The Power of Service
The Power of Service
Vicki K. Reyes GRI, Realtor
vickiRrealtor@gmail.com 301-452-0157
Vicki K. Reyes GRI, Realtor
vickiRrealtor@gmail.com 301-452-0157
What are the experts saying for the upcoming Spring real estate market? Mr. Lawrence Yun, NAR chief economist, said historically high housing affordability is boosting sales activity. “In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” he said. “But further gains are needed to reach normal levels of sales activity.” With interest rates still low and warmer weather not so far around the corner Maryland, DC and Virginia should have a brisk spring housing market.
Happy 2011 and enjoy the househunt !
Vicki Reyes, Associate Broker
Remax Town Center 301-452-0157 vickiRrealtor@gmail.com
Positive news for the housing market…..Pending home sales rose again in November 2010, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the National Association of REALTORS®.
“All the indicator trends are pointing to a gradual housing recovery,” Yun said. “Home price prospects will vary depending largely upon local job market conditions. The national median home price, however, is expected to remain stable even with a continuing flow of distressed properties coming onto the market, as long as there is a steady demand of financially healthy home buyers. Lawrence Yun is NARs’ (National Association of Realtors) Chief Economist.
Looking for a great home at a great price in Maryland ? I can help !
Vicki Reyes, Associate Broker
Remax Town Center
301-452-0157 cell
Mortgage Interest Deduction :
Individuals are permitted to deduct mortgage interest paid on mortgage debt of up to $1 million. The deduction is available for interest on mortgages for a principal residence and one additional residence. The $1 million limitation represents the combined allowable debt on two residences. Mortgage interest on up to $100,000 of debt on home equity loans or lines of credit also qualifies for the deduction.
As part of its FY ( fiscal year) 2011 budget, the Administration has proposed limiting the value of the MID for upper income taxpayers by, in effect, converting the deduction to a 28% tax credit for those individuals who are currently in the 33% or 35% tax brackets. Individuals with incomes below $250,000 would generally not be directly affected by this proposal.In fact the MID actually benefits primarily middle- and lower income families. Sixty five percent of families who claim the MID earn less than $100,000 per year, and 91 percent who claim the benefit earn less than $200,000 per year. As a percentage of income, the biggest MID beneficiaries are younger middle-class families.The removal of MID would have adverse impact on housing values and the pace of economic recovery. And this, Mr. President would be a huge mistake at such a critical time in this nations’ housing market.
Vicki K. Reyes
Remax Town Center, Associate Broker
Licensed in Maryland and Virginia
301-452-0157