2021 December Newsletter

 Our December 2021 Update

A Look at Wealth 2021 Report

According to 2021 National Association of Realtors data, there was a 244.5% year-over-year increase in the number of home sales in the United States priced above $1 million in May.

For more trends and stats, view our 2021 "A Look At Wealth” luxury real estate market report!

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Ready to Hit the Slopes?

Here are the announced opening dates so far!

View Activities

Explore Outdoor Recreation

Explore Things to Do

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10 Ways to Spend a Winter Day Off the Slopes

While Park City is most often thought of as a ski destination, its off-slope activities are plentiful. For when you want to give your ski legs a break, or just try something new, consider the following:

Link to Additional Resources

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How's the Park City Market?

November 2021 Statistics for Single Family Homes in Park City Proper (84060)

November 2021 Statistics for Condos/Townhomes in Park City Limits (84060)

“All real estate is local” has never been truer than now. Pricing, availability, and demand vary widely from neighborhood to neighborhood, reinforcing the need for a local REALTOR to buyers through the jungle of competing bids and rising prices. We offer a full-service real estate brokerage to help you buy and sell in the Park City and Deer Valley luxury communities.

Call or text me today for more information: +1 (435) 602-8228

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Did You Know?

According to Coldwell Banker’s recent survey, 45% of Gen Z & Millennials are likely to say owning a home is an important financial goal for them. Check out our other survey findings!

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View Magazine

The latest edition of the View Magazine is online and in print!

Check out the hottest homes on the market throughout Utah today!

        

 

Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.

Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.

 

Ensure that you have the best representation when buying and/or selling Contact Paula Higman Real Estate Park City at 435-602-8228 

Connect With Us:

      

OPPORTUNITY ZONES--- DO YOU KNOW WHAT IT IS?

 Targeted Growth Through Collaboration

Stimulating growth in economically-disadvantaged communities is a provocative aspiration — one that requires collaboration and support from the foremost experts in community development. 

The Federal Opportunity Zones Program is an innovative reinvestment system established through the Tax Cuts and Jobs Act of 2017. Through temporarily deferring taxes on capital gains reinvested into designated Opportunity Funds, researchers estimate that the program may infuse rural and underserved markets with an estimated 6.1 trillion dollars.

Opportunity Zones were drawn from low-income census tracts with poverty rates of at least 20 percent and median family incomes of no greater than 80 percent of the area median income.

The governor of each state nominated up to a quarter of their low-income census tracts to be certified by the U.S. Department of the Treasury as Opportunity Zones.

Additionally, governors were given dispensation to nominate up to five percent of moderate-income tracts that are adjacent to qualifying low-income tracts to be designated as Opportunity Zones.

Opportunity Funds invest at least 90 percent of their capital in qualifying assets in Opportunity Zones. Investors who reinvest their realized capital gains into qualified Opportunity Funds receive the following benefits:

• A temporary tax deferral;
• A permanent exclusion from taxable income of capital gains from the sale or exchange of gains accrued from an investment in an Opportunity Fund; and
• A step-up in basis for capital gains, such that the basis of the original investment is increased by 10 percent if the investment in the opportunity zone fund is held for at least five years, and by an additional five percent if held for at least seven years. Therefore, those with assets invested for at least seven years will have 15 percent of their original gain excluded from taxation.

Real Estate

Opportunity Funds can invest in real estate projects, provided they build new construction or “significantly improve” existing structures.

Businesses

Opportunity Funds can also invest in businesses that perform the majority of their operating activities in Opportunity Zones.

Business Owners and Developers

Local employers have a new source of equity capital to access when looking to fund projects or expansions.

Investors with Capital Gains

Individuals and corporations benefit from deferring and reducing their capital gains tax liability.  

If you would like more information call or text me today.

435-602-8228