The Over-55 Home Sale Exemption allowed homeowners aged 55+ to exclude up to $125,000 of capital gains from selling their primary residence but ended in 1997. The Taxpayer Relief Act of 1997 replaced it with broader benefits, allowing all qualifying homeowners to exclude up to $250,000 ($500,000 for couples) of gains if they owned and lived in the home for at least two of the five years before sale.
New-home mortgage applications fell for a fifth straight month, reaching 2026's lowest level as buyers stayed sensitive to affordability and current mortgage costs.
Applications were ↓~6% yearly and ↓~6% MoM on an unadjusted basis, showing builder incentives still have not fully restored buyer momentum nationally.
Government-backed low-down-payment loans captured a slightly larger share, while avg. loan size slipped to ~$373K, underscoring ongoing payment sensitivity among buyers nationwide.
Builders kept using concessions: ~63% offered incentives, ~35% cut prices, and typical reductions were ~6%, yet applications still weakened as current rates constrained buyers.
An industry survey put single-family sales near 664K annualized, while unadjusted sales were 52K; those measures track demand differently and were not presented as contradictory.
Live in your primary residence for at least two of the last five years to exclude up to $250,000 ($500,000 for married couples) of capital gains from tax when selling. Keep records of capital improvements to increase your cost basis and reduce taxable gain. The exclusion applies only to primary residences, not second homes or rentals. Ownership and residency periods must total two years but need not overlap or be consecutive. Partial exclusions may apply for early sales.
Selling a home in Leesburg does not mean accepting unnecessary costs. Recent local data shows a median sale price of approximately $307,541 and a median 80 days on market, making smart pricing, strong preparation, and effective marketing essential. This guide highlights ways homeowners can reduce delays, avoid costly price adjustments, and compare selling options that may help them keep more of their proceeds. To learn how you could save thousands on your home sale, visit www.nuhome799.com for more information.
Selling or buying in Leesburg, Florida, calls for a strategy—not guesswork. Recent market data shows a median sale price of $307,541 and rising inventory, making accurate pricing, strong presentation, and thoughtful negotiation especially important. Homeowners looking to reduce commission costs should compare brokerage services and understand exactly what is included. Buyers seeking new construction can benefit from a broker who helps evaluate communities, builders, incentives, timelines, and contracts. Whether you are preparing to sell or searching for a newly built residence, expert guidance can help you protect your budget and move forward with confidence.
Pre-Construction. To be built. AVAILABLE NOW! Experience the captivating, completed Tupelo floor plan by Moxie Homes, where contemporary design meets effortless living. This single-story residence is now ready for you to move in, showcasing a brilliant blend of clean lines, light-filled spaces, and high-quality finishes. The home features three well-proportioned bedrooms and two beautifully appointed bathrooms. Step inside to an open-concept design where the kitchen, dining, and living areas flow together under vaulted ceilings, creating one expansive and inviting space perfect for daily life and entertaining. The gourmet kitchen boasts modern, light wood-toned cabinetry, a spacious island with seating for casual dining, stainless steel appliances, and a striking marble-style backsplash. The living room is bathed in natural light, featuring large windows and glass sliding doors that offer views and access to the private outdoor space. This airy atmosphere is enhanced by the light color palette and modern fixtures throughout. Tucked away for privacy, the primary bedroom is a true retreat with ample space, stylish bedside lighting, and direct access to a private outdoor patio through sliding glass doors. The bathrooms feature elegant fixtures in a warm bronze/gold tone, modern vanities with stone countertops, and beautiful tile work. The primary bathroom includes a spacious walk-in shower with a glass enclosure, while the second bathroom offers a tub/shower combo. Adding warmth and sophistication, the entry and hallways are elevated by built-in wood-toned console tables and designer mirrors. Throughout the home, find sleek tile flooring and contemporary lighting. The exterior presents a modern elevation with crisp, clean finishes, and includes a private, covered entry patio with modern slat-block wall detailing, and a private backyard with a paved patio area and lawn. As a resident of Boulevard Oaks, you gain access to a host of established community amenities, including The Oasis Clubhouse, a resort-style pool, expansive green space, pickleball courts, and scenic walking trails. This completed Tupelo home offers a superior living experience where every detail has been thoughtfully executed.Listing photos are of the models. Price listed is base price. Upgrades will be additional.
A lot of folks ask me if it’s worth waiting for homes to get more affordable. Here’s the real story: projections show mortgage rates holding steady around 7% in 2027, while home prices are expected to rise another 2.2%. That’s thanks to ongoing inflation and the high cost of building materials. Even if prices dip a bit in 2026, affordability could actually get tighter—not easier—for buyers down the road. After 30 years helping families in Leesburg find their footing in the market, I can tell you: timing matters, but so does having the right information. In this market, clear-eyed decisions beat wishful thinking every time.
