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Rental Rates On The Rise
With the increasing popularity of living in walkable communities, rents are on the rise in areas such as downtown Brickell and Coral Gables. The fact that there are so many new buildings with great amenities and upgraded finishes, such as granite counter tops and modern kitchens and baths, in these two areas have lead to an increase in demand and rents. An unfurnished 2 bedroom 2 bath condo in a newer building starts at $2000.
Mortgage Interest Deductions: Should They Be Eliminated?
Since before I owned or started selling real estate, the mortgage interest deduction has existed and been one of the main benefits espoused for buying a home. In addition to building up equity, it has been argued that this is one of the deductions that is helpful for lowering taxes due, especially for individuals and couples with few other tax deductions.
The mortgage interest deduction was one of the items recommended be trimmed, to help control the national debt, by President Obama’s deficit-reduction commission last December. The panel addressed the interest deduction for first and second mortgages and equity lines of credit. Other real estate targets included in the were tax write-offs for property taxes paid and the capital gains exclusions ($250,000 and $500,000) for individual and married taxpayers who make a profit when they sell their residence.
As a homeowner, Realtor, and real estate investor, I want to keep all of these deductions. However, there are some I would be willing to live without in exchange for decreasing the national debt. I would be willing to forgo the mortgage interest on second homes and on equity lines of credit to keep the deduction on primary home interest, capital gains exclusion and property tax write off? What do you think? Are there any you would be willing to give up? If so, which ones?
Bike Ride Over A Chinese Bridge – Where’s JWo Answer
Chinese Bridge At Deering Estate
Look closely at the bridge. Recognize any of it from the “Where’s JWo” picture posted last Sunday?
Part of the Deering Estate, the Chinese Bridge was constructed in 1918 by Charles Deering to cross Cutler Creek. He chose the Chinese theme to remind him of his travels through Asia when he was a Navy Officer.
This is a great pathway to walk, bike or jog as the main portion of it is closed to traffic. If you start on 152 Avenue, ride all the way down through native rock Pinelands and end at the People’s Dock for a great a peak at the nature that abounds in South Florida.
Things To Do In Miami President’s Day Weekend
Well, this is the time of year when there is so much to do in Miami that it is hard to choose! In addition to the Coconut Grove Art Festival, it is the weekend of the Miami International Boat Show.
Coconut Grove Art Festival is This Weekend
Festival 2011 Poster by Guy Harvey
The Coconut Grove Art Festival takes place this weekend. In addition to seeing some fun, different art, it is a great time to stroll the streets, taste food, and bump into friends.
I love this year’s poster!
Happy Valentine’s Day!!
I love:
- my family
- my friends
- living in South Florida
- my clients
- referrals!
- red wine
- dark chocolate
- traveling
- the beach
Where’s JWo?
Recognize this picture? Where am I and what do you know about the location? If you don’t know, stay tuned for the answer in a future blog.
How Rising Mortgage Rates Affect Your Buying Power
This table from the KCM post “The Cost of Waiting for Prices to Fall” is a great visual to update my post from yesterday regarding mortgage rates hitting the 5% mark
Mortgage Rates Hit 5%
Mortgage rates are inching up, currently hovering around 5%. According to a CNNmoney.com report, interest rates at 5% don’t affect home buyers. While 5% is still low, and would only add slightly to a monthly mortgage, a continued increase in rates will affect the amount of home a buyer can purchase.
Other posts that discuss mortgage rates include:
Mortgage Rates – How An Increase In Rates Affects Your Purchasing Power
Fannie Mae and Freddie Mac Increasing Interest Rates and Fees
The Difference between Cost vs. Price
Things To Do With Kids In Miami – Lalanne At Fairchild Tropical Garden
Take advantage of what is supposed to be another beautiful South Florida weekend and get outside. The animal sculptures of Francois-Xavier Lalanne are on exhibit at Fairchild Tropical Garden and are sure to delight children of all ages. Two of my personal favorites are included here. Which one is yours?
Lalanne Shark Sculpture At Fairchild Tropical Gardens
Lalanne Owl Sculpure At Fairchild Tropical Garden
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