About 1031 tax deferred exchanges A 1031 tax-deferred exchange is a provision in the U.S. tax code (Section 1031 of the Internal Revenue Code) that allows real estate investors to defer capital gains taxes when selling an investment property, as long as they reinvest the proceeds into another like-kind property. What are the rules for a 1031 exchange? The Key Continue Reading
Special Home Tax Exemptions for 2024 Massachusetts Home Sales
The Primary Home Sale Tax Break Exemption To qualify, the home must have been your primary residence for at least two out of the five years before the sale. These don't have to be consecutive years. Both the IRS and Massachusetts are in sync on this one and offer a significant tax break called the Home Sale Exclusion, which allows single filers to exclude up to $250,000 of the gain from Continue Reading
About Massachusetts Home Sale Taxes
What are the Home Sale Taxes in Massachusetts? This post explains the Home Sale Tax Consequences in Massachusetts for a single-family home or condo you've lived in for at least two of the last five years. At the bottom, you will see links to special Home Sale Tax Exemptions that can help you avoid most, if not all, of the taxes on a home sale. Our team at Greater Boston Home Team is here to Continue Reading
The Hottest Design Trends For 2023
Real Estate Tax Deductions For 2022 Tax Returns
Real estate is one of the best, if not THE BEST, ways to build wealth in America partially because of the tax benefits available to property owners. With that in mind, we have assembled the list of 2022 resources and tax deductions for property owners below. Important Note About Private Mortgage Insurance (PMI) For 2022 Returns: Private Mortgage Insurance (PMI) for principal Continue Reading
How Do Buyer’s Agents Get Paid?
When a home is "listed" for sale, the seller agrees to pay a commission which the seller’s broker typically splits with the buyer's brokerage company. The amount that the buyer’s broker will receive is specified in the Realtor's Multiple Listing Service database (also known as the MLS). In the Greater Boston area, the fee that a seller’s agent splits with the buyer’s agent is often around 5 Continue Reading
Boston Area Fall 2022 Market Update
Greater Boston Real Estate Market Remains Stronger Than Much Of The Country While headlines are shouting about a declining real estate market the fact is that statistics show that, unlike many U.S. cities, there is still a severe shortage of properties for sale in most of Greater Boston Boston's communities. We are still a long way from an oversupply of homes for sale and the 3 to 6 month Continue Reading
Sam’s three strike rule for home and condo buyers
To put things in perspective for our buyer-clients, when come across a property that has issues that limit its appeal, we often discuss “Sam’s three strike rule”. Here it is: If a property has one issue but is otherwise great, some, but not all buyers may overlook that issue and buy the property. If it’s an average property, more buyers are likely to consider the issue and will Continue Reading
Summer 2022 – Buyer’s Real Estate Market Report
The Greater Boston real estate market is tracking about as expected in our Spring Market Report, however, the rapid increase in recent mortgage interest rates since that report has decreased their buying power more than expected for many buyers. Home prices have remained stable because there is still strong demand and low supply, however, homes are not getting bid up as Continue Reading
Summer 2022 – Boston Real Estate Market Report
The Greater Boston real estate market is tracking about as expected in our Spring Market Report, however, the rapid increase in recent mortgage interest rates since that report has decreased their buying power more than expected for many buyers. Home prices have remained stable because there is still strong demand, however, they are not getting bid up as frequently or as high Continue Reading
