real estate: March 2008 Market Update
- 04/02/08 09:53 AM
The Market Monitor April 3, 2008 Re: Truckee Area Real Estate Market Dear Client; Market Overview The market continues to drift lower as measured by sales volume. There were a total of 60 residential properties go under contract in March. This equates to a 20 month supply of residential properties. While this is a dangerous number to use for our marketplace, as there are extreme seasonal changes in the market, it does give a picture of what is going on. This is a low number for this period especially since March included Easter this year and ski conditions and travel weather were … (0 comments)
The year 2007 will be well remembered as a major shift in the national real estate market. While the market actually peaked in 2005 in takes many years for the market to settle out and see just where it is at. The one thing our market has not experienced relative to other areas in the country is a significant increase in inventory.
Nationally, inventory levels are at all time highs. This creates a big drag on the market. … (1 comments)
real estate: How To Handle Low Ball Offers
- 11/02/07 08:13 AM
How to Handle Low Ball Offers If your house has been on the market for quite a while (3 to 6 months), you may have already dropped your price and now you're waiting for the buyers to rush in and make wonderful offers on this now-priced right property. And then it happens. The lone buyer does appear, like a bandit in the night and offers you even less than what you just agreed to. Quite a bit less -- about 10 percent less. So on your $350,000 house, that you just dropped to $324,000, you now have an offer for $299,000. With … (1 comments)
The market numbers are very much in line with November of 2006. It seems pretty evident the number of sales for the year will end up about the same as 2006.
The median price will go down as there have been proportionally many more sales in the lower ranges of the market.
The big news is that there were a larger percentage of higher end homes going into contract in October than in previous months. This is being … (0 comments)
real estate: Information on tax deferred exchanges
- 11/02/07 08:03 AM
Here is some information on tax deferred exchanges. If you require more please contact us or our preferred provider Asset Preservation at www.apiexchange.com IRS Scrutiny into 1031 Exchanges... If you are considering conducting a 1031 Exchange, make sure you work with Asset Exchange Company to ensure it is done right. The IRS is planning on increasing audits and enforcement of 1031 Exchanges by summer of 2008. In a report issued last month, the Treasure inspector general for tax administration wrote: "There appears to be little IRS oversight of the capital gains (or losses) deferred through like-kind exchanges." The … (1 comments)
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