Hope Leitner, Realtor®, CRS

Summer is coming to a close, but the fun hasn't stopped yet and the heat means many of us are looking for shade or air-conditioning in our activities. Find something new to do with this month's calendar of events.  If you know anyone who might be interested in receiving this event calendar every month, please have them sign up at this link.   PONDER THIS - “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” - Maya Angelou - Students are returning to school this year. As we gather to learn, it’s always nice to remember that friendships and memories of people, not so much academics, are what stays with us as the years pass. If it’s been a while, make time to share a hug with an old friend.    Remember, I am always here for my clients and their friends and family.   Hope Opens Doors,   Hope Leitner, C.R.S.

August brings us to the end of summer. The real estate market has held steady this summer. Not much of a decline - no crazy price increases.  It seems we have a stable market.  Interest rates have gone down a bit in an effort to curb extreme drops in the economy. The efforts to control inflation seem to be having an effect on the real estate market, at least for now.   Remember, we are still in one of the best real estate markets of our lifetime - especially, if you're a seller. This is still a competitive market, but if you're looking to buy you can expect to breathe enough to know that prices aren't spiraling too high right now.  If you know anyone who might be interested in receiving this market update every month, please have them sign up at this link. PONDER THIS - " Live in the sunshine, swim in the sea, drink in the wild air.” ~ Ralph Waldo Emerson If you haven’t done any of these things yet this summer, do them now! Also, be grateful that here in S...

Married couples who own a home as joint tenants with rights of survivorship, the surviving spouse inherits the home, along with their basis, and it does not trigger a taxable event.  Unfortunately, the capital gain exclusion is reduced to a single person's share unless the survivor disposes of the property in the granted time. Married couples, filing jointly, have up to $500,000 of capital gain exclusion on qualifying sales.  As a single taxpayer, the survivor is only entitled up to $250,000 exclusion of capital gain.  For instance, if the home at the time of death is worth $900,000 with a basis of $400,000, the gain is $500,000.  If the surviving spouse sells the home, their exclusion is only a maximum of $250,000 which would make the other $250,000 subject to long-term capital gains tax. However, there is an exception to the rule that if a sale occurs within two years of the death of their spouse, the survivor is entitled to the $500,0000 exclusion if t...

One of the most talked about questions in the real estate market has to do with "Will prices continue to rise now that interest rates have increased dramatically this year?" It is understandable to think that if the Federal Reserve is using interest rate increases to slow consumer demand, that it would also slow homebuyer demand to moderate prices.   Unfortunately for would-be homebuyers, it isn't the case.   High inflation, strong economic growth, low unemployment, and increased wage growth have been associated with high home price appreciation. In a recent newsletter from First American, Chief Economist, Mark Fleming stated that historically, 90% of total inventory is from existing homes and homeowners are not moving as often as in the past.   Prior to 2007, the average tenure was five years.   After the housing crisis, between 2008 and 2016, the length of time spent in a home went to eight years. Lawrence Yun, Chief Economist with the Nati...

Whether you own a home or looking to buy or sell one, here are the latest Good to Know articles for when you’re ready to take the next step in finding your Forever Home. This edition of the eNewsletter also contains some helpful advice for our new residents in San Diego - The mosquitos. Mosquito populations in San Diego have been on the rise due to increased temperatures and humidity these past few years.  The Real Estate Market is changing quite a lot this summer. You might have questions  regarding the effects of our current economics, even if you're just curious, give me call. I love hearing from everyone on this email list. I am here to support you whatever your real estate needs might be.   PONDER THIS - “Live in the sunshine, swim in the sea, drink in the wild air.” ~ Ralph  Waldo Emerson.  If you haven’t done any of these things yet this summer, do them now! Also, be grateful that here in San Diego summer will really last until about Thanksgiving....

With all that is going on in the world, a global pandemic, supply chain issues, highest inflation in 40 years, the economic effects of a war in Ukraine, it can be overwhelming to think about when the right time is to buy a home. On a local level, there is a pent-up demand for homes that have been building for years.   Builders haven't kept up with demand for new housing for almost 15 years.   Low inventory, especially in the past three years, have driven up prices nationally in 2021 by 20% and even though, the rapid appreciation seems to be moderating, in June, NAR reported that the median price home was up 13.4% from one year ago. Then, of course, there are mortgage rates that have gone up by 2% since the beginning of 2022.   Appreciation and rising interest rates are a double whammy for people looking for their first home or to move up. It is completely understandable that many people are faced with so much that they are sitting on the sidelines waiting to s...

  Information is brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties Dress Up Your Home's Decor With a Gallery Wall Are your closets overflowing with pictures and other framed goods that would undoubtedly look much better hung in a prominent location than hardly ever seeing the light of day? Hanging pictures is a great way to tie a room together and add some character and personality to your space. Instead of simply hanging one picture here and another one there, you can work through your collection a whole lot quicker if you think outside the box and cluster pictures, creating a gallery wall. But before you go grabbing for a hammer, nails and maybe even a level, assess the space and items you have lying around and come up with a plan. While you may not stick to it 100 percent once you get started–and that’s okay–having even a rough idea of how you envision the space when it’s complete will save you a lot of trouble. Stick to Your Style.  While...

Regardless of whether you're entitled to $250,000 or $500,000 of exclusion when you sell your home, prices have gone up so much in the past two years, you may be approaching the limit where you might have to pay tax on the excess when you sell. Any improvements you have made to the home during your ownership can be used to raise your basis in the home which will reduce your gain.   It is worth the effort to start reconstructing the list, both big ticket items and lower priced items that qualify. While repairs to your home do not count as improvements, other money which either materially adds value, appreciably prolongs the useful life of the property, or adapts a portion of the property to a new use will qualify.   Hopefully, you have contracts and agreements on the major items and receipts on things over $75. If you have photographs before and after the improvements were made, it can help serve as evidence that they were in fact made.   The best proof is t...

July is the high season in Real Estate. The same holds true this year.  The more interest rates rise the less bang you'll have for your buck. We are seeing this with very slight declines in average cost of a home.  However,  we are STILL in one of the best real estate markets of our lifetime - especially, if you're a seller. This is a competitive market. The only thing we know for certain is that everything will change, so if you've been hesitating, give me a call, I'm happy to help you by providing a real market valuation for your home.  If you know anyone who might be interested in receiving this market update  every month, please have them sign up at this link.  PONDER THIS -  “Live in the sunshine, swim in the sea, drink in the wild air.” ~ Ralph Waldo Emerson If you haven’t done any of these things yet this summer, do them now! Also, be grateful that here in San Diego summer will really last until about Thanksgiving.  Your trusted real estat...