Brad Garbutt

REALTOR®, Associate Broker

Since 1983, I have helped thousands of families and individuals buy and sell homes in Redding/Shasta County. The only thing that exceeds my experience is my commitment to you because whether you're buying or selling a home, your satisfaction is my number one goal. My commitment to you includes implementing the latest real estate technology and resources to effectively market and sell your property. When you're ready to buy or sell a home and you want exceptional service, call me!

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Realtors Fight Limits On Mortgage Interest Reductions

INDUSTRY NEWS, REAL ESTATE LEGISLATION, TIPS FOR BUYERS
March 17th, 2009

Mortgage interest deductibility has always been the sacred cow when it comes to real estate tax deductions. President Obama has proposed limiting the deduction for the wealthiest Americans.

The Obama budget proposes limits on mortgage interest deduction, property tax deduction and capital gains exclusions for households with adjusted incomes exceeding $250,000. These changes would take effect starting in 2011.

Many homeowners, incuding the upper end, count on these deductions as incentives to home ownership. Housing and banking trade groups fear reducing the write offs could cause housing prices to fall.  Limiting these incentives could also be the first step toward reforming the federal tax code.  Many real estate investments garner favorable tax treatment.

For a detailed list of real estate tax deductions, see my prior post:

http://movetoredding.com/?s=realtors+fight+for+tax+benefits

bradgreps@yahoo.com

530-224-6767 or 530-941-7492

BRAD GARBUTT

REALTOR/BROKER ASSOCIATE

REAL ESTATE PROFESSIONALS GMAC

QUARTER CENTURY LOCAL REAL ESTATE EXPERIENCE

This entry was posted on Tuesday, March 17th, 2009 at 1:18 pm and is filed under INDUSTRY NEWS, REAL ESTATE LEGISLATION, TIPS FOR BUYERS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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