Really cool house actually. New sub btw. Looks like something from one of my screwed up dreams or nightmares. I have an issue with the very narrow door ways and many small rooms, ewwww! Some things about this house really intrigued me though. Loved the stair case and railing, as well as the landings. Just extra little spaces, but open and I could think of uses for them. My mind was racing with ideas, but at the same time fighting with the claustrophobia I tend to deal with.
According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,840 this year when filing their taxes. This is down slightly from the average refund of $2,895, last year.
Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals; for anyone looking to buy a Napa home in 2018, this can be a great jump start toward a down payment!
The map below shows the average tax refund Americans received last year by state. (The refunds received for the 2017 tax year should continue to reflect these numbers as the new tax code will go into effect for 2018 tax filings.)
Many first-time buyers believe that a 20% down payment is required to qualify for a mortgage. Programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae all allow for down payments as low as 3%, with Veterans Affairs Loans allowing many veterans to purchase a home with 0% down.
If you started your down payment savings with your tax refund check this year, how close would you be to a 3% down payment?
The map below shows what percentage of a 3% down payment is covered by the average tax refund by taking into account the median price of homes sold by state.
The darker the blue, the closer your tax refund gets you to homeownership! Not in Napa , but for those in Alabama looking to purchase their first homes, their tax refund could potentially get them 69% closer to that dream!
Saving for a down payment can seem like a daunting task. But the more you know about what’s required, the more prepared you can be to make the best decision for you and your family! Christine Hannah of Homes of the Napa valley: "This tax season, your refund could be your key to homeownership!"
The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017:
Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.
Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in Napa, sellers are in a great position to negotiate.
Do you know what your house is worth in today's market? Let Christine Hannah give you local Napa insights,
Christine Hannah Realtor/Broker
707-257-6000 CRS, SRES
Homes of the Napa Valley
CAL BRE# 01278037