July News and Events that you don’t want to miss!
Current Market Trends
The real estate market is improving! It’s been a long awaited recovery for many home owners. Many have been stuck in their current home because the values had fallen and the mortgage was more than the value of the home. Things are changing and you may not be trapped any more!
To find out if your home value has increased call me for a free market analysis!
Probate and the Executors Responsibility
Probate is the legal process that determines how the deceased assets are distributed. If the individual had a will there is an appointed executor or personal representative. If there is no will a personal representative must petition the court for approval to fill this role.
In addition to paying the bills, the executor or personal representative has a fiduciary responsibility to all the of the beneficiaries of the estate. This includes protecting the assets of the estate until they are distributed to the heirs. One of the biggest assets of the estate is the real estate. Protecting this asset may include maintenance and repair work. How does the executor decide what repair and maintenance work is in the best interest of the estate? Legally you must safeguard the deceased property. Your responsibility is not to make money. It is to avoid loss or damage. So you must assess the real estate and decide what needs to be done to maintain the value and protect the property from deteriorating. This may include paint, new roof, plumbing work, electrical work, lawn care and landscaping; just to name a few. You also need to decide if the real estate needs to be sold. As a certified probate real estate specialist, I am qualified to assist you in making these decisions and to sell the estate when necessary. I also help with clean outs and answering your real estate questions. Call me! 610-327-4626
Upcoming Event Assessment Appeal Deadline August 1st
When is the last time you checked your real estate tax assessment? I just checked mine the other day. As a real estate professional I am ashamed to say, it is much higher than it should be! Checking the assessed value it something I new I should do….but never got to it. My home is worth approximately $115,000. The current assessment indicates a value of $151,000. Now that i see how high it is, I need to take action. I have the paperwork to file for an assessment appeal. If successful in reducing my assessment I could save over $1100 in property tax each year. It’s well worth the day in court! The deadline to file for an appeal is August 1st. If you would like me to review your assessment give me a call! 610-327-4626