Margie Eldridge for Real Estate Services

05/27/2025

If your parent or spouse passes, here is some information about tax breaks on the family home (from AARP):
When selling a jointly owned home, couples may be able to exclude $500,000 in profits from income. As a survivor, you have to sell the home within two years of your spouse's death to claim that $500,000 exclusion. To be eligible, the couple need to have owned and lived in the home at least 2 out of the 5 years preceding the death.
After that, you can apply only your share of the exclusion, or $250,000, if you sell. Still, at least half the home will get a so-called step-up in cost basis after the spouse's death, which will reduce the amount of profit and tax on gains. (In community property states both halves of the home get this step-up). To make sure the cost basis is adjusted for capital improvements, such as a new roof or addition, you'll need detailed records.

Now you know. :)

01/25/2025

https://www.facebook.com/share/r/1Dxpa7Aoew/?mibextid=wwXIfr

01/30/2024

Its always good to know your options as a Maryland home owner or future home owner!

Assessments are up an average of about 23.4% across the state, according to the Maryland Assessments and Taxation Department.

04/22/2023

https://members.houselogic.com/articles/dirtiest-places-in-your-home/preview/?cid=eo_em_mkt_rcrnewsletter

Admit it: It’s easy to get a little “Judge Judy” inside someone else’s home. We notice gunk on the floor, cobwebs in the corners, and dust on the overhead fan. But guess what? You’ve probably got some gunky places that your friends notice, but you don’t. (Sad trombone.)

03/17/2023

Some HighlightsToday’s housing market is different than it was in 2008.Lending standards have tightened, foreclosures have declined, home inventory is much lower, and homeowners have far more equity.

01/10/2023

Now that we've recovered from our New Year celebrations and are more comfortable writing 2023, its time to review what maintenance items may be addressed this month!
Let me know if you have any to-do items that we could add to this list!

Start off the new year with some home resolutions!

01/04/2023

HAPPY NEW YEAR!
If buying a new house is on your 2023 list of accomplishments, I can help you navigate the process to get to the result that YOU want! Let's start with the money.....
Securing financing is key to buying your next house. If you don't prefer to pay cash and decide to apply for a mortgage, your debt-to-income ratio will be key to making that work.
Call me if you have any questions about the home buying process.

Figuring out your debt-to-income ratio today can help you get approved for a mortgage.

12/01/2022

This brief article echos many concerns, but the last sentence is the calming reality. The real estate market is solid so call me if you want to know the value of your house today.

They don't expect a crash, but a slowdown seems likely.

11/11/2022

Words to live by….

These common expressions can cause listeners to think twice.

11/02/2022

Helpful information for landlords and tenants!

There’s no standard credit score required to rent an apartment, but having a good credit score can help your application.

10/28/2022

With high interest rates, buying a house is more complicated. We have answers about refinancing when rates go down, cashing out stocks or retirement accounts and how much house you can afford to buy.