Friends, Family & Clients,
We haven't seen home prices rise at these unrealistic levels since back in 2004 - 2006 when home prices went up 22% 28% & 18%. Home prices in Valencia, Stevenson Ranch, Saugus and throughout the Santa Clarita Valley have risen between 20% to as much as 33% in just the past twelve months. Congress is attempting to approve a stimulus package as high as 3.5 Trillion Dollars. This is a two headed monster for homeowners and those hoping to buy a home in the future. This influx of cash to the economy could lead to inflation levels not seen since when Jimmy Carter was President.
This is a great time for homeowners to speak with their CPA or Tax Consultant to see if they qualify for the $250,000 for a individual person or $500,000 for a couple for the capital gains exemption of their taxes for the sale of their home. Qualified homeowners could put money in the bank and utilize these funds to secure their future. They could also purchase another home and if tax laws remain the same, start the process over again and take advantage of these saving in two years or more.
These are scary times for first time home buyers with home prices being at all time highs. Keep in mind that when you purchase a home your investment is only the down payment. With a purchase of 3.5% 5% 10% or 20% down you are able to take any future gain on 100% of the purchase price. Also consider that the money paid for the monthly payment is in lieu of the rent you would be paying anyway. The difference is you gain the advantage of tax benefits that come with homeownership and the possibility of gaining equity over time.
Dani & I are thankful for seeing the light at the end of this Pandemic Tunnel. We appreciate all of the sacrifices our fellow citizens have made in order to keep us all as safe and healthy as possible through this eighteen month ordeal. We pray for those that have been lost and the family and friends that have endured the pain.
Happy Thanksgiving to you and your family
Check out all of the Thanksgiving Events and Things to do in 2021
Are you looking for an advisor or a Realtor to assist with the sale or purchase of your house? Dani & I are committed to your success and are here for any and all of your real estate needs. Please give us a call. We enjoy helping people.
Respectfully, your Friends & Realtor,
Tony & Dani Lewis Summit Real Estate Group
Offices in Valencia & Aliso Viejo California
www.TonyLewis.com SCVTony@gmail.com
Call or Text us at 661-510-7975
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