Rent or Buy: Either Way You're Paying a Mortgage

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Falling Mortgage Rates Are Bringing Buyers Back

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  If you’ve been hesitant to   list your house   because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent. After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the  Federal Reserve  cut the Federal Funds Rate for the first time since they began raising that rate in  March 2022 . And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower  mortgage rates  are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at  Bright MLS , says: “A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.” The best part? You can  take advantage  of th...
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Check Your Central A/C Unit Now, Avoid a Repair Call Later

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  brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties Few household maintenance routines pay off better than checking out your central air conditioning unit before the hot weather sets in. Preparing the unit for heavy duty now will not only save on energy costs, but will up your chances of staying cool all summer and avoiding an emergency service call. Air conditioning experts suggest these routine tips for ensuring trouble-free performance: Turn off power to the unit . Turn off the switch and unplug the unit to allow for safe handling. Clean or replace the filter . Most likely located behind the air return grille on the wall or ceiling in a central part of the house, the air filter can accumulate dirt, dust and allergen particles over the winter months. This makes the system work harder than it needs to, and costs in terms of efficiency and utility dollars. If the filter is disposable, replace it, and keep a couple more on hand for replacement ever...
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Tax Tips for Selling a Residence

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  HOME SELLERS, TAXES, SELLING A HOME Tax Tips for Selling a Residence According to the  Internal Revenue Service , the primary residence you sold in 2023 may have federal tax benefits that can help you avoid capital gains on the sale, if you meet certain criteria for ownership and use of the home. To claim a tax exclusion, you must have owned the home for at least two years and lived in the home for at least two out of no more than five years of ownership. The tax gain exclusion that’s available is $250,000 if you’re single, or $500,000 if you’re married and use a joint tax return. If you sell at a loss, such as a short sale, you can’t deduct the loss from your income, likely because of the many homeownership benefits subsidized by the government, including loan programs, first-time and low-income homebuyer grants, energy star appliance credits, and so on. Tax exclusions are also subsidized by the government. To maximize your gain and lessen your tax bill, you can adjust the...
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