How Will the Anticipated Tax Reform Impact Real Estate?

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Filed under: Market Comentary

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It looks like the tax reform will be passing, which means that many people are wondering how these changes will impact their personal and business interests. What effect will these changes have in the real estate industry?

I’m always working hard to provide the latest information and trends for my clients. Here are a few thoughts about the upcoming changes.

Time Will Tell How Things Will Play Out

There is a lot of conversation about the anticipated tax reform, and most people haven’t read the proposed changes. I’ve heard that the bill includes thousands of pages, which means that many of the people who have voted on the changes probably haven’t read the information either. Even though I haven’t read the full bill, I have dug into it on the real estate side to try to get a sense of what it will mean to homeowners.

It will be interesting to see how everything plays out, especially if you are watching the commentary in the media. There are many opinions and differences in the way the information is presented. Some of the news stations seem like they are talking about two different topics because their commentary is so different.

I’ll continue reading and learning to share more information with you as it becomes available. So, keep checking back for more details in the future. I’m working to make heads or tails of the information in an objective way, to provide clear, understandable details for my clients.

Minimal Changes for Real Estate

From what I am reading so far, the effects look like they will be fairly small for the real estate industry. For some people who will be buying houses with a loan higher than $750,000, it looks like things will change regarding the interest deduction on the mortgage. There might be other small changes, but most things will be staying as they are.

At this point, there is nothing to worry about regarding the way the tax changes will impact real estate. But, I will keep you updated if any other information comes forward that indicates otherwise.

At Franklin Loan Center, we are working hard to provide the best mortgage services in the Temecula area. If you need help with buying a home or refinancing your property, then we encourage you to call us right away for assistance. We are here to help!

The next video will be shared after Christmas… Merry Christmas from Franklin Loan Center, we hope that you have a safe and fun holiday!

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