When the standard deduction for married couples filing jointly was increased from $12,700 to $24,000 for 2018, there was some speculation that the bloom was off the rose of homeownership.
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Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!
How did we finish 2017?
And Bloomberg Business just reported:
And the National Association of Realtors revealed that buyer traffic is stronger this winter than it was during the spring buying season last year.
The only challenge to the market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a four-month supply of inventory. This represents a decrease in supply of 9.7% from the same time last year.
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together to see whether that is the case in your neighborhood. Call me TODAY at 541-526-7788.
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Congress enacted the Dodd-Frank Act in 2010 in response to the mortgage crisis that led to America's Great Recession. The two parts that apply closely to homebuyers are the Ability-to