Giving—or Receiving—a Down Payment Gift?
Here Are the Tax Consequences
Searching for homes and scrolling through listing photosis fun, but saving up for a down paymentcan be a real challenge. That's why some home buyers turn to family for a helping hand in the form of the gift of a down payment. But whenever a large stack of cash changes hands, Uncle Sam wants to know—and that means tax returns can get complicated. So before you give or get a down payment gift, make sure you understand their tax implications..…READ MORE
There are 39 active listings this week, with 7 new ones
Closed sales were 3 this week
18 of the active listings, are priced over $500,000
There are now 4 properties listed over $1,000,000
There are 6 listings under $400,000
Of all the active listings, sixteen (16) have had a price reduction (6 this week). What does this mean? Usually, the property was overpriced from the beginning. The sellers are recognizing the market is changing. Prices are not increasing as fast as the last several years. Sellers should not miss potential buyers and deal with increased competition.
How long will this sellers’ market last? Experts say a shift is on its way. Sellers that haven’t been able to sell their property should really evaluate their position in the market and adjust accordingly based on their circumstance. Prices remain strong. Interest rates are low. Timing is everything.
During the period of May 17, 2019, through May 24, 2019 there were reported 7 new listings, 3 closed sales, 2 pending sales, 3 active with contract, 1 expired listing, 1 cancelled listing, 6 price reductions. There are still very good buying opportunities for buyers because interest rates remain very good. IT ACTUALLY IS A GOOD TIME TO BUY OR SELL.
Attention Sellers!
Low Inventory + Low Interest rates + Increasing prices = Sellers Market.
The Market will change. Act Now!
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, May 24, 2019. 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: [email protected]
………………………………………………..……………………………………………………………………………
We are the Miami Springs Experts
however, we service all of South Florida
Let Us Show You How We Can Get Your Property Sold
at the Highest Possible Price
