Real Estate in 2013The new year is right around the corner and there are plenty of trends, questions and forecasts being made. The local San Antonio movers learned both Republicans and Democrats are considering a cut in the mortgage interest deduction. This deduction would be done either through a cap, a reduction in the rate at which deduction are taken or converting the deduction into a credit. The All My Sons of San Antonio learned that cutting the mortgage interest deduction costs the federal government about $100 billion annually in revenue, so these changes would help narrow the deficit. However, the local San Antonio moving specialists know that these new year changes would mean that owning a home will be more expensive for people, not to mention it would decrease home values especially in real estate markets where homes demand a higher asking price.
The local San Antonio movers learned that foreclosures in 2013 will no longer be a national issue. The foreclosed home inventories are more found in areas where foreclosure proceedings make it into court. These states include Florida, Illinois, New Jersey and New York. Affordable homes are also no longer a national problem, high prices and affordability is mainly an issue in big, coastal cities such as San Francisco. Some states also have limitations on new construction which only adds to the problem of affordable housing. The local San Antonio movers learned that most housing issues in 2013 will be dealt with on a local level and involve less of the politics of Washington.
In 2012, the real estate industry saw record low mortgage rates, making homeownership 45% cheaper than renting. In some markets, owning a home is even more affordable than renting a place even in expensive ones including Honolulu. But the All My Sons of San Antonio learned that since the home prices are going up fast these days, it's affecting affordability again. The mortgage rates are also going up, making it harder to qualify.
What are you thinking for the new year? Will you be moving to a new place? Buy your own home? If so, call the local San Antonio movers for a stress-free moving day and professional movers. Our moving services include a reliable team, an affordable moving quote and experience that's backed by four generations of moving. The All My Sons of San Antonio will help you assemble your delicate furniture and even help you with packing should you want to hire someone to do the work for you. We'd love to hear from you when you're ready to move in Texas.