Advice for home buyers Here are 50 real estate terms you should know by Scot Campbell | Broker | Realtor | 714-336-0394 | Whether a home buyer, home seller, investor, or Realtor, there are some words and phrases that frequently crop up. With the help of Inman News and 30+ years in the industry, I chose 50 terms to create an easy-to-use glossary you’ll return to again […]
Advice for home owners CALIFORNIA CAPITAL GAINS TAX RULES real estate investors and homeowners should know before selling By Scot Campbell, Broker | Coldwell Banker-Campbell Realtors | | 714-336-0394 In March 2022, writer Jeff White wrote an interesting article which was published in Seeking Alpha.  I read the article recently and made some notes… below are the interesting points and examples I organized for your consideration while I was reviewing the article. […]
Advice for home owners STEP-UP IN BASIS: What It Is & How Does It Apply to Real Estate By Scot Campbell, Broker | Coldwell Banker-Campbell Realtors | | 714-336-0394 According to an informative article written by Kimberlee Leanard in Seeking Alpha, a “step-up in basis” is an adjustment to the value of appreciated assets upon inheritance. It is important to understand the rationale for this rule and how it impacts investment real […]
Advice for home owners RESIDENTIAL INSTALLMENT SALES… Who should consider this type of a home sale?  INSTALLMENT SALES ARE FOR HOMESELLERS WHO WANT TO REDUCE CAPTIAL GAINS TAXES AND DESIRE RELIABLE MONTHLY INCOME AFTER THE CLOSE:  For years, sellers of real estate have used Installment Sales (seller carry back financing) to reliably collect income after selling a property… they also did it to defer and minimize capital gains taxes. When rates […]
Advice for home owners WHAT CAN HOMEOWNERS FACING A BIG CAPITAL GAIN TAX LIABLITY DO TO “Sensibly Make a Move” ? What can a capital gain tax conscious homeowner do to sensibly “make a move” when their Highly Appreciated home is no longer consistent with their lifestyle or budget? Real Estate Marketplace Observations by Scot Campbell – Real Estate Broker Background: The sale of a significantly appreciated personal residence often requires the payment of substantial capital […]
Advice for home owners WHAT IS IRS SECTION 121 and How is it applicable to the sale of your home? The Section 121 Exclusion is an IRS rule that allows you to exclude from taxable income a gain of up to $250,000 from the sale of your principal residence. A couple filing a joint return gets to exclude up to $500,000. To get the exclusion a taxpayer must own and use the home as their main […]
Advice for home owners HOW PROPOSITION 19 affects property taxes on inherited property In California, parents or grandparents may transfer their primary residence to their children or grandchildren without the property’s tax assessment resetting to market value. However, Proposition 19 only provides exemption from tax reassessment when the transferred property was the primary residence of the qualifying parent(s) or grandparent(s) and the child or grandchild continues to occupy […]
Advice for home owners STATE OF CALIFORNIA PROP 19 Q&A California Assn of Realtors | Prop 19 Q&A How does Proposition 19 benefit California’s housing market, provide tax savings for homeowners and create new homeownership opportunities? Homeowners who are 55+ or severely disabled can transfer the property tax base of their existing home to another home anywhere in California, regardless of price, to be closer […]
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