With mortgage meltdowns, plummeting home prices and soaring foreclosure rates constantly in the news, it’s no wonder people are wary of the housing market these days. But contrary to popular belief, things are not as dismal as they seem, according to Lawrence Yun, chief economist of the National Association of Realtors.
Some of the best perks of owning a home are the tax breaks. By knowing what expenses you can deduct and how new laws may affect you, this could be the best time to buy or build a home. The Tax Foundation has reported that for the past three decades, Tennessee’s state and local tax burden has consistently ranked among the nation’s lowest. CNNMoney.com states that Tennessee ranks 48th with an 8.5% tax burden as a percentage of income. By way of comparison, Vermont is the highest with a 14.1% tax burden.
At East Tennessee Luxury Properties we encourage you to take advantage of year end specials that will allow you to maximize tax savings. On November 9th, we will host a Showcase Open Event at The Enclave at Cove Mountain, Gatlinburg,TN on Sunday, November 9th from 1– 4 PM. Special incentives and pricing, including discounts up to 25%, will be offered that day on exclusive home sites.
Gatlinburg’s premier, non-rental, gated community offers unparalleled views of the Great Smoky Mountains – views which will never change as the Enclave is surrounded on all four sides by federally protected property.
Fourteen exclusive home sites from $395,000 to $825,000 will be available for tours. Special pricing, including discounts up to 25%, and incentives will also be available the day of the event. Additional information about The Enclave at Cove Mountain
may be found at www.enclaveluxuryhomesites.com or by calling 865-379-8729.