Latest news with #EricBramlett
Axios
01-07-2025
- Business
- Axios
Some homeowners could see tax breaks if Trump's bill passes
Real estate brokers are cheering a provision in President Trump's " big, beautiful bill." Why it matters: Expanding the state and local tax (SALT) deduction could be boon for homebuyers in expensive areas where taxes run high. How it works: The latest version of the legislation proposes to raise the deduction cap from its current $10,000 a year limit to $40,000 for five years. Homeowners with relatively high incomes and steep property taxes especially stand to save. Catch up quick: A group of Republican lawmakers from blue states with high taxes led the charge. Before 2017, when Trump signed his first-term taxes into law, people could deduct all state and local taxes from their federal bills. The big picture: Property taxes have soared nationwide in recent years. The top states with the most properties taxed at $10,000 or more annually are New Jersey (39.9%), New York (25.9%), Connecticut (19.4%), California (19.3%) and Massachusetts (18.4%), according to a report from What we're hearing: The National Association of Realtors previously cheered the SALT push as a key win for real estate. Case in point: In property tax-heavy Texas, buyers might spring for roomier or flashier houses knowing bigger tax breaks await, says Eric Bramlett, who owns an Austin brokerage. That could free up inventory for other house hunters. "The accountant's desk will be the first domino, and open house traffic will be the next," Bramlett tells Axios. Between the lines: Sky-high housing costs are making it hard for many homebuyers to find a place they can afford. Economic uncertainty is also sidelining some shoppers. Reality check: Not everyone pays tens of thousands of dollars in state and local taxes. A SALT cap increase like the one moving through Congress "would have the most impact on homeowners in high-tax states and in high-dollar homes," said senior economist Joel Berner in the report.
Yahoo
07-02-2025
- General
- Yahoo
4 Outdated Home Features That Are Easy to Fix—and 1 That's a Major Red Flag
We may earn revenue from the products available on this page and participate in affiliate programs. Learn More › Remember sunken living rooms, wood paneling, and brass bathroom fixtures? Home design trends come and go like the fashion runway, and can taint your view of a property when you are in the market for a new home. 'I've been in real estate long enough to see home trends rise and fall,' says Eric Bramlett, realtor and owner of Bramlett Real Estate in Austin, Texas. 'What was once the must-have feature can quickly become the thing buyers want to rip out first. The good news is that a lot of outdated design choices are easy to fix and shouldn't stop you from buying a house.' However, some old features that go beyond aesthetics can be both expensive and dangerous to remedy, says Bramlett. 'Structural problems, outdated electrical, and hazardous materials are a different story. When you're buying a house, focus on what actually matters long-term. If it's something you can change with a little time and money, don't let it scare you away, but if it's a major safety or structural issue, that's when you need to think twice,' he advises. We spoke with homebuyers and real estate professionals to determine which outdated home features top their list. Here are four outdated home trends once in vogue that have fallen out of favor, but are fairly easy to change or update, along with one trend that is a total deal-breaker. Back in the day, before every family member had a cell phone and smart home systems were invented, bulky plastic intercoms were used to communicate with family members throughout the home. When touring a possible new home, these antiquated devices that were popular in the 1980s might catch your eye and make you wonder if you can live with them. The good news is that they are easy to remove or cover up with a bookshelf, piece of artwork, or hutch. Many of the people we spoke with mentioned outdated, unattractive walls, such as bold paint colors, loud wallpaper, decorative wallpaper borders, and stenciling on the walls. Writer Gary Wollenhaupt recently moved to Colorado Springs, Colorado, and dealt with old-fashioned walls. 'We were able to overlook accent walls and stencils because we've repainted many times,' he says. 'Apparently, the previous owners went to Paris on vacation and there are several Paris-themed stencils in the house, like one for a historic perfume shop in the primary bedroom and one for a patisserie on the kitchen pantry door.' Although Wollenhaupt has yet to address the Paris theme in his new home, he knows that these are easy fixes. They're the type of outdated home feature that shouldn't turn you away if you otherwise love the house. 'Some people see a house stuck in the 1990s and assume it's a bigger issue than it is, but a weekend project with a paint roller changes everything,' says Bramlett. Sheldon Sutherland, retail expert and owner of Epoxy Werx in Surprise, Arizona, recently purchased his first home and looked up to see unappealing popcorn ceilings. 'I came across a beautiful house from the 1990s, which had popcorn ceilings,' he says. 'Initially, this out-of-trend characteristic turned me off, but then I realized this cosmetic problem could be solved with a little effort and money,' he says. Dealing with the ceilings helped Sutherland understand home features in the market that are mostly cosmetic and easy to fix vs. structural changes 'that can completely ruin the deal.' Note: If popcorn ceilings were installed in 1980 or before, the texture may contain asbestos that requires professional removal for safety. While outdated lights are an eyesore, they are relatively easy and inexpensive to replace and shouldn't deter someone from buying a property. Content marketing and brand specialist Jasmine Charbonier recently bought a home in Tampa, Florida. She was turned off by its awful Hollywood-style vanity lights, shiny brass bathroom fixtures, and fluorescent box lighting. However, she said they are all easy to swap out as a quick DIY project. Bramlett agrees: 'They might look bad, but replacing light fixtures is quick and cheap. These kinds of updates don't cost much and shouldn't be a dealbreaker if the bones of the house are good,' he says. While some outdated home trends are easy to address, there are others that raise a red flag since they could end up being a major expense to update or fix due to heavy construction or health and safety issues. Sutherland faced the shock of discovering old wiring that was a big turnoff. 'A seemingly perfect house revealed its true colors when the inspector uncovered extensive knob-and-tube wiring hidden behind freshly painted walls, a potentially hazardous and budget-busting issue that immediately crossed it off my list,' he says. This experience taught him to look beyond surface-level eyesores, like the examples mentioned above, and focus on critical systems like electrical, plumbing, and foundation integrity. It's critical to hire a professional to do a thorough home inspection. 'In today's competitive market, where move-in ready homes command premium prices, savvy buyers can find value in properties with outdated aesthetics but solid bones, allowing for personalization without breaking the bank on essential repairs,' says Sutherland.
