As you probably have heard by now, the Tax Reform bill has passed and is awaiting President Trump's signature which most likely will happen before the end of the year. So, what effect will this have on the Boston real estate market?
The National Association of Realtors has put together a fantastic article summarizing the impact the bill will have specifically on current and prospective homeowners as well as those of us who practice real estate as a business or as investors. I've included a link to the article at the bottom of this post and highlighted some of the essential points below.
Exclusion of Gain on the Sale of a Principal Residence
- The original version of the bill proposed that the time a homeowner must live in their primary