Written by Lilian Rydge on February 13, 2012.
The kids have grown, the company no longer uses the property as a retreat, the taxpayers want to downsize or the price offered represent a number of reasons why taxpayers decide to sell their ranch. When selling, taxpayers want to know what the tax implications are, if the capital gains taxes can be deferred, and what planning steps are required.
Two Tax Deferral Strategies
The tax implications of selling a ranch can represent upwards of 40 percent of the sales price. The state capital gains rate varies by state – the California state capital gains rate is 9.55 percent, while in Montana, it is 6.9 percent. Federal long term capital gains is 15 percent, scheduled to sunset to 20 percent on January 1, 2013 in addition to a 3.8 percent health care tax on individuals whose income is greater than $250,000 per year. A
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Written by Lilian Rydge on February 7, 2012.
When it comes to flipping, new investors often get burned by their mistakes.
Since the housing market crash of 2007, the government has tried to protect consumers from buying homes at inflated prices. One policy that was quickly enforced was the FHA “anti-flipping” rule: no FHA financing on properties that had been bought, renovated and marketed at a higher price within a 90 day period.
Unfortunately, what the government didn’t understand is that not all “flippers” are ripping people off. In fact, many of the investors brave enough to buy dilapidated properties with cash in order to fix them up and resell them are actually helping to clean up the housing mess.
Vacant, foreclosed homes attract vagrants and vandalism, adding further stress to struggling neighborhoods. Banks won’
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Written by Lilian Rydge on January 25, 2012.
The state of the property market can be assessed by keeping a close eye on the number of properties being marketed for Auction. When you spot more and more of the For Sale street signs emblazened with “Auction” you can safely bet that the property market is heating up.
This view is certainly articulated in the article today titled “Auckland house auctions hit high“. Based on sales data supplied by the Real Estate Institute (REINZ) the number of properties sold in November across the country as Auctions was the highest ever at more than 25%. Looking specifically at the Auckland market Barfoot & Thompson November reported that around 40% of it’s current listings are being for sale by auction.
These reported statistics got me interested as we have in the past reported on the number of listings coming onto the market and specifically on the market across our comprehensive database. Back in A
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Written by Lilian Rydge on January 12, 2012.
The Lenox at Patterson Place apartment complex in Durham has sold for $28.8 million, or $9.7 million more than the seller paid for the property just two years ago.
The Connor Group of Ohio bought the 292-unit complex in December 2009 for just over $19 million.
Lenox’s new owner is Chicago-based Westdale Investment Partners.
The deal reflects the strong performance of the apartment sector in recent years, particularly newer properties in good locations.
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Written by Lilian Rydge on January 10, 2012.
Got $3 million and a dream? The luxury housing market in King County was a good place to be in 2011! The average price per square foot, average sale price and number of homes on the market all point to the continuation of a huge buyer’s market in these higher price brackets. While there’s no set definition of what the “luxury” market is ($1 million buys a lot more home in Phoenix than it does in Seattle), for this we’re looking at homes that sold for $3 million or more.
The by-the-numbers list below shows a steady decrease in price per square foot, and on top of that, at the current pace of sales, it would take four years for all those homes to sell. In a balanced market, there would only be 4-6 months of supply.
Redfin area manager Febe Cude works mostly in Mercer Island, Laurelhurst, Ravenna and Queen Anne. She says
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