Realty Executives Midwest
Realty Executives International has launched the newest addition to their exclusive training suite, the 2020 Digital Marketing Executive course. This four-week certification course is offered annually to all Executives, Broker/Owners and office employees of the Realty Executives’ franchises.
The educational event is held virtually twice per week for four weeks. Brand leadership including President, Patrick van den Bossche, and Vice President, David Celaya, are joined by various guest speakers to lead the network through a multitude of topics pertaining to real estate in the digital world. Topics include: social media advertising, leveraging your CRM, perfecting online profiles and more. The goal of the DMX certification is for all attendees to leave with a digital strategy and execution plan for their business.
Realty Executives International launched the 2020 course, understanding the evolving state of real estate and the opportunities for business that lie ahead. As many agents and brokers are having to adapt to staying distant from clients, the brand wanted to provide different opportunities to utilize downtime and connect with clients through digital channels. By providing the training course free-of-cost, Executives and Brokers are able to provide better service to home buyers and sellers around the world.
“We are incredibly impressed and pleased by the turnout for this year’s DMX course. With over 1000 registrants, it really shows our Execs’ commitment to excellence in real estate,” Alysia Heun, Vice President of Realty Executives International, said. “While some in the industry are struggling to adapt to the ‘new norm’ in real estate, our Execs are taking it in stride, spending the time to educate themselves on the best digital strategies and practices, and ensuring that they are well prepared to serve their communities. We are grateful for a network that demonstrates passion for real estate and an unshakeable work ethic.”
Registrants of DMX training will receive a certificate of completion along with a playbook that includes all materials that were discussed throughout the virtual classes. For more information about Realty Executives, visit www.realtyexecutives.com/joinus.
Jana Pinc, the designated managing broker of Realty Executives Midwest in Darien, IL says:
“The timing of this 8 Session training couldn’t be more perfect! The content of this presentation was right on target and relevant to today’s market conditions – all the new and innovative tools available to us through the PrimeAgent Realty Executives platform. I was also extremely pleased with our agents’ & admin staff’s participation and their positive response after the completion of these sessions. A great shot in the arm amidst the sad Covid-19 experience – fortunately, we are coming out of this stronger than ever!”
Article Source: Realty Executives International
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
The post-COVID-19 era will likely bring a slew of changes to the kinds of properties, features, amenities and locations homebuyers will look for. Here are a few trends to expect
Ever since COVID-19 hit, most of us have been in a “qurantinathon” in our respective places of shelter. By now, we’ve likely used every nook and cranny of our homes to the max.
The dining room table has quickly turned into the home office, the conference room and possibly even the home-schooling hub. The living room is the new “Zoom” center for video meetings. Sometimes, the corner of a bedroom is the only place to find some quiet time to take that phone call. The kitchen is now the work and school cafeteria, stocked with a coffee pot that’s always on and full and a food-serving counter that’s open 24/7.
Some of us may feel like we’ve overstayed our welcome in our own homes, or rather the home has worn out its welcome and no longer works for our current lifestyle and needs. As a result, three scenarios are likely starting to happen.
We might have fallen in love with our current spaces even more and began appreciating many of the features we never fully utilized until now.
Or, maybe we realized that even though there’s a lot we love about our home and its location, we still have some work to do to make it “perfect.” We’ve come to the conclusion that perhaps our space needs some remodeling, new furnishings, a bit more freed up space and amenities. Or, lastly, perhaps our homes are pushing us to think about our options and consider a possible relocation.
As we move toward a revamped way of life, shifts in homebuying are likely to occur in the post-COVID-19 era. We’ll be seeing changes in the kinds of properties, features, amenities and even locations that people look for. Here are four trends to watch out for.
After going through a pandemic, people may opt for a single-family home over a condo, co-op, town home or other multifamily arrangement. People might not like having to access their homes through a common area.
Being able to go in your own front door without having to go through a lobby area or elevator is a treasured amenity in times like this. The same could be said about having your own storage space in a garage, attic or basement.
And outdoor space? No matter how big or small it may be, having your own yard, patio or porch is a prized possession — especially if you need to extend your workspace outside. Having your own place to set up a grill as well as eat outdoors may be a welcome change from tiny balconies that lack privacy and have restrictions.
Being cooped up may give way for the need to have a place with a flexible floor plan, like a bedroom that can become a home office. People might want to have a house with two master suites, in case someone in the household gets sick and needs to be quarantined or to accommodate an elderly relative who needs to be brought out of a nursing facility.
A casita or guesthouse could also become an in-demand feature to comfortably house family members for extended periods of time. It could also serve as a workspace, a safe quarantine zone or a place to practice hobbies.
Bonus rooms with their own bathrooms, finished basements, dedicated home offices, a third-car garage (to serve as decontamination zone) or home gym could also become in vogue.
Spending loads of time at home with limited ability to travel in the immediate and not-too-distant future means the need for more spaces to use for relaxation, fun, exercise and meditation. People are less likely to question the necessity of these features. Instead, they’ll consider them a requirement.
Properties boasting outdoor living areas with huge patios, outdoor TVs, fire pits and pools may reign supreme. Even cold-climate locations, where a pool isn’t typically a desirable amenity due to limited use and maintenance, may see a resurgence in demand for homes with these features.
Summer or outdoor kitchens may also gain popularity, since people might want another space to cook in besides their indoor kitchen. Homebuyers may also look for properties with large outdoor bar areas where they can relax and enjoy meals and happy hour. Massage rooms, yoga or dance studios along with home movie theaters and gaming lounges may also become in demand.
Backyard putting greens and outdoor tennis or sports courts may provide that perfect escape while practicing social distancing in the comfort of your own home. For water enthusiasts, homes with a boat slip, dock and boat lift will allow you to have a playground right outside your door and enjoy hours of fun on the water in your boat or jet ski. No marina needed.
As Jimmy Buffet sang in “Changes in Latitudes, Changes in Attitudes,” this experience may drive some people to relocate altogether or to finally buy that second home. Since flexible work arrangements will likely become the norm for a while, along with uncertainty regarding the future, people may choose to put their money toward their dream “shelter-in-place” escape instead.
Properties that offer people the ability to enjoy an outdoor lifestyle in opportune climates will likely become on trend. Mountain, lake, desert, beach and coastal properties may provide a much-needed escape and the chance to experience an entirely new lifestyle several months of the year — if not as a full-time residence.
Along these lines, people may look to buy a second home that can be monetized as a vacation rental to offset costs and provide some income. Buyers may also seek locations known to promote a healthy living environment, parks and walkable neighborhoods.
Access to good healthcare may be paramount. In fact, some may choose to relocate based on that feature alone. Some may want to “get out, way out” and look for properties that are secluded and not near any other homes.
The tiny house movement may see some resurgence as an extremely affordable option to be mobile and flexible to relocation. Properties or communities with their own private airstrips, helicopter landing pads or easy access to non-commercial airports to accommodate private jets could also become highly sought-after by the uber wealthy.
As we transition to a gradual reopening of the U.S., homes and locations that fit the above may be well-positioned to take advantage of a positive market momentum.
As an agent, now may be the time to hone in on where people in your area like to go on vacation or own second homes. Identify potential locations that are relatively easy to travel to as possible options. From there, consider establishing referral relationships with agents in those markets, and learn about the options and price ranges that are available.
Stay in touch with them, and keep your finger on the pulse of what they’re seeing and what’s happening. Are they noticing an uptick in activity? If so, where are the buyers coming from? Are they looking for primary or second homes?
If buyers are coming from your market, hopefully, the referral relationship can be mutually beneficial for both of you, especially if they have a home to sell. Perhaps that buyer may want to downsize to a more turnkey option in your market and have a larger residence they plan to spend more time in elsewhere.
As an agent, visiting areas that have a connection to your market is highly beneficial, especially when discussing them with a client. When you physically see these areas of interest and canvass the neighborhoods and properties, you’ll have a better sense of the landscape.
If it makes sense, consider expanding your services so you can sell in those areas. That way, you can stay with your client from end to end and serve as their point person in both areas. You may find yourself developing a healthy pipeline of buyers and sellers in both markets. If you’re blessed with an overwhelming amount of business as a result, consider partnering up with another agent in both markets to tag team servicing clients.
Homes in existing metropolitan areas that have flexible floor plans and an array of outdoor amenities may also see a spike in demand over the upcoming months. It would be prudent to build your market knowledge on where those properties are and identify owners who may be interested in selling.
Building relationships with contractors that can enhance existing homes with a guesthouse, more outdoor space or pool is also beneficial. You can become a resource to clients who may be interested in upgrading their existing spaces. Having these resources will also come in handy should an owner decide to sell and buy something else that needs work.
Either way, new buyers may want to know what their options are in regard to enhancing existing properties that fit their price range but are in need of amenities. As an agent, getting up to speed on the design trends and construction costs can help solidify you as a resource for everyone you serve, whether they are buyers, sellers or existing clients who want to stay in their homes.
Resource: https://www.inman.com/2020/04/28/what-will-homebuyers-want-post-covid-19-here-are-a-few-trends/
Inman article BY CARA AMEER
We may be stuck at home but that doesn’t mean we can’t celebrate spring with some outdoor fun!
Even if you’re not a cook, there are a ton of things that can be thrown together with minimal time and effort. There’s no better time to start eating more vegetables and fruits with so many in season to choose from and the time to experiment!
Start Out With Some Grilled Fruit Kabobs
Fresh fruits are packed with antioxidants and a great way to satisfy your sweet tooth. Grilling fruit intensifies the flavors and brings out the fruit’s natural sweetness. Some great options that hold up well on the grill are bananas, pineapples, peaches, and melons. Cut fruits into large pieces to avoid losing any small pieces through the grates on the grill. You’ll know it’s done when the middle of the fruit is hot and it has thick, dark grill marks.
Make Some Homemade Lemonade with a Summery Twist
Watermelon is finally back in season! Try making some watermelon lemonade for a refreshing twist on a summer must-have. It has a perfect balance of sweet and tart that pairs perfectly together. Even better, make an adult version and spike it with a little vodka!
Stuff it!
Avocados are one of the most popular fruits out there and are densely packed with nutrition. Once you remove their large seeds from the middle, it makes a perfect little crater to stuff things in! You can go for a Mexican appetizer and stuff a cold avocado with cubed tomatoes, onions and cilantro, or go a more savory route and create some chicken parmesan stuffed avocados for a heartier meal.
Bring the Caribbean Atmosphere to your Backyard
Even if you can’t escape on a tropical vacation, you can bring tropical flavors right to your backyard. Try making jerk chicken. You probably have most of the spices sitting in your cabinet already. The blend of spices contrasting with the hint of sweetness is irresistible. You can spice it as much or as little as you want! A typical jerk spice rub consists of allspice, cloves, cinnamon, nutmeg, thyme, garlic, brown sugar, ginger, salt and pepper; and you can adjust the amount of spice to your liking.
California Vibes
Throw together some fish tacos and you’ll feel like you’re a surfer in Cali. Tacos are one of the most diverse dinner ideas out there. You can load up the toppings or keep it simple. Either way, this is a versatile summer dinner to please everyone.
A Grilled Cheese Walks into a Luau…
If you are a fiend for Hawaiian pizza then this is sure to tickle your pickle. Try making a grilled cheese on Hawaiian sweet rolls brushed with some teriyaki sauce and add slices of pineapple. It will satisfy your sweet and salty craving and make you want to bring out your loudest Hawaiian shirt.
Good luck and if you're looking to buy a home with that perfect patio/deck contact one of our agents here.
For most tax deductions, you need to keep receipts and documents for at least 3 years.
Unless you live in a Hollywood Hills mansion, you probably don't have space to store years of tax and insurance paperwork, warranties, and repair receipts related to your home.
But you need that paperwork if you need to prove you deserve the tax deductions you took, to file an insurance claim, or to figure out if your busted oven is still under warranty.
To help you organize your piles of papers, we've created a handy checklist of how long to keep tax records.
First, a little background on IRS rules, which informed some of our charts:
| HOME SALE RECORDS | |
| Document | How Long to Keep It |
| Home sale closing documents, including closing statement | As long as you own the property + 3 years |
|
Deed to the house |
As long as you own the property |
| Builder's warranty or service contract for new home | Until the warranty period ends |
| Community/condo association covenants, codes, restrictions (CC&Rs) | As long as you own the property |
| Receipts for capital improvements | As long as you own the property + 3 years |
| Mortgage payoff statements (certificate of satisfaction or lien release) | Forever, just in case a lender says, "Hey, you still owe us money." |
Why you need these docs: You use home sale closing documents and receipts for capital improvements records to calculate and document your profit (gain) when you sell your home.
Your deed and mortgage payoff statements prove you own your home and have paid off your mortgage, respectively.
Your builder’s warranty or contract is important if you file a claim. And sooner or later you’ll need to check the CC&R rules in your condo or community association.
| ANNUAL TAX DEDUCTIONS* | |
| Document | How Long to Keep It |
| Property tax payment (tax bill + canceled check or bank statement showing check was cashed) | 3 years after the due date of the return showing the deduction |
| Year-end mortgage statements | 3 years after the due date of the return showing the deduction |
| Tax returns | 3 years from the date you file your return or 2 years from the date you paid the tax, whichever is later |
Why you need these docs: To document you’re eligible for a deduction or tax credit.
*These deductions are relevant if you itemize. The standard deduction has been increased, which means fewer people will itemize than have in the past.
| INSURANCE AND WARRANTIES | |
| Document | How Long to Keep It |
| Home repair receipts | Until warranty expires |
| Inventory of household possessions | Forever (Remember to make updates.) |
| Homeowners insurance policies | Until you receive the next year's policy |
| Service contracts and warranties | As long as you have the item being warrantied |
Why you need these docs: To file a claim or see what your policy or warranty covers.
| INVESTMENT (LANDLORD) REAL ESTATE DEDUCTIONS | |
| Document | How Long to Keep It |
| Appraisal or valuation used to calculate depreciation | As long as you own the property + 3 years |
| Receipts for capital expenses, such as an addition or improvements | As long as you own the property + 3 years |
| Receipts for repairs and other expenses | 3 years after the due date of the return showing the deduction |
| Landlord's insurance payment receipt (canceled check or bank statement showing check was cashed) | 3 years after the due date showing the deduction |
| Landlord's insurance policy | Until you receive the next year's policy |
| Partnership or LLC agreements for real estate investments | As long as the partnership or LLC exists |
| Landlord insurance receipts (canceled check or bank statement showing check was cashed) | 3 years after you deduct the expense |
| Section 1031 (like-kind exchange) sale records for both your old and new properties, including HUD-1 settlement sheet | As long as you own the property + 3 years |
Why you need these docs: For the most part, to prove your eligibility to deduct the expense. You’ll also need receipts for capital expenditures to calculate your profit (gain) or loss when you sell the property. Landlord’s insurance and partnership agreements are important references.
| MISCELLANEOUS RECORDS | |
| Document | How Long to Keep It |
| Wills and property trusts | Until updated |
| Date-of-death home value record for inherited home, and any rules for heirs' use of home | As long as you or spouse owns the home + 3 years |
| Original owners' purchase documents (sales contract, deed) for home given to you as a gift | As long as you or spouse owns the home + 3 years |
| Divorce decree with home sale clause | As long as you or spouse owns the home + 3 years |
| Employment records for live-in help (W-2s, W-4s, pay and benefits statements) | 4 years after you make (or owe) payroll tax payments |
Why you need these docs: Most are needed to calculate capital gains when you sell. Employment records help prove deductions.
Because paper, such as receipts, fades with time and takes up space, consider scanning and storing your documents on a flash drive, an external hard drive, or a cloud-based remote server. Even better, save your documents to at least two of these places.
Digital copies are OK with the IRS as long as they’re identical to the originals and contain all the accurate information that was in the original receipts. You must be able to produce a hard copy if the IRS asks for one.
Tip: Tax season and year’s end are good times to purge files and toss what you no longer need; that's often when the spirit of organization moves us.
When you do finally toss out your home-related paperwork, use a shredder. Throwing away intact documents with personal financial information puts you at risk for identity theft.
This article provides general information about tax laws and consequences, but isn’t intended to be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice.
Article Source: https://www.houselogic.com/finances-taxes/taxes/how-long-to-keep-tax-records/?site_ref=spotlight
Infographic Source: Keep Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Realty Executives agents are real estate experts. They have the education and expertise you need to navigate through the process of buying or selling a home. From listing at the right price to making the best offer, our Executives have witnessed the best - and most regrettable - decisions homeowners and homebuyers can make. Every day, they are immersed in every aspect of real estate that includes comparable home price analysis, property surveys, credit reports, open houses, HOA agreements, lenders, title companies, homeowners’ insurance, walk-throughs, terms of sale or purchase, repairs, concessions and closing documents. Let our accomplished Executives help navigate you through the process of buying or selling a home.
