Most People Know You Can Shelter 250k As A Single Person And 500k As A Married Couple But Do People Realize You Also Get To Up The Basis In The House To Help Reduce Your Profit Calculation At The Time Of Sale? For Example, My Accountant Said The Following:
We have heard the buzz about a so-called “balanced” housing market in the past few months. Though it is hard to say when we will hit a proper balance, and a breath of calm, perhaps the real question we need to ask ourselves is “What is a balanced market?” and “What is best for me?” We don’t have all the answers yet (and that’s okay).
This past year, the Denver market has been in flux. However, in the past month or so, we have seen headlines foreshadowing doom and gloom. These headlines, although scary, don’t predict the true nature of Denver’s market.
While pending home sales are down almost 3% from last year, it is far from a crash. Instead, we are seeing the market cool down after a few years of the pandemic. Prices and interest rates are higher, meaning more people are holding off on leaping into home ownership. But still, demand remains high for good homes priced correctly.