[joec]

BG, a post I actually don’t disagree with. Anyhow, I think a lot of my point is that we are a product of our environment and what we experienced ourselves. I also feel the real estate market now is very different from 20-30 years ago. I do have family and friends in the coastal areas both here, LA and in the bay area and they bought a long time ago paying a handsome sum even back then, but you talk to a lot of these people now and most would say they wouldn’t be able to afford buying anything here “now” based on their pay/job, etc. I don’t think the situation on the coast in terms of pricing, fixers is what it is now with the amount of buyers shopping in those areas and the amount of money and ease of financing compared to 30 years ago. Also, a lot of these folks back then had regular jobs being able to buy these properties, most now are probably move up buyers or higher paying professionals.

[joec]

BG, a post I actually don’t disagree with. Anyhow, I think a lot of my point is that we are a product of our environment and what we experienced ourselves. I also feel the real estate market now is very different from 20-30 years ago. I do have family and friends in the coastal areas both here, LA and in the bay area and they bought a long time ago paying a handsome sum even back then, but you talk to a lot of these people now and most would say they wouldn’t be able to afford buying anything here “now” based on their pay/job, etc. I don’t think the situation on the coast in terms of pricing, fixers is what it is now with the amount of buyers shopping in those areas and the amount of money and ease of financing compared to 30 years ago. Also, a lot of these folks back then had regular jobs being able to buy these properties, most now are probably move up buyers or higher paying professionals.

[joec]

BG, a post I actually don’t disagree with. Anyhow, I think a lot of my point is that we are a product of our environment and what we experienced ourselves. I also feel the real estate market now is very different from 20-30 years ago. I do have family and friends in the coastal areas both here, LA and in the bay area and they bought a long time ago paying a handsome sum even back then, but you talk to a lot of these people now and most would say they wouldn’t be able to afford buying anything here “now” based on their pay/job, etc. I don’t think the situation on the coast in terms of pricing, fixers is what it is now with the amount of buyers shopping in those areas and the amount of money and ease of financing compared to 30 years ago. Also, a lot of these folks back then had regular jobs being able to buy these properties, most now are probably move up buyers or higher paying professionals.

[joec]

[quote=bearishgurl][quote=joec]I’ve always wondered, are there gift taxes since the equity is worth over 13k or it’s different for real estate?[/quote]

There is no “gift” here. The equity is unrealized. Sharing title to real property with a family member in the form of a quitclaim deed is not a “gift.”

–This post should not be construed as legal advice and I am not an attorney.-[/quote]

This is still confusing to me since I’m sure giving someone stock (non-sold/unrealized gains) is definitely a gift as well as automobiles, stock options (also unrealized), a collectible collection or pretty much anything else.

Is it simply just real property then? What about investment property or business interest in properties?

[joec]

[quote=bearishgurl][quote=joec]I’ve always wondered, are there gift taxes since the equity is worth over 13k or it’s different for real estate?[/quote]

There is no “gift” here. The equity is unrealized. Sharing title to real property with a family member in the form of a quitclaim deed is not a “gift.”

–This post should not be construed as legal advice and I am not an attorney.-[/quote]

This is still confusing to me since I’m sure giving someone stock (non-sold/unrealized gains) is definitely a gift as well as automobiles, stock options (also unrealized), a collectible collection or pretty much anything else.

Is it simply just real property then? What about investment property or business interest in properties?

[joec]

[quote=bearishgurl][quote=joec]I’ve always wondered, are there gift taxes since the equity is worth over 13k or it’s different for real estate?[/quote]

There is no “gift” here. The equity is unrealized. Sharing title to real property with a family member in the form of a quitclaim deed is not a “gift.”

–This post should not be construed as legal advice and I am not an attorney.-[/quote]

This is still confusing to me since I’m sure giving someone stock (non-sold/unrealized gains) is definitely a gift as well as automobiles, stock options (also unrealized), a collectible collection or pretty much anything else.

Is it simply just real property then? What about investment property or business interest in properties?

[joec]

[quote=bearishgurl][quote=joec]I’ve always wondered, are there gift taxes since the equity is worth over 13k or it’s different for real estate?[/quote]

There is no “gift” here. The equity is unrealized. Sharing title to real property with a family member in the form of a quitclaim deed is not a “gift.”

–This post should not be construed as legal advice and I am not an attorney.-[/quote]

This is still confusing to me since I’m sure giving someone stock (non-sold/unrealized gains) is definitely a gift as well as automobiles, stock options (also unrealized), a collectible collection or pretty much anything else.

Is it simply just real property then? What about investment property or business interest in properties?

[joec]

[quote=bearishgurl][quote=joec]I’ve always wondered, are there gift taxes since the equity is worth over 13k or it’s different for real estate?[/quote]

There is no “gift” here. The equity is unrealized. Sharing title to real property with a family member in the form of a quitclaim deed is not a “gift.”

–This post should not be construed as legal advice and I am not an attorney.-[/quote]

This is still confusing to me since I’m sure giving someone stock (non-sold/unrealized gains) is definitely a gift as well as automobiles, stock options (also unrealized), a collectible collection or pretty much anything else.

Is it simply just real property then? What about investment property or business interest in properties?

[joec]

I’ve started to now vote against anything the teacher’s union, fire and police union supports as well.

I tend to vote with the Taxpayer advocate groups…

[joec]

I’ve started to now vote against anything the teacher’s union, fire and police union supports as well.

I tend to vote with the Taxpayer advocate groups…

[joec]

I’ve started to now vote against anything the teacher’s union, fire and police union supports as well.

I tend to vote with the Taxpayer advocate groups…

[joec]

I’ve started to now vote against anything the teacher’s union, fire and police union supports as well.

I tend to vote with the Taxpayer advocate groups…

[joec]

I’ve started to now vote against anything the teacher’s union, fire and police union supports as well.

I tend to vote with the Taxpayer advocate groups…

[joec]

Another thing with sweat equity is does it make sense to instead just work harder or do overtime at your current job if you make a decent living instead of spending the time to do the sweat equity yourself?

My dad was decently paid in his profession and never did a lot of stuff around the house himself. Just do a week of overtime and that pretty much pays for any sweat equity you had to use time on.

Another point is why compete with folks who has the sweat equity? Focus on skills you have and let someone else go hog wild on these fixers…At least that’s what a lot of these buyers think.

Probably true for a lot of the dual income professionals you see buying in places like Scripps Ranch, Del Sur, 4S…

[joec]

Another thing with sweat equity is does it make sense to instead just work harder or do overtime at your current job if you make a decent living instead of spending the time to do the sweat equity yourself?

My dad was decently paid in his profession and never did a lot of stuff around the house himself. Just do a week of overtime and that pretty much pays for any sweat equity you had to use time on.

Another point is why compete with folks who has the sweat equity? Focus on skills you have and let someone else go hog wild on these fixers…At least that’s what a lot of these buyers think.

Probably true for a lot of the dual income professionals you see buying in places like Scripps Ranch, Del Sur, 4S…

[Author]

Posts