Real Estate Information Archive

Blog

Displaying blog entries 1-10 of 204

Wichita Falls Real Estate April 2013 vs. April 2014

by Ashton Gustafson

Wichita Falls Real Estate Report Is Here!

by Ashton Gustafson

It is here!! The just now published Wichita Falls Annual Real Estate Report is in the marketplace. This terrific, useful data was the brainchild of Ashton who spent countless hours in research of this information. It was made whole by our friend, Patrick Kemp, at Three Leaf Creative. You should be able to access it as an attachment today by clicking here.

The magazine in print will be mailed to 3500 households and will be available from us or at various locations around the city. Call if you seek one.

Spring definitely found us this weekend. It was a gorgeous weekend enhanced by the various trees and flowers in bloom. Did you notice the attractive red bud trees, the colorful tulips, the pear trees, etc. Many gardeners are now planting tomato plants, pepper plants, herbs, etc. Water sources are so vital. Please, let’s all continue to pray for rain.

The March real estate market has been solid, not overwhelming. This type of activity seems like it will be predominant in 2014. That is solid, but not great.

Thank you very much for believing in the Bishop Group. We appreciate all of you.

Information on Capital Gains

by Ashton Gustafson

Home Selling 101: Capital Gains

For those who sold their home this year, it's important to understand how selling your home may impact your tax returns, now that tax season is upon us.  The following information explains how capital gains work for those who have recently sold a home.

If you sell your primary residence, you may be able to exclude up to $250,000 of gain – $500,000 for married couples – from your federal tax return. To claim the exclusion, the IRS says your home must have been owned by you and used as your main home for a period of at least two out of the five years prior to its sale.

There are a few catches: You also must not have excluded gain on another home sold during the two years before the current sale. However, special rules apply for members of the armed, uniformed and foreign services and their families in calculating the 5-year period.

If you do not meet the ownership and use tests, you may use a reduced maximum exclusion amount. But only if you sold your home due to health, a change in place of employment, or unforeseen circumstances.

An extra perk? If you can exclude all the gain from the sale of your home, you do not report it on your federal tax return. If you cannot exclude all the gain, or you choose not to, you must use Schedule D of Form 1040, Capital Gains or Losses, to report the total gain and claim the exclusion you qualify for.

How about for those with more than one home?

You can exclude the gain only from the sale of your main residence. You must pay tax on the gain from selling any other home. If you have two homes and live in both of them, your main home is usually the one you live in most often.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

Ashton Gustafson 
ashton.gustafson@gmail.com 
Bishop Realtor Group 
Office: 940-691-7355 
Mobile: 940-224-0881 
http://www.texomahomesource.com/
 

Tax Tips for Wichita Fals Home Sellers

by Ashton Gustafson

Tax Tips for Home Sellers

Tax season is approaching fast, and for those who sold a home this year, it's important to start thinking about how this may impact your taxes. Below are several of the need-to-know facts about tax season for home sellers.

Under $250,000? You may be able to exclude gains. Just because you profited on your home sale does not mean you have to pay taxes on it. In fact, if you're eligible to exclude your gains, you don't even need to note that you sold your home at all when you file.

To be eligible, you need to have made a profit of less than $500,000 on a joint return or $250,000 on an individual return, and the home must have been your primary residence for at least two years prior to sale.

You may not have to report your home sale at all. If you can exclude all of the gain--meaning it was under 500,00 on a joint return or $250,000 on a single--you probably don’t need to report the sale of your home on your tax return at all. Double check this with your accountant, but this is the case in most situations.

But you can't deduct your losses. While it's great you can exclude financial gains, you can't deduct financial losses, which is unfortunate.

The more homes, the more complicated tax-time can be. Several complications can arise from owning more than one property, be it an investment or vacation home. The home you live in the majority of the time is considered your primary residence. This is important because it's necessary for you to report any gains you may have made on your second home.

If you can't exclude gains...If you can’t exclude all of the gain because it was over the allotted amount, or you choose not to exclude it, then you will need to report the sale on your tax return. Keep an eye out for Form 1099-S, Proceeds From Real Estate Transactions.

If you’re selling your first home...One more reminder about selling your home and tax season: special rules may apply when you sell a home for which you received the first-time homebuyer credit.

Keep in mind that tax time can be stressful and busy, so it's always a good idea to have a professional look over your paperwork if you had an unusual financial year.

Ashton and Denny - Christmas TV Show

by Ashton Gustafson

How to Reduce Expenses By Going Green At Home

by Ashton Gustafson

Going green isn't just for environmentalists anymore ... it's for all homeowners who want to save thousands when building a new home or updating their current residence.

There are a variety of ways to make your home more energy efficient, from simply switching to Compact Fluorescent Light Bulbs (saving about $30 or more in electricity costs over each bulb's lifetime), to installing solar panels (saving up to $2,500 on an average home's annual utility bill).

According to the Appraisal Institute, for every dollar saved on a property's utility bill, a home's appraised value increases about $20.

The following are green suggestions, along with the savings homeowners may incur in the process:

Lower utility bills. Appliances, insulation, windows and heating systems all have the ability to be energy efficient. By upgrading everyday appliances to energy efficient models, such as Energy Star, homeowners can expect a minimum of 10-15 percent savings on their electricity bills right away. What's more, tax credits are available at 30 percent of the cost, up to a $1,500 lifetime limit, for installation of these products in 2010 - for existing homes only: windows and doors, insulation, roofs (metal and asphalt), HVAC, water heaters (non-solar), and biomass stoves. Installation costs may even be included as part of the tax credit calculation for certain HVAC, water heater, and biomass stove installations.

Materials matter. Outside the home, recycled plastic lumber and wood composite materials reduce reliance on chemically treated lumber and durable hardwood for decks, porches, trim and fencing. Inside the home, when it comes to flooring, next to natural wood, greener flooring choices include low-VOC (volatile organic compounds) carpets for better indoor air quality, laminates that successfully mimic scarce hardwood, and linoleum, a natural product making a design comeback.

Control your environment. Install a programmable thermostat to set your heating and cooling equipment to automatically turn on or off to match your schedule and create a comfortable and energy-efficient living environment. These units typically offer savings of 10 to 15 percent and cost anywhere between $40 and $100.

Think outside of the box. Not all greening is done within the walls of the home. Thanks to the Wind, Solar, Geothermal and Fuel Cell Tax Credit (Tax Code Section 25D), tax credits are available at 30 percent of the cost, with no cap through 2016 (for existing homes and new construction) for Geothermal Heat Pumps (use the earth as a source of heat in the winter, or as a coolant in the summer), Solar Panels (use light energy from the sun to generate electricity), Solar Water Heaters, Small Wind Energy Systems, and Fuel Cells. More detailed information on Solar Energy can be found at the American Solar Energy Society website:www.ases.org.

Conserve Water. This includes both inside and outside. Toilets, showers and faucets account for 60 percent of water usage in the home, according to the EPA. Green efficiency experts recommend that homeowners install low-flow showerheads, for example, which will save on water heating and use. Repair water leaks in tubs, showers and sinks. Replacing household appliances like dishwashers with more efficient models can save 11,000 gallons of water per year.

Lastly, when looking to upgrade your home, keep an eye out for the Manufacturer's Certification. This is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit. The IRS encourages manufacturers to provide these certifications on their website to facilitate identification of qualified products. Tax payers must keep a copy of the certification statement for their records, however, they do not have to submit a copy with their tax return.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

Ashton Gustafson 
ashton.gustafson@gmail.com 
Bishop Realtor Group 
Office: 940-691-7355 
Mobile: 940-224-0881 
http://www.texomahomesource.com/
 

1706 Eagle Ridge Just Listed!

by Ashton Gustafson

1706 Eagle Ridge


Welcome to a stunning Stan Mountain custom home overlooking Canyon Trails with a gorgeous salt water pool. Amenities include: soaring ceilings, hardwood floors, gorgeous tile, hand painted 3D stenciled walls, class 5 granite throughout, copper sinks throughout, gourmet kitchen with stainless appliances - 6 burner stove - pot filler, luxurious master bedroom and bathroom, knotty-alder doors, crown moldings, over-sized utility room, stoned gas fireplace, charming study, formal dining, tankless water heater, 2 HVAC units with 4 zones, balcony, and a marvelous view.

 

Other Amenities Include

  • Stunning Stan Mountain Construction
  • Charming front door with peep door.
  • Stucco/Brick construction and composition roof.
  • Charming study located off of front door entry.
  • Knotty alder doors throughout.
  • Formal dining located off of kitchen and front door entry.
  • Soaring ceilings.
  • Beautiful hardwoods and tile work.
  • Stoned fireplace with gas logs.
  • Wonderful built-ins.
  • Gourmet kitchen offers 6 burner stove, stainless appliances, double convection ovens, and more.
  • Copper sink is anti-bacterial and extremely sturdy.
  • Kitchen also offers: pantry, class 5 beautiful granite, island, custom cabinets, pot filler, and more.
  • 3D Stenciling on walls.
  • Stained crown moldings.
  • Isolated master bedroom with access to the backyard and pool.
  • Luxurious master bathroom with his/her sinks and magnificent walk in closet.
  • Master bathroom offers: copper tub, over-sized tiled shower, granite, and floor heaters. 
  • Study nook located upstairs between beds 2 and 3.
  • Bedrooms 2-3 share hall bath with tub/shower, custom tile work, and granite.
  • All bedrooms have wonderful closet space.
  • Balcony off of bedroom 3 offers amazing views overlooking Canyon Trails.
  • Over-sized utility room off of garage hallway has sink, ample cabinets, and space for washer/dryer.
  • Salt water pool completes the backyard with incredible views.
  • Privacy fence and covered patio.
  • Backyard does not face west which makes evenings very pleasant.
  • Dog run in backyard.
  • 2 HVAC Units with 4 Zones.
  • Tankless Water Heater.

Local Realtor Earns Most Prestigious of all Industry Achievements


Reaching the pinnacle of his profession nationally, Ashton Gustafson of Bishop Realty Group was today accepted as a Member of the Top 5 in Real Estate Network®, the most prestigious of all industry achievements.

 
More than just a sales-driven recognition, the Top 5 in Real Estate Network meets a need that heretofore has never been addressed – helping consumers identify the most professional real estate agents in North America. To qualify, each member must first meet a stringent set of criteria, based upon performance, as well as educational and professional skills and service to the consumer.
 
The Top 5 Network is carefully selected and managed by RISMedia, which has provided the real estate industry with objective, unbiased news for nearly 30 years, and Pinnacle Quest Consulting, RISMedia's Top 5 management partner.
 
Verl Workman, the President of Top 5, congratulated Ashton Gustafson for earning this top status within the industry. "Ashton has reached the very highest level of North America's residential real estate industry. Not only are his professional accomplishments extraordinary, he has long been a true champion for homebuyers and sellers in his area. It is a pleasure to welcome Ashton into this elite group of industry leaders."
 
According to John Featherston, Chairman of RISMedia, the significance of Top 5 in Real Estate is that consumers deserve full transparency regarding all matters related to the real estate transaction, which often begins with the need to select a highly competent, experienced and results-oriented real estate professional. Top 5 in Real Estate has been established to both empower consumers with leading real estate content through Top 5 members, as well as to ensure that consumers are made fully aware that there is a material difference between average and exceptional real estate professionals.
 
Real estate professional Ashton Gustafson is dedicated to offering unparalleled service to his buyer and seller clients. Having taken the real estate industry by storm—and creating quite a buzz while doing it—Gustafson is known by many as "The HOMEboy," his version of a REALTOR®/real estate agent. Passionate about challenging the status quo and changing the world as we know it, Gustafson is in the early stages of producing world changing real estate, marketing, writing and speaking careers. Gustafson was awarded the Rising Star Award by the Wichita Falls Association of REALTORS® in 2008, named Texoma's Best Realtor in 2012 by the Times and Record News, and has earned the prestigious Certified Residential Specialist (CRS), Certified Distressed Property Expert (CDPE) and Certified Investor Agent Specialist™ (CIAS) designations. Gustafson has been accepted to serve as a member of the Top 5 Advisory Council and, as a 2010 "30 Under 30" Realtor Magazine Honoree, will add tremendous value as more of the younger agents reach the ability to qualify for Top 5 recognition. To learn more, contact Ashton Gustafson at 940-691-7355 or email ashton.gustafson@gmail.com.
 
For more information on RISMedia's Top 5 in Real Estate Network®, please visit www.top5inrealestate.com or contact Member Services at 203-853-2167 ext. 137.
 
RISMedia's Top 5 in Real Estate Network® is a membership network of leading real estate professionals providing leading real estate information to consumers. To qualify for recognition in the Top 5 in Real Estate Network, agents must meet specific criteria in five key categories: C-R-E-E-D; Commitment to community; Results; Experience; Education; and Digital Savvy (effective use of information technology.) RISMedia, the leader in real estate information systems, has been providing the industry with news, trends and business development strategies for nearly 30 years through its flagship publication, Real Estate magazine, its leading website, RISMedia.com, and its renowned networking and educational events.

603 Main St. in Byers Just Listed

by Ashton Gustafson

603 Main St.

 

Welcome to a fabulously restored property in the heart of Byers, TX. Located on Main Street, this property takes a historical small-town Texas building and turns it into contemporary residential space with 3 bedrooms, 2 baths, and 1-car garage. Fabulous open floor plan with stained concrete flooring, exposed brick walls, and soaring ceilings. Living area consists of living room, dining area, game room area, and contemporary kitchen with stainless steel appliances, Center Island, and oversized pantry. Luxurious master suite has access to the backyard. Master bath has Jacuzzi tub plus walk-in shower with rainfall shower head. Secondary bedrooms are generous in size and share a hall bath with tub/shower combination. Large utility room is off the attached garage. Open backyard with covered area.

 

 

 

5608 Ross Creek Just Listed

by Ashton Gustafson

 

       5608 Ross Creek


Welcome to a wonderfully kept  and recently built 4 bedroom home in
Bluebonnet Park. Amenities include: spacious living area, fresh paint,
great storage, lovely kitchen with granite counter tops, stainless
steel appliances, huge isolated master with luxurious bathroom, dining
space off of kitchen, office space off of kitchen, utility room,
fireplace, and more. Bedroom 4 is currently used as play area, but
could easily be an office or another bedroom. If you're looking for
something move in ready - this is it.

 

Other Features Include:

  • 4 bedroom in Bluebonnet Park.
  • Tiled entry with tall ceilings.
  • Well kept and landscaped.
  • Open and spacious living area.
  • Great kitchen space with granite counter tops.
  • Stainless appliances in kitchen.
  • Dining/breakfast area off of the kitchen.
  • Kitchen offer serving bar area as well.
  • Office nook off of the kitchen.
  • Utility room is off of garage entrance.
  • Great storage space.
  • Huge master bedroom luxurious master bathroom.
  • His/her sinks in master bath along with shower and jacuzzi tub.
  • Beds 2, 3, and 4 share hall bath.
  • Bed 4 currently used as office space could be office or 4th bedroom.
  • Gas fireplace in living room.

 

Displaying blog entries 1-10 of 204

Contact Information

Photo of Ashton Gustafson Real Estate
Ashton Gustafson
The Bishop Realtor Group
1916 N. Elmwood Ave.
Wichita Falls TX 76308
Office: 940-691-7355
Fax: 940-691-7363