Email ElizabethWaking Up to a Tree in The Bedroom
Waking up to a tree in the bedroom is a timely blog for Sacramento real estate, given our power outages in the last 24 hours. Very well written by our very own, Josh Amolsch. Enjoy. — JaCi Wallace.
Well, what do you blog about the morning after an above-average storm that caused power to go out multiple times and downed trees all over the city? That’s right, disclosure and inspection advice. There is little worse than waking up to a tree in the bedroom; though the pessimist could rattle off a list of daily occurrences that would meet or exceed that traumatic experience. I didn’t have a tree fall on my house, but I know a few people that had trees fall on their property. I guess if you have a big enough property or a small enough tree, it wouldn’t be such a big deal. Just cut it up when you have time, stack it and use it for firewood next winter. Just make sure you check if you can burn that day. (http://www.airquality.
December 2020 Sacramento Housing Market Update
December 2020 Sacramento Housing Market Update is another amazing blog by our own Josh Amolsch. This is probably the most interesting blog we have posted in the last year. Enjoy, — JaCi.
You should have heard my jaw hit the floor when I first saw the latest numbers from the December 2020 Sacramento housing market update. Maybe I should grow a beard to pad the jaw a little or start wearing a football helmet with a buckled-in chin strap because I sense that the fireworks will continue for the foreseeable future in the Sacramento-Roseville-Elk Grove area. Let’s be real; everyone sees that for the foreseeable future. Please pick up a magazine or click on Google and check it out.
We set another record in December for the Median home price at $443,000. This was, no doubt, the strongest December in recent memory. Think it will stop? I know a lot of people are hoping. Better get in while you can. Sellers are going to make a lot of money this year. Especially those folks who bought in 2011-2012 when rates and prices were at all-time lows. Don’t you wish you could hop in the DeLorean and head back to when the Myans promised the world was going to end? Maybe they meant 2020 or even 2021. That’s a fair mistake, 2012 instead of 2021. It makes you think, eh?
What You Should Know About Down Payment Gifts
What you should know about down payment gifts with a mortgage is a fabulous blog written by our preferred lender, Dan Tharp. Enjoy — JaCi Wallace. With an extreme lack of inventory facing so many of my buyers right now, they need all the help they can get. The biggest obstacle for many is the lack of money for a down payment. Thankfully, one solution is to get some help in the form of a gift from a family member, close friend, or a charitable organization.
As a mortgage professional, I have become very familiar with the IRS code on this topic. There is so much confusion regarding the tax implications of giving a cash gift to help a loved one buy a home. Before I delve deeper into this, a disclosure: I am not a licensed tax preparer and don’t ever want to be one – I have mad respect for tax professionals. This article is not to advise specific tax guidelines but instead give some useful, general information to help lead you in the right direction. Please seek a tax professional for more detail.
The 2021 annual gift exclusion will not change from its current $15,000 that you can give to as many individuals – your kids, grandkids, their spouses – as you’d like, without gift tax consequences. The person receiving the money does not have to report it to the IRS or pay gift or income tax on its value. However, if you give a gift of more than $15,000 per individual, you will want to pay close attention to the following paragraph.
Here is the good news for most of us. Unless you are gifting more than $11.7 million, you will pay no taxes on that gift. Yes, you heard me right. I am talking millions here – Thanks to the lifetime gift tax exemption, you can give away $11.7 million tax-free throughout your entire life and not pay one penny on gift taxes. Of course, this could change as new tax policies get enacted, so be sure to always check with Uncle Sam or your tax professional before writing that check.
When my clients learn about this little nugget, they realize worrying about gifting more than the yearly allotment of $15,000 is a moot point. Most will not pay any taxes on the gift. Most of us cannot fathom having $11.7 million to give our loved ones when we pass. According to the Joint Committee on Taxation (2015), only 2 out of 1000 people who die – owe any estate tax. So gift away, my friends! Show your loved ones how much you care now that you have this critical information in your pocket!
If you are thinking of buying or selling a home, please contact Weintraub & Wallace Realtors with RE/MAX Gold. We can be reached at 916-233-6759.
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Dan Tharp – Branch Manager
916-257-1470 Sacramento, CA
NMLS# 280913 | Company NMLS # 3274
Equal Housing Lender, Guild Mortgage
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Twas The Week Before Something
Twas the week before something is a fresh blog post written by our very own
exclusive buyer’s agent, Josh Amolsch.
Enjoy. — JaCi Wallace
Something is Stirring.
‘Twas the week before something, and all through the land
Shoppers were shopping, with mice in their hand
But registers clanged for those who were about
Yet wrinkly eyes were all they could tout
For under the garment that covered their tongue
Were smiles of hope, from both old and young
From lighted-belled entryways and isles that sing
Was glistening support of our dear neighboring
And all the patter of footsteps that once was too much
Was welcomed at last as they reach out to touch
Then out from behind came a voice like a Boeing
“This is the way! If you will only keep going!”
With cheers all-around came a sudden balloon
Of the feeling that something was coming real soon
Then light bulbs were flickering above all their heads
As if to prepare for the celebration ahead
For the town was aroused with the beat of the drum
That for whoever was giving would also receive some
To the corners where all could speak of a sequel
All together they sang “We too are essential!”
Then laughter prevailed with a feeling of swoon
That the people had escaped such a bitter typhoon
With scarf-wrapped children all bundled in fleece
They looked to their Mommy’s and Daddy’s for peace
And upon the way home from the community affair
Danced memories of friendships and courage repair
“For the spirit of giving and helping comes first”
The Missus declared as she searched through her purse
And as the family’s attention was pulled in focus
The woman they love pulled up with a slowness
A gift from a shopkeeper who will sleep easy tonight
That something we all need is alive and insight.
For a list of local businesses to support, go to placerfreedom.com.
Thanks, Destiny.
Merry Christmas and happy holidays.
— Josh Amolsch.
If you are thinking about buying or selling a property,
call Weintraub & Wallace Realtors, with RE/MAX Gold.
We can be reached at 916-233-6759.
November 2020 Sacramento Area Housing Market Update
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