Are you considering a move? Whether it is to upgrade for more space and a growing family or downsize to accommodate changes in your life, now is the season. This summer we saw the demand for real estate go up along with rising home prices. This is good news. It has been reported that millennials are just beginning to come into the buying arena which should keep sales strong through 2020. Freddie Mac, Fannie Mae and the Mortgage Bankers Association all have the same narrative on the Real Estate Market.
With mortgage rates at such a low level, home purchases are much more affordable than ever before. There are a variety of programs available to accommodate a vast range of home buyers.
If you have lived in your home for two or more years and you are interested in selling, subsequently making a profit off the sale, you are not responsible for the taxes on the gain if it is under $500,000 (for a couple), and $250,000 (for an individual).
The Presidential Elections are coming to a close and the current status of the real estate tax exemption clause is up in the air. The beginning of 2017 holds much newness for us all. With that, we have to be prepared for interest rates to rise.
What can you do? Well, remember that “honey dew” list that keeps growing while nothing manages to get checked off? No more procrastinating, the time is now. The weather is perfect for repainting faded block walls, interior walls that need touch ups where little hands left scuffs, and back splashes that show your overzealous love of cooking. Deep clean carpets that need your TLC. Hang up window treatments on the empty rods that have been hanging empty for months. Clean out and organize your garage. Utilize the benefit of bulk pick up coming soon, October 19th! In addition, our small hometown Verrado’s Garage Sale is on November 5th. All these enhancements and opportunities will be to your benefit for a solid beginning in the real estate market.
So without further adieu this is “last call”, get off the couch…. the Cardinals aren’t doing that well and get out there to enjoy these beautiful temps and paint that fence! And, as the great Hall of Famer Yogi Berra used to say, “The future ain’t what it used to be”!