders like Mike Peck might allow the buyers to build a “pre-built spec” that finances like a resale home and not have to get a construction loan which is more expensive for buyers due to draw schedules and inspections with the bank.

Mike Peck has a new subdivision in Northwest Millcreek, Asbury Point with over a dozen lots available for spring. Mike Peck also has lots to build in Fairview close to Kahkwa Club off Swanville Road.

Building allows buyers to build what they want and get a great value, plus no deferred maintenance on the home. New Construction due to new building codes, makes the home ENERGY EFFICIENT and this is very important moving forward with cost of energy today.

Agents need to get their buyers familiar with new construction because 2013 will be a great year for new construction !!!! 

Contact Marsha Marsh today at the Peach office at 814-866-8840, cell at 814.440.8181, or e-mail at Marsha.Marsh@MarshaMarsh.com.

Winter Curb Appeal

I think there is a misconception that the market must be slow in the winter months. Sure there are some hurdles to overcome because of winter in our snow belt region, but those of us that have been in the business long enough, know that there are always buyers and sellers.

Sellers should know that curb appeal is just as important on snow days as they are in the summer months. If there is snow, make sure driveways and sidewalks are plowed and shoveled. This holds true for those vacant homes also (Marsha Marsh Real Estate Services helps our client's vacant properties stay clear for easy showings). No one wants to wade through snow when they are looking at properties.

Another big turnoff, is walking into a home that is "freezing". You might like to keep your thermostat low to save money, but the impact on buyers is definitely negative. Just a few degrees will make a big difference.

Anything you can do to make your home warm and inviting will be greatly appreciated by buyers considering to purchase your home. Cozy fires and comforting smells will appeal to these buyers, who we know, are not "just looking" if they are willing to be out in this kind of weather to find their dream home! 

Contact Kathy Clark today at the Peach office at 814-866-8840, cell at 814.323.6209, or e-mail at Kathy.Clark@MarshaMarsh.com.

Linda Foll Johnson-Realtor with Marsha Marsh Real Estate Services interviewed about her experience with Erie Free Tax. The program, which helped more than 1,300 people receive the earned-income tax credit during the 2012 filing season, will launch an awareness kickoff Saturday at the offices of the United Way of Erie County.   http://bit.ly/WWCZcr

Learn more about Erie Free Tax at www.unitedwayerie.org/ErieFreeTaxes/

Photo: Linda Foll Johnson, of Erie, is an associate broker with Marsha Marsh Real Estate Services. She was photographed in a home for sale in Harborcreek Township during an open house on Jan. 20. ANDY COLWELL//ERIE TIMES-NEWS

Click here to learn more about Linda

Snapshot of the Erie Real Estate Market 

The stats are in for the year-to-date September 30, 2012 for Erie real estate – see the chart below. I usually look at how much change there has been in the Quantity of Sales, the Sale Prices and Days on Market.  It is interesting to compare median and average numbers. I am also happy to report that my company, Marsha Marsh Real Estate Services has captured more than our share of the business increase. We have had a 39% increase in sales from January to September 2012 over 2011. The statistics are from the Greater Erie Board of Realtors Multiple Listing Service (MLS) and certainly match my own experience this year.  There are several areas and price ranges that have a real shortage of homes on the market.  I have had more competing offer situations this year where last year that was rare.  It is a unique market in that there are real advantages for both buyers and sellers over other market cycles I have seen.

Advantages for Buyers:

There are crazy low interest rates available now. Mortgage rates are in the 3.25%-3.375% range and sometimes buyers can even get credits from the lender to help with closing costs.  Costs for housing, while they have increased slightly, are still very affordable – especially with these low rates.  There are many mortgage options available – don’t listen to the national news on this subject.  There is plenty of mortgage money available here and you don’t need perfect credit.

Advantages for Sellers:

There are more buyers in the marketplace.  Lots of people waited to make their move until the economic picture was brighter.  There is much more consumer confidence that in the recent past and buyers who have been waiting are coming back into the marketplace.  Because of the lack of housing inventory in several areas and price ranges, some homes are in high demand which leads to competing offers.  Great for sellers! Plus home prices have gone up after a period of time when values were more stagnant. Price increases were kept in check by mortgage appraisals which continue to be very conservative. Take a look at the following statistics and call me if you want more information on anything like specific municipalities or price ranges.  Also feel free to pass this along to anyone who could use the information.  Of course I am never too busy to take good care of any of your referrals.  Just give me a call at 814-881-0580 or email me at Nanci.Lorei@MarshaMarsh.com

Short Sales Myths Busted

Do you know what the difference between a Short Sale and a Foreclosure?

Start by reading this article and e-mail Dawn Nesbitt with any questions.

This article breaks down the myths between short sales and foreclosures. Home owners have so many options today, and with our network and reputation in the Erie Community, we have a number of valuable resources to help make sure your have options when it comes to selling your home. If you're afraid your home is facing a short sale or foreclosure, contact me today and I would be happy to provide you a free, no obligation consultation.

Contact Dawn Nesbitt today at the Peach office at 814-866-8840, cell at 814.882.0647, or e-mail at Dawn.Nesbitt@MarshaMarsh.com.