It’s a Great Time to Buy a Home!
Capital Relocation Services REMINDER: It’s a GREAT Time to Buy a Home
The number of homes for sale is HIGH, and, mortgage rates are at historical LOWS. What are you waiting for?
The benefits of owning a home:
- A temporary $7,500 tax credit is now available for any qualified purchase by a first time buyer before July 1, 2009.
- Capital gains exclusion on the sale of your home, as long as you have lived in your home for two of the past five years.
- Homeowners may deduct mortgage interest and taxes as an expense against income.
- The Home Office Deduction may allow you to claim a deduction for certain home expenses if you use a part of your home for business.
The long-term investment concept of owning a home shows:
- On average, owners who purchased their home six years ago have seen the value of their home rise 24.3% during that time, despite recent price declines.
- With current market conditions, affordability levels are more favorable than in the past.
- Real estate housing values are cyclical, historically rebounding.
Not sure of the next step to take? Contact a Capital Relocation Services representative to focus on identifying a top realtor and lender. We’ll ‘connect the dots’ to make certain you understand the entire process. This ensures that you’ll find the best home in a location that meets the needs of you and your family.
Barbara Miller, CRP, GMS, CRB, GRI, PMN, e-Pro
Although this written communication may address tax issues, it is not a covered opinion as described in Circular 230. Therefore, to ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this communication (including any attachments), unless expressly stated otherwise, was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein.