Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

 

5 Tax Perks Homeowners Should Know

Homeownership tends to come with benefits. But some of the most appealing (at least financially speaking) are the tax perks.

Once you become a homeowner, you qualify for a number of deductions, credits and other tax breaks you couldn’t have previously, and they could save you a significant amount of money — or result in a bigger refund.

Are you a new homeowner or thinking of buying a home this year? Here are some tax benefits you have to look forward to:

  1. Mortgage Interest Deduction: As long as you itemize your returns, you can deduct the interest you pay on up to $750,000 in mortgage loans.

  2. Energy Update Credit: Making your home more energy-efficient can also qualify you for various tax incentives. You can check online to see what you may be eligible for.

  3. Home Office Deduction: If you’re working from home, you can also write off home office costs. There are some caveats to this one: It must be an area exclusively used for work, and it needs to be your principal place of business. Talk to your tax preparer to make sure you qualify.

  4. Capital Gains Exclusion: When you sell your home, you don’t have to report the profits as income, as long as those profits fall under $250,000 (if you’re single) or $500,000 (if you’re a couple).

  5. Property Tax Deduction: You can also write off your property taxes up to $10,000. Much like mortgage interest, you have to itemize your returns to do so.

Depending on your situation, you may be able to take advantage of other tax benefits. Be sure to talk to an accountant or tax planner for guidance.

Not yet a homeowner but ready to take the leap?

Sept. 16, 2021

Investment Loan News

<a title="FHFA Suspends Second Home, Investment Loan Limits" href="http://www.mortgagenewsdaily.com/09152021_gse_conservatorship.asp">FHFA Suspends Second Home, Investment Loan Limits</a>

Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates