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(former)FormerSanDiegan
ParticipantSince everybody wants to live here, they aren’t making any more land, and it’s a new economy, I thought we should all start considering how to select a real estate agent.
Here’s an excellent article ..
ParticipantSince everybody wants to live here, they aren’t making any more land, and it’s a new economy, I thought we should all start considering how to select a real estate agent.
Here’s an excellent article ..
ParticipantSince everybody wants to live here, they aren’t making any more land, and it’s a new economy, I thought we should all start considering how to select a real estate agent.
Here’s an excellent article ..
ParticipantSo, if I read this right, what you saying is that it’s a new paradigm, so historical precedence is no longer relevant.
ParticipantSo, if I read this right, what you saying is that it’s a new paradigm, so historical precedence is no longer relevant.
ParticipantSo, if I read this right, what you saying is that it’s a new paradigm, so historical precedence is no longer relevant.
ParticipantAfter giving this considerable thought, I have to agree 127% with Alex.
I just checked into it and realized that they aren’t making any more land here West of the I-5. Alex you hit the nail on the head !
I also looked at what happened during the last downturn in the early 1990’s. I discovered that back then the County Gov’t had a secret land manufacturing deal with some insider developer types, including some former gray-haired SD mayoral candidates. This secret process resulted in land actually being manufactured west of the I-5 in the early 90’s. This resulted in an oversupply of available land in the 1990’s and contributed to the decline in real estate values west of I-5.
Without this land manufacturing subsidy in place in, this time will be different and coastal properties will not decline in value.Alex- thanks for bringing this wonderful topic forward and forcing us to re-think our positions.
Guess what, I also did some research and just realized that the coastal weather is an idyllic 75 degrees most of the year. Imagine that, room temperature outside. I also just heard that you don;t really need A/C west of the I-5. Just wait until that news gets out in the South or Midwest. People will move here in droves.
ParticipantAfter giving this considerable thought, I have to agree 127% with Alex.
I just checked into it and realized that they aren’t making any more land here West of the I-5. Alex you hit the nail on the head !
I also looked at what happened during the last downturn in the early 1990’s. I discovered that back then the County Gov’t had a secret land manufacturing deal with some insider developer types, including some former gray-haired SD mayoral candidates. This secret process resulted in land actually being manufactured west of the I-5 in the early 90’s. This resulted in an oversupply of available land in the 1990’s and contributed to the decline in real estate values west of I-5.
Without this land manufacturing subsidy in place in, this time will be different and coastal properties will not decline in value.Alex- thanks for bringing this wonderful topic forward and forcing us to re-think our positions.
Guess what, I also did some research and just realized that the coastal weather is an idyllic 75 degrees most of the year. Imagine that, room temperature outside. I also just heard that you don;t really need A/C west of the I-5. Just wait until that news gets out in the South or Midwest. People will move here in droves.
ParticipantAfter giving this considerable thought, I have to agree 127% with Alex.
I just checked into it and realized that they aren’t making any more land here West of the I-5. Alex you hit the nail on the head !
I also looked at what happened during the last downturn in the early 1990’s. I discovered that back then the County Gov’t had a secret land manufacturing deal with some insider developer types, including some former gray-haired SD mayoral candidates. This secret process resulted in land actually being manufactured west of the I-5 in the early 90’s. This resulted in an oversupply of available land in the 1990’s and contributed to the decline in real estate values west of I-5.
Without this land manufacturing subsidy in place in, this time will be different and coastal properties will not decline in value.Alex- thanks for bringing this wonderful topic forward and forcing us to re-think our positions.
Guess what, I also did some research and just realized that the coastal weather is an idyllic 75 degrees most of the year. Imagine that, room temperature outside. I also just heard that you don;t really need A/C west of the I-5. Just wait until that news gets out in the South or Midwest. People will move here in droves.
ParticipantWe could always fill in the rest of Mission Bay for development. Remember that Fiesta Island is a former dump. Oh, yeah Fiesta Island is vacant, too.
ParticipantWe could always fill in the rest of Mission Bay for development. Remember that Fiesta Island is a former dump. Oh, yeah Fiesta Island is vacant, too.
ParticipantWe could always fill in the rest of Mission Bay for development. Remember that Fiesta Island is a former dump. Oh, yeah Fiesta Island is vacant, too.
ParticipantYou have to recapture depreciation regardless of gain or loss on the property. The reason is that you were able to either deduct the depreciation against income (either in each you you applied it or any remaining carryover loss when you sell).
Federal tax on recapture is 25%. State is whatever your tax rate happens to be (likely near the max of 9.3%). Hopefully your federal tax break you received previously due to depreciation was at least 25%.
Yes, you do reduce the cost basis by the amount depreciated as SD R wrote above.
So, to expand on the example, you’d have to pay the FED’s 0.25*15000 = 3750 in depreciation recapture tax. You’d have to pay CA up to 0.093*15000 = 1395.
ParticipantYou have to recapture depreciation regardless of gain or loss on the property. The reason is that you were able to either deduct the depreciation against income (either in each you you applied it or any remaining carryover loss when you sell).
Federal tax on recapture is 25%. State is whatever your tax rate happens to be (likely near the max of 9.3%). Hopefully your federal tax break you received previously due to depreciation was at least 25%.
Yes, you do reduce the cost basis by the amount depreciated as SD R wrote above.
So, to expand on the example, you’d have to pay the FED’s 0.25*15000 = 3750 in depreciation recapture tax. You’d have to pay CA up to 0.093*15000 = 1395.
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