2020 real estate forecast

Northern Wasatch Association of Realtors Advice

President’s MessageRobert Bolar As 2019 draws to a close, it’s time to start looking ahead to 2020. In the real estate market, conditions next year will be much like they were this year. Key characteristics will include low mortgage rates, rising home sales and increasing home prices. These predictions come from Lawrence Yun, chief economist of the National Association of Realtors, who recently presented his 2019-2020 housing forecast at the annual Realtors conference in San Francisco.  For 2019 as a whole, he expects a 9% increase in new home sales nationwide, a 1% increase in existing sales, median price growth of 4.3% and an average of 4% for a 30-year fixed-rate mortgage.  For 2020, his forecast looks similar except Yun …

How does tax reform affect real estate tax incentives?

Northern Wasatch Association of Realtors Advice, Update

April 15 is just around the corner, but this year’s Tax Day is different compared to many others. That’s because this is the first time taxpayers will file their taxes using the new rules from Congress’ tax overhaul. The Tax Cuts and Jobs Act of 2017 reformed many parts of the U.S. tax code, including several areas related to real estate. Here’s a summary of how the tax law affects many popular real estate tax provisions: Standard interest deduction     Congress essentially doubled the standard deduction from $6,350 to $12,000 for single filers and from $12,700 to $24,000 for those filing jointly. While that’s good news for some taxpayers, it does mean fewer people will itemize their returns, thus being …

Thinking About Becoming A Real Estate Agent? Here’s What to Know

Northern Wasatch Association of Realtors Advice

When people imagine a career in real estate, they often think of TV shows that portray agents flipping houses, working with celebrities and listing properties worth millions. The reality, however, requires hard work, planning and enough money to get your business off the ground. Here are some important factors to consider if you’re thinking of launching a real estate career: Start with pre-licensing Before you can sell real estate, you must obtain your real estate license through the Utah Division of Real Estate. You’ll start by taking 120 hours of pre-licensing coursework. After that, you’ll take the licensing exam. You must also have a high school degree or equivalent and pass a background check. Once you earn your license, the …

Down Payment Assistance for First Time Home Buyers in Davis County.

Northern Wasatch Association of Realtors Advice, Update

The Davis Community Housing Authority now has a down payment assistance for first time home buyers purchasing homes in Davis County.  Grants are up to $10,000 for qualified first time home buyers, the purchase price cannot exceed $325,000 and are not available in Clearfield, Fruit Heights, Layton and South Weber. For additional information or to apply for a grant, please contact Mary Swanstrom at 801-939-9198 or dchamswanstrom@xmission.com. Or visit: http://www.daviscommunityhousing.com/other-programs