With the Christmas season upon us, we want to wish you all a safe and joyous holiday!
MARKET AND RATE OUTLOOK
While this year has been stressful in many ways, interest
rates have improved over the past two months and home prices have continued to
drop. These combine to make it much more
attractive for homebuyers to move forward!
Although we still have a shortage of inventory, we are definitely seeing
sellers who are willing to work with buyers on credits to closing costs and
rate buydowns.
Most economists see us entering recession sometime next
year. There is no agreement on the
timing of recession, however. Whether
sooner or later in the year and short or lasting for a longer time period, it
will bring interest rates down.
2022 INCOME TAXES
We always urge clients to allow us to review draft taxes
PRIOR to filing. This is particularly
poignant for self-employed individuals or those who own rental properties.
If you are planning a refinance or a home purchase in the
next year or two, it is essential to strategize with your tax and finance professionals
to ensure a successful transaction. Oftentimes
we work with clients for over a year to be well-positioned for a new mortgage
transaction.
1031 EXCHANGE
We have handled these in the past and are currently working
with three 1031 exchange situations. If
you have a rental property to sell, we can assist with financing the purchase.
ADVENTURES
Steve and I recently completed two legs of an epic sailing journey with friends. Our friends are relocating their sailboat from Dana Point to Ft. Lauderdale. This involves quite a long trip through the Panama Canal. The first leg we sailed was down the coast to Cabo San Lucas. This leg took ten days with stops in three bays. The second leg was from Loreto across the Sea of Cortez to Mazatlán and was fairly quick. We will be joining the boat again next April for the trip through the Canal and onto the Cayman Islands. Some scuba diving may be involved!
