Will the buyers be out during the holidays?

The folks at Realty Times think they just might be.

“As the year winds down, many homeowners fear that now could be a bad time to sell their home. While it’s true that the holidays can deter some folks from house hunting and making a major purchase—don’t give up.”

The recommendation to sellers:

“ If your house is on the market, step up the action plan to draw attention to it. Don’t let the holiday blues make you feel like there’s no hope. Homes are sold and bought this time of year. But the ones that get snatched up are the ones that are enticing to buyers.”

There are some things you can do to make your home more “showable”.

“A good rule of thumb, is to keep decor simple and subtle. If you celebrate Christmas, go ahead and put a tree up but don’t put one up in every room. Remember that buyers will be looking at your home and imagining their own holiday celebrations there. So, be sure to leave them room to envision their lives in the home.

“This goes for the outside too. Holiday lights can be placed outside very tastefully but ditch the huge inflatable characters that make it look like your yard is an amusement park. Instead, opt for a nice holiday wreath and some subtle seasonal decor. Keep in mind that curb appeal is what gets buyers in the door. If your home isn’t appealing from the outside, buyers won’t bother to stop for a look inside.”

What else can you do? Stash the gifts, they can clutter the living room. Add some fragrance to the air but don’t go overboard. Spruce up the mantle. No personal photos.

“Listing your home for sale during the holidays doesn’t have to make you blue; in fact it can truly brighten your spirits by putting some green in your bank account. Just be sure to focus on making your home a buyer’s dream this holiday season.”

Read the full article Fall May Bring Serious Buyers by Phoebe Chongchua.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Stephen's Title Agency, LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-227-4724 - Fax 973-556-1628

E-mail Stephenstitle AT comcast.net - www.stephenstitle.com

Taxpayers to lose mortgage interest deduction? Yes, if commission has its way.

The New York Times reports on a new commission report urging the elimination of the mortgage interest deduction from income taxes.

“By proposing to curtail the tax deduction for mortgage interest, the president’s deficit commission is sounding an alarm.”

“The home mortgage deduction is one of the most widely used and expensive tax subsidies. More than 35 million Americans claim it, and the federal government estimates it will cost the Treasury $131 billion in forgone revenue in 2012. Its size, popularity and link to the emotionally charged American notion of homeownership has made it so politically sacrosanct that there are serious doubts whether Congress will even entertain the idea.”

So why raise it as an issue? “[T]o jar the public into recognizing the magnitude of the nation’s budget deficit and some of the drastic steps that might be needed to close it.”

But the mortgage interest deduction is a great benefit to middle-income homeowners. Won’t this dump more of the deficit reduction responsibility on this group? The answer is yes.

“The proposal, part of a draft by co-chairmen Alan K. Simpson and Erskine B. Bowles, suggested that the tax code could be streamlined, and income tax rates drastically lowered, by eliminating the $1.1 trillion in annual tax expenditure entitlements — subsidies and breaks given to targeted businesses and individuals. The commission chairmen also offered the option of capping the deduction at $500,000 on mortgages, rather than the current limit of $1 million.”

Once again, the specter of class-warfare is brought to the fore as

“The prospect brought an angry outcry. House Speaker Nancy Pelosi blasted the commission’s suggestions, saying it would force middle-class homeowners to subsidize tax breaks for the wealthy.”

“The mortgage interest deduction is one of the pillars of our national housing policy,” said Michael D. Berman, chairman of the Mortgage Bankers Association. “Limiting its use will have negative repercussions for consumers and home values up and down the housing chain.”

“But tax policy experts say that for all its popularity, the value of the deduction in public policy is debatable. It was intended to encourage homeownership, but housing economists point out that countries like Canada and Australia, which do not allow mortgage interest deductions, have homeownership rates similar to those of the United States.”

That may be true, but we are not in Canada or Australia.

Read the full article and see how the proposal may impact us all.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Stephen's Title Agency, LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-227-4724 - Fax 973-556-1628

E-mail Stephenstitle AT comcast.net - www.stephenstitle.com