Here is your weekly McNally and Associates Bay Area round up!
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Can you avoid paying taxes on your home?
If you own your home for longer than two years you can avoid paying what are known as “Capital Gains Taxes” Capital gains are the profits made when you sell an appreciable asset, such as a house. For example, if you buy a home for $200,000 and sell it for $500,000, then you have a capital gain of $300,000. Learn more by watching our newest video!
The Fed hiked their benchmark Fed Funds Rate by 25 basis points at their meeting last Wednesday, bringing it to a range of 5% to 5.25%. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates. When the Fed hikes the Fed Funds Rate, they are trying to slow the economy and curb inflation. This was the Fed's tenth hike since March of last year.
Do you know anyone who is looking to buy or sell this year?
There has never been a better opportunity for investors and we have a lofty goal to help over 100 families in 2023! If you have any family, friends or colleagues that might be in the market, we'd love an introduction so we can help them!
We are a boutique residential real estate team helping clients achieve their real estate goals in the Bay Area. We are a group of women who specialize in different markets across the Bay Area, while following a custom process that allows us to help buyers and sellers achieve their real estate goals efficiently. Our team is top 1% of all realtors in San Mateo County and San Francisco with a total of $340M+ lifetime sales. We take pride in knowing that our clients become friends and refer us to their friends and family members because we work to make dreams become a reality. Once our clients speak to us for an initial call, they understand why we are different and why they want to work with us. We are your personal real estate concierge in one of the most dynamic real estate markets in the world.
Olivia McNally
Real Estate Specialist |The Peninsula & S.F. Bay Area
McNally & Associates/EXP
650.576.6666
DRE# 01972985
EXP DRE: #01878277
DREAM+HOME
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