Buy or Sell Homes in South East Valley of Arizona

Becoming a  real estate investor in the East Valley , or anywhere else, is a big step toward the financial future you desire and as such shouldn’t be taken lightly. Mixed with a traditional retirement plan, real estate offers returns and monthly income that you can access long before you’re eligible to dip into your 401k. Keep in mind it’s a lot more complicated than buying a house, renting it, and collecting income. It takes identifying a clear goal, having a plan for the properties, and a willingness to bend with change. What is a real estate investor? If you have the financial ability to buy a second home, fix it up, and rent it, you may be a real estate investor. Determining whether or not you can afford to become an investor happens when you work with a real estate professional like me, Elaine Beery of Beery Realty, and our team of trusted lenders, to understand if you’re able to qualify for a loan, the loan amount, and loan programs to fit your needs. If you’re a seaso...

After a slow start in 2019, home sales and their corollary “listings under contract” continue their rise into early April, now slightly exceeding the sales and listings under contract for this same period in 2018.  Most of the improvement in sales and buyer interest can be attributed to our continually falling interest rates. Interest rates have declined throughout 2019 since peaking in early November of last year at 4.94% (Freddie Mac).  As of April, rates are down almost a full point from that high, to 4.08% (Freddie Mac, April 4, 2019). The monthly median sales price for greater Phoenix is up 4.6% year over year to $266,000, so buyers and sellers should still expect a relatively competitive market.  However, since much of what is driving our current market can be attributed to falling interest rates, buyers and sellers would be wise to keep an eye on rate changes (and their drivers), as any significant change in rates and rate direction would likely directly and qui...

Your primary residence isn’t an investment, this has been said time and again (especially since the market crashed entirely), but that doesn’t mean that when you go to sell you have to take a loss. Far from it. In fact, as of the writing of this article,  you’ll likely qualify for a tax exclusion  (meaning you won’t pay taxes on this amount of profit from your home sale) of $250,000 if you file on your own or $500,000 if you and your spouse file your taxes together. But, if you sold and there was more than the applicable amount in gains, you’ll have to pay taxes only on the profit above the mark. When you have all your ducks in a row, it gets a lot easier to see what side of that line you stand on. Reducing Your Tax Burden is the Goal When your gain from your home sale exceeds your tax exclusion, there are two ways to help improve the situation with all those receipts you’ve been saving (you have been saving them, haven’t you?). First, you can deduct expenses related...