7 Tax Benefits of Owning a Home:
A Complete Guide for Filing in 2020
What are the tax benefits of owning a home? Plenty of homeowners are asking themselves this right around now as they prepare to file their taxes. You may recall the new Tax Cuts and Jobs Act—the most substantial overhaul to the U.S. tax code in more than 30 years—went into effect on Jan. 1, 2018. And as a result, last year likely brought big changes to …READ MORE
Home Buyers See Bright Outlook in 2020 as
Home Purchase Sentiment Nears Survey High
Home buyers’ prospects on housing were off to a great start in 2020, according to the latest Fannie Mae Home Purchase Sentiment Index® (HPSI) for January. The index which measures housing attitudes, intentions, and perceptions, using six questions from the National Housing Survey® (NHS), is a good yet lagged indicator of eventual buyer and seller behavior during peak home buying seasons. The January HPSI increased 1.3 points over November and 8.3 points over last January to 93.0, approaching the survey high set just months ago. However, …READ MORE
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The Current Miami Springs Market
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. Timing is everything. If you re on the fence about selling, now is the time to get off and put your house on the market.
Inventory increased a bit but still remains tight this week in Miami Springs and Virginia Gardens. There are only 24 active listings this week. Last year I reported on January 7, 2019, there were 48 active listings. That represents an almost 50% decrease in inventory in one year. This is especially good for sellers.
24 active listings this week
0 closed sales this week
9 listings under $400,000 *(Note:The inventory in this price range has improved during the last month. Good opportunities for entry level buyers)
6 listings between $400,000 and $500,000
9 active listings are priced over $500,000
2 properties are listed over $1,000,000.
6 active listings have had a price reductions (1 this week). 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. Timing is everything. If you re on the fence about selling, now is the time to get off and put your house on the market.
During the period of February 7, 2020 through February 14, 2020 there were reported 3 new listings, 3 closed sales, 3 pending sales, 2 active with contract, 0 expired listings, 0 cancelled listings, 1 Temp off market, 1 price reduction and 0 price increase. Interest rates remain low. A GREAT TIME TO BUY OR SELL.
Low Inventory + Low Interest rates = Sellers Market.
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, February 14, 2020. 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@example.com
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