The Woodlands Real Estate

There are a lot of programs out there to help the individual consumer prepare his own taxes. There are, however, a few things that everyone should beware of when choosing to not hire a professional to prepare your taxes.
1. Overstating charitable contributions: If you contributed to charities througout the year, keep your receipts so you can calculate exactly how much you donated.
2. Incorrectly deducting your mortage points: “Points” are charges that you may have paid in the process of getting a home mortgage. Visit IRS.gov or call your lender to see if you qualify for a deduction.
3. Excluding small interest payments: Even for interest amounts of less than $10, an omission here can make the IRS think that you may have forgotten to declare other things.

Interesting Tax Fact: In 1940, instructions for FORM 1040 were two pages long. Currently the instructions for Form 104EZ are nearly 40 pages long…how EZ can it be?

Its almost tax season again! You have probably been seeing the statue of liberty waving at you from street corners trying to coerce you to come get tax help at their corner shop! Lets be honest; no one likes paying taxes, however, the more prepared you are now, the fewer surprises you’ll experience come April 17th.
Did you know that the Internal Revenue Code contains more than 1.4 million words, making it twice as long as the King James Bible? Wow! There is a lot to know about taxes. Keepting important information and receipts all together will save you time and hassle.
Did you have a major life change in 2011 – a new house? a new marriage, divorce, baby? You may need to file a new W-4.
Did you donate to a charity? Be sure to keep records of the donations to claim the deduction on your taxes.
Did you move in 2011? Update your mailing address with your employers, clients and instituations that hold your investments and bank accounts. If the forms have already been sent, contact the companies and ask them to send you a copies through the mail, fax or email.

Individual taxpayers spend 3.5 billion hours each year doing their taxes and 60% of Amercians have a preparer deal with their taxes. Either way, be prepared and you will avoid confusion and save on man hours!

Thinking about buying a home can be a bit overwhelming if you don’t know the steps to take to get there. Here are some essential tips for aspiring home buyers.
1. Find a Real Estate Agent. This is key because you will need to work with a realtor whom you trust and who can give you the information and knowledge you need to get the most out of your home buying experience. Remember that as a buyer you do not pay your realtor, the seller takes care of that. It is still essential that you team up with a professional who can truly help you get the job done, and done right!
2. Finding a good lender is as important as step #1. You will need to meet with your lender up front to discuss your financial situation and to get yourself pre-approved for a home loan. This will be based on your credit history/score, your debt to income ratio, your employement and a few other things. This will determine how much you will put down and most importantly what is your price range.
3. Shop Smart. You should expect to pay more for a showcase home. If you are looking for a fixer-upper, be sure to closely judge the structural difficiencies more harshly than cosmetic flaws. Location is also the key. Even if the location seems perfect for you, take into consideration the pool of buyers to whom it will appeal if you decide to sell it in the future.
4. Go for it – buy your house! To write a winning offer without overpaying you need to do your homework via your real estate agent. Consider if the property is in high-demand or if there is plenty of competition. Find out from your agent what comparable homes have sold for in the area in the last 6 months, looking at the sold price/sq.ft. Also remember factors such as close date or other terms to make the offer more appealing without spending more money.

If you or someone you know is considering buying a home and would like more information on neighborhoods or specific properties, give The Chappell Team a call today! 281-863-9134

Putting a home on the market can be stressful, and some owners have a hard time making objective decisions when it matters most. Here are some essential tips for sellers, and make sure you lean on your trusted real estate agent for guidance and direction.
1. Price it Right! Your listing agent should do a market analysis for you so you can closely look at comparable homes in your market that have sold within the last 6 months. You will also want to take into account the number of available listings when deciding on a price.
Keep in mind:
- Homes my fail to attract buyers because they are overpriced.
- Foreclosures and Short Sales in your area may be impacting your sales price
- Remember that your home will need to appraise for the sailes price
2. Take advantage of your Market Debut! Pricing your home correctly from the get-go increases your odds of a quick sale.
Keep in mind:
- Most buyers look at homes online first and New Listings get 4x’s more web traffic than homes that have been on the market for a while.
- There is a reason new listings are referred to as ‘hot’…buyers get excited about them. Showings may cool off after the first 30 days on the market.
- When considering an offer, make sure you consider the cost of holding on to the property longer than you want and/or need to. Costs will include extra mortgage payments, property taxes, insurance, utilities etc.

If you would like a free market analysis please call The Chappell Team today! 281-863-9134

Although part of our daily lives, many common products kept in and around the house contain materials that are bad for the environment and are hazardous for our health. Heavy metals or chemicals that are known to be toxic, corrosive or flammable are hiding within some pretty common items in our homes.
Mercury is an extremely toxic element found items such as compact fluorescent lamps, tubes, thermostats, thermometers and batteries. It can damage the brain, kidney and lungs and impair the normal development of the brain and nervous system in fetuses or young children. Do not throw used batters or CFLs in the trash. To prevent toxins from releasing into the air, soil or water, contact your local public works department or go to earth911.com for disposal information.

Other hazardous household items include:
All Purpose Cleaners, Disinfectants, Drain Openers, Furniture Polish, Oven Cleaners, Oil-Based or Latex Paint, Varnishes, Solvents & Thinners, Glues & Adhesives, Tires, Car or Boat Batteries, Antifreeze, Car Wax, Tv’s/Video Players, Computers/monitors, Microwaves, Wireless Phones, Gasoline or Diesel, Lighter Fluid, Kerosene, Propane Canisters, Cooking Oil, Fertilizers, Pesticides, Pool Chemicals, Nail Polish/Removers with Acetone, Aerosol Cans (not empty), Medical Waster, Over-the-counter and Prescription Drugs.

Drop these items off at dedicated hazardous materials facilities or retail establishments that serve as collection centers for certain types of used goods. Most communities also host a collection serveral times a year.

According to the Wall Street Journal (7/11/11) over 35% of all American cell phone owners have a smart phone. 1 in 4 of that 35% use their smart phones to conduct almost all of their online activities (as opposed to just using it to access the intertnet daily). The 1 in 4 figure is expected to contiue to grow.

With today’s technology we can carry our favorite pics, books, music, videos, documents, calendars and connect with loved ones and collegues all from the touch of one hand-held device. That being said, here are the top mobil gadgets for 2012 to help us take our smart phone use to the next level!

- Apple iPhone 4S, BlackBerry Bold 9900, Samsung Galaxy Nexus
- Apple iPad2, Samsung Galaxy Tab, Amazon Kindle Fire
- Amazon Kindle, SonyReader, Barnes&Noble Nook Color

Bad news often garners a disproportionate share of media attention. With 24/7 access to global news flow, we’re just a touch of a screen or button away from the latest woes in the world. However, with so much attention focused on “bad”, a significant good-news story may have been widely looked over: The U.S. economic engine appears to be revving up. We thought it might be helpful to highlight some of the good news you may have missed.
• Employment Outlook(1)
– The U.S. unemployment rate fell to 8.6% in November,
reaching a 2½-year low.
– Weekly jobless claims fell to 366,000, reaching their
lowest level since May 2008.
– The ADP employment survey showed the biggest gain in
eight months. Small businesses (under 50 workers and
construction firms) added the most jobs in five years.
– 1.6 million jobs have been created over the past year.
– An average of 150,000 private sector jobs have been
created each month for the past year.
• Manufacturing – November’s Institute for Supply
Management (ISM) manufacturing index increased
to a five-month high, while more recent regional
manufacturing reports also beat expectations.
• Home Sales – Sales of existing single-family homes rose
1.6% in October compared to September, versus expectations
for a 2.2% decline.(2) Sales were up 13.5% versus a
year ago. Total housing starts also grew 16.5%, while
building permits increased 17.7%.(3)
• Consumer Confidence – The Conference Board’s
Consumer Confidence Index jumped to 56 in November
versus 40.9 in October. This exceeded even the most
optimistic forecasts and marked the biggest one-month
increase since April 2003.(4)
• Auto Sales – U.S. vehicle sales grew 14% in November,
the sixth consecutive month of growth and the highest
level since August 2009.(5)
• Retail Sales – Consumer spending remains relatively
healthy, with retail sales flat or positive for the last
17 consecutive months. Sales growth has beaten
expectations in two of the past three months.(6)
• Dividend Increases – Through Dec. 13, 333 companies
in the S&P 500 increased or initiated a dividend for 2011,
up from 256 in 2010 and just 157 in 2009.(7)

(1) Bureau of Labor Statistics
(2)National Association of Realtors
(3) National Association of Home Builders
(4) Conference Board
(5) Autodata
(6) National Retail Federation
(7) Standard & Poor’s