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Just Listed in Arlington

by ARLnow.com Sponsor December 15, 2017 at 6:00 am 0

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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”

Even in the holiday season, people still need to buy and sell homes. Between shopping and hanging decorations, 34 buyers ratified contracts this week while 28 sellers listed their homes for sale. Arlington’s real estate market just never stops. Of the 34 homes sold, seven sold within a week and six sold for $1 million or more.

Interest rates remained virtually unchanged with just a slight drop by two basis points to 3.98% for a 30-yr fixed rate. The Fed raised its short term rate for only the third time in 2017 to 1.5%. This doesn’t directly affect mortgage rates, but it does affect consumer rates like credit card debt.

The elephant in the room this week effecting the housing market is the latest tax reform plan in Congress. The House and Senate have reached a compromise plan that could be put to a vote next week. Key elements are:

— Allow mortgage interest deduction up to $750,000 debt on owner occupied home
— Double the estate tax exemption up to $11.2 million
— Keep deductions for medical expenses and student loan interest
— Keep deductions for teacher expenses for school supplies

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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