For new homeowners, a house is an asset that can lower their tax liability. First-time homebuyers should be aware of the housing tax deductions and credits that can save them thousands and offset the cost of ownership. It might require a little more paperwork to claim these benefits, but the savings can make the effort well worth it. Whether you bought a home for the first time in 2015 or are planning to do so next year, find out how these homeowner tax breaks can keep more money in your pocket.
What will 2016 hold for homebuyers, sellers and renters? Here are the top real estate trends to watch for next year.
The Alabama Center for Real Estate (ACRE) reports, in its October residential sales report, that Alabama residential sales totaling 3,889 units during October reflect an increase of 2.7 percent growth from the same period a year earlier. Sales for the month continue to trend upward for the state, which bottomed out at 2,467 sales during October 2010, but has improved each year since. Sales are 22.3 percent above the October five-year sales average (2010-14) of 3,179 units.
Google is launching its own mortgage comparison tool via its Compare service. Beginning very soon, consumers all over the country will be able to shop for a mortgage on Google. The mortgage comparison tool is currently available in California, with more states to follow.
Alabama's housing market has improved since the recession as more jobs are coming to the state, and recent data from NerdWallet showed just where Alabama ranked among U.S. states for mortgage health. Alabama ranked 29th for its mortgage health, with an overall score of 64.22. North Dakota finished with the highest score for U.S. states at 98.13. Florida scored the lowest for Alabama's neighboring states at 20.17.