JUNE 17,  2025

What a crazy market right now......interest rates have stayed steady in the high 6's....and home prices haven't been escalating as rapidly as they had been,  so why does the market in the "under $700k seem a little slow right now?  There are some excellent buys out there and sellers seems to be willing to compromise somewhat,  so why aren't buyers clamoring to get into a house?  Is it because it's summertime and everyone is heading off to vacation?  Or do buyers feel like they can wait for interest rates to come down??  What a crazy idea that is, when there is good inventory they could be looking at right now.  We had an open house in Land Park last Saturday and got 50 people through....Sunday was Fathers Day so I only had about 15.....but when I spoke to an agent from another company she said she put out about 6 open house signs in the area she was having an open house and only had 4 people come through.   For those of you "in the market" and hoping to get into a home,  get out there and look at all the great homes that are for sale.  Do it now before everyone else gets the same idea and you have more competition.  Be the smart buyer and maybe compromise on some of the things you're hoping to find in a home and just get your foot in the door.....we all know that in 3 or 4 years you'll be soooooo soooooo happy you did! You'll be counting the equity dollars $$$$  in the home you bought!!  

 Charitable Giving From Your Trust

I was just reading an article yesterday that was very pertinent to a transaction that I became familiar with recently.  I work alot with Sucessor Trustees who have to dispose of a property after the owner has passed away.  Often times besides the owners bequeathing items to their heirs,  they want to leave a portion of their estate to a charity.   Unknowningly they may name a large organization without specifically stipulating what "area" of that charity they want a portion of their estate to go to.  For example,  they may say United Way....or maybe the American Cancer Society.....it could be any  number of large non-profits. Without specifically stating that they want it to go maybe  to "research"....or a cancer hospital or perhaps to care for those with a specific kind of cancer,   their money may not go to where they assumed it would. 

Sometimes a homeowner may just say they want their house donated directly to a non-profit.  The issue though, is that most charities don't want the property itself,  but rather the monies that come from the sale of that home.  I've learned that many charities have a company that handles the sale itself, they then turn the funds over to the charity or non-profit.  

My point today is,  IF you're considering leaving a portion of your estate to a charity, definitely speak to your attorney or whoever is preparing your Trust to make certain that your wishes are clear and that the Trust states exactly how you want that bequeath to be distributed.