George Nowicki-Realtor

https://www.nar.realtor/magazine/real-estate-news/sales-marketing/7-types-of-tax-deductible-home-improvements?utm_term=C458043E-5707-41E6-8F9D-7A5D34255370&lrh=5289651de6c7c528b62f4c63fd8ba0ddc825bb5740f9aca94ea1d58775f2e5b6&utm_campaign=3BFA9068-DFBC-477B-BC94-C168B9A999F1&nwsltr=navnar&utm_content=986B3523-CA3B-4BFB-9A98-3623720FE2A3&fbclid=IwAR0kzNA6CYYe53WEVUcqa5Dw7mDt9xfiBMKdnjx7QZ-WYwon8XZ53fc1Vts_aem_AUMI37AK51K7guShCcuGjolreRe25a4UIgrChGHitLk3cjsS94IeTiufaI0W5iBNExUZF_B1zGuRVDtvBHlOg4q7

7 Types of Tax-Deductible Home Improvements With Tax Day approaching, make sure your clients are taking all the home deductions for which they may qualify.

From the outside it looked like poor sportsmanship on Travis Kelce’s part. But if you watch the video in slow motion, you can clearly see what Kelce is saying...

“Andy, if you want to sell your house or investment property, you need to call George Nowicki-Realtor ASAP. The hot selling season historically has been the weekend after Superbowl Sunday through Mother's Day and Silicon Valley currently has an inventory shortage and is experiencing multiple offers again. At least that's what Taylor told me".

Joe Burrow plans to stick around in Southern Ohio for a while. He recently purchased a 7,300-square-foot, four-bedroom home in Cincinnati for $7.5M!

Burrow’s purchase probably wasn’t a big stretch, as the QB recently signed a five-year contract extension with the Bengals. The agreement is worth $275 million—the most ever for an NFL player. When we looked at the homes of the Bengals stars in 2022, Burrow’s starter home was a two-story dwelling he snagged in 2020 for $835,000.

Full story: https://rltor.cm/mwdaok

Tips to Help Prevent Frozen Pipes

• If provided, close inside valves supplying water to outdoor faucets and hookups. Disconnect any hoses from exterior faucets.

• Open outdoor faucets to allow residual water to drain; be sure to keep them open during the cold weather months, while the water supply is turned off.

• Keep garage doors closed to help protect water pipes located in the garage.

• Open the doors on cabinets where plumbing is located. This can help allow warmer air to circulate around the pipes.

• For pipes that are at risk of freezing (both hot and cold water pipes), let water drip from faucets.

• Keep the heat in your home set at a minimum of 55 degrees Fahrenheit.

What to Do if You Have a Frozen Pipe

• Locate and close the main water shutoff valve as soon as possible and before temperatures rise above freezing.

• Inspect pipes for damage, including those in attics and crawl spaces, where it is safe to do so.

• As temperatures increase above freezing, watch and listen for signs of water leaks.

• If a pipe is leaking, do not turn on the water. Open all faucets including those outside to drain remaining water from pipes and call a licensed plumber for repairs.

• If no leaks are detected, turn water back on slowly. Continue to check for leaks before turning water on completely.

• Never use torches or heat guns to facilitate thawing as these can create fire hazards.

HAPPY THANKSGIVING EVERYONE!!!

New IRS Tax Brackets

The Dave Brubeck house in Oakland Hills is for sale for a mere $3,000,000

https://www.6630heartwood.com/?fbclid=IwAR3SqeMAAzhwoM1zb3jPebbh8d1uXingZWbPDyvwcYo1w23JCf5BxmyCx90

6630 Heartwood Drive Cantilevering 16 feet in the air is a significant piece of Mid-century modern architectural design history: 6630 Heartwood Drive, built for jazz legend Dave Brubeck and his wife Iola by architect Beverley D. Thorne. It was the Brubeck family home from 1954 until 1960 when they moved to the East Coas...

https://www.yahoo.com/finance/news/real-estate-us-homeowners-have-lost-23-trillion-since-june-redfin-data-194008081.html

Real estate: US homeowners have lost $2.3 trillion since June: Redfin data U.S. homeowners have lost $2.3 trillion since June, according to a new report from the real-estate brokerage Redfin. The total value of U.S. homes was $45.3 trillion at the end of 2022, down 4.9% from a record high of $47.7 trillion in June. That figure signifies the largest June-to-December percent...

https://www.kron4.com/news/national/google-slashing-12000-jobs-amid-widening-tech-industry-layoffs/

Google slashing 12,000 jobs amid widening tech industry layoffs Google is laying off 12,000 workers, becoming the latest tech company to trim staff after rapid expansions during the COVID-19 pandemic have worn off.

As a Realtor I get asked about the market quite a bit as you would expect. Historically the prime selling season is Super Bowl Sunday until Mothers Day. Covid messed that up for a couple of years so I wanted to show you what really happened in 2022 in four very different markets by quarter. Now, a disclaimer, Cost Per Square Foot isn't the best measurement when talking about houses as each house in each location in each school district will be different, but it will show you the trend we saw in 2022 for these specific areas. These are are very different in the types and ages of homes. For example, I could compare Blossom Valley to Cambrian which are fairly similar in home styles, lot sizes etc. Blossom Valley, Almaden, Willow Glen and Los Gatos are all very different, but you will see a similar trend in all four areas.

These are closed escrows on an average cost per square foot basis, so in some cases, a house that sells on May 15th may close on or around June 15th, a different quarter. December 2021 sales may close escrow in January 2022. A different quarter and year. So we need to take that into consideration.

While I could get very detailed about the stats and would be happy to discuss your personal property with you, the trend is pretty clear. The first two quarters had limited supply, short days on the market and multiple offers, thus driving up the prices. The war in Europe started February 24th. This had a major effect on the the stock market and specifically our local High Tech stocks. NASDAQ started 2022 at $15,832 and ended the year at $10,466. The yearly high was $15,832 and the yearly low was $10,324. The NASDAQ finished at 65% of it's yearly high. The S&P and DOW all dropped but for illustration I'm using the NASDAQ as it tends to be very tech heavy. There are many factors behind home prices, the stock market being only one as many of the Silicon Valley buyers are using stock money to purchase their homes.

Blossom Valley's Q4 finished 80% of it's quarterly high. Almaden finished 83% of it's quarterly high. Willow Glen finished 82% of it's quarterly high. And Los Gatos 82% of it's quarterly high. So as you can see the results are very similar regardless of the home sizes, zip codes, lot sizes, school districts etc.

So I won't make any forward looking statements in regards to 2023 and 2024. I'll let you draw your own conclusions based on your own knowledge of the stock market, our current and predicted economic situation and trends, national and local politics, national economic policy, world events, a possible recession, etc. We must also include the exodus out of California since Covid in 2020 as more people were able to work from home and as Baby Boomers decided to leave the state with their home equity. All of which are wild cards moving into 2023.

Hopefully this will help you see and understand the real numbers coming out of 2022, a strange transitional year, and moving forward in 2023.

https://www.nar.realtor/magazine/real-estate-news/5-reasons-this-isnt-a-repeat-of-the-2008-housing-crash?narmail=MembersEdge&date=12-22-2022&user=2673185

5 Reasons This Isn’t a Repeat of the 2008 Housing Crash NAR Chief Economist Lawrence Yun draws the distinctions between today’s real estate market and that of more than a decade ago.

Freddie Mac reported the following national averages with mortgage rates for the week ending Nov. 3:

30-year fixed-rate mortgages: averaged 6.95%, with an average 0.8, falling last week’s 7.08% average. Last year at this time, 30-year rates averaged 3.09%.

15-year fixed-rate mortgages: averaged 6.29%, with an average 1.2 point, dropping from last week’s 6.36% average. A year ago, 15-year rates averaged 2.35%.

5-year hybrid adjustable-rate mortgages: averaged 5.95%, with an average 0.2 point, falling from last week’s 5.96% average. A year ago, 5-year ARMs averaged 2.54%.

https://www.zillow.com/homedetails/115-Wilkins-Rd-Fayetteville-GA-30214/52270533_zpid/?fbclid=IwAR0Fzb0PMBEVb__Om4msqw_-VC985d8VlAR_vzyDQ1v1xcJEzr2yhuuTgK4

115 Wilkins Rd, Fayetteville, GA 30214 | MLS #7075897 | Zillow For sale This 3122 square foot single family home has 5 bedrooms and 4.0 bathrooms. It is located at 115 Wilkins Rd Fayetteville, Georgia.

https://www.mercurynews.com/2022/07/26/bay-area-home-prices-see-largest-may-to-june-drop-on-record/?fbclid=IwAR1F2Xvn0rjGINZeByO_XkHjKAtKzboUT63pbDADcpnbynhgdQbDlYHIH6w

Bay Area home prices see largest May-to-June drop on record In June, the median price of existing single-family houses in the nine-county region declined 7% from the previous month — the steepest May-to-June dip ever recorded by the California Associa…

March Madness

https://magazine.realtor/daily-news/2022/03/10/homes-worth-1-million-or-more-at-record-high?AdobeAnalytics=ed_rid%3D2673185%26om_mid%3D6339%7CRealtorMagNews_2022_03_10%26om_ntype%3DREALTOR%20MAG%20NEWS

Homes Worth $1 Million or More at Record High Pricier homes are taking up a larger chunk of housing inventory. “The surge in housing values has turned many homeowners into millionaires,” says one housing expert.

https://magazine.realtor/daily-news/2022/02/03/best-paint-colors-for-selling-in-2022?AdobeAnalytics=ed_rid%3D2673185%26om_mid%3D6155%7CRealtorMagTips_2022_02_08_Agents%26om_ntype%3DREALTOR%20MAG%20TIPS

Best Paint Colors for Selling in 2022 Find out which colors appeal the most to buyers when listing a home for sale.

https://www.cnbc.com/2022/01/07/most-expensive-home-in-america-lists-for-295-million-may-head-to-auction.html

Most expensive home in America lists for $295 million, may head to auction Along with a record-setting price, the property known as "The One," in the Bel Air section of Los Angeles, comes with a history of drama, lawsuits and debt.

https://magazine.realtor/daily-news/2021/12/30/where-did-people-move-to-in-2021?AdobeAnalytics=ed_rid%3D2673185%26om_mid%3D5967%7CRealtorMagNews_2021_12_30%26om_ntype%3DREALTOR%20MAG%20NEWS

Where Did People Move to in 2021? Long-distance, state-to-state moves saw an increase this year. Here’s where new residents were heading.

https://magazine.realtor/daily-news/2021/12/10/average-homeowner-equity-gain-in-third-quarter-57k?AdobeAnalytics=ed_rid%3D2673185%26om_mid%3D5867%7CRealtorMagNews_2021_12_10%26om_ntype%3DREALTOR%20MAG%20NEWS

Average Homeowner Equity Gain in Third Quarter: $57K Homeowners continue to gain wealth as home prices rise. View this state map to see the breakdown for your area.

https://magazine.realtor/daily-news/2021/11/04/study-adus-can-add-35-to-home-s-value?AdobeAnalytics=ed_rid%3D2673185%26om_mid%3D5622%7CRealtorMagNews_2021_11_04%26om_nytpe%3DREALTOR%20MAG%20NEWS

Study: ADUs Can Add 35% to Home’s Value Accessory dwelling units have been on the rise since the pandemic, and are commanding higher home prices for properties that have one.

https://magazine.realtor/daily-news/2021/11/03/market-unpredictability-forces-zillow-offers-to-fold?AdobeAnalytics=ed_rid%3D2673185%26om_mid%3D5615%7CRealtorMagNews_2021_11_03%26om_nytpe%3DREALTOR%20MAG%20NEWS

Market ‘Unpredictability’ Forces Zillow Offers to Fold Most of the homes the company has purchased through its iBuying program are now worth less than what Zillow paid for them, analyst says.

Santa Clara County saw the highest Y-o-Y median price appreciation in the region, rising 18.8% to $1,650,000, while the average sale price rose 17.9% to $2,035,253. Sales rose 12.7% compared to last year’s already overheated number, and sales volume of nearly $7 billion, up 32.9% over last year, was easily the second highest quarter on record, eclipsed only by 21Q2’s record-setting level. Homes sold for about 9% above listing price and with a median days-on-market of just eight. Dr. Eisenberg says: “This is a market that shows absolutely no signs of slowing down. The slight price declines compared to last quarter are undoubtedly just a return to seasonality, as children return to classes for the first time in more than a year.”

DIY Projects With the Best ROI

When looking to sell your home, many clients ask what are the DIY projects that have the best return on investment. While there are a number of projects to choose from, here are the top three that can boost your bottom line.

Kitchen cabinets
When buyers tour a listing, they’re guaranteed to take a close look at the kitchen to see whether it will meet their needs, both functionally and aesthetically. Kitchen projects can be as simple as painting the cabinets, replacing the hardware, and installing a gorgeous faucet. You can also install all new cabinets or build an island, depending on your needs and skills.

Bathroom updates
Updating your toilet or light fixtures are both much easier than you think. You can also add a fresh coat of paint and create an accent wall for a more modern look. Replacing the tile in your shower area can also go a long way in transforming the space.

Energy efficiency improvements
Many buyers now are concerned about their energy consumption. Depending on your skillset, these types of improvements can vary widely. If you’re able to do something like install new windows, that can go a long way in adding value to your home. Otherwise, installing smart thermostats or switching to LED light fixtures are more manageable.