The Jersey Shore by Karl Hess: April 2017

Your Tax Return: Bring it Home to Ocean County

Your Tax Return: Bring it Home | MyKCM

 

This time of year, many people eagerly check their mailboxes looking for their tax return check from the IRS. But, what do most people plan to do with the money? GO Banking Rates recently surveyed Americans and asked the question - “What do you plan on doing with your tax refund?”

The results of the survey were interesting. Here is what they plan to do with their money:

  • 41% - Put it into savings
  • 38% - Pay off debt
  • 11% - Go on a vacation
  • 5% - Make a major purchase (car, home, etc.)
  • 5% - Splurge on a purchase

Search for Homes in Ocean County

Upon seeing the research, The National Association of Realtors (NAR) wondered if this could help with a constant challenge cited by many people who wish to purchase a home – saving for the down payment.

In a recent post in NAR’s Economists’ Outlook Blog, they explained: “With a sizable tax refund, the average American would have a decent down payment depending on which region or market you live in.”

They went on to add: “[A]pproximately 5 percent of all respondents indicated they would make a major purchase which does not seem like a lot. However, there is a bigger group 41 percent who see saving the tax return is best and that group could be potential homebuyers if they are not already.”

In other words, putting that money toward purchasing a home is a form of savings.

Here are homes in selected communities in Ocean County for $300,000 and less:

Bottom Line

When one considers that first-time home buyers in 2016 had an average down payment of 6%, a decent tax return could go a long way toward the necessary funds needed for a down payment on a house. Or perhaps, the down payment needed by a son or daughter to make their homeownership dream a reality. How are you going to spend your return? There are areas in Ocean County, particularly south of Bayville, where you can buy a home with ZERO money down!!

As always, thank you for your time and feel free to get in touch if you have any questions. Karl Hess, Keller Williams Shore Properties - #1 Real Estate Office in Ocean County

 

 609-553-7926

Find Your Dream Home on The Jersey Shore in Ocean County!

www.TheJerseyShoreHomeFinder.com

 

 Licensed in New Jersey.  Keller Williams Shore Properties 

1400 Hooper Ave. Toms River NJ 08753 Phone: 732-797-9001

 

 

 

Comment balloon 1 commentKarl Hess • April 29 2017 11:56PM
Your Tax Return: Bring it Home to Ocean County
share
This time of year, many people eagerly check their mailboxes looking for their tax return check from the IRS. But, what do most people plan to do with the money? GO Banking Rates recently surveyed Americans and asked the question - “What do you… more
3 Charts That Shout, ‘List Your Ocean County Home Today! ’
share
In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise. In Ocean County, the demand for homes is exceeding the supply. SUPPLY The National… more
Manahawkin Housing Trends April 2017
share
Manahawkin Real Estate Market Trends - April 2017 There is a shortage of moderately priced homes in Stafford Twp. Manahawkin real estate conditions are changing and your Market Insider provides valuable, up-to-date information about Manahawkin… more
4 Tips for Organizing Your Home Maintenance Routine
share
Staying on top of all the things you need to do to keep your home well maintained can seem like a challenge sometimes. But the good news is that it doesn't have to be a monumental chore. Here are four tips on how you can keep yourself on track… more
Is Your First Home Within Your Reach?
share
Information on First Time Home Buyers in Ocean County Search for Homes in Ocean County Some Highlights: ‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau. According to NAR’s latest Profile of Home Buyers & Sellers,… more
Millennials Flock to Low or Zero Down Payment Programs
share
A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January. The trend continued through all buyers with a mortgage, as 62% made a down… more
Barnegat Housing Market Trends, April 2017
share
Barnegat Real Estate Market Trends - April 2017 Barnegat real estate conditions are changing and your Barnegat Market Insider provides valuable, up-to-date information about Barnegat Housing Trends. View critical information about what is… more
LBI Named Top Family Beach Vacation
share
According to “Family Vacation Critic” Long Beach Island off the coast of Ocean County New Jersey, has been named one of the best family beach vacation destinations in the country. The island is home to about 20, 000 people on a year-round basis… more
15, 014 Homes Sold Yesterday… Did Yours?
share
15, 014 Homes Sold Yesterday… Did Yours? There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. But YOUR home hasn't sold. Why not? Was it marketed appropriately?… more