5 Sweet Tax Deductions When Selling a Home

You may be wondering if there are tax deductions when selling a home. And the answer is: You bet!

Sure, you may remember way back to 2018 and its new tax code—aka the Tax Cuts and Jobs Act—changed some rules for homeowners. But rest assured that if you sold your home in 2020 (or are planning to in the future), your tax deductions when you file with the IRS can still amount to sizable savings. Want a full rundown of all the deductions (as well as tax exemptions or other write-offs) at a home seller's disposal? Check out this list to make sure you don't miss any of them.…READ MORE

Should You Buy a Home or Keep Renting?

It’s a big question with no easy answer: Should you keep renting, or is it time to think about buying a home? One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. But that doesn’t mean buying is always the best choice—as a renter, you… READ MORE

SELLERS, THIS IS THE MOMENT! SELL NOW!

The inventory remains tight. There are 27 active listings this week. The market continues to be very dynamic with many Buyers and that is great news for Sellers. Please refer to the articles posted on our website.

Sixteen (16) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Nine (9) active listings have had a price reduction (2 this week). We are in a very busy Sellers' market, but uncertainties still remain with the COVID-19 pandemic and new variants, economic policies, and likely increased inventory.

MULTIPLE OFFERS ARE BACK AND LISTINGS ARE SELLING OVER LIST PRICE!!

Mortgage interest rates continue to be historically low, and there are serious Buyers buying! Timing is everything. The demand is high for properties under $400,000. There is currently only one (1) listing under $400,000. This makes it more difficult for Buyers looking in that range due to the lack of inventory in that range. Competition from multiple offers have become quite common. Ten (10) properties are priced between $400,000-$500,000. Eight (8) properties are priced between $500,000-$700,000. Six (6) properties are priced between $800,000 and over $1 million.

Property price reductions? 
What does this mean? 

Usually, the property was overpriced from the beginning. 
However, sellers are recognizing the market change.  

There are less price reductions as the inventory decreases.

Sellers that haven’t been able to sell their property in this market should re-evaluate their strategy 
and adjust accordingly based on the current market circumstances.

A GREAT TIME TO BUY OR SELL!

During the period of February 19, 2021 through February 26, 2021 there were reported 2 new listings, 3 closed sales, 0 pending sales, 3 active with contract, 0 expired listings, 0 cancelled listings, 2 Temp off market, 2 price reductions and 0 price increases.

Attention Sellers!
Low Inventory + Low Interest Rates = Seller's Market.
Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, February 26, 2021. All closed sales are within the last 90 days.

HOW DOES YOUR HOUSE COMPARE?

*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.

 A complete list of all the properties for sale in Miami Springs or any other area of 

Miami-Dade County can be sent to you on regular basis. 

Request it at:  charlie@leonardrealestategroup.com

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