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P. Dennis Connelly

Item of Value Letter February 2024

Ready for Tax Season? Here are a Few Housing-Related Tax Tips to Consider Tax season is upon us. Are you hoping for a big break on your tax return? As you prepare your 2023 taxes, here are a few housing-related items to keep in mind. Home interest deductions. Mortgages that closed before Dec. 16, 2017: A married couple filing jointly, and single filers can deduct mortgage interest on a combined debt limit of $1 million. Mortgages that closed after Dec. 16, 2017: For both primary residences and second home loans, married couples filing jointly and single filers can deduct mortgage […]

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Item of Value Letter January 2024

HAPPY NEW YEAR Home Décor Trends for 2024 Welcome 2024! With a new year comes new design trends. If you’re planning to refresh your home this year, here are a few decor trends according to Southern Living magazine. A Show of Restraint. Remove anything that feels unnecessary to ensure each item makes a statement and impacts the general aesthetic. Warmer Hues. Painting rooms, including trim, ceilings, and walls, in earthy tones like rich browns, mossy greens, raisin, amber and sunny yellows is in for 2024. Classic Details. Pleated upholstery details on furniture is a twist on traditional style that looks […]

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Item of Value Letter December 2023

The Real Estate Market for 2024 If you’re thinking about buying or selling a home in 2024, you may be wondering what’s to come in the real estate market ahead. After a few robust years, 2023 brought the housing market to more normal (pre-Covid) levels, which we expect to continue in 2024. Here are a few more of the trends that my team at Long & Foster Real Estate and I expect to occur next year. Home inventory will continue to be limited. Fewer homes are on the market today than were a few years ago and this trend is […]

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Item of Value Letter November 2023

Hi Everyone, Long & Foster’s Third Quarter 2023 Real Estate Market Update We’re more than three quarters into 2023, and a lot has happened in the real estate market. Interest rates have risen, shifting the market to a more normalized pace—reminiscent of the years pre-pandemic. Plus, we’re seeing the below trends, when comparing the third quarter of 2023 with the same period in 2022. Fewer homes were sold. The number of properties sold this year was down 18% compared to the same period last year. Homes were more expensive. While fewer homes sold, those that did sell had an average […]

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Item of Value Letter October 2023

Winter Home Maintenance Tips Dear Homeowner, Fall is officially here bringing its vibrant colors and crisp, cool air. While cozy sweaters and hot cocoa may be top of mind, it’s also the perfect time to shift your focus toward your home – and get it ready for the colder months ahead. Our team at Long & Foster has put together a few tips to keep you comfortable and protect your home from harsh winter weather. It’s a good idea to keep a record of your home maintenance routine to pass on to the new owner of your home when you […]

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Item of Value Letter September 2023

House Dreaming? Here are the Top Five Things Buyers are Looking For What are home buyers looking for now? During the pandemic, we saw the “flight from density” from city living to the suburbs and many people building pools in their backyards. While desired home features and amenities constantly evolve, Forbes Global Properties – of which Long & Foster is a member – conducted a survey to find out what buyers want and need in a post-pandemic world. Traditional must-have amenities, such as the latest smart home technology and spa-like bathrooms, still rank high, and here are the five top-ranked […]

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Item of Value Letter August 2023

Life Changes That Might Affect Your Insurance Coverage  Have you had any recent big changes in your life – like getting married, moving or having a baby? If so, you might want to review your insurance coverage and make sure you’re fully protected. If you have too little coverage, you could pay for it later. Conversely, too much and you’re spending more than necessary. If you answer “yes” to any of these questions, I can put you in touch with a Long & Foster Insurance agent, who’ll evaluate your current policies and find the best coverage for your needs. Have […]

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Item of Value Letter June 2023

What’s the Return on Your Home Improvement Dollars? Before selling your home, it’s hard to know what improvements to make now that will add value to it – without spending a fortune. To help, each year Remodeling magazine releases their Cost vs. Value Report, which estimates the average cost of a project and the percentage of the investment that will be recouped if the home is sold within a year. Based on the 2023 report, here are the top four home improvement projects with the highest return at resale. HVAC Conversion/Electrification: Converting from a fossil-fuel- burning furnace to an electric heat […]

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LPR Outreach Letter

Dear Community Leader: The purpose of this email is to make you aware of a free resource available to your members on how to take care of themselves and their aging parents when complex financial and elder care issues arise. Life Planning Resources is a professional organization comprised of a select group of community leaders in their field that volunteer their time to educate the public on the various issues associated with aging.  These professionals consists of individuals who specialize in estate planning, financial planning, long-term care planning, geriatric care management, medication management, move coordination, real estate, lending, and funeral […]

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Item of Value Letter May 2023

Hi Everyone, Even With Rates Rising, Here’s Why it’s a Good Time to Buy Versus Rent Choosing to become a homeowner is generally one of the biggest decisions of your life. It’s a financial and emotional decision that must be made based on your individual circumstances. If paying rent has you leaning toward the security of owning your home, here’s why now is a good time to buy. Financial Benefits of Owning a Home Hedge Against Inflation: Homeownership provides stability. With a fixed-rate mortgage, your monthly payment can be locked in, which is especially important in today’s inflationary environment. Pay Your […]

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