GIFT TAX RULES; HOW TO SPLIT UP THE WILLED FAMILY HOME; and AVOIDING ESTATE FIGHTS IF A PARENT REMARRIES
After reading the headline "Scottsdale home sales skid 30%" in the newspaper today, I was surprised to find some good news included in the article. Although sales of existing homes in Scottsdale fell 30% in February from 2007 and prices declined 14 percent, the good (make that GREAT) news is that condominium and townhouse prices were UP 5.5% according to a report from the Realty Studies Department at ASU. Folks may be under the impression that nothing is selling, but 150 condo and townhouse sales closed in Scottsdale last month! Additionally, median prices in Paradise Valley jumped 30% from last February. Of course, this positive news in these particular areas doesn't mean that the general trend of declining sales and prices is over, but it does provide some encouragement.
So, why are condo sales up? Perhaps it's because condos are appealing to winter visitors looking to enjoy the Arizona lifestyle and to young folks buying into the housing market for the first time. Or, maybe it's because condos appeal to older folks who are looking for an easier lifestyle after years of dealing with the responsibilities of owning a larger home. Or maybe the high cost of gasoline is what's making people realize that a well-located condo can cut down on the cost of driving to stores, restaurants, and entertainment. Whatever the reasons are, it's encouraging to see that condos are selling. There are lots of great condos available in every price range and I'd love to help you or someone you know find just the right one.
Pook
After reading the headline "Scottsdale home sales skid 30%" in the newspaper today, I was surprised to find some good news included in the article. Although sales of existing homes in Scottsdale fell 30% in February from 2007 and prices declined 14 percent, the good (make that GREAT) news is that condominium and townhouse prices were UP 5.5% according to a report from the Realty Studies Department at ASU. Folks may be under the impression that nothing is selling, but 150 condo and townhouse sales closed in Scottsdale last month! Additionally, median prices in Paradise Valley jumped 30% from last February. Of course, this positive news in these particular areas doesn't mean that the general trend of declining sales and prices is over, but it does provide some encouragement.
So, why are condo sales up? Perhaps it's because condos are appealing to winter visitors looking to enjoy the Arizona lifestyle and to young folks buying into the housing market for the first time. Or, maybe it's because condos appeal to older folks who are looking for an easier lifestyle after years of dealing with the responsibilities of owning a larger home. Or maybe the high cost of gasoline is what's making people realize that a well-located condo can cut down on the cost of driving to stores, restaurants, and entertainment. Whatever the reasons are, it's encouraging to see that condos are selling. There are lots of great condos available in every price range and I'd love to help you or someone you know find just the right one.
Gift Tax Rules
Know the Gift Tax Rules - You can give away a lot under the IRS radar screen, but when you exceed certain limits, you must follow certain procedures. Expert Constance Fontaine explains it all in easy-to-understand terms.
How to Split Up the Willed Family Home
How to Split Up the Willed Family Home - Estate issues get complicated, emotionally and financially, when siblings must finally decide what to do with mom and dad's house.
Avoiding Estate Fights if a Parent Remarries
Avoiding Estate Fights if Parent Remarries - Poor planning can set up ugly conflicts and court battles between children and their stepparents.
How to Split Up the Willed Family Home
How to Split Up the Willed Family Home - Estate issues get complicated, emotionally and financially, when siblings must finally decide what to do with mom and dad's house.
Avoiding Estate Fights if a Parent Remarries
Avoiding Estate Fights if Parent Remarries - Poor planning can set up ugly conflicts and court battles between children and their stepparents.
Warmest Regards,
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