Housing Market Changes Affecting Homebuyers And Sellers

Homebuyers and sellers could feel significant effects of some recent movement in the real estate market.

U.S. new home sales are up as February sales numbers are at an 11-month high. This could be due to lower mortgage rates — as the average 30-year fixed rate fell to 4.06% for the week ending March 28. A year ago it was 4.4%.

For sellers, April is the hottest time of the year to list your property. List it next week and realtor.com says you’ll likely get 14% more online views and sell your home six days faster than any other time of the year.

With tax day right around the corner, owning real estate can impact your taxes. Homeowners in metro areas of rural states tend to pay less in real estate taxes. In more densely populated urban states, property taxes can be up to double the average U.S. rate. Homeowners who have high property taxes, mortgage interest or insurance could save by itemizing their tax return rather than taking the standard deduction. This isn’t usually the case, especially given the newly implemented $10K SALT cap. Under this new change, property owners can no longer itemize state and local property, income and sales taxes in full on their tax returns.

Natalie Mayrath

Producer/Reporter

Yahoo Finance March 29, 2019

About the Author

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sjones

Steve Jones was drawn to McCall for the big western recreation. He began his real estate career in McCall at Spring Mountain Ranch in 1997 where he had the opportunity to hone his knowledge of second home real estate among seasoned consultants and real estate trainers.Twenty 22  years into his real estate career, Steve shines in finance, marketing, and technology, and is well-connected in the local community. As the founder of Cascade Raft Company on the Payette River in 1985, Steve developed a comprehensive perspective on tourism travel and vacation aspects of the second home market. He uses email to keep clients informed of new listings, maintains our own website, and uses his skills as an amateur photographer to enhance visuals online.He also creates virtual tours on Youtube for easy client accessibility. Steve understands how to present a home on the internet and manages a real estate blog, a Facebook page, and a monthly e-newsletter, reaching a wide market of potential buyers and sellers. Steve is a charismatic story teller with a vibrant sense of humor.His experience on the film sets of River Wild and Almost Heroes (where Steve and Cindy worked together) gave Steve experience with logistical planning, marketing, and commercial production. Steve brings real estate to life with innovative strategy and an unparalleled energy.We are now in our 22nd year in Real Estate and look forward to helping Buyers and Sellers in every step of your real estate needs.