1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home.

2. Gains. Between 1998 and 2002, national home prices increased at an average of 5.4 percent annually. And while there’s no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORS found that a typical homeowner has approximately $50,000 of unrealized gain in a home.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your mortgage payments don’t go up over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will rise.

6. Freedom. The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

To calculate whether renting or buying is the best financial option for you, use this calculator courtesy of Ginnie Mae:

http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?Section=YPTH

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®

Copyright 2005. All rights reserved. www.REALTOR.org/realtormag

One thing is always true - you never get a second chance to make a first impression. That is why the first impression your buyer has of your home is critical to how the whole transaction goes, or even if a transaction will take place.

What is the first impression your buyer has of your home? Is it inviting? In good repair? Clean? Attractive?

Buyers tend to judge homes by cost and "move-in" quality: the less they have to do to move-in, the better and the more they are willing to pay. A home that looks like it needs lot of work will cause the buyer to make a lower offer or none at all.

What can you do to assure that your home makes the best first impression?

• Polish the front door knob, wash the glass/door and sweep front step area.
• Clear away any debris or clutter from front door, inside and outside area to make entry to home seem more spacious and to allow freedom of movement for more than one person.
• Switch low-watt bulbs to high-watt bulbs while selling, and turn all lights on (even for daytime viewings).
• If you are at work during the day, leave a radio on and turn on a couple of lights to make your home even more inviting.
• Pack anything you will not use between now and moving day. Store boxes out of the way of traffic areas.
• Rearrange furniture so as to make rooms look more spacious, and to create areas that are easy to pass without knocking over ornaments, etc.
• Open dark drapes or blinds to lighten and brighten rooms.
• Play nice background music so buyers feel free to speak without being overheard.
• Make a list, for your own agent, of all the reasons this home appealed to you when you bought it. This will be a helpful tool when re-selling it.
• Keep perfumes, air fresheners and smoke to a minimum, as many people today have life-threatening allergies.
• Keep kitchen sparkling clean - and counters free of medications and anything that small children could accidentally get their hands on while visiting during the time their parents are in your home (safety first).
• Valuables such as jewelry, money, valuable figurines - should be kept out of easy reach or put away completely while selling your home; also, collectibles such as weapons, guns, knives or anything that may be dangerous.
• An agent should be present at all showings. Do not invite complete strangers into your home. Just because your home is on the market, it is not an open-door invitation to the public to arrive unannounced. Call your agent.
• Now after doing all that, pretend you are a buyer and that you have never seen your home before. Would you buy? Why not? If you have any “why not's” left, take the time to fix them.

If you think you need help presenting your home at its best, there are "staging" services that can help. Your real estate professional may know of one in your local market. A stager will do everything from completely moving out your belongings and installing new furnishings temporarily, to painting the walls and making cosmetic repairs, to simply rearranging your things in the most attractive manner and to facilitate "room flow." You can also create a favorable first impression by getting an inspection performed on your home. This will not only bring attention to problems the home may have, which will assist you in making your disclosures and enable you to make repairs, it will give you a working list to complete before your buyer can find the problems.

Your buyer is sure to be impressed, and will know by the condition and care of the home, that your top-dollar asking price is more than fair.