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Insights into the Raleigh Mortgage and Housing Market for Fall 2023

September 14, 2023 by martinimo

September 14, 2023

The vibrant city of Raleigh and all cities around North Carolina are prepping to witness seasonal shifts not just in its climate, but in its real estate and mortgage sectors too. This fall, there are significant insights that potential homebuyers should be aware of. Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini shares 3 things to know about the Raleigh mortgage and housing market in the fall of 2023.

Table of Contents

  1. Housing Inventory is Running Low
    1. Settling into the New Raleigh Mortgage Rate Norm
      1. The Upward Trend of Raleigh Home Prices
        1. Expert Take: Kevin Martini’s Perspective
          1. Raleigh Mortgage Broker Logan Martini
          2. Raleigh Mortgage Broker Kevin Martini
            1. Media Bio of the Author: Kevin Martini

Housing Inventory is Running Low

Scarcity of Homes Available:
The pulse of any real estate market is its housing inventory. This metric quantifies the number of homes currently available for sale. Another way to assess this is by calculating the months’ supply – estimating the time it would take to exhaust this inventory considering the current demand.

In a market that strikes a balance between demand and supply, a six-month inventory is typical. However, Raleigh’s current situation and many cities all over North Carolina depict a tighter scenario with just about half of that estimate. This low inventory inevitably boosts buyer competition, leading to situations where houses attract multiple offers. In such a competitive landscape, partnering with a seasoned professional could be your key to success. That is why in this market it is essential to not just get qualified but approved for your Raleigh mortgage before the home search. Obviously, mortgage approval will give you price and cost clarity but most importantly. it provides a homebuyer and a home seller with certainty.

Settling into the New Raleigh Mortgage Rate Norm

Welcome New Era of 6-7% Raleigh Mortgage Rates:
2022 saw an unprecedented leap in mortgage rates – doubling within the year. Such a drastic rise prompted potential buyers to hit the brakes on their purchasing plans. However, as of the previous fall, the dust seems to have settled, bringing the rates to hover around 6% to 7%. It’s crucial to recalibrate expectations and acknowledge that the days of 3% mortgage rates are now behind us.

The Upward Trend of Raleigh Home Prices

A Surge in Property Valuation:
If you are plugged into the news, you might be riding a rollercoaster of uncertainty concerning home prices. Here’s a comforting thought: The most significant dips in home prices are in our rearview mirror, with national appreciation on the horizon.

However, always remember, that property valuations can be hyper-local. Factors such as limited inventory coupled with robust buyer demand continue to exert upward pressure on prices. An assertion by Doug Duncan, the Chief Economist at Fannie Mae, reinforces this trend: “…housing prices are surpassing prior expectations, reflecting the robustness of demand driven by demographics…”

Given this scenario of rising prices, prospective homebuyers might want to act rather than wait, ensuring they lock in the best value.

Expert Take: Kevin Martini’s Perspective

A Glimpse Beyond Perception:
While perceptions can often blur realities, it’s essential to base decisions on tangible facts. Fall 2023 is ripe with opportunities for those willing to explore. Collaborate with Kevin Martini or a seasoned Mortgage Strategist from the Martini Mortgage Group, ensuring that your decisions are well-informed and robust.

Raleigh Mortgage Broker Logan Martini
raleigh mortgage broker logan martini
Raleigh Mortgage Broker Kevin Martini
Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini
Media Bio of the Author: Kevin Martini

Kevin Martini, empowers families to create generational wealth through real estate with the perfect mortgage strategy.

His proprietary system has revolutionized consumer-lender relationships in the mortgage industry, and as a result, he has originated over a billion dollars in home loans since 2006. Kevin’s passion and intentionality lie in constantly pursuing perfect mortgage solutions that align with clients’ fluctuating personal circumstances and market conditions. He is genuinely dedicated to helping clients make intelligent financial decisions to facilitate wealth growth, future planning, and progress toward a debt-free retirement.

Kevin has been recognized as one of the top 50 Mortgage Originators in the country. His contributions to the field have earned him features in esteemed publications such as Forbes Bankrate and CNET. In addition, he frequently shares his knowledge at real estate and mortgage conferences. He also hosts the Martini Mortgage Podcast, which provides up-to-date, factual content on real estate and mortgages.  

His Instagram and YouTube channels serve as platforms for various content, including breaking news, emerging stories, and innovative strategies curated to provide a comprehensive understanding of the real estate and mortgage arena.

Filed Under: Home Loans, Home Values, Housing, Housing Market, Kevin Martini, Logan Martini, Mortgage, Mortgage Broker, Mortgage Rates, Raleigh, Raleigh Mortgage, Uncategorized Tagged With: Buying a Home in North Carolina, Buying a Home in Raleigh, Kevin Martini, Logan Martini, North Carolina, Raleigh, Raleigh Mortgage Broker, Real Estate

The Comprehensive Raleigh Homebuyer & Raleigh Mortgage Guide for Fall 2023 | Martini Mortgage Group Homebuyer Guide

September 12, 2023 by Kevin Martini

Embarking on the home-buying journey is both exciting and daunting. Raleigh mortgage broker Kevin Martini and Logan Martini present the Ultimate Raleigh Homebuyer and Mortgage Guide for Fall 2023, tailored to guide you every step of the way.

The Comprehensive Raleigh Homebuyer & Mortgage Guide for Fall 2023

Embarking on the home-buying journey is both exciting and daunting. Raleigh Mortgage Broker Logan Martini and Certified Mortgage Advisor Kevin Martini present the Ultimate Raleigh Homebuyer and Mortgage Guide for Fall 2023, tailored to guide you every step of the way.

About the Real Estate and Mortgage Guide (a.k.a. Martini Buyer Guide):

Crafted meticulously by Kevin Martini and Logan Martini, this guide is a beacon for first-time homebuyers and seasoned real estate navigators. With the ever-changing landscapes of real estate and mortgages, it’s crucial to have a trusted resource that demystifies the current housing scene and equips you with up-to-date insights.

In the Fall 2023 edition, you’ll dive into comprehensive articles explaining the nuances of the homebuying process and mortgage intricacies. From understanding the ebbs and flows of the real estate market to demystifying the mortgage realm, this guide ensures you’re armed with knowledge, confidence, and clarity.

Featured Insights in the Homebuyer Guide:

ultimate raleigh homebuyer guide and mortgage guide by martini buyer guide
  • Current Housing Market Analysis: Unravel the housing market dynamics and discover how Raleigh’s mortgage rates, hovering around 6% to 7%, are shaping the industry. Read More
  • Two Crucial Questions for Prospective Homebuyers: Dive deep into critical considerations, focusing on future home prices and mortgage rate trajectories. Explore the Insights
  • Strategic Homebuying Approaches: Discover the “Marry the home and flirt with the rate” strategy, pioneered by the Martini Mortgage Group, to make informed buying decisions. Uncover the Strategy
  • Mortgage Rates & Their Impact: Grasp how subtle shifts in mortgage rates influence your purchasing power and overall investment. Learn More
  • Down Payment Assistance: Initiatives and programs designed to bolster your home-buying potential, especially for those eyeing their first property or planning an upgrade. Check Out Available Programs
  • Homebuying Tactics in the Current Market: Revisit time-tested tactics like the Temporary Seller-Paid Buydown to enhance affordability and gain a competitive edge. Discover the Tactic
  • Long-Term Value of Homeownership: A deep dive into the sustained benefits of owning a home, complete with engaging graphics and evidence-backed insights. See the Benefits
  • The Mortgage-first Approach: Uncover why securing a mortgage should be your first step before diving into the house hunt. Know Why
  • Protection Against Inflation: Understand how homeownership protects against inflation, ensuring stable monthly housing expenses. Get the Details

Connect & Conquer Your Raleigh Real Estate Ambitions

With such a significant investment on the horizon, it’s natural to have many questions. Kevin Martini and Logan Martini are eager to discuss your insights from the Fall 2023 Martini Buyer Guide and aid you on this transformative journey. Reach out at (919) 238-4934 – your dream home awaits!

Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini
raleigh mortgage broker logan martini
Kevin Martini Certified Mortgage Advisor | Martini Mortgage Group
Kevin Martini has been an innovator in transforming how consumers view their mortgage lending relationship. Since 2006, Kevin Martini and his Group of …

Logan Martini Senior Mortgage Strategist | Martini Mortgage Group
I am a proud member of the Martini Mortgage Group. I believe in relationships because people matter most…I believe in the relentless pursuit of solutions …

About Kevin Martini: Kevin has revolutionized the home buying process with his bespoke mortgage strategies, having originated over a billion dollars in home loans since 2006. Recognized as one of the top 50 Mortgage Originators nationwide, Kevin’s mission revolves around fostering informed financial decisions, cultivating generational wealth, and progressing towards a secure retirement. Engage with his profound insights on the Martini Mortgage Podcast, Instagram, and YouTube channels.

2-1 Buydown: A Strategic Approach to Homeownership in the Current Mortgage Climate
In today’s rapidly shifting and unique real estate landscape, potential homebuyers may feel overwhelmed by the

Evaluating Your Wants and Needs as a Homebuyer
When it comes to buying a home, the process can be both exciting and overwhelming. With so many options

Understanding Home Prices and Raleigh Mortgage Rates: Key Questions to Consider
Gathering reliable information about the housing market is essential if you’re looking for a home. With

Filed Under: 1-0 Buydown, 100% financing, 2-1 Seller-Paid Buydown, Affordability, Buy a Home, buydown, buydown mortgage, Buydowns, Certified Mortgage Advisor, Down Payment, FHA Home Loan, Home Loan, Home Loan Rates, Home Loans, Home Values, Homebuying Strategies, Housing Market, Kevin Martini, Logan Martini, Martini Buyer Guide, MCC, Mortgage Broker, Mortgage Rates, mortgage strategy, North Carolina Housing and Finance Agency, Raleigh, Raleigh Mortgage, Raleigh Mortgage Broker, Raleigh Real Estate, Real Estate, real estate market, Seller Strategy, temporary buydown, Things to Consider when Buying a Home, zero down payment Tagged With: Buying a Home in Raleigh, Down Payment Assistance Raleigh, First-Time Homebuyer Tips, Homeownership Benefits 2023:, Kevin Martini, Kevin Martini Expertise, Logan Martini, Mortgage Insights Fall 2023, Mortgage Rate Strategies, Mortgage Tips, Protect Against Inflation, Raleigh, Raleigh Homebuying Guide, Raleigh Mortgage Broker, Raleigh Mortgage Lender, Raleigh Real Estate Trends

Understanding Capital Gains Tax: A Comprehensive Guide for Home Sellers by Mortgage Broker Logan Martini

July 16, 2023 by Kevin Martini

In the ever-evolving world of real estate transactions, it is crucial for home sellers to possess a profound comprehension of the implications of capital gains tax. The sale of a home is a significant financial decision, and being well-informed about the tax aspects can enable you to make educated choices and maximize your financial gains. In this comprehensive guide, we will explore the intricacies of capital gains tax, providing valuable insights to navigate this crucial aspect of selling your home.

What is Capital Gains Tax?

Capital gains tax refers to a tax levied on the profit earned from the sale of an asset, including real estate properties. When you sell your home at a higher price than the original purchase cost, the difference is considered a capital gain. This gain is subject to taxation by the government. Understanding how this tax is calculated is essential to ensure compliance with the law and optimize your financial gains.

Determining Your Capital Gain

To ascertain your capital gain, you must calculate the disparity between the sale price of the property and its adjusted cost basis. The adjusted cost basis refers to the original purchase price of the property, adjusted for various factors such as improvements, depreciation, and transaction costs. Maintaining meticulous records of these expenses is crucial for accurately calculating your capital gain and reducing your tax liability.

Types of Capital Gains

There are two types of capital gains: short-term capital gains and long-term capital gains. The categorization depends on the duration you held the property before selling it.

Short-term Capital Gains

If you held the property for one year or less before selling, the resulting capital gain is considered short-term. Short-term capital gains are typically taxed at your regular income tax rate, which can be significantly higher than long-term capital gains tax rates.

Long-term Capital Gains

If you held the property for more than one year before selling, the capital gain is classified as long-term. Long-term capital gains enjoy preferential tax rates, which are generally lower than regular income tax rates. The exact tax rates for long-term capital gains vary based on your income level and the applicable tax laws.

Exemptions and Deductions

Although capital gains tax is applicable to most real estate transactions, there are certain exemptions and deductions that can help reduce your tax liability.

Primary Residence Exemption (a.k.a. Section 121 exclusion)

If the property you are selling is your primary residence and you meet specific criteria, you may qualify for a primary residence exemption. This exemption allows you to exclude a portion of your capital gain from taxation. According to U.S. tax laws, you may be able to exclude up to $250,000 of your capital gains from tax if you are single, or up to $500,000 if you are married and filing jointly. This exclusion is available if you have lived in and owned the home for at least two of the last five years before selling. It is important to refer to IRS Publication 523 and IRS Publication 544 for more information and to consult with a tax professional to understand the eligibility criteria, as specific rules and limitations apply.

Taxable Gain Exclusion

Even if you have a taxable gain on the sale of your home, you might still be able to exclude a portion of it if you sold the house due to work, health reasons, or “an unforeseeable event,” as defined by the IRS. For specific details and eligibility requirements, you can refer to IRS Publication 523.

Capital Improvements

The cost of capital improvements made to your property, such as renovations or additions, can be added to your adjusted cost basis. By increasing the adjusted cost basis, you effectively reduce your capital gain and subsequently lower your tax liability.

Strategies for Minimizing Capital Gains Tax

While it is not possible to completely avoid capital gains tax, there are several strategies you can employ to minimize its impact on your financial outcome.

Tax Loss Harvesting

If you have other investments that have incurred capital losses, strategically selling those assets can offset your capital gains. This technique, known as tax loss harvesting, helps reduce your overall tax liability. To understand the eligibility criteria and specific rules and limitations, it is crucial to consult with a tax professional.

1031 Exchange (for investment properties only)

Under Section 1031 of the Internal Revenue Code, you can defer paying capital gains tax by reinvesting the proceeds from the sale of one property into the purchase of another similar property. This strategy, commonly known as a 1031 exchange or like-kind exchange, allows you to postpone your capital gains tax liability and potentially expand your real estate portfolio.

Raleigh Mortgage Broker Logan Martini Bottom Line

Understanding capital gains tax is crucial for home sellers to navigate the intricacies of real estate transactions successfully. By comprehending the tax implications and employing strategic techniques to minimize your tax liability, you can optimize your financial outcome. Remember to consult professionals who can provide expert advice tailored to your specific situation since this article serves for informational purposes only and should not be considered legal, tax, or financial advice.

Given the complexities of capital gains tax and its implications, it is advisable to seek professional guidance from a qualified tax advisor. They can provide personalized advice based on your unique circumstances, ensuring compliance with tax regulations and helping you make the most informed decisions.

raleigh mortgage broker logan martini

Logan Martini | NMLS 1591485 | Senior Mortgage Strategist | Martini Mortgage Group at Gold Star Mortgage Financial Group, Corporation | NMLS # 3446 | 507 N Blount St, Raleigh, NC 27604 | (919) 238-4934 | www.MartiniMortgageGroup.com | Logan@MartiniMortgageGroup.com | Equal Housing Lender

Filed Under: 1031 Exchange, Annual Exclusion, CAPITAL GAINS TAX, Logan Martini, Raleigh, Real Estate, Section 121 exclusion, Seller Strategy, Selling Home, Tax Benefits Tagged With: Logan Martini, Primary residence exemption, Real Estate, Section 121 exclusion

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