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SD Realtor
Participant11294 is a short sale so the sellers will get hammered. They purchased for 750k at the top of the market.
11224 purchased for 305k in 1999.
SD Realtor
ParticipantRadelow how did it go this weekend? How did the home look?
SD Realtor
ParticipantRadelow how did it go this weekend? How did the home look?
SD Realtor
ParticipantI “believe” that the property tax is always payed by whoever is on the deed. When a property changes title after a trustee sale the new owner (lender) I “believe” would then be responsible for the property taxes.
I am not an expert on how lenders make their books look better by holding non performing assets verses releasing them to the open market so I don’t have an answer to that question. I kind of agree with where you are going with this but my only guess is that lenders don’t want to start a landslide by releasing all of the properties…
Input from anyone in loss mitigation from some of the lenders would be useful.
SD Realtor
ParticipantI “believe” that the property tax is always payed by whoever is on the deed. When a property changes title after a trustee sale the new owner (lender) I “believe” would then be responsible for the property taxes.
I am not an expert on how lenders make their books look better by holding non performing assets verses releasing them to the open market so I don’t have an answer to that question. I kind of agree with where you are going with this but my only guess is that lenders don’t want to start a landslide by releasing all of the properties…
Input from anyone in loss mitigation from some of the lenders would be useful.
SD Realtor
ParticipantI had a listing in April of 06 and the buyers were represented by an I Pay One agent. She was an ex Prudential agent and the transaction was quite smooth and she was very professional.
SD Realtor
ParticipantI had a listing in April of 06 and the buyers were represented by an I Pay One agent. She was an ex Prudential agent and the transaction was quite smooth and she was very professional.
SD Realtor
ParticipantHi Counselor –
The home that closed for 703.5k was originally sold for (drum roll please) 285k back on 9/20/99. Yeah I would say that the seller did okay. Looks like he pulled out some cash along the way but it seems he still did okay.
SD Realtor
ParticipantHi Counselor –
The home that closed for 703.5k was originally sold for (drum roll please) 285k back on 9/20/99. Yeah I would say that the seller did okay. Looks like he pulled out some cash along the way but it seems he still did okay.
SD Realtor
ParticipantYes I figured you would be loving this sdr. I will let the rest of the board comment and bite my tongue instead of responding anymore. The more I keep posting the more I feel like I am working for NAR. Hopefully your brokerage be able to eeek out an existence as the market changes.
SD Realtor
ParticipantYes I figured you would be loving this sdr. I will let the rest of the board comment and bite my tongue instead of responding anymore. The more I keep posting the more I feel like I am working for NAR. Hopefully your brokerage be able to eeek out an existence as the market changes.
SD Realtor
ParticipantAnother note to add… most of those pretty sold pins are people who are floating the rate. If the 10 year runs up then it is possible that a some of those sold pins will become available again.
SD Realtor
ParticipantAnother note to add… most of those pretty sold pins are people who are floating the rate. If the 10 year runs up then it is possible that a some of those sold pins will become available again.
SD Realtor
ParticipantScruffy –
El Jefe was 110% correct on the 5 year holding period designated in 2004. So 2 out of those 5 you need to occupy to get the exemption.
So I am an engineer and I am a Realtor. I am not a CPA or an accountant so my first disclaimer is talk to your CPA regarding the tax laws. With that said, the IRS will recapture the depreciation for your property for every year you did not occupy it REGARDLESS of whether you applied a depreciation expense to it or not. So when the 1031 event occurs, you need to adjust your original basis. This will predictably create a larger tax burden for you. Thus, if you bought a 500k property 5 years ago, and now you buy another 500k property it will not be an equal value exchange. The IRS will recapture 5 years worth of depreciation to the first property so you will actually have a deferred tax gain that you will shelter by purchasing the next property.
Again, confirm this with a CPA… confirm this with a CPA… confirm this with a CPA…
Anyways, I think there are good ideas presented here but like I said, I would confer with your financial planner. That is why I am not making any recommendations at all. While some of the ideas may present a better return then others, you may have tradeoffs of how involved you will need to be to get that return that should be considered. So be open minded, measure all the different proposals and bring them up to your planner.
SD Realtor
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