Our “Building a Secure Future: Estate Planning and Real Estate Workshop” is planned for Thursday, August 24, 2023 and will be held from 11 AM – 1 PM. This FREE event will be held at the American Legion Post 598 at 5700 Kentshire Drive, Kettering OH 45440. Please reserve your seat in advance so that we can adequately be prepared with Refreshments and Hand-outs!
We have Attorney, Nancy Ann Roberson of Roberson Law to speak about Estate Planning and to answer YOUR QUESTIONS on Building a Secure Future! Planning in advance of medical or life-changing situations is KEY to protecting your assets!
Tammy Murphy, REALTOR, will also be available to answer any REAL ESTATE questions, and is proud to HOST this FREE event.
Additional partners will be available to answer questions having to do with LOANS / TITLE / INSURANCE and FINANCIAL PLANNING.
Our “Building a Secure Future: Estate Planning and Real Estate Workshop” is planned for Thursday, August 24, 2023 and will be held from 11 AM – 1 PM. This FREE event will be held at the American Legion Post 598 at 5700 Kentshire Drive, Kettering OH 45440. Please reserve your seat in advance so that we can adequately be prepared with Refreshments and Hand-outs!
Here are a few Helpful Tips to Assist Planning for You & Your Loved Ones:
Start Early: Begin your estate planning process as soon as possible. Don’t wait until it’s too late or you’re faced with an unexpected event. Planning ahead allows you to make informed decisions and ensures that your wishes are carried out effectively.
Define Your Objectives: Clearly identify your goals and objectives for estate planning. Whether it’s protecting your assets, minimizing taxes, providing for your loved ones, or supporting charitable causes, having a clear vision will guide your planning process.
Create a Comprehensive Estate Plan: A well-rounded estate plan typically includes a will, power of attorney, healthcare directives, and trusts. Tailor these documents to your specific needs and circumstances, considering factors such as real estate holdings, investments, business interests, and family dynamics.
Regularly Review and Update: Life circumstances change over time, so it’s crucial to review and update your estate plan periodically. Major life events like marriage, divorce, births, deaths, or significant financial changes may require adjustments to your plan.
Involve Trusted Professionals: Seek the guidance of experienced professionals such as estate planning attorneys, financial advisors, and tax experts. They can help you navigate complex legal and financial matters, ensuring your plan aligns with applicable laws and maximizes your benefits.
Consider Long-Term Care: Incorporate provisions in your estate plan to address potential long-term care needs. This may involve setting up healthcare proxies, living wills, or establishing trusts to safeguard assets and provide for your care in the event of incapacity.
Maximize Real Estate Planning: Real estate is often a significant asset in an estate. Consider how to pass on property to heirs efficiently, minimize tax implications, and explore strategies like gifting, trusts, or establishing family limited partnerships to manage and protect your real estate assets. Working with your Trusted Realtor is a start to ensure timing in the market is maximized.
Communicate with Loved Ones: Openly discuss your estate planning intentions with your family and loved ones. Clear communication can help prevent misunderstandings, disputes, and challenges in the future. It also allows you to address any concerns and provide explanations for your decisions.
Continually Educate Yourself: Stay informed about changes in estate planning laws, tax regulations, and financial strategies. Attend workshops, seminars, or seek educational resources to enhance your knowledge and make informed decisions.
Seek Professional Guidance: While this list provides helpful tips, it’s important to remember that every individual’s situation is unique. Therefore, consult with a qualified estate planning professional who can provide personalized guidance based on your specific circumstances and goals.
It’s great to hear that Montgomery County has experienced a significant increase in property values! A 30% increase to a total property value of $38.1 billion is indeed a substantial growth. Rising home sales records often contribute to an overall appreciation in property values within a region. As our meeting today with Karl Keith confirmed, that is an “historic growth in values”.
Increasing property values can have several implications. Homeowners may see their investments grow and potentially gain equity in their properties. Local governments may also benefit from increased property values as they can generate higher property tax revenues, which can be allocated towards community services and infrastructure development.
HOWEVER, you will be delighted to learn that at least the actual Tax Bill will NOT increase 30%!! You heard me correctly, the tax bill is likely to adjust between 4-6%, based on a value increase change of $100k. Just as in Real Estate, Property Taxes are also based on LOCAL criteria. Understanding what is going on with your home, street and neighborhood AFFECTS that overall Property Value as determined by the Auditors office.
AND, if you are not happy with the findings (which should be mailed to home owners at the end of the year with the final release) – You MAY be able to file a dispute if you have material information that appears to not be reflected. Curious about this process or want help to navigate the way??? This is a service that Tammy offers to clients, so that the deadline to submit dispute application can be met, and then subsequently the review meeting later in the year can be adequately prepared for and presented on your behalf.
We are not alone, of Ohio’s 88 counties, 41 are reporting INCREASED VALUES (with Franklin County reporting the highest gain of 41%!) What this means is that our schools, communities and infrastructures will benefit from the potential increase in revenues earned 😉
Want to learn more about what Karl Keith and the Auditor’s Office do? Checkout their link here: http://mcauditor.org/
The Steps to Buy a House involve several aspects, and here’s a simplified explanation of how it typically works:
Saving for a Down Payment: The first step is to save money for a down payment. This is a portion of the total price of the house that you need to pay upfront. Saving for a down payment might take some time, but it’s an important part of the process.
Understanding Your Budget: Before you start looking for a house, it’s essential to determine how much you can afford. Consider your income, expenses, and any existing debts you have. This will help you figure out a comfortable budget for your home purchase.
Getting Pre-approved for a Mortgage: Unless you’re buying a house outright with cash, you’ll likely need a mortgage, which is a loan specifically for purchasing a home. To get pre-approved for a mortgage, you’ll need to provide some financial information to a bank or lender. They’ll assess your financial situation and let you know how much they are willing to lend you.
Finding a Real Estate Agent: A real estate agent is a professional who helps you find a house that suits your needs and budget. They have access to listings and can guide you through the buying process. Look for a reputable agent who understands your requirements. If you are reading this post – then you are already on the way to finding your Best Realtor of choice! 😉
House Hunting: With the help of your real estate agent, you can start looking for houses that match your preferences. Consider factors like location, size, amenities, and price. Visit different properties, take notes, and ask questions to gather information.
Making an Offer: When you find a house you like, you can make an offer to the seller. Your real estate agent will help you with this process. You negotiate the price and terms of the purchase, including any contingencies (such as inspections or repairs) that need to be met.
Home Inspection: Before finalizing the purchase, it’s crucial to get a professional home inspection. An inspector will examine the house for any potential problems or repairs needed. This will help you make an informed decision about whether to proceed with the purchase or negotiate repairs with the seller.
Closing the Deal: Once you’re satisfied with the inspection results and have secured your financing, you’re ready to close the deal. This involves signing legal documents, including the mortgage agreement and the deed, which transfers ownership to you. You’ll also need to pay closing costs, which include fees for various services related to the transaction.
Moving In: Congratulations! After closing the deal and receiving the keys, you can move into your new home. You may need to arrange for utilities, such as electricity, water, and internet service, and make any necessary updates or repairs to personalize your space.
Remember, buying a house is a significant financial decision, so take your time, ask questions, and seek advice from professionals along the way.
Boxabl as the Future of Housing -presents with a unique housing product that is price / quality and timing sensitive to the current needs in communities… we just need to get our Community Leaders onboard to adjust zoning and permitting to allow the use of this housing alternative.
Knowing that we are now hearing about the “housing crisis” and that there is a shortage of homes for sale across the country, and especially in our local communities – housing alternatives are NEEDED.
Want more information? Ask Tammy for details or feel free to explore with these links:
Participating in the Jobs Ohio Quarterly Update meeting and hearing wonderful news about the progress of our state is an exciting opportunity.
“Ohio is a Special Place” (nothing new to me – of course I already know and believe this!)
The diversity of our state is helping to drive the various job sectors GROWTH, the vibrancy of our communities and the future potential we can take hold of and claim. All that being said, there is a challenge, as Lt Governor Husted stated, “We need to begin to address HOUSING” – and the low inventory levels we have had now for the last four years have added to that need.
It is time for our communities to OPEN their thinking and planning requirements to fast-track the housing process, so that more construction can take place; BUT, it is also time to expand housing alternatives! We must allow alternative housing structures / zoning to include: Accessory Dwelling Units (ADUs); Tiny Homes; Pre-fab / Manufactured Housing; not to mention the ability for multi-generational living and vertical living.
Easy for me to say? YES – because I have been actively working in the industry of Real Estate since 2001. I take this business seriously and know the impact HOUSING has on everyday quality of life, the opportunities it presents to people and more importantly – the impact it has on our communities overall. I care about and want to assist in whatever way possible, so that the right path forward can be forged for all. We have to address the supply of housing to begin to address the cost of housing and the circle of real estate cycles continues!! Why are our communities making decisions about housing WITHOUT having Active Realtor participation? Our Associations and committees would gladly help to answer the questions, direct the focus that is needed and to even participate and volunteer to be included in their discussions – yet many in leadership merely serve their time and pass the buck to the next party. Without an answer to the question of housing – we cannot address the other necessary topics (affordability, homelessness, blighted redevelopment, incoming job growth) all of which should be just as important for community leaders to begin addressing as well 😉
I am not “just a Realtor” I AM YOUR ADVOCATE for property rights and opportunities. I help people to buy, sell and invest in what is typically their LARGEST SINGLE AND MOST EXPENSIVE FINANCIAL ASSETT and I do this with integrity and with the client’s best interest at heart. Seems to me – I might be that person who would be good to have a part of the planning??? At least I am willing to make myself available and help dive into the process with you!
I’ve been talking about topics that are now starting to “trend” but I was saying it LONG before – and I believe alternative housing is going to be the necessary, next thing. Soon I will get to report on a factory tour for a prefab manufacturing facility in our area, and I am planning to venture out West to tour another facility – because I know how important this next step is for people and for our communities. WATCH for updates and I’ll be sure to share my thoughts and findings with you 😉
The real estate brokerage with a heart! Helping you as buyers and sellers in today's real estate market. RH2L is "Real Homes To Love" and your choice for professional real estate services in today's market! Office hours by appointment.
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