Thursday, July 8, 2021 / by Ryan Nager
What you need to know about the primary residence principal exemption.
You can potentially make up to $500,000 and not have to pay a single tax on it. This is called a primary residence principal exemption, and it states that if you decide to sell your home and you’ve lived in it for two out of the last five years, the money you make from that sale would not be taxed. A married couple wouldn’t have to pay any taxes on the gain from up to a $500,000 taxable event, and it’s $250,000 if you’re filing as a single person. This is a unique exemption that I’ve used myself, and I’ve seen clients use it to help them move to a more expensive property.
The primary residence principal exemption isn’t a one-time exemption either, you can use it as many times as you want. Especially with how much equity people have gained in our real estate market over the last couple of years, they may be worried about how much they’d have to pay back in t ...
Thursday, March 4, 2021 / by Ryan Nager
Here’s a quick update on Phoenix real estate heading into spring 2021.
Today we’re going to take a closer look at the spring market for Phoenix real estate in 2021. The word unprecedented is probably overused in today’s world, but it’s hard to find a better word to describe what’s happening right now.
"Homes are selling just as quickly as they’re listed."
For starters, we’re sitting at record-low inventory levels. There have never been this few homes for sale in Phoenix. Inventory is down almost 60% from where it was this time last year, and even that was low for our market. Additionally, homeowners have seen a 19% home appreciation rate year over year, so a lot of homeowners are sitting pretty with some nice equity in their properties.
The biggest things driving home price growth are record-low interest rates and an influx of people coming here from the coasts and other big cities. They’re able to offer a little more on ...
Wednesday, December 2, 2020 / by Jessica Nager
Are you concerned a housing bubble might be looming? In this post, I give you 3 reasons why the Phoenix Housing Market is nothing like the crisis we saw in 2005/2006. For more Phoenix real estate advice and tips on the current market, check out my youtube channel: https://www.youtube.com/channel/UCKwi5-5TiG3TIWWuY_GA8BA Reason # 1 - Rental Home Prices Are Rising Between 2000-2005 rental rates decreased as home prices increased. When home prices are increasing and rents are decreasing for the exact same home that is a strong signal of a real estate bubble. Today renters face stiff competition as rental rates are on the rise. Reason # 2 - Types of Buyers During the 2005 crisis, anyone could purchase multiple homes for little to no money down. Our buyers out there today are qualified with solid credit scores and the desire to live in that residence long term. Investors today are purchasing with all cash and typically 20% down, so we are seeing a lot of real money poured into the market. R! ...
Friday, December 27, 2019 / by Jessica Nager
It’s not 1999 anymore—and that means your first showing is going to take place online. If you want your house to sell fast and for the most amount of money, you need to make sure it looks as good as possible. To do that, it’s critical that your listing includes professional pictures and videos.
The fact is, people don’t really need to sell their homes with a traditional real estate agent anymore. While there are a variety of options on how to sell a house—whether for sale by owner, with a flat-fee brokerage, or with an awesome real estate agent like me—presenting a property in the best light possible is non-negotiable in today’s market.
The way people shop for real estate has also changed: over 90% of searches for a new home start online. The majority of this initial interest won’t involve you (or your realtor) at all. A prospective buyer will find a property they like on a real estate search engine! ...
Thursday, December 12, 2019 / by Jessica Nager
Do you currently feel stuck because you want to buy a new house, but need to sell your old one first? If you’re confused by the process, you’re not alone—but that’s why I’m here to help you navigate. If you find yourself in the position of needing to buy a new home and sell your existing one simultaneously, then this information is for you. By timing your steps and planning ahead, you’ll be able to save thousands of dollars and avoid being temporarily homeless.
You might be thinking, sure, homeless…it’s not that serious, is it? The truth is that the crucial period between closings could lead you to couch surfing if you don’t execute your timing correctly. Timing your sale and your purchase at the same time is what will enable you to come out of this successfully.
Since most Americans who own a home will find themselves in this position, I’ve created a  ...