Casa Grande’s known for our seasonal real estate markets, we have a surge of buying activity in the cooler months with the snowbirds and Canadians that frequent our state for our beautiful weather. Many first time homebuyers felt the common pain this past winter of losing their dream home to a cash buyer waiting in the wings that could easily outbid them. Now with our hot weather around the corner, a lot of those cash buyers have started to head for the hills – it’s time for us to hunt for bargains again.
While summer homebuyers may not be getting a huge bonus when they file their taxes next year for purchasing, they will still be getting a great deal on their new home and a portion of their closing costs are tax deductible. Not to mention the fantastic normal tax deductions Uncle Sam gives for interest and taxes on your principal residence. Talk to your tax consultant to find out which additional deductions you may be able to take just for owning your own home – this can be a huge money saver.
I hear people saying that they wish the tax credit would have been extended again, but I’m not so sure I’m in agreement with them. The housing market has had enough stimulation from the government for now – it’s time to see if we can float on our own again.