The Changing Tax Code Has Different Implications Across the U.S.
Experts Disagree on Tax Code's Impact to the Market.
When the tax code was originally being overhauled by the House and the Senate, there were three major proposals being considered that would have substantially impacted the residential real estate market:
Changing the requirements for the exclusion of gain on the sale of a principal residence
The reduction on the limit of the Mortgage Interest Deduction (MID)
The elimination of the State and Local Tax deduction (SALT) which includes property taxes
Let’s look how the tax code has evolved from the original proposal, and decipher what impact experts believe it may have on the housing market.
CG Group's Take: We agree that the reduction on the limit of MID will have a minimal impact on home buyers in the Carolinas outside of those financing higher end properties using a primary loan of greater than $750,000.
Additionally, the Carolinas are a relatively low-tax region compared to states like California and the Northeast region of the United States.
We predict that migrations to the Carolinas from high-tax states will increase in the next couple of years as Charlotte and Raleigh hiring economies remain strong.
1. Focus on your home’s curb appeal. That means power washing your house—driveway and sidewalks included. Spruce up the outside with fresh flowers and landscaping. Paint the front door and update exterior fixtures. Repair wood rot, windows, and damaged roofs. (Read the rest of the articlehere.)
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Savor new experiences and favorite spots as more than 130 of the best restaurants in 9 counties around the metro Charlotte, NC, area offer 3 courses at dinner (only) for just $30 or $35 per person (not including tax and gratuity), January 19-28, 2018.
Reservations are recommended. Take a mouthwatering tour through the participating restaurants' prix fixe menus, and book your tables today. It's the best of Charlotte dining for a deal!
Some, but not all, participating restaurants usefor online reservations. Please see individual restaurant pages for reservation instructions.
Team For Sale: Carolina Panthers Officially on the Market
Carolina Panthers owner Jerry Richardson said last month that he is putting the franchise he founded up for sale, and one of the first steps the team announced was the hiring of an investment banker and lawyers to handle the process. The team, however, hasn’t shared much else on how this will work.
Charlotte is packed with investment bankers who help private companies orchestrate sales of their businesses, and they say there is a basic process that bankers follow – although they acknowledge selling one of 32 NFL teams isn’t exactly the same as pitching a family-owned factory.
Read the rest of Charlotte Observer business writer Rick Rothacker's articlehere.
"CG Group at Engel & Völkers is committed to Simplifying Real Estate. Your referral is free to give, but it is priceless to receive. Who do YOU know who is planning to buy or sell a home?"CGGROUPREALESTATE.COM/ 704-879-3002 FACEBOOK.COM/CGGROUPREALTORS
Author:Mark Hendel - Broker In Charge Phone: 704-909-8688 Dated: January 22nd 2018 Views: 79 About Mark: Mark Hendel
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