Boston, MA – Tax Season 2016

It’s that time of year again – tax season is here. If you sold your Boston, MA home in 2016 then you have some tax deductions owed to you from the IRS. It does involve you itemizing your taxes, but, it is worth your while to get the benefits. Here are a few tax deductions to speak to your tax expert about.

Selling Costs. There is an exclusion on any taxes on your Boston, MA home sale profit if the profit is less than $250,000 for individuals and $500,000 if filling a joint return with your spouse. If you happen to not qualify for that exclusion you will need to pay taxes on any profit so make sure you deduct all your selling costs from your gain such as commission, legal fees, escrow fees, and more. 
 
Moving Deduction. If you sold your Boston, MA home because you are relocating for work you may be able to deduct some of your moving expenses such as transportation, storage, and lodging.

Home Improvements. If you made any improvements to your home that helped you sell your home, such as fixing a leaking roof, you may be able to deduct these costs. The improvements need to be made within 90 days of the closing to be considered selling costs. 
 
There are other home sale deductions possible and it would be best to check with your tax expert to confirm as deductions can vary from state to state. If you haven’t sold your Boston, MA home but are preparing to do so in 2017, contact a Boston, MA real estate agent. I am happy to help you sell your Boston, MA home!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Boston, MA – Winter Farmer’s Markets

Farmers markets are one of the easiest places to sample the tasty harvests of local Boston, MA farms. You'll find a diversity of foods fresh from the fields and meet the people who grow your meal. Plus, every dollar paid directly to a local grower is a dollar reinvested into Boston, MA communities. Many of us frequent the markets during the summer months, but, there are plenty of options in the winter to continue to buy locally grown food. Here is a sampling of some of the farmer’s markets that are open this winter in the Boston area.

Somerville Winter Market. Open Saturdays from 9:30am - 2pm through April at The Armory, about 25 vendors are featured each week. In addition to local winter produce the market features local meat, fish, eggs, cheese, and baked goods. Most weeks there is also live music!

Dorchester Winter Market. Open Saturdays from 10am – 1pm through March 19^th at the Great Hall in Codman Square. Each week features community organizations, children's activities, and special guests. Several local farms have a bounty of winter vegetables to offer along with local meat, seafood, cheese, and more.

Natick Winter Farmer Market. Open Saturdays from 9am – 1pm, year-round, at the Common Street Church in Natick. This market features several farms, local meat and poultry, wine, seafood, coffee/tea, breads/pastries, Wicked Good Chowder, cookies, cheese, honey, and assorted pickled vegetables.

I hope you take the time to visit one or more of these markets and fill your pantry with locally grown, sustainable food. As your Boston, MA real estate agent I am always here should you have a question on a Boston, MA neighborhood such as South End, Fenway, Beacon Hill, or any other. I thoroughly enjoy getting prospective residents familiar with new neighborhoods and exposing them to the best of everything Boston has to offer. I hope to speak with you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Home Sales Up in Boston, MA

The holidays are over and we are settling in for a long winter here in Boston, MA.  Soon after winter slows down, next comes the spring real estate market. Many would-be home-sellers wait until this time to put their Boston, MA home up for sale. But, if you are wondering if now would be a good time to sell your Boston, MA home, you are not alone. Is now a good time? The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.

Homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range. But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales of homes over $250,000 increased by double-digit percentages.  Furthermore, sales in the $750,000- $1 million range showing the largest increase, up 43.2%! As home prices in Boston, MA continue to accelerate, it is no surprise to see the percentage of homes in the higher price ranges increasing.

What does this mean for Boston, MA home-sellers? Houses are selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit down with your Boston, MA real estate agent to see if it is priced appropriately to compete in today’s market.

If you are concerned about entering the market, have no fear – a Boston, MA real estate agent is your best asset to accomplish your real estate goals and more. If you’d like to dramatically increase the chances that your home sells, you should list your home with a Boston expert. As a real estate professional, I am an expert in our area and will know exactly what needs to be done to get your home sold quickly and for top dollar. Make your home selling experience an educated one. Please contact a Boston, MA real estate agent today to start the process.

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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