Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Market Conditions in 89141 : Real Estate Advice

  • All18
  • Local Info1
  • Home Buying8
  • Home Selling0
  • Market Conditions6

Activity 6
Thu Feb 12, 2015
Lovely Prescott answered:
Recent update feb. 12, 2015:
Currently there are a little over 200 listings for sale which shortsale are only (15), foreclosure(6) . The rest are traditional There are approx 9,500 homes located here in Southern highlands. Median Price range is $321,000. Average days on market is 139 days. Recent price decrease on listing avaialble is 28% means homes listed are over priced and it is why average days on market is about 5 months. Avg bedroom 4 bed. Seller's advantage in the market is 31%. In the whole las vegas price is up 16%. Hope this helps

Call me or email me for the report:
Lovelyp@realtyonelv.com
direct:702-569-8800
Text 1ZPL to 87778 for my free mobile app to search all listings
... more
0 votes 7 answers Share Flag
Thu Dec 1, 2011
Rena Levy answered:
Hello buyer,
since your partner is a foreign buyer,the property falls under the FIRTA tax withholding. what dose this mean to you? when you are ready to sell the property, the title company will hold 10% of the total sale price
(not profit), and send to IRS until all taxes are paid and filed by accountant to the IRS. Usually it takes around three month to receive the remaining balance check from IRS. also depending on your agreement with your partner and % share.
I would contact your real estate agent or CPA or the title company. Also it would be in your best interest to make sure that all taxes are paid and withhold at trust account until all taxes are filed and paid.
My specialty is foreign national investors who are buying in the U.S.A. if you need any further assistance, please call me at 702-612-7099

Withholding of Tax on Dispositions of United States Real Property Interests

The disposition of a U.S. real property interest by a foreign person (the transferor) is subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) income tax withholding. FIRPTA authorized the United States to tax foreign persons on dispositions of U.S. real property interests. A disposition means “disposition” for any purpose of the Internal Revenue Code. This includes but is not limited to a sale or exchange, liquidation, redemption, gift, transfers, etc. Persons purchasing U.S. real property interests (transferees) from foreign persons, certain purchasers' agents, and settlement officers are required to withhold 10 percent of the amount realized on the disposition (special rules for foreign corporations). In most cases, the transferee/buyer is the withholding agent. If you are the transferee/buyer you must find out if the transferor is a foreign person. If the transferor is a foreign person and you fail to withhold, you may be held liable for the tax. For cases in which a U.S. business entity such as a corporation or partnership disposes of a U.S. real property interest, the business entity itself is the withholding agent.

guideline.http://www.irs.gov/businesses/small/international/article/0,,id=105000,00.html

Rina levy
Broker/Associate
world-wide real estate investments
702-612-7099
cvegashomes@gmail.com
... more
0 votes 5 answers Share Flag
Sat Oct 23, 2010
Damon Botticelli answered:
Nevada does not have state income tax. Scott mentioned the transfer tax when selling a property, but got the decimal in the wrong place...it's 0.51% not 5.1%.

Still, you should speak to a cpa. I expect they'll tell you the best place to "claim" residency is where you live most of the year. I work closely with a cpa who can advise. I suggest a free consult for some tax planning before you make any decisions. ... more
0 votes 4 answers Share Flag
Thu Oct 21, 2010
Renee Burrows answered:
Comps are always a good start!

It is typical for servicers to have this "hurry up and wait" attitude (we get to wait then you get to hurry). If homes are selling currently at $115K then yes, it's a good deal. If homes are selling for less than $115K, not so good. Make sure you add all the extra fees you are paying to that $115K amount.

Below is a tutorial on public searching for comps.
... more
0 votes 8 answers Share Flag
Mon Oct 4, 2010
Christopher Pagli answered:
Hi, the answer depneds on how long you plan to own the home. You have to figure out your overall costs and subtract the rent you will receive. Figure out how many years it will take to make your money back. Factors such as the underlying economic condition of the area, amenities, and typical appreciation rates, are all very important when deciding if something is a good investment.

Sincerely,

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
Legends Realty Group
914.406.9023
... more
0 votes 16 answers Share Flag
Tue Aug 17, 2010
Megan Trumbauer answered:
How to Invest in Properties

For the past 10 years, it has been a very profitable activity to invest in property. Plenty of investors have been rewarded from buying flats to industrial parks. And even if the residential and commercial property markets tumbled in the last 12 months, there’s still a lot of profit to gain if you’re willing to choose your investments carefully. Here are things to get you started:

1. Good Planning – in any investment, you should think it thoroughly before jumping into one. For example, do you plan to keep your property longer or only for a short period of time? If you will keep it for more than 20 years, you would have to spend more on improvements, repairs, and maintenance compared to keeping it only for five years. Therefore, make sure that you can recover your investment during this period before you transfer it to another owner.

2. Develop a Network – if you want to generate profit from property investments, you would benefit from networking with a lot of people. You can always have friends in the bank or city hall to hunt for foreclosures. It’s also good to know plenty of real estate agents who always keep their eyes open for better deals.

Read the full article: http://www.openmarketrealty.com/blog/how-to-invest-in-properties/
... more
0 votes 4 answers Share Flag
Search Advice
Search

Followers

677