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| News from Mike Kessler | |
| A Newsletter about Real Estate |
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| Volume 10 Number Ten | Oct, 2010 |
| Market Watch Investment Property Buyer's Market | |
 This Newsletter is designed to keep you informed about Real Estate. |
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California Housing Market Stabilizing |
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1) Market Watch Many homes that have been priced well have been selling due to the lower interest rates and availability of funds. As the onset of autumn and the holidays set in the housing market traditionally slows down. This year will be somewhat different do to the upcomming elections. We are experiencing better than usual conditions due to economic and political fallout. After November the interest rates and taxes are expected to rise. If your thinking about selling, don't wait to sell for less and pay uncle Sam more of your equity. As of 2012 and 2013 the Federal real estate tax as stated in the health care bill will be 3.5% of the sale of your home. That's $3,500 for every $100,000 you sell your home for. Which is more than you would usually pay for your realtor. Buy now and Sell now and SAVE NOW. 2) Investment Property With 25% down you could begin renting your first investment property with positive cash a flow. As buying a home becomes harder, more and more people are opting to rent which has pushed the rents up in the Santa Clarita Valley. 3) Buyer's Market Buyers market????? Not any more. With the banks holding on to the majority of their inventory and the slow introduction of new listings, the sellers have regained controll of the market. The price point in Santa Clarita is $417,000 which is due to the limits set forth by Fanny and Freddy Mac. Homes priced below this amount will find it hard to attain homes without multiple offers being entertained. Above this price point and buyers will have more of an opportunity to get their pice with less opposition. Due to the economic situation this may be the best time to make the move for quite some time. |
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