The battle rages over the Mortgage Interest Deduction (MID) and tax reform.
National Association of Realtors (NAR) and National Association of Home Builders
(NAHB) are double-teaming and double-timing in their efforts to save the
MID. Over the past 30 years, we have never seen anyone buy a home or condo
simply because there is a deduction for the mortgage interest paid. Further,
many buyers in this market pay cash and therefore receive no MID.
Bottom line? Pride of ownership and the desire to have a place of your own
(home, condo, investment/vacation) are what really motivate buyers to buy.
Raise the standard deduction so as to not raise taxes and the market will not
miss a beat, IMHO.
Real estate inventory levels along the Emerald Coast remain tight. The average
days on market has declined over the past year and prices have been decidedly
With two significant storms having made recent landfall along the gulf, the
markets have cooled slightly. As we approach the winter season, we are seeing
a level of stabilization in price appreciation. A dip in average sales pricing is fairly
typical for the October through January time period due to slightly fewer
buyers and more inclement weather.
In sum, we approach the year’s end with low inventory levels, high demand for
Emerald Coast properties and low mortgage interest rates. A match made in
Please call, text or email us anytime for an update!
Ed, Terri, Kay and Tammy