2019 Market Forecast
Last year’s dramatic shift in the market, from overwhelmingly favoring sellers to buyers now seemingly having the advantage, has led a lot of people to wonder what’s in store for 2019. While it seems to me many Realtors® are hesitant to express any of their own opinions, possibly for fear they might be incorrect or be held responsible for decisions people might make, I’m going to offer my thoughts with the confidence that all who read this understand it’s my view of the market. I don’t suggest or recommend anybody make important decisions based on this alone and always encourage consul...
There are 2 propositions on the November ballot related to real estate which I’d liketo draw your attention: Propositions 5 and 10. Proposition 5 deals with property tax transfer and Proposition 10 addresses rules that govern rent control ordinances. It is not my desire to campaign for or against either ballot item. Rather, my intent is to give you information that will help you choose the vote that is best for you.
Proposition 5: The Property Tax Transfer Initiative.
If passed, this will allow homeowners aged 55 years or older who move to another place in the state to transfer their current pro...
In recent months, I’ve commented on the local real estate market primarily from the standpoint of employment and its effect on demand and affordability. I’ve asserted that the recent run up in prices has been the result of....
It’s starting to look a lot like 2006. Low interest rates, high buyer demand, and rising home prices. On the surface it may appear that another “bubble” is forming. However, a closer look at some fundamentals tell a different story.
After much haggling and debate, the new tax laws are now final. Here are the final details to the areas that affect real estate decisions the most.
Mortgage Interest Deduction:
The limit on deductible mortgage debt has been reduced to $750k (from $1M) for loans taken after 12/14/2017. Loans of up to $1M before that date are not subject to the new limit. Interest is still deductible on second homes and subject to the $1M/$750k limits. (Note: The House-passed bill would have capped the mortgage interest limit at $500k and eliminated the deduction for second homes.)