News about properties and real estate
Section 1031 deals have strict guidelines Question: When you sell a duplex where you live in one unit and the other unit is a rental, do you have to do a 1031 tax-deferred exchange or would part of the duplex be classified as a personal residence? Answer: The short answer is “yes.” Under tax law, …
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Home equity: Owners see it as a gold mine Forget debt consolidation. Never mind the remodel. Some Southern California homeowners, flush with home equity, are using the American Dream to finance the Hollywood one: Make a movie. And much more. The stack of cash that property holders accumulated during the past few years by virtue …
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Many megamansions for sale, but nobody’s buying It’s the ultimate trophy property: A 29,000-square-foot spread on Biscayne Bay with 13 bedrooms, a gun room, fingertip identity-scanners, and, for privacy from gawkers on passing boats, a machine that shrouds the backyard in mist. Yet several years after putting the home on the market, no one has …
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The Bronx: So Close … Outsiders Tiptoe Into the South Bronx At 168th Street and Nelson Avenue in the South Bronx, you can look 134 blocks downtown and see the upper third of the Empire State Building pop up unexpectedly like a silvery beacon. So close to Manhattan, and yet so far away. On that …
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Boom May Be Spilling Over To More Affordable Housing Markets Estacada, an isolated community of 2,500 residents, 25 miles southeast of the booming Portland real estate market, is on tap to build 450 homes this year with another 1,000 lots likely to be approved in the next few years. In West Virginia, home sales soared …
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Tips on handling foreclosure and pre-foreclosure situations Dear Bob: Our house is in the foreclosure process. Due to my husband’s unemployment and disability, we can’t afford the mortgage payments and are now two months behind. We have received several offers from investors who want to buy our house. And we want to sell because chances …
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