Happy New Year to all my past, present and future clients! I hope your holiday season was filled with lots of joy and laughter. I want to take a brief moment to THANK all of you for your continued loyalty and support – allowing me to work with you and putting me in the Top 1% of KW Real Estate Agents nationwide. What a great honor! For it is YOU that allows me to be in business, doing what I love, helping you and others with your Park City & Deer Valley real estate needs. I am looking forward to keep doing what I love and work with your for many years to come. I wish you a successful New Year filled with lots of happiness and good health.
Just a quick update on the newly passed tax law. Congress says its a gift for us, but is it?
In 2017 we learned to expect the unexpected, whether it be in politics, weather or the housing sector. Little about the housing market went as forecast last year. Instead the market got hotter, the inventory tightened, prices rose, mortgage rates barely budged and new home construction picked up.
Experts foresee the following for 2018:
1. The pace of sales will slow early in the year—but not for long.
2. Inventory will continue to be a drag.
3. Price growth will slow—but not stop.
4. The rent versus buy equation could tilt toward renting in costly markets.
5. Mortgage rates will hover around 4%.
6. Millennial demand for housing will keep climbing.
In summary the reform should be good for real estate, with tax advantages for pass-through entities improving. Before making decisions based on tax reform, please be sure to speak with a tax accountant up to date on all real estate rules, as those will be coming fast and furiously from the IRS!
Insure that you have the best representation when buying and/or selling Park City real estate. Contact Steve Realtor and Associate Broker at 435-640-6966 for more information about Utah properties.