Planning To Retire? Your Equity Can Help You Reach Your Goal. Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone.  Research  from the  Retirement Industry Trust Association  (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired. If this sounds like you, one thing worth considering is whether or not your current home will suit your new lifestyle. If your home doesn’t have the features or benefits you’re looking for, the good news is, you may be in a better position to move than you realize. That’s because, if you already own a home, you’ve likely built-up significant  equity , and that can help you fuel your next move.  According  to the  National Association of Realtors  (NAR): “A homeowner who purchased a typical home ...

  What Experts Say Will Happen with Home Prices Next Year Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years,  home prices  have risen at an unsustainable rate, leaving many to wonder how long it would last. If you’re asking yourself:  what’s ahead for the price of my home,  know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value. Historically, home prices have appreciated at a rate near  4% . For 2023, the average of six major forecasters noted below is 2.5% .  While one,  Zelman & Associates , is calling for depreciation, the other five are calling for appreciation. The graph below outlines each expert forecast to show where they project home prices are going in the coming year. To understand why experts are calling fo...

Markel Realty Group is pleased to announce that Seth Lancaster has been made a partner in the brokerage. He has proven to be a tremendous asset with his enthusiasm for real estate, knowledge of technology and desire to make the brokerage grow. Seth will continue to assist others in the brokerage with technology and will also recruit other Realtors who will work well with our team. If you know of anyone who would like to work with our fantastic, always-on-the-cutting-edge team, let us know. We are looking forward to our best year yet. Congratulations, Seth.

Mortgage Debt Relief Act Extended for Another Year 01/02/2013 By: Esther Cho Struggling homeowners who are considering a short sale or modification will be eligible for tax relief in 2013. The “fiscal cliff bill” passed by Congress on January 1 included a provision to exclude borrowers from paying taxes on debt forgiven through a short sale, foreclosure, or loan modification. Known as Mortgage Debt Relief Act of 2007, the act was scheduled to expire December 31, 2012, but received an extension for another year. Industry experts and political leaders from all sides expressed support for the act’s extension. In November, 41 state attorneys general wrote a letter urging U.S. House and Senate leaders to extend the act, arguing the act’s expiration would take away from the effectiveness of the national mortgage servicing settlement . Through the settlement, state and federal officials reached an agreement with five of the ...