Coronavirus and the Real Estate Market

In general, I would say the Virus pandemic has driven the Real Estate market into a state of hibernation. Buyers still need to buy but were cautious about going out. Sellers still need to sell, but did not want to expose their homes or families to exposure to the virus by allowing outsiders to come through their homes.

I watch the residential market in my area every morning. During the Covid months (March April, May), new listings in the Watsonville area had pretty much dried up. We would get one or two new listings in a week. In general the count of listings which had come on the market in the past 7 days stood at 3 -5.

This morning that number is 17.

My take on this change is that people are relaxing their defenses...

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What is a 1031 Exchange?

You may hear the term 1031 exchange when discussing real estate transactions without fully understanding what the term means.

It is a process established to help an investor defer taxes on gains he may realize on investment property.

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