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Home Selling in Saratoga : Real Estate Advice

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Activity 6
Tue Feb 24, 2015
Sam Shueh answered:
Are they just permitted and county tax records show as such?
Having a city permit often get missed out on the county tax records.

Sam Shueh
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Wed Aug 22, 2012
John Arendsen answered:
There's absolutely nothing wrong with pre fab, factory built homes today. If it's a "Prefab" or "Modular" built on a stemwall foundation the appraiser has to use conventional site built homes in the immediate area as comps.

If the home is a "HUD Manufactured Home" they must use comps from other HUD homes usually within at least a 10mi radius. This can often times be difficult depending on where the home is located. However, it shouldn't impact the value of the home that much unless it's a "Pre HUD", built before June 15, 1976, in which case there would be very little value to the MH and the focus would then be place on the property and other amminities.
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Tue Oct 19, 2010
Cameron Novak answered:
It stands to reason that since the definition of a rental house is one you don't occupy, AND you weren't living in it.... you probably shouldn't try to claim it as your primary residence for tax purposes.

In addition to being illegal, karma will chase you down and run you over <-- Remember this 36 months from now.

Good luck in making the right decision
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Mon Oct 18, 2010
Michelle Carr-Crowe answered:
In addition to consulting a tax pro, you need to keep scrupulous records. While the 24 months of the 2 years need not be consecutive, you can't simultaneously claim another home for the same months. The IRS verifies this with your tax returns-whatever home you claim on your return as primary residence is the one you can claim for the exemption. ... more
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Wed Aug 19, 2009
Sam Shueh answered:
That depends. The simplest argument is:
L1: 1.2 mil L2: 1.8 L3: 1.6
S1: 1.6 mil S2: 1.8 and S3(foreclosed) for 0.85 mil only (worth 1.3 mil)
assuming they are all equal arm length transaction, the subject of interest
loses (1.55-1.475)/1.55=4.8% quantitatively
... more
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