Good morning, good morning and happy last day of February & happy March!
February was an intense month. Not only was it short and full of holidays, but also, the real estate market continued its strong ride, and even seemed to gain strength toward the end of the month.
Undeterred by rising interest rates, or even driven by the expectation of rates going higher, or driven by inflation, or plain -old driven by the need and desire to own a home, buyers were out in full force in our area of Southern California. I worked a bunch of open houses and observed that most buyers were either first time home buyers or buyers looking for their second home, having outgrown their first, smaller house or condo.
Increasingly, I’m also seeing family driven purchases….. and what I mean by that, are parents shopping with their grown children and purchasing a property together. As prices rise in Southern California and almost all areas of North America, and as it becomes harder for single individuals to buy with just one income, it does appear that help from family is becoming more and more of the norm.
There are also many sellers in the market, those who are selling homes that no longer work for them anymore in terms of the location (jobs have changed locations), or those selling homes of loved ones who have passed, and some Californians are still moving out of state.
As we head into March, we expect that activity will continue to rise. If you are looking to take advantage of the very robust and active spring market, please don’t hesitate to give me or my office a call today!
Also, please be reminded I’m holding a very important seminar this Saturday March 5 at 10 am on Capital Gains Tax Basics and Options – Considerations to have as any property owner. If you are thinking about selling your real estate, whether your personal home or investment property, you need to attend this seminar! It will be featuring guest speaker, Tax Attorney Johan Deprez, who will speak on a variety of selling situations including selling your family member’s properties or selling your own property that may be partially owner occupied and partially rented out. Learn all about stepped up basis and other concepts related to capital gain tax and how it is calculated!
Don’t miss this! RSVP today.
Email me back here if you want to receive the Zoom Link which will come this Thursday or Friday for Saturday’s Event.
When: Saturday March 5 @ 10 am
Where: On Zoom
What: Capital Gains Tax Basics
Who: Johan Deprez, Tax Attorney of Deprez Tax Law will be the guest speaker
Why: The more you learn, the more you earn, or potentially keep
Nancy Deprez
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