September has been a busy month in the Real Estate world. Here are a few of the things I have been working on:
I went to court with a divorce attorney to serve as an expert witness in a divorce trial. It was my job to speak to the price of the home one spouse was living in so that the attorneys could negotiate the fair price of housing for the other spouse.
I listed a home for rent in Newton and spoke to a handful of people who were interested in this home. One party was a Section 8 tenant, and I learned a lot about how the state’s program works. Unfortunately, the family decided not to rent the home so I couldn’t see that to fruition. If you own investment property, I hope you realize what a solid tenant a person or people who have a Section 8 voucher can be. It’s a sure bet you will get paid every month because the state is paying you, not someone whose life could be in chaos at any given time.
If you are anything like me, you may see a lot of videos appear on your phone that describe how the wealthy save a lot of money in taxes. I went down several rabbit holes in researching this and met with a local tax accountant who educated me (more than fb or TT videos). It’s obviously very personal for each situation, but if you own a business and are in a high tax bracket, please know that there are several cost-saving initiatives available to you to significantly reduce your tax burden. If you want more information, please reach out. Spoiler alert: Buy Real Estate!
I helped a client who relocated from the West Coast get settled into her East Coast Rental. After a long drive across country with her 3 dogs, she is finally here, and we can begin her home search soon.
I met with clients who have a tremendous opportunity to potentially expand their property from a single-family residence to a multi-family residence. This one is a little tricky, but we are working on it and will see if we can help them maximize their investment.
I also showed some investment properties to another client who wants to buy before the end of the year to obtain the tax benefits mentioned earlier.
September is a time of transition, and I certainly felt it this year. The market remains strong, the interest rates came down a ¼ point, there is more inventory available than there has been since the pandemic. The market seems to be shifting from a seller’s market to more of a balanced market. Rising home prices, mortgage costs, and the difficulty of buying in the Boston area are pushing more people to rent in the suburbs, but there is a lot of inventory in the rental market as well. The decline in foreign students and their families is surely one cause of this.
If you celebrate the Jewish New Year, Happy New Year, and may you have an easy fast on Thursday.
As always, if you have any questions about Real Estate in our local area, do not hesitate to reach out. I am a full-time working Professional Realtor with over 20 years of experience here to help you navigate any RE situation.
Ellen
On October 7, I will be supporting HESSCO Elder Services at their Age Well Conference. Click here to register and attend. It should be a great day! https://shorturl.at/EatET
