Finding a Home You Love in a Crazy Market

photos of homes

Denver’s housing market is booming. It’s hot, it’s popular, and it seems that everyone learned Denver’s once well-kept secret…that it’s the best. With so many people moving to this great city, inventory has been low and demand has been high. Looking at the housing market, one might feel discouraged and wonder if it is even worth it to buy right now. We’re here to assure you – it is! Despite the high demand and low inventory of the Denver housing market, it is possible to find a home you love as you make this wonderful city your permanent home (until the next adventure, that is)!


It is vital to find a great real estate agent who is knowledgable about the market, a real estate expert, and someone dedicated to their clients. The right real estate agent will fight tirelessly for their clients, finding you the right home. Madison & Company Properties has over 140 truly incredible, highly recommended, and vetted Realtors® who can help you find your new home. Check out our website to find a Madison Realtor® who is right for you!


Finding the right home probably won’t happen overnight. It’s important to take time to learn about different neighborhoods, and know what you want going into it. Have a list of must-haves, really-wants, and can-live-withouts. Be flexible, you might get the giant backyard but no wrap-around patio, or there are the perfect number of rooms, but you wish the kitchen had a different layout. No matter the housing market, it is almost impossible to find a home that is 100% perfect (unless you design and build yourself!), but you can find the 100% right home. And remember – you can always paint, redesign, or renovate!


When purchasing a home, it is important to know your budget and what you can afford. Before even beginning to look for homes, find a mortgage broker and get pre-qualified on your mortgage loan.


And it will be okay. Bidding wars happen, folks come in with a bajillion dollars over asking price and you get bumped. It happens to everyone, and it will all work out in the end. This is one of the reasons it is important to hire a Realtor®, it is their job to negotiate, help you find the best home, and work with the seller to make sure everything is in line.

Tax Breaks: 6 Things Every Homeowner Needs to Know

calculator-385506Tax Day, April 15, is around the corner, and that means it is time to start getting taxes in order.


Whether you’re a new homeowner, or taxes just aren’t your thing, here are the deductions, credits, and tax breaks for homeowners you need to know about.


Going Green

In addition to the environmental impact and saving money on bills, going green can qualify you for both state and local tax breaks and credits. Visit your state, county, and city government websites to learn more about the tax breaks and credits you could qualify for.



Mortgage Interest Write-off

Not only can mortgage interest for your primary home be written off on your taxes, but in most cases a second home as well. Refinancing as well as home equity loans and home equity lines of credit of under $100,000 are also fully deductible.


Property Taxes

Homeowners can also write off all property taxes paid during the tax year they are filing for. These are the taxes already paid by the prior homeowner, and will be shown on the settlement sheet when you purchase the home.



Any points paid when you purchased the home are also tax deductible. The IRS considers points to be prepaid interest, and one point is equal to 1% of the principal loan amount. Some points cannot all be deducted at once and must be deducted over the lifetime of the loan.


Reverse Mortgages

Reverse mortgages received as loan advancements are not considered income by the IRS. Thus, the amount you receive isn’t taxable. However, any interest that builds on the loan cannot be deduced until the loan is paid off, differing from traditional mortgage interest.


If You Sell

office-620822While some restrictions apply, proceeds on the sale of a house are tax-deductible if they meet the ownership and residency requirements. These include, but are not limited to, living in the property for two of the five years before the sale and owning the property for two years. If the home is sold prior to meeting the requirements, the IRS may still provide tax relief if the sale was due to unforeseen circumstances such as health or employment.