- Experts See Home Values Busting the Bubble
A nationwide panel of 118 economists, real estate experts and investment and market professionals expects home values to end 2013 up an average of 4.6 percent and rise cumulatively by 22 percent, on average, over the next five years, according to the first quarter Zillow Home Price Expectations Survey.
- DC Housing Market Surges Back
While it’s clear that America’s urban housing markets have been making an exceptionally strong recovery thus far in 2013, it’s clear that certain metros are rebounding with notable speed. The overwhelming amount of these urban markets is distinguished by either a high population of 30-something professionals, or by a stalwart job market. These two quantifiers are both highly pronounced in the Washington, DC metro area, and as a consequence the city’s residential property is showing marked value growth.
- Vacation Homes: The Tax Perspective
The Internal Revenue Code has specific tax laws surrounding vacation homes that a taxpayer rents and also enjoys for personal use. Ultimately, the number of days rented versus days of personal use will impact tax reporting and to what extent expenses relating to the vacation home are deductible. The following highlights some of the most important aspects of these tax laws, but is not intended to be a complete discussion.