Have a discussion with a Broker and Realtor® about various issues related to real estate. Enjoy Michael's random thoughts about Real Estate and the changing market, or what Michael likes in the Los Angeles area... Michael works primarily in the San Fernando, Santa Clarita, and Simi Valleys and in the West Los Angeles and surrounding area of Los Angeles...

Friday, November 24, 2006

Could You Use a Substantial Tax Deduction* From Your 2006 Income?

There's still time to buy a home before the end of the year. You might think this is not a good time to be house hunting, but actually the period between Thanksgiving and New Years is an excellent time for savvy homebuyers.

First, there are more properties to choose from than at any time in recent years. And, only serious, strongly motivated sellers are showing their homes during the holidays. Most people are thinking about holiday travel and family feasts, so unless they have to sell quickly, they'll wait to put their house on the market. Homeowners who are having showings are serious about making a sale.

Second, many potential buyers have also put house hunting on hold for a few weeks while they concentrate on the seasonal celebrations. That means there is less competition from other buyers, and that's to your advantage in a buyer's market.

And who wouldn't like more money in the pocket courtesy of your Uncle Sam? There is still time to buy a home and settle before December 31; that could mean a nice tax deduction from your 2006 income. *Of course, you should talk with your own tax preparer about your specific tax situation. But mortgage rates are still low, and we can help you find lenders, inspectors, and attorneys who can move deals quickly to closing.

And then when the clock strikes 12:00 on December 31, you'll have good reason to shout "Happy New Year!" Give us a call today and let's get started.

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