Dear Friends, Family & Present and Past Clients,
It has been quite a while since our last Newsletter due to the uncertainty we have been facing due to rising prices and Covid-19 concerns. A bubble can burst instantaneously once prices surpass value. This is evident in the stock market with what happened last week with Gamestop. However when it comes to home values the value is based upon the prices that a willing seller and able buyer agree upon. The value has nothing to do with real value, just perceived value. There are too few homes for sale for the amount of qualified, motivated buyers. Winter most often is the time in which home prices and demand are at the lowest for the entire year. 2020 and the start of 2021 have been completely contrary to this expectation. Multiple offers has occurred on most homes and sales prices have been at or above list price in many cases. Successful buyers have been quite creative by offering above list price, removing appraisal contingency and also shortening contingency time periods. We have been successful in this type of market over our 24 year career.
Selling your home or investment property should be a consideration for many homeowners. The benefits to selling with home rising prices and low homes for sale are immense. A homeowner can take advantage of the Capital Gains Taxes of $250,000 for individual or $500,000 for a couple if owning the home for 2 of the past 5 years. Contact your CPA for the details.
Owners of an Investment Property is eligible for a Tax Deferred 1031 Exchange. One home can be exchanged into another home or even two homes. They can also be exchanged for a lesser priced home and pay taxes only on the gain. We work with exchange accommodators that can assist you with the details. We have experience have done this for ourselves and represented other many times over the years.
Put your trust in us for all of your real estate needs. Our only goal is to be serving your best interest at all time and in all ways. Fill out this for for a "Free Market Evaluation"
Find your "Brand New Home With Us in California" and if we get paid, you get paid. "Check out our New Homes Rebate Program for anywhere in California"
Be the First to learn about New Listings as the Reach the Market. "Call or Text us to sign up for New Listings As the Reach the Market"
Please stay safe as we are just about to turn the corner towards a return to normalcy. We look forward to a time when we can all be together without fear.
Happy Valentine's Day
Presented by your Friends & Realtor,
Tony & Dani Lewis Summit Real Estate Group
Call or Text us at 661-510-7975