The Housing Market and Home Interest Tax Deduction The housing market and when it will recover has been a topic of conversation for several years. I am excited to announce a 32% increase in home sales for July 2013 (590) over July 2012 (446). This was the highest number of NKY home sales in six years (August 2007) when 616 home sales were recorded. Housing statistics in every category were up this month, positioning Northern KY for another year of housing boom over the housing bust from 2008-2011. For the month of July, NKY celebrated 2+years where home sales have increased-year over year. Average home prices rose 6.5% to $159,610 for July, and days on market were 11 days better than we saw last July. Highest sales volume since August 2007, higher average and median prices, and lowest days on market since 2006 all signal the rebound of consumer confidence in housing. We are experiencing the best period in over five years and based on what it means to the overall economy of our area and the US as a whole, we cannot allow anything to slow or stop it.
An item of great concern in State and Federal tax reform is Mortgage Interest Deduction (MID). This has long been a benefit to home owners in decreasing their tax liability, and improving the equity in their home. A perception exists that the MID is a Realtor issue, or a builder issue. It is an “everybody” issue. Studies by the University of Kentucky and the National Association of Realtors®, done for the Kentucky Association of Realtors have brought forth some interesting points.
Consider:
If tax reform detrimental to home ownership is enacted, the average home owner will pay $5,000 more in taxes. What does this translate to? Approximately $100 dollars less discretionary funds to spend each week.
This means:
Please visit the Kentucky Homes Matter website for more information, and to sign the petition.
You are urged to contact your legislator and strongly protest any reform in the tax codes that would have adverse effect on housing.
Here are several ways to get in touch with Frankfort.
Find a list of email addresses here. http://www.lrc.ky.gov/Whoswho/email.htm
Find your Kentucky legislator. http://www.lrc.state.ky.us/Legislators.htm List of legislators sorted by county. http://www.kar.com/uploads/49/File/Legislative%20Toolkit/STATE%20LEGISLATORS
Fast Fact 27 percent of garages contain space for three or more vehicles. Source: 2011 American Housing Survey, published July 2013, U.S. Department of Housing and Urban Development
Breathe Easy!
 ·
Dust mites and mold love moisture. Use a dehumidifier (and an air
conditioner during summer months) to help reduce moisture and control
allergens. When cooking, running the dishwasher or bathing, turn on an exhaust
fan or open a window to remove excess moisture. Be sure the clothes dryer is
vented to the outside, and fix plumbing leaks to prevent mold from forming. ·
Make your home a no-smoking zone. Secondhand cigarette smoke
contains more than 4,000 chemicals and can increase the risk of respiratory
infections, asthma, cancer and sudden infant death syndrome in children. If
entertaining guests who smoke, request that they do so outdoors. ·
Test your home for radon. This colorless, odorless gas is produced
from the natural decay of uranium found in soil and seeps into the house
through cracks and holes in the foundation. A radon test is easy and
inexpensive to use, and can help you find the source of radon. · Replace laundry products and soaps containing synthetic fragrances with scent-free or naturally-scented laundry products and mild cleansers. Refrain from using aerosol sprays, such as furniture polish, hair sprays and air fresheners. Open the windows and let in fresh air so toxic chemicals don’t build up in your home, and use an air conditioner to keep rooms well ventilated.
Area Home Sales Statistics for Northern Kentucky and Greater Cincinnati If you would like more information about sales in your specific community, send me an email at mikebeckerhomes@fuse.net and let me know how I can help you.
Northern Kentucky I am excited to announce a 32% increase in home sales for July 2013 (590) over July 2012 (446). This was the highest number of NKY home sales in six years (August 2007) when 616 home sales were recorded. Housing statistics in every category were up this month, positioning Northern KY for another year of housing boom over the housing bust from 2008-2011. For the month of July, NKY celebrated 2+years where home sales have increased-year over year. Average home prices rose 6.5% to $159,610 for July, and days on market were 11 days better than we saw last July. Highest sales volume since August 2007, higher average and median prices, and lowest days on market since 2006 all signal the rebound of consumer confidence in housing. Now is a great time to buy or sell a house – call me if I can help you!
Cincinnati
Kid Friendly Moving
 ·
Start by getting the kids involved in the house-hunting process.
Take them to see the homes you are considering buying, or show them photos or a
virtual tour. Learn as much as you can about the community and the
neighborhood. ·
Get the kids involved in de-cluttering the home. Go through the
house, room by room, and have them identify what items they want to discard and
what they want to keep. ·
Let kids map out their new room, and choose the colors to decorate
it. If they want, let them help arrange and decorate other rooms in the house.
For teenagers, set a budget and let them pick out colors, linens, rugs and
furniture, and encourage them to shop at thrift stores for knick knacks. · Once you have moved, plan a welcome party and invite a few neighbors with kids to get acquainted. Tour the new neighborhood to locate places of interest to children, such as a playground, school, library, and movie theater.
Moving is never easy for kids, but these ideas can help them look forward to their new home. |
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