As the health crisis started making its way throughout our country earlier this spring, sellers have been cautious about putting their homes on the market. This hesitation stemmed primarily from fear of the spread of the coronavirus, and understandably so.

Traditional Home in Chapman Woods

Light-filled California Traditional with European touches throughout. Thoroughly renovated in 2015 by Studio Quartet, this home features custom carpentry, built-ins, recessed/designer sourced lighting throughout, and elegant finishes like Italian Carrara marble.

You are ready to buy your Pasadena home and you sit down to write a purchase offer with your agent. Prior to coming to the office, your Pasadena Real Estate Agent will ask you to bring your check book. Ok… in today’s day and age… no check book is necessary since the contracts now allow us to negotiate offers prior to deposit being delivered and deposited into escrow.  However the question still remains… 

Why? The offer has not even been accepted yet, so what is up with all this talk about deposits?

A housing market update from Keeping Current Matters, explains the effect of the 2018 tax reform.

"Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream. 

Some new housing tax codes are in place and this post from Keeping Current Matters explains the impact it will have on the real estate market.

Disclaimer: This guide is not meant to be a resource for tax advice but instead a resource for basic information concerning only certain aspects of the new tax code and how they may impact the real estate market. You should get tax advice from your accountant or tax preparer who will explain how the entire tax code will affect your personal return.