Selling a home in Cincinnati

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.  

Top Real Estate Agent Recognized at Circle of Excellence: Finn Team

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Finn Team of Coldwell Banker West Shell, were recognized by the Cincinnati Area Board of Realtors on Thursday, January 12, 2017 for their achievement in home sales.

The prestigious “Circle of Excellence” Award was earned for their 2016 home sales volume.  They reached the elite 13th Level, according to Cincinnati Area Board of Realtors, which puts them in the top 5 out of over 5,000 agents. They are passionate about what they do, and have been successfully selling homes in Cincinnati for over 23 years.  Rick and Holly are honored to be associated with Coldwell Banker which is the leading real estate organization in North America, and is know for the excellence and professionalism in the industry.

Coldwell Banker West Shell provides them with the powerful global resources of an international organization, which they combine with their focus and expertise serving the needs of our local communities.  They are dedicated and passionate about Cincinnati Real Estate, and are also licensed in Northern Kentucky.  Their market knowledge and enthusiasm allow them to excel in today’s evolving real estate market.

To find out more, visit www.finn-team.com or you can find their business page on Facebook.

Creative Marketing of Your Home

Let us tell the story of your home!  Each house is so unique in terms of amenities, updates, character, and neighborhood which makes it imperative that the marketing of each home is unique.  We would love the opportunity to show you our customized marketing plan.  First we meet with you to discuss the selling points and features of your house.  With that information, we can pinpoint the demographics of potential Buyers for your home.  Then we can strategically prepare a marketing plan to expose your home to those people through various methods.  Marketing a lifestyle, in order to make your home stand apart from the rest!

Selling real estate is not just about putting it in the MLS…we are proactive in getting it sold for the highest possible price by implementing creative marketing methods.

Contact us to learn more:  holly.finn@cbws.com   |   513.533.8081   |   www.finn-team.com

Finn Wooded House-12

2991 Alpine Terrace   |   SOLD   |      View Listing

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2991 Alpine Terrace   |   SOLD   |   View Listing

hyde park second house  3 - Copy

2872 Erie Avenue   |   SOLD   |   View Listing

hyde park second house

2872 Erie Avenue   |   SOLD   |   View Listing

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6980 Charlesfield Lane   |   View Listing

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6980 Charlesfield Lane   |   View Listing

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3101 Victoria Avenue   |   For Sale   |   View Listing

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3101 Victoria Avenue   |   For Sale   |   View Listing

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3101 Victoria Avenue   |   For Sale   |   View Listing

Country House-3

7733 Willey Road   |   SOLD   |   View Listing

Cincinnati Real Estate on the Rise!

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*Information provided by the Cincinnati Area Board of Realtors and Greater Cincinnati MLS.

The Spring selling market is in full swing in the Cincinnati and Northern Kentucky area.  Even with the coldest weather we have had in decades, home sales continue to gain momentum for this time of year.  The average sale price for homes in March of 2014 increased by 9.7% compared to the average sale price in March 2013.  Interest rates appear to be stable, with local mortgage rates in March averaging 4.45% for a 30 year fixed rate loan.  These rates are still at a level that make purchasing a home very affordable.

Cincinnati was recently ranked #9 by Forbes magazine for being “One of America’s Best Cities for Raising a Family.”  We are proud that we have one of the lowest costs of living among America’s largest metros.  We live and work in a stable market with affordable housing opportunities.  So whether you are buying your first home, making a move-up, or relocating to the Cincinnati area, contact the Finn Team to guide your through your home search or sale.