Things to do in Washington DC: why you should buy a house before the end of this year? 2 good breaks

why you should buy a house before the end of this year? 2 good breaks


46 days. Thats how much days we have left in this year. So if you are going to buy a house,you need to do it now. And if you are home owner who has been thinking all year about whether this would be a good time to sell your house now that the Real Estate Market has picked up in certain areas (Real Estate is local),then use your christmas ornaments as staging pieces to attract potential ready,willing and able home buyers to your house. Here are two good reasons why you should buy a house before the end of this year.


  • Holiday breaks. With the holidays approaching,(Turkey eating day and Gift receiving day-LOL. Of course I mean Thanksgiving and Christmas Day,wouldn't you want to be searching for a house now instead of next year? You will be competing with less home buyers who have pretty much shut down their home buying search and getting ready to start preparing for the Holidays. That leaves more houses for you to choose from and less home buyers to compete against with


  • Tax breaks. Home owners want you to get a tax break so they can get a tax break also. Its a WIN-WIN Situation. As a home buyer,you should use this as a negotiating tool to your advantage to convince the home owner to sell their house to you. For income tax purposes,real estate property taxes for a first time home buyer are fully deductible. And home sellers the federal tax law says when you sell your home, if you qualify, you can keep tax free,capital gains of up to $500,000 if you are married filing jointly or $250,000 for single taxpayers, or married taxpayers who file separately.Under the law, to qualify for the $500,000/$250,000 exclusion, the home must have been your primary residence for at least two of the prior five years. The exclusion is not a one-time deal, but a benefit you can use again and again, theoretically every two years -- provided you qualify each time by meeting the owner-occupied-two-out-of-five-years requirement.


So I hope these two reasons will help you decide that now and not next year would be a good time to buy a house for sale. And if you want to start your home buying search now,click HERE

Click here to Buy a house with $0 down and get up to 4% in grant to use towards down payment and closing costs.     




Want to get a list of recent SOLD HOMES in your area of choice? Click on this link 




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Comment balloon 6 commentsLanre-"THE REAL ESTATE FARMER" Folayan • November 15 2012 02:46PM


Great points Lanre!  Now to get those buyers off the fence ;)


Posted by Christine McDaniel, Broker Associate (Coldwell Banker Residential Brokerage Porter Co.) over 6 years ago

So you have no faith in our Congress and government. Wonder why. The cliff is coming.

Posted by Erv Fleishman, Luxury Prop Specialist Realty Associates (Realty Associates) over 6 years ago

Good Evening Lanre

Thanks for the post and valuable tips. Have a great day

Posted by Patrick White, Driven to bring New Yorkers home (Home Driven Realty, Inc) over 6 years ago

Lanre, what a great reminder that if people want the tax deduction for this year they really need to contract on a house now. 

Posted by June Piper-Brandon, Piecing Dreams One Home at a Time (The Traczyk Team at Remax New Beginnings ) over 6 years ago

Lanre. I hope buyers will read the post and call you for help in buying a home.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 6 years ago

Thank you Lanre, for these two straight forward and important Tips/Reminders.

Posted by Aklile Mariam, e-PRO Realtor (Lic. DC, MD & VA) (Long and Foster Real Estate - CAPITOL HILL) over 6 years ago