Real Estate Agent Renton & Kent, median home prices to surge first quarter 2018

Will the Trump tax cuts reduce the amount of taxable deductions a mortgage holder can claim? Nobody knows for sure. But ultimately it doesn't really matter. Low inventory, low interest rates, and historic migration to the NW means prices can only go one way.

Renton, United States - December 5, 2017 /PressCable/ —

Real Estate Agents and Brokers in Kent and Renton are bracing for a buying frenzy at the begin of 2018. Prompted by uncertainty, buyers who have been sitting on the fence are worried that the interest they can write off on their mortgages of $500,000 or more will be reduced. While that may not be a problem for many across the country, for home owners South of Seattle, where the median home price is around $400,000 – $450,000, it represents a signification reduction in their yearly tax write off.

To speak with a top real estate agent in Renton and Kent click here, http://www.realestateprosnw.com

The massive appreciation of homes in these areas since 2012 have seen prices for many higher-end homes go from $700,000 to well over the $1,000,000 mark. “We just did a CMA (Competitive Market Analysis) for a client in Kent. He bought his home in 2013 for $750,000, today we estimate it’s worth 1.2 million dollars.” says Debra Batterson & Zan Dewar, licensed brokers at Dream Home Real Estate Inc in Renton Washington. Debra goes on to note that “In 2016 we saw a lot of interest in Renton from clients that wanted a residence that would appreciate nicely, in a city on the move up. Now we are also seeing the same types of buyers looking to get into real estate in Kent, for the same reasons.”

Buyers who are looking at the market long term are attracted by the potential of Renton and Kent, their close proximity to major arterial roads, highways and public transportation. But now the fear is that the potential for tax write-offs could be seriously diminished if they don’t get into a property sooner rather than later. “It’s causing a lot of uncertainty and fear in the market, and we expect to see further strain on the already diminished inventory in the NW. Short term we may see a spike in prices during this short buying window.” Zan goes on to say.

Contact Info:
Name: Zan & Debie
Email: realestateprosnw@gmail.com
Organization: Zan Dewar & Debra Batterson for Dream Home Real Estate Inc
Address: 17422 108th Ave SE , Renton, WA 98055, United States
Phone: +1-425-970-8301

For more information, please visit http://realestateprosnw.com

Source: PressCable

Release ID: 273933