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Home Selling in 95051 : Real Estate Advice

  • All79
  • Local Info3
  • Home Buying49
  • Home Selling6
  • Market Conditions3

Activity 6
Sun Dec 20, 2015
Ruth and Perry Mistry answered:
Hi Cliff

I believe you are referring to the $500k exclusion, if married and lived in the house
For more than two years, or the $250k exclusion if single.

capital gains in excess of the above limits, based on whether married or single will
Be taxed at Long Term Capital gains rates, based on your income level.

http://www.fool.com/how-to-invest/personal-finance/taxes/2015/08/16/long-term-capital-gains-tax-rates-in-2015.aspx

However, do check and verify with your CPA.

If you rent the property out for more than two years the property will be treated as an income property
And you will be taxed on any and all Capital gains.

Due to a strong economy and the fact that both Apple and Google have huge expansion plans in Sunnyvale, I believe that the Santa Clara home and rents will continue to go up, due to
Higher demand for housing.

Do call if you have further questions.

Good luck.
Perry
408-898-1948
... more
0 votes 4 answers Share Flag
Sun Jul 6, 2014
Robert Lei answered:
Yes, true. There is a huge residential complex in Santa Clara near Central Park in the location tracking device.

Property prices in Santa Clara have risen since your first post,
0 votes 2 answers Share Flag
Thu Dec 5, 2013
JR Thrasher answered:
Not only is there a longer closing time but the buyer and their contractor have to be on top of their game. If there is an unrealistic expectation and the buyer or the contractor go outside of the guidelines it could kill the deal.

J.R. Thrasher
www.SanDiegoRealEstateVeterans.com
619-929-0105
... more
0 votes 3 answers Share Flag
Sun May 6, 2012
Robert Lei answered:
Hi Need2sell,
Values have gone up since your initial question in Sep 2011. If you are still considering selling, I can do some analysis on your property to see if you would still need $35k cash to close it.

Robert Lei
Century 21 M&M and Associates
(408) 893-2410
... more
1 vote 12 answers Share Flag
Sun May 6, 2012
Robert Lei answered:
You picked a great time to sell !! Congratulations.
0 votes 27 answers Share Flag
Tue May 4, 2010
Jen E. Smith asked:
Hi,

2010 has done me in (dh lost job, revenue going down, etc). I am currently in the process of finding qualified agents to help me short sale a condo hotel in Las Vegas. I would want…
0 votes 0 Answers Share Flag
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