How Will The New Tax Changes Impact Cincinnati Real Estate?
The recent changes to the tax law will have an impact on Greater Cincinnati, Ohio and Northern Kentucky real estate and real estate in other areas as well. The law makes changes to the tax deductions homeowners and property investors can use. This article explores what the changes are and how they may impact real estate owners in general. As this covers the changes more generally it should not be relied upon for tax advice. Everyone’s tax situation when owning a home is different and for specific tax information related to your situation you should speak with a local tax professional for guidance on what works best for you.
Changes In Mortgage Interest Deduction
Prior to the change in the tax laws married homeowners filing jointly could deduct mortgage interest for mortgages up to one million dollars ($1,000,000.00) in value. A non-married individual or married filing separately could only claim mortgage interest deductions on a mortgage amount of no more than five hundred thousand dollars ($500,000.00). Any interest amounts paid above those limits were not deductible.
Under the new law the mortgage limit is now seven hundred fifty thousand dollars ($750,000.00) for married homeowners filing jointly and three hundred seventy five thousand dollars ($375,000.00) for single filers. Therefore if a married couple have a total mortgage amount in excess of $750,000 they...
Great Real Estate Blogs From 2017
With the increase in social media use and the sharing of videos, pictures, audio podcasts and more there is still something to be said for the written word. Whether the reader wants to read something on the bus while headed to work or is taking a quiet break to catchup on the news humans like to read to gain their knowledge. There is no rewinding or fast forwarding to get to the good part of an article. It is all just there for the reader to absorb. Hence I put together this list of great real estate blog articles from 2017 that are must reads for the homebuyer, home seller, home owner and more. Not only are the articles great but the bloggers who wrote the articles also know quite a bit about real estate and are happy to share their thoughts with readers. Check out all the articles in the post below and be sure to read the other great articles from the bloggers mentioned here.
Do You Know What Dual Agency Is?
One of the best blogs of 2017 was Bill Gassett’s article on dual agency. For those who are not familiar with the term, dual agency in real estate is when one agent represents both the buyer and seller in a transaction. Frankly, dual agency is one of the worst things possible for consumers. The only person who benefits from dual agency is the real estate agent who makes a double commission. Whether you are a buyer or a seller when you agree to dual agency you lose the person you hired to represent you!
Here is an example. You hire the best agent in town to sell your home for you. Your confidence is real high in hiring this...