Over the past few weeks, many have been asking how the stock market and COVID 19 has been impacting our local real estate market, both in terms of property value and the marketing process. This topic is definitely a moving target and prior to the 3.17.20 shelter in place order, the general consensus was that appropriately priced mainstream properties appeared to be selling in a relatively timely and orderly manner.
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As part of our ongoing public interest interview series, we recently sat down with Marc Leardini of the Mountain View based CPA firm Young, Craig & Co. LLP. Our discussion centered on some of the key Tax Law Changes of 2017, including provisions surrounding SALT, which bear particular relevance to those in California.
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Rick interviews Dennis Young (CPA) of Young, Craig & Co., LLP regarding the guidelines and process under which one may be able transfer the property tax basis from their personal residence to a new residence following the sale of their home. As an alternative, Dennis explains a strategy for utilizing the proceeds of the sale of a personal residence in purchasing an investment property and the tax implications.
Rick Bell is a real estate agent with Alain Pinel Realtors in Los Altos and interviews real estate attorney, Harry Price, regarding real estate issues that commonly find their way to Harry’s desk. When the real estate sign goes up, neighbors may come out of the woodwork to address lingering issues between the parties, which can frustrate a sale. Rick and Harry discuss aspects of this issue when marketing a home for sale.