Spring at last !

but it's still tax time ...enjoy the blooms, suffer the taxes

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SANTA CLARA COUNTY >>>

SAN MATEO COUNTY >>>

ANOTHER real estate boom - how long will this one last ?

Read this article about the 10 most expensive sales in San Jose the week of March 11.

Interest rates have not changed that much since they rose last year but the stock market is giving people extra cash to purchase and continuing low investory and high demand drives the market.

The median price of a single family residence in Santa Clara county has reached $1,921,000 or approximately a whopping $11,983 per month with taxes and insurance. The average price of a home in the county is $1,635,000 and those homes are on the market 17 days max. Condos and townhomes are a more complicated story.

Many buyers however are waiting until the rates drop presumably before the presidential election. I suspect sales will slow after April and rebound around August. Based on the market slump at the end of 2023 my advice to sellers is ride the wave and try to sell before June of this year. Call me to find out whether your property is best to sell now or wait.

And from Me on Taxes

A common thing I hear from potential sellers thinking about selling is "what about capital gains?" It may surprise readers that a 1031 exchange is possible on a primary residence. This article from Paul Getty describes how it can be done. It takes some time and forethought but the result can mean hundreds of thousands of savings and / or a new home plus a future rental with income from the second residence. Areas like San Diego, Phoenix, Seattle are booming and prices are low compared to Silicon Valley, whereas rent may be quite high. Since your children can no longer inherit the tax base of your primary residence when you pass, that is another incentive for improving your own living situation now.