TxFamily.com: February 2018

Monday, February 26, 2018

Fair Skies on Horizon

Buyers who have been concerned about what might happen to the tax laws affecting home ownership should feel more comfortable about moving forward with their decision to purchase. The 2017 Tax Cut and Jobs Act passed by Congress and signed by the President continues to treat real estate as a favored investment.

Whether it is for a home to live in as your principal residence or to use as rental property, the tax laws are in place but other dynamics to be concerned with are not; mortgage rates are expected to rise as well as prices.

Reasons to buy now:

The mortgage interest deduction is intact for most taxpayers.
The capital gain exclusion for principal residences up to $500,000 remains in place.
Taxpayers can elect annually to take newly increased standard deduction or itemize deductions whichever will benefit them the most.
The house payment with taxes and insurance is most likely cheaper than the rent.
Rents will continue to rise making the difference even greater in the future.
Lock-in the principal & interest payment with a fixed-rate mortgage.
30-year mortgage terms are available to most borrowers.
Prices will likely increase due to lower inventories and several years of low housing starts.
Section 1031 exchanges, capital gains and depreciation remain the same for rental properties.

For a summary of specific real estate provisions in the 2017 Tax Cut and Jobs Act, click here.

Texas law requires all real estate licensees to give the following information about brokerage service click here

Wendy Huang, MBA,SRS, GRI, CRS, IRES, e-pro, ASP, ALHS, SFR, RFC, RE/MAX Premier Group, RE/MAX Hall of Fame,

RE/MAX Lifetime Achievement ; Over 22 years' experience!

Helping Over 1000 Families Meet Their Real Estate Needs !!!

Direct: 972-365-7888

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Monday, February 12, 2018

The "Right" Agent and the "Right" Home

Some buyers think that finding the right home is the critical part of the buying process and that is how they determine which agent to use. While it is important, there may be a broader skill set to consider when selecting your real estate professional.

The most recent NAR Profile of Home Buyers and Sellers indicate that 52% of buyers do want help in finding the right home to purchase. There was a time when the public did not have access to all the homes on the market, but the Internet has changed that.

Helping to negotiate the price and terms of sale were identified by almost 25% of the buyers. No one wants to pay more than is necessary and the terms of the sale can be as important as the price.

The next largest area of assistance that buyers value has to do with financing and the paperwork. Even if a buyer has been through the process before, it very likely could have been several years and things have probably changed.

Since the cost of housing is dependent on the price paid for the home and the financing, a real estate professional skilled in these specialized areas can be very valuable in finding the “right” home. An agent’s experience and connections to allied professionals and service providers is equally important.

Ask the agent representing you to specifically list the tools and talent they have available to address these areas.