Facts About Rancho Santa Fe Real Estate

Rancho Santa Fe. How Much Should You Offer?

Comparable sales figures is a good guide for homeowners who are pricing their Rancho Santa Fe and a good guide for prospective buyers. Make sure you compare homes that are similar to the one your are considering...the same neighborhood, the same size, the same condition. Also, make sure you compare sales within the past six months.

Ask your REALTOR for a comparison of the list price and sales price of comparable Rancho Santa Fe sales. This information may give you a trend and a guideline for your offer. For example, maybe homes in the area have consistently listed for more than they actually sold for. If that is the case, find out what percentage of reduction occurred. Use this information as a basis for your offer.

Buying Rancho Santa Fe Real Estate...Will it Pay?

The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your Rancho Santa Fe loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about home appreciation values in your area, please call or E-mail me today.

Green Remodeling Your Rancho Santa Fe

Energy conservation. The average Rancho Santa Fe today uses systems for heating, ventilation and air conditioning, and most homes are not built as efficiently as they could be, resulting in high energy consumption. The U.S. Department of Energy believes if current buildings were green-improved, they would use $20 billion less in energy per year. Rancho Santa Fe green remodeling puts a strong emphasis on making homes as efficient as possible with modifications such as energy-efficient appliances and thermostats that can be programmed at different temperatures for different times of the day.

The Benefits of Selling Rancho Santa Fe

As you know, you are allowed to sell your Rancho Santa Fe principal residence once every two years and exclude up to $250,000 ($500,000 for a married couple) of the gain of the sale on your Federal income tax. Please note: This is not a once in a lifetime tax savings and you don’t have to be any certain age or buy a more expensive property. If you meet the two-year residence test you can sell your principal residence every two years if you are so inclined and the market cooperates. But this tax saving does not affect rental property unless you convert the rental to your personal residence, live in it for two years and then sell it.

Rancho Santa Fe BENEFITS

A benefit is an advantage or something that promotes or enhances well-being. A Rancho Santa Fe benefit might be its location, its home styles, its diversity and/or its proximity to major highways, employment, education and shopping. Whether or not any of these factors are or are not a benefit depends entirely on the point of view of the potential buyer. For example, being close to a major airport might be important for someone who flies a lot and an annoyance to someone who never flies and dislikes the noise of airplanes flying overhead.

Rancho Santa Fe DEDUCTIONS

One of the advantages of home ownership is that while most other types of interest are not tax deductible, the interest you pay on your Rancho Santa Fe loan is deductible on your Federal and State income tax. This fact alone gives homeowners a distinct advantage over renters.