Accelerating into Spring

After a cool and frosty winter, the market is experiencing a boom in early 2024. As of February, approximately 56% of home sales were made in less than a month, with a median of 38 days on market. Additionally, 20% sold over list price, 21% were purchased as investments or second homes, 26% were bought by first-time homebuyers, and 33% were all-cash purchases — the highest monthly share of sales in almost 10 years.

It’s Tax Season!

With pandemic provisions running out, most of us are coping with filing our taxes by April 15 again. Already filed? Congratulations! Here are some tips for the procrastinators in the rest of us.

CHIC (Pearl)

Even though I prefer to use a tax professional instead of relying on an app, there’s still a lot of paperwork to pull together, and it’s easy for things to get lost. For me, it’s as simple as collecting all of our tax documents as they arrive in a special basket next to the rest of the mail. This way, when April 14th rolls around, I know where to find everything.

GEEK (Kevin)

Paperwork is so old school. The best part about modern technology is you can procrastinate until the last minute and just send your accountant a zip file. Just don’t sleep on your property tax bill! Second installments in Santa Clara County become delinquent — and subject to hefty fines — after April 10th. Good thing they let you pay online. Learn more here.

Anyone can appreciate this.

If you ever needed a visualization of the rising cost of homeownership, this chart should do the trick. Tracking median house sales price fluctuations by region since 1990, you can see a significant shift to the West and South and away from the Northeast, even as prices have appreciated across the country. Of course, the last spikes we saw in western sales led to the subprime bubble, so it’s good for investors to be cautious.