The recently passed Inflation Reduction Act (IRA) brings good news for homeowners looking to upgrade their energy systems. Between now and 2032, you have the opportunity to benefit from various tax credits made available under this new law. One significant change from previous legislation is the removal of a lifetime cap on tax credits. While there's a maximum of $3,200 per year, you can claim this amount annually until 2032. To make the most of these savings, consider spacing out your upgrades wisely. Here's a list of some eligible upgrades.
It's been a year of low volume sales in the twin cities real estate market. Closed sales are down 25% from last year. Nearly all the indicators suggest we are moving towards a more balanced market: Inventory is down, pending sales have decreased, and days on the market have increased. However, when you look at the median sale price and housing affordability, it becomes evident that the market still favors sellers.
So, grubs decided to make a feast out of our yard, and we grew tired of mowing that steep hill. The solution? We decided to transform it into a native prairie landscape, complete with a cool switchback trail. We'd been toying with this idea for a while but got stuck in the whole overthinking phase. Then, this year, we said, "Let's just do it!"
Homeowners remodel, redesign, and restructure their homes for a variety of reasons. In smart news, we share a report from the National Association of Realtors (NAR) that takes a deep dive into the reasons a homeowner remodels, the outcome of taking on projects, and the increased happiness found in the home once a project is completed. The report also contains:
· The typical cost of 19 remodeling and replacement projects, as estimated by members of the National Association of Remodeling Industry (NARI)
· How much appeal each project is likely to have for buyers, according to REALTORS®
· How much REALTORS® estimates that homeowners can recover on the cost of the projects if they sell the home.
Whether you want to know how much equity you have in your home, you’re hoping to take money out for improvements or you’re ready to sell, it is always good to know the current value of your home. A great way to be in the know is to use our Homebot tool to get updates on a regular basis. Homebot will send you one monthly email (no more, don’t worry, just one we swear) with tons of valuable information.
