3 Tax Changes to Be Aware Of

There have been a lot of changes to the real estate market lately in terms of tax law. Here are a few things you should be aware of as a homeowner in the new year.

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Before I get started with explaining some of the recent tax code changes, I want to first say that I am not a CPA. What I say here might not be 100% accurate, so you should check with your CPA or tax professional before making any decisions. Without further ado, here are the three most important impacts that the tax reform bill is having on the real estate market:

1. Property tax write-off cap. You used to be able to write off all of your property taxes. However, the new tax laws cap this amount at $10,000. That’s a lot of money in a lot of states, but it doesn’t go quite as far in places like New York or San Francisco. Homes are priced well above the $1 million market in many cases, so most of those people are spending far more than $10,000 in property taxes.

You can only write off $10,000 of your property taxes with the new bill.

2. Mortgage debt. In the past, you were able to write off all of your mortgage interest. If you borrowed $1 million to buy a home the entire mortgage interest of that $1 million could be written off. That number is now capped at $750,000. This is another change that will impact our market a lot more than others because of the high prices.
3. Capital gains exemptions. Nothing has changed here. There were whispers of tighter requirements, but you still only have to have lived in your home for two of the last five years to claim your capital gains exemption. If you're single, you can write off $250,000 of the profits from a sale. If you’re married, that number jumps to $500,000.

That's all I have for you today. If you have any questions for me in the meantime, give me a call or send me an email. I look forward to hearing from you soon.

Please contact a CPA or tax professional for additional, verified information.

The Latest Trends in Our Real Estate Market

What’s changed in the San Francisco real estate market over the last three months? We’ll look at home prices and inventory today.

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What’s changed since our last market update?

First of all, let’s look at inventory. Inventory in the San Francisco area is pretty stable. There is not a whole lot of inventory, but we’re not exactly experiencing a shortage either.

Right now, we are in a flat market. In my opinion, that’s a good thing in the long run. When the market shoots up quickly, it will dive down just as fast, if not faster.

How fast are homes selling?

Right now, I have four listings. Two just went under contract, and one actually sold for more than asking price. The other sold for a little below asking price. Our market is in an interesting place because certain pockets are selling for over asking price while others are not.

Condition and location determine whether or not a home will sell over asking price.

One of those two listings had been completely remodeled, but the other was in a slightly better area. The one in the better area sold for over asking, while the remodel went for just below asking.

A couple of years ago, homes sold above asking price all the time. In our current market, the sales price really depends on where the property is and what kind of condition the home is in. Homebuyers today are looking for turnkey properties.

We also have a nice, two-bedroom condo in a great area that, as of this recording, is still available, so let me know if you would like to learn more about it.

Overall, prices are stable in our current market. Some homes are selling for more than the asking price but that really depends on location, location, location.

If you have any other questions about our current market, please don’t hesitate to reach out to me. I would be happy to help you!

What Will Happen in Our Market This Year?

What’s going to happen in the San Francisco market in 2017? Today I have a market forecast that will give you an idea of where we’re headed.

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A lot of people are curious what’s going to happen in the San Francisco market in 2017. Today, I wanted to give my market forecast for the upcoming year.

According to Realtor.com, interest rates are expected to rise. They won’t rise too much; the forecast is for rates to rise to about 4.5%. Many people were worried about rates after the election, but I think the Fed will keep things pretty stable.

Another thing many people are worried about is whether people will still buy and sell homes in our market. The short answer is yes. In fact, the average number of transactions is predicted to rise about 5.5%. Compared to last year, more people will actually be buying and selling. That indicates good overall health in our market.

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The health of our market should continue to improve in 2017.

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Lastly, what’s going on with prices? Will they go up along with volume and interest rates? According to Realtor.com, the average home value is expected to increase by 4%, which is good news as well.

Hopefully, this helps give you a better idea of what to expect from out market in 2017. If you have any questions I can help you with or you’re looking to buy or sell a home, shoot me a text or send me an email soon. I’d be happy to help.

What Do Current San Francisco Market Conditions Mean for You?

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Are we currently in a buyer's or seller's market? This is the question on everyone's mind, and today we'll answer it.


It’s a pretty balanced market right now, but in most areas sellers have a slight advantage. This time of year, inventory is typically quite low, so what we’re seeing now is pretty normal. You can expect to see more listings pop up in the early spring months.

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Our market is pretty balanced for now, but we’re unsure how much longer it will last.

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When inventory is low, home prices don’t fall. Right now, they are pretty stable in our area, which is good news for buyers. Also, interest rates are still quite low despite a slight hike in December. This is great for buyers looking to make their dollar go further!

Whether you’re buying or selling, there are a lot of great opportunities in our current market. Conditions aren’t always this steady, and we may see some changes for the worse if interest rates rise like they’re expected to. In short, now is a great time to make a move!

If you have any questions about our current market, or if you would like real estate assistance of any kind, please don’t hesitate to reach out to us. We would love to hear from you!