There is no question that the pending tax reform bill has weighed heavily on the minds of buyers and sellers over the previous few weeks and although the final tax reform bill is certainly not perfect, we are pleased that it is significantly better for homeowners than previous versions.

Mortgage interest deductions have been reduced to a combined $750,000 of loan debt for primary residences and second/vacation homes. New homebuyers can deduct interest on up to $750,000 of combined mortgage debt. Current homeowners are grandfathered into the previous deduction to a combined debt limit up to $1 million. Proposals to eliminate the mortgage interest deduction on second and vacation homes were not passed with the new laws.

Interest deductions for home…

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