Tag Archives: selling a house

March often signals the beginning of spring here on North Carolina’s Crystal Coast, but it’s also a time of preparation for another highly anticipated season— tax season! Homeowners in Coastal Carolina are entitled to several deductions that can help you save greatly on your overall tax bill this year, so be sure to make certain you’re taking what you can when filling out your return!

Go over your tax return with a fine toothed comb this year and double check that you’ve taken the following deductions before sending it off!

Private mortgage insurance
For those that did not make a 20 percent down payment, lenders likely required a private mortgage insurance (PMI) to be added into their mortgage payment. This does indeed increase your overall payments each month, but looking on the bright side, you can deduct your PMI as long as your adjusted gross income is less than $100,000.

Energy efficient upgrades
If you’ve made any updates to your NC home such as new insulation, windows, doors, skylights, solar panels, solar water heaters or the like, you may be eligible for this energy efficient deduction. However, note that for certain items like furnaces, there is a lifetime cap of $500, so if you’ve used this up in the past, you will not be able to deduct any more.

Mortgage interest
For loans up to $1 million, homeowners can deduct all of the interest paid on their mortgage. You do need to itemize deductions in order to take it, but keep in mind it’s often worth it to write off everything you’ve paid in interest for the previous year. For instance, on a $300,000 fixed-rate 30-year loan with a 4 percent interest rate, you would be able to deduct over $10,000.

Spring is a full season for homeowners in Atlantic Beach, Beaufort, Havelock, Newport, Emerald Isle and the surrounding areas, especially if you plan to sell in the near future! Give Gena Gilbert Real Estate a call today for more information about how you can take advantage of the current market this spring!

We’re here to help!

3 Reasons to Sell Your Morehead City NC Home Before Spring

crocus-318293_960_720You might be dreaming of warmer weather and the official beginning of spring here on North Carolina’s Crystal Coast, but if there is one thing that’s great about this time of year, it’s the opportunity to sell your home! Sure, you can list your home at any time of year in Coastal Carolina, but this window before spring officially begins and the market heats up, presents homeowners with an edge.

Below are three reasons why you should list your Crystal Coast NC home before spring:

Demand is strong
While many areas of the country are faced with lower inventory right now, that does not mean buyers are not looking for properties. In fact, buyer demand is still high and home sales as a result as increasing rapidly! Listing your property now allows you to benefit from the current buyers who are ready to call your house their new home.

Less competition
It is no secret that the spring and summer months are known as the “busy seasons” in real estate. Many homeowners believe spring and summer are the best times to sell, therefore they will wait until the officially beginning to list. What that means for you now as a Coastal Carolina homeowner is that there is less competition in the current market— don’t wait too long or your home could be lost in the crowd!

Process will be quicker
The length of time it takes to get from contract to closing fluctuates depending on the time of year, changing regulations and the housing market itself. Selling your home now before the busy season begins could award you a shorter closing process than if you decided to wait until next month to get the ball rolling.

Ready to sell your home and move on just in time for spring and summer in Atlantic Beach, Beaufort, Emerald Isle, Morehead City, Havelock, or Newport? Give Gena Gilbert Real Estate a call today!

We look forward to hearing from you!