THE END OF THE YEAR IS NEAR!
Here are some great incentives to buy and sell before the end of the year from Realtor.com.
Closing on your new home by Dec. 31 means you can deduct mortgage interest, property taxes and points on your loan on your income tax return. You can also deduct the interest costs associated with a home equity loan. These deductions are significant, especially in the early years of your loan when you are paying off so much interest.
Sellers might be more motivated. Many sellers will also be anxious to sell by the end of the year so that they, too, can enjoy tax savings on the next home they purchase. That means you may have more leverage during negotiations and they may be willing to accept lower than their listing price. However, if you’re in a strong seller’s market, you’ll want to be conservative — and always heed the advice of your real estate professional.
If you’re buying a new house, there’s a good chance builders will be offering incentives. Many builders will throw in nice little extras to sell as many houses as they can by the end of the year.
Generally speaking, your housing choices during the fall are still healthy. By December there are traditionally fewer houses on the market. October and November are great months to go house hunting. Especially Farms. Those involved in the horse industry know that the months preceding HITS are the “hottest” months to sell & buy equestrian property in Ocala.
It’s easier to move. Many moving companies are booked six or so weeks in advance during the busy summer months. In the fall and winter it’s normally easier to secure the services of a moving company or rental equipment on shorter notice.
Home for the Holidays
A new home for the holidays. The holiday season is a great time to celebrate your new home with family and friends.
by Michele Dawson http://www.realtor.com/home-finance/real-estate/buyers/year-end-buying-home-benefits.aspx
Read more great articles in our November Showcase Newsletter.