Klinge Realty Goes to China!

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China’s leading international real estate show is coming up next month.  The 11th Annual Overseas Property & Immigration & Investment Exhibition will be March 5-7 at the Shanghai International Conference Center Natatorium.

It is the #1 real estate exhibition in Mainland China!

Buyers were purchasing properties right off the photos at the display booths last year, and they expect another good year in 2016.

Klinge Realty’s listings will be prominently displayed – join in!

If you want your property to receive direct exposure to Chinese investors, contact Jim the Realtor at (858) 997-3801 or jim@jimklinge.com.

Boomers Survey

This survey is dated 2014, and they should update it every year – or at least until I’m right about having a boomer liquidation sale coming down the pike!

This survey asks several different questions, but notice how 20% to 30% of the responses seemed to divulge some stress or uncertainty about their future:

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Uh-oh.  It looks like this homeownership thing could be a boomer addiction:

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It’s still early in the game for most boomers.

But here’s where the game changers start to come out.  Only 58% don’t plan to sell?  Fine, they aren’t going to make the market – it’s the other 42% that will determine our real estate future:

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Fluff question below – of course we like our home, at least until selling it becomes a better idea:

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Almost a quarter of boomers know they are already short on income, and will be hitting the housing ATM.  How many others who didn’t expect to use their equity in 2014 will eventually need to cash out for various reasons?

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Here’s where the real trouble starts below – 46%???

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The best question towards the end of the survey once respondents have loosened up – and lo and behold, 61% of boomers aren’t sleeping that well.

If it only ends up being 20% to 30% of boomers who make a move, that’s still at least 15 million people in America who will be deciding our market!

The biggest concern?

Elderly folks who haven’t moved in a generation (or two), who know their money is running out and happen to see a couple of lower-priced sales nearby.  In a effort to bank as much equity as possible, they hit the panic button and grab the first realtor they find who then dumps their house for 95% of value.

It’s a downward spiral that could pick up steam quickly.

More Shipping Containers

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A new restaurant due to open in the US is claimed to be the largest in the country to be built using shipping containers. The Smoky Park Supper Club in Asheville, North Carolina, is constructed from 19 containers and was built by shipping container construction firm SG Blocks.

They think they could have built it in 1.5 days, but they took their time and did it in three days instead – here is the time-lapse construction in 45 seconds:

Capital-Gains Tax on Real Estate

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Last night we heard a proposal to raise the capital-gains tax.  Can we cut to the chase and dive into reforming the tax code instead?

I don’t want to get into the politics of it, let’s leave that for other bloggers.  Everyone can agree that some sort of tax reform is wanted and needed – and hopefully somebody will pull it off someday.

Realtors hear about it all the time, especially from the long-time owners of rental properties.  The thought of paying a huge tax bill makes them immediately dismiss the idea of selling, because they know if their leave it to their heirs, the stepped-up basis will apply.

We shouldn’t have a tax code that influences real estate decisions. Tax reform should include a neutral stance on when you sell real estate – it should be taxed the same, whether you are dead or alive.

What about the MID, the mortgage-interest deduction?  Let’s get rid of that too, and create a pure marketplace where people buy homes to live in, and raise a family, and not because they get a tax break.

If you have any other reason to buy a house – investment, etc. – then great, but tax benefits shouldn’t be one of those motivators, because they won’t apply to all citizens.

‘Oh Jim, now you’re asking for it. The NAR is going to punch your ticket and throw you out of the club for that kind of crazy talk.’

Yeah?  The National Association of Realtors needs to play a bigger game.  The millions they spend on lobbying could help champion tax reform, instead of sounding like a broken record on the MID.

Here are two articles discussing the topic:

1.  This guys says that something has to give:

http://www.forbes.com/sites/anthonynitti/2015/01/20/why-republicans-should-embrace-a-28-tax-on-capital-gains/

2.  This guy points out how small the MID benefit really is:

http://www.latimes.com/business/hiltzik/la-fi-mh-capital-gains-20150119-column.html

Open-House Theft

A Maryland woman is going to jail after she posed as a real estate agent and stole jewelry from houses, including an irreplaceable heirloom.

Sally Spaisman, 58, was sentenced Wednesday to one year in jail and five years of probation, the Montgomery County State’s Attorney’s Office says, for stealing more than $82,000 worth of jewelry from about 12 homes in the Bethesda, Chevy Chase and Potomac areas.

She pleaded guilty to the theft charges after she combed the Internet for expensive homes on the market, showed up at the open houses, then stole expensive jewelry, prosecutors said.


World News Videos | ABC World News

Naked Real Estate

One thinks of Americans as more prudish than Europeans, but there are now more than a dozen naturist and clothes-optional resorts in Pasco County, just north of Tampa. The nudist lifestyle has never been more popular.

“I started out on my own 10 years ago, but now have six staff,” says Youngblood. “Our clients range from retired lifestyle nudists to buy-to-let investors, to couples looking for starter homes.”

http://www.telegraph.co.uk/property/11215810/Meet-the-naked-estate-agent.html

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