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4 Tips to Help You Achieve Your Goals in 2021


These four tips will help you achieve your goals in 2021.
 
If you’re having trouble setting and achieving your goals for 2021, here are four tips I use that can help you too:

1. Have an accountability partner. An accountability partner means having someone to tell your goals to—this could mean a group of people, a mastermind, a friend or family member, or a coworker. Telling them the goal you’re reaching for and being able to check in with them on a weekly (or monthly) basis helps you keep your goals set. I use an accountability partner for my health and fitness goals. Having a class to go to or a trainer makes me be on time and pushes me to hit my goals.

2. Make SMART goals (Specific, Measurable, Achievable, Realistic, Timely). For the Achievable criterion, make sure you have short-term, medium, and long-term goals that are obtainable. Having achievable goals gives you a nice pat on the back as you move through the year.

If you have a goal, write it down and figure out whether it’s a financial goal, sales goal, etc.

 
3. Get educated. We’re always evolving and changing, and education is very important. Whether this means attending a webinar, seminar, or taking a Zoom class, getting educated will keep you at the top of your game. Technology is always changing aspects of the real estate business (e.g., contracts), and keeping up to date with these changes is a great way to maintain a sharp business.

4. Have a plan. If you have a goal, write it down and figure out whether it’s a financial goal, sales goal, etc. Then calculate how many transactions you’ll need to close and how much money you’ll need to make on a weekly, monthly, and yearly basis to reach that goal. After that, stick to your plan. If you have to tweak it throughout the year, that’s fine; just make sure you’re doing your due diligence and stick to the plan.

If you have questions about today’s topic or need any type of real estate assistance, don’t hesitate to call or email me. I’d love to help you.
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Location: Mission Viejo, CA, USA

Should I Fix Up My Home Before Selling?


These tips will help you decide how to prep your home for the market.

Should you take the time and money to fix up your home before selling or are you better off selling it at a discount and not doing anything? Here are some tips to help:

1. Get an assessment from a real estate professional. They should know the ins and outs of the market and be able to give you a better idea of what you could sell for with making fixes and without making fixes.

2. Get your reports upfront. For example, a termite inspection will give you a report about the conditions of the wood in your home. A pre-listing home inspection will point out any areas of neglect so we know how to price the home based on its condition if we do choose that route.

3. Be realistic with the pricing. In today’s market, it’s possible to overprice. Pricing at or slightly below market value will not only get you more eyes on the property, but it will also help you sell it faster and for more money.

4. Timing. If you have a few months and some cash to spend, the repairs can be easily made and really impact your final sale price.

If you have any questions for me about fixing up your home, selling your home, or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
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Location: Mission Viejo, CA, USA

What Do You Know About Proposition 19?


Here’s everything you need to know about Proposition 19.

Back in November, the “ayes” barely eked out the “nays” as Proposition 19 passed with a margin of 51% to 49%. This directly impacts the tax basis of California homeowners who are in the 55+ age bracket.

One of the benefits of Prop. 19 is that it allows you, a senior homeowner, to transfer your tax basis (1%) to any county in California, not just the 14 counties that had been participating prior to the 2020 vote. The second benefit is that a tax basis can be transferred up to three times—a significant increase from the previous one-time cap. This gives you more flexibility if you know your next home won’t be your “forever” home.

Here’s a huge drawback, though: In order for children/grandchildren to inherit a property from their parents/grandparents and keep the same tax basis, the property must be used as a primary residence. So if, for example, a son is living in Florida and his California-based parents pass away, he’d have to move into their house permanently so he could keep their tax basis; if he plans to hold onto it as a second home or rental property, then the property must undergo a tax assessment for 1% of its current value.

Prop. 19 gives you more flexibility if you know your next home won’t be your “forever” home.
 
Depending on how long someone’s parents or grandparents have been living in a property, this change in the inheritance law could mean the difference between them paying $1,000 a year in taxes or $10,000 a year in taxes. Properties inherited as second homes will be reassessed at the current market value—no exceptions. These tax liabilities will be huge.

If you have more questions about Prop. 19 or need some help with your buying, selling, or investing plans, reach out by phone or email anytime. I’m always here to help you make sense of the market, and I look forward to hearing from you soon.
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Location: Mission Viejo, CA, USA
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