I'm sure you've been seeing all the stories about mortgage lenders cutting jobs, filing for bankruptcy, and tightening the rules on new loans. It is indeed a mess.
If you are selling an asset- how does this affect you? The next couple of posts will give examples of what I am seeing on a weekly basis.
First are those selling residential real estate. Properties that were previously selling typically within a month are now taking much longer. Often times, even when an offer is made and accepted, the financing which the buyer supposedly qualified for falls through before close of escrow and the process begins all over again. There is a lot of "hurry up and wait".
Prices are being reduced and saving capital gains tax becomes even more important for those who need to sell. Others, who have less pressing needs are deciding to re-rent if this is possible and a few are offering seller financing.
This too shall pass, as all forms of investments surge in some cycles and decline in others. It's a reminder that diversification is critical to any financial plan.
Next - selling businesses
Paula Straub
www.savegainstax.com
760-917-0858
Fill out a qualification questionnaire and find out if you qualify to save capital gains tax.
http://www.savegainstax.com/qq.html
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