Northern Kentucky Real Estate

Pros and Cons of the New Tax Bill

Both chambers of Congress have now passed the new tax bill, and its the first overhaul in more than 30 years.  The National Association of REALTORS worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members, not only in the last three months, but over several years.

The tax bill has been passed with all of its pros and cons.  Last minute changes to the bill include the following improvements for real estate.

-Capital Gains Exclusion.  In a huge win for current and prospective homeowners, current law is left in place on the capital gains exclusion on $250,000 for an individual and $500,000 for married couples on the sale of a home.  Both the House and Senate had sought to make it much harder to qualify for this exclusion.

-Mortgage Interest Deduction.  The maximum mortgage amount for households deducting their mortgage interest has been decreased to $750,000 from the current $1 million limit. The house bill sought a reduction to $500,000.

-State and Local Tax Deductions.  Both property taxes and State and Local income taxes remain deductible, although with a combined limit of $10,000.  Both the House and Senate bills sought to to eliminate the State and Local income tax deduction altogether.

All individual provisions are generally effective after December 31, 2017 for the 2018 tax filing year and expire on December 31, 2025 unless otherwise noted.  The provisions do not affect tax filings for 2017 unless noted.  Individuals should consult a tax professional about their own personal situation.

You may benefit from pre-paying your 2017 real estate/property tax bill before the end of the year.  With the caps on deductibility of state and local income and property taxes at $10,000 for tax year 2018 and going forward, but that cap does not apply in 2017.  If your real estate tax bill is expected to exceed $10,000 in 2018, you may strongly benefit from pre-paying property taxes due in 2018 right now before year end.

County Treasurers in Hamilton County, Butler County, Clermont County and Warren County have confirmed that you can determine and pay your entire 2018 real estate tax expense before December 31, 2017.

If you have any questions about how this may affect your decision to buy or sell real estate in the coming year, reach out to your Real Estate Resource, the Finn Team:  www.Finn-Team.com or holly.finn@cbws.com.  

Brick Ranch w private yard in Fort Mitchell

20 Thompson Avenue, Fort Mitchell, KY 41017

2 Beds | 1 Full Bath | 1 Partial Bath | 0.1722 Acres | 1 Car Garage | $174,900

This all brick ranch home has a covered front porch, attached garage (with door opener) with hardwood floors, eat-in kitchen and more!

The first thing you notice when you walk up to 20 Thompson is the great yard and covered porch! Walk in and enjoy the hardwood floors and fireplace in the living area. Continue on into the charming dining room, then into the spacious, equipped eat-in kitchen.

The home boasts two bedrooms, with the possibility of a third bedroom or study in the finished lower level.

Walk to Beechwood school, restaurants, parks, and convenient access to the highway!

Give us a call at 513.533.8081 so we can introduce you to your new home!

 

Marketing For Your Cincinnati or Northern Kentucky Home

Buying and Selling Real Estate is a large financial decision.  Your home is not average, so why use an average marketing plan?

Homes with a customized and upscale marketing strategy sell faster and for top dollar. We utilize a multi-layered approach to give your home the best exposure, while showcasing your home’s exceptional features.  You made a smart decision when you purchased your home, now is the time to make an informed decision before selling.  

What differentiates us from the average agent?

  • Multi-layered marketing approach = proven results
  • Google analytics = data and statistics for informed decisions
  • Targeted Marketing = identifying media to reach specific demographics
  • Customized presentations = upscale & innovative print designs
  • Prime web presence on hundreds of sites for maximum visibility = more showings

The Finn Team has 25 years of experience selling residential real estate in Cincinnati and Northern Kentucky, which is imperative in this fast-paced market.

Interview the Finn Team and find out the details on what makes us successful!

Rick and Holly Finn   |   513.560.6513   |   holly.finn@cbws.com

Selling a home across the street from a school?  Let’s try an after-school open house to catch parents in the pick-up line!  We had a great turnout and it sold to a Buyer that came through the open house!  www.VineyardPlaceHome.com

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Host events at the Home for Sale to generate interest and network with neighbors:

Connections with news channels for coverage of Homes for Sale:

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Offer incentive or giveaway to attract interest:

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View our listing in the Business Courier

View coverage on Downtown listings

View our listing on Cincinnati Refined

View our listing on Cincinnati Magazine

We welcome the opportunity to discuss your home and see what makes it unique!  We will provide data showing how much values have risen in your neighborhood, along with a comprehensive marketing plan tailored to your specific property.  Interview the Finn Team before making a decision. www.Finn-Team.com

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