THE SECOND STORY | February 25th, 2021

Properties are flying off the shelf….

…like toilet paper in Trader Joe’s (nearly a year ago) and interest rates have dropped a lot.

This pumpkin was on my front porch for Halloween. I moved it to my back porch and and it sat there for months. Then this morning some type of animal left some scraps behind. Now it’s in the green bin!

I’ve had some conversations with some folks over the last 2 months. Sometimes they’re local, and they own property out of town and/or they’re thinking of buying further north, or selling/buying land out-of state. Another friend is no longer ‘local’ but she’ has raw land in AZ. She now lives in a different state. She called me about her situation.

IF you are thinking about making a real estate decision (buy, sell, rent, lease), etc. please be sure you don’t sign anything that may commit you to something you may not understand.

I took 5 commercial classes (decades ago) over the course of 2 years, all out of the area and some were out of state. Because I didn’t have the body of commercial sales/work in my portfolio, I wasn’t able to get the designation….CCIM (Certifed Commercial Investment Member).  Another agent and I wanted to have the same knowledge that these folks (mostly men) had.

One of best things l learned in those classes was about IRC 1031 Exchanges (and 1031 Reverse Exchanges).

https://www.investopedia.com/financial-edge/0110/10-things-to-know-about-1031-exchanges.aspx

I do not give legal/tax advice…and encourage folks to find an advisor that knows about exchanges and reverse exchanges. I

f this description fits you or a friend, I may be able to refer you to one or more of the agents that have this designation. But when in doubt…go to your account/tax advisor and ask the simple question – ‘What is a 1031 Tax Deferred Exchange?” If you don’t get a logical answer, spoken in plain English, you may want to keep looking for better advice.

ALAMEDA REAL ESTATE THIS WEEK!

DEFINITIONS:

AC (active contingent on selling another property)

PCH (price change)

PSB (pending sale, want backups)

DOM (days on market)

Active listings this week 16 

DOM  1390 high  6 low  168 avg  med 42

Pending listings this week 16 (including 1 PSB)

DOM  124 high   0 low   28 avg   med 12

Sold listings this week  16

DOM  83 high  0 low   26 avg   10 med

Have a fun weekend – my phone says it will be sunny!

Have questions? Let me know or maybe you have the answers to my questions!

Best, marilyn

 

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Marilyn

I arrived in Alameda in 1973, as a new bride...with husband Carl Schumacher, both of us from Newport Beach. He was embarking on his career as a Naval Architect (i.e. yacht designer) under Gary Mull. Please see the 'ABOUT ME' page in this website! www.MarilynSchumacher.com to see how it has all turned out! I'm so blessed!