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According to the Internal Revenue Service, the primary residence you sold in 2023 may have federal tax benefits that can help you avoid capital gains on the sale, if you meet certain criteria for ownership and use of the home. To claim a tax exclusion, you must have owned the home for at least two years […]

Granite has ruled the luxury kitchen design world for decades, its popularity surpassing marble, quartz, limestone, soapstone, and other luxury materials quarried from the earth. The whites, grays, blacks, beiges, and browns of stone bring an attractive earthiness to interior design, giving a designer look to any kitchen and bath. But stone has its drawbacks. […]

Postcard-pretty from every angle, Smith Mountain Lake has been called the “Jewel of the Blue Ridge Mountains” because it brims with idyllic charm. This tranquil destination in central Virginia is the state’s second-largest freshwater lake featuring 500 miles of shoreline surrounded by a cluster of communities anyone would be proud to call home. The 20,000-acre […]

The U.S. avoided a recession in 2023, and some say it will have a soft landing in 2024. Inflation has hovered in the 3% range for many months—higher than the central bank would prefer, but at 2.6% for personal consumption expenditures (PCE), it’s closer to the target range of 2% and far from the double-digit highs since the […]

Smith Mountain Lake (SML) is one of Virginia’s most popular getaway destinations for a good reason; recreational opportunities abound here and the greater Roanoke region, no matter the season. Rain, shine, or snow, you will always find activities to try in and around Smith Mountain Lake. This is your guide. WHAT YOU NEED TO KNOW […]

House sizes have come a long way from 1973 when the average home was 1,660 square feet. The average in 2015 was 2,687 square feet, and since then home sizes have fluctuated, according to the economy, mortgage interest rates, and overall affordability. The question is – how much space do you really need? Automobiles with luxuries like […]

While many potential homebuyers have been knocked out of the market by higher mortgage interest rates and home prices, there’s hope on the horizon that they’ll have better luck in 2024. Banks are tightening their lending standards due to increases in credit card and car loan delinquencies, according to Freddie Mac. This is also impacting mortgage […]

When you sell your home, things can go smoothly or go wrong, and which way it goes depends largely on how well you prepare for the transaction and respond to glitches that may occur along the way. Your Berkshire Hathaway HomeServices network professional can help you determine the right asking price to sell your home […]

Many homeowners who need to make a move may be reluctant to sell their homes because they have a low interest rate and will pay a much higher price for their next home, as well as a higher interest rate in today’s market. Renting out an existing home and buying another property is an attractive […]

Lack of supply in the resale market is favorably impacting new home sales. In September 2023, the pace of new home sales was up 33.9% year over year to a seasonally-adjusted rate of 759,00 units. The median new home sale price in September was $418,800, down 12.3% compared to a year ago, largely due to builder […]