Changes in the tax law may be behind a surge in Florida luxury home prices. “The new law’s $10,000 limit on the deduction of state and local taxes is hitting owners hard in the affluent suburbs of New York City, including Westchester County, New Jersey and Connecticut,” say reporters at Financial Advisor magazine. That makes […]
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Should You Pay Off The Mortgage?
Thoughtful article by financial journalist Robyn A. Friedman on whether it makes sense to pay off the mortgage as you approach retirement. Debt-free peace of mind Many of our clients have paid off their mortgage entirely, usually because they wanted the peace of mind of being debt-free. When we sit down to review their retirement […]
Quote Of The Week: “Homes Getting Harder To Sell”
“Homes are getting harder to sell,” said Glenn Kelman, CEO of real-estate brokerage & website company Redfin. Kelman reported that the housing market hit a sudden and “significant” slowdown in the past few weeks that could continue through at least September. The slowdown in sales is especially pronounced in formerly fast-growing (and pricey) East and West […]
Young Buyers Say Home Not As Sweet As They Hoped
Interesting CNBC.com article a few days ago on how 70% of young millennial homebuyers “regret” buying their home. That’s truly sad. It’s a huge purchase, and not one that can be easily or cheaply undone. So what’s turning what should be one of the happiest occasions of their lives into a major case of buyer’s remorse? These […]
How House-Smart Are You?
Relocating to a new area? When is it best to buy, and when should you stick to renting? We were just interviewed by AARP for an article on “How House-Smart Are You?” in the June 2018 AARP Bulletin. We were asked when it makes sense to buy, and when you’re better off renting. It’s a topic we […]
What’s Ahead For Housing Prices?
What impact will tax reform have on housing prices? You’re probably aware that real estate taxes (and other local and state taxes) are only deductible up to $10,000 per year. There are also new caps on deductible mortgage interest. What does this mean for home prices? Here’s some insights to help forecast where home prices […]
Quote Of The Week: The Ultra-Cheap Mortgage Era Is Over
“Mortgage rates this week jumped to their highest level since 2011, signaling a shift from a period of ultracheap loans to a higher-rate environment that could slow home price appreciation and squeeze first-time buyers.” Laura Kusisto and Christina Rexrode, The Wall Street Journal, “Mortgage Rates Hit Seven-Year High as Ultracheap Era Ends,” May 18, 2018 The Takeaway: Interest […]
South Florida Luxury Real Estate Attracts Tsunami Of Foreign Money
File this under proof that we live in a truly global economy. It’s especially evident in South Florida, where some of our neighbors are likely to be foreign. Foreign investors spent a truly astonishing $7.1 billion on homes in South Florida last year, according to The Real Deal Miami. Where do those buyers come from? […]
Clearing Up The Confusion: Deducting Mortgage and Home Equity Interest In 2018
You probably know that last December’s Tax Cuts and Jobs Act changed the rules for deducting mortgage and home equity interest. Now, the IRS has fine-tuned the new guidelines, clarifying that you are allowed to deduct home equity interest in some cases. Here’s a quick summary. As always, consult your tax advisor for details relating to your situation. […]
New York Real Estate Isn’t Made Of Gold, After All
Attention, real estate tycoon-wanna-be’s. Hate to burst your bubble, but here’s some surprising news from Douglas Elliman Real Estate, the largest real estate brokerage firm in the New York area and the fourth largest residential real estate company nationwide. It seems that Manhattan homes actually proved to be poor investments during the past decade. Not […]
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About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for twenty five years. Mari has appeared in publications such as Business Week, CBS MarketWatch, Wall Street Journal, Kiplinger’s, Newsweek, and Money Magazine.
