Here’s a quick digest of what happened in real estate finance last month:
+ With median gains in home values between 6% and 11% among metro counties, Front Range homeowners can expect to see an increase in their tax bills.
+ Mortgage rates remain under 3%, but could become more volatile in the months to come.
+ Biden’s proposed tax hikes could be a ‘double-edged sword’ for real estate — what homeowners and investors need to know that could reduce returns on certain property sales.
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Source: Samantha Sharf at Forbes
Trump’s Tax Cuts & Jobs Act was released at the beginning of November (follow the live coverage about it on The Wall Street Journal’s website). Three major components of this Reform that are relevant to buyers, sellers, and investors are:
- the mortgage interest deduction will go from $1million to $500k,
- a new cap on property taxes, and
- capital gains limitations.
These all become more concerning as the median home price is approaching $500k in Denver.
Source: Aldo Svaldi at The Denver Post