Dealing with Seller Financing in a 1031 Exchange…

Investors who decide to carry a  note on the sale of their investment property have a few options  if they are also doing a 1031 Exchange.

1. Do not include the note in the exchange. If the note is not included in the exchange, taxes will be payable using the installment method of accounting.
2. Include the note in the exchange and defer taxes owed.

With option #2, investors have several alternatives for attempting to use the note as part of the exchange. It is important that Asset Exchange Company be named as the beneficiary of the note in order to avoid any constructive receipt issues.  The alternatives available include:

1. Use the note as consideration for the replacement property.
2. Replace the note with cash.

•     “Buy” the note with your own cash
•      Sell the note on the secondary market
•     Have the note paid off prior to close of escrow

Seller financing can be an attractive option in today’s market.

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The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 56% [?]

My friend at Asset Exchange Company send me some interesting update that I thought you might be iterested in. They offer $499 Delayed Exchange Services and a Free 1031 Exchange Hotline: 877-471-1031 .

IRS Scrutiny into 1031 Exchanges…

If you are considering conducting a 1031 Exchange, make sure you work with Asset Exchange Company to ensure it is done right. The IRS is planning on increasing audits and enforcement of 1031 Exchanges by summer of 2008. 

In a report issued last month, the Treasure inspector general for tax administration wrote: “There appears to be little IRS oversight of the capital gains (or losses) deferred through like-kind exchanges.”  The inspector general made three specific recommendations, all of which have been accepted by the IRS:

• The IRS should study tax reporting and compliance issues involved with like-kind exchanges. The IRS agreed to conduct research and complete the work by Aug. 15, 2008. Based on the outcome of this research, it appears likely that exchanges that take place this year will receive greater scrutiny.
• The IRS should provide better information and guidance to taxpayers on how to conduct a proper 1031 exchange. The IRS has agreed that by Jan. 15, 2008, it will provide more information on a number of publications and forms to help taxpayers understand how the exchange process works. Specifically, Publication 17, Your Federal Income Tax will be updated to specifically remind taxpayers that they must file Form 8824 with their returns if they have been involved in 1031 exchanges in the previous year.
• The IRS must provide clear guidance to taxpayers on the rules and regulations of like-kind exchanges with respect to second homes that were not used exclusively by owners.

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For instant MLS search click here. 

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The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 22% [?]

Historically, Real Estate Has Been a Solid, Long Term Investment. Looking at the last 40 years of real estate in California, we have seen very few times in which real estate values have dropped. In fact, according to the California Association of Realtors, since 1970 the real estate market in California has only dropped seven times, six times under 3.7% and only once at 4.5%. On the contrary, our market has seen remarkable growth. In 1970, the median cost of a singlefamily home in California was $26,000. Today, 37 years later, homes have seen a 2,165% increase, now selling for $588,970.

Historically, Santa Clara County Has Enjoyed Even Stronger Success. According to the California Association of Realtors, in 1989 the median price of a single-family home in Santa Clara County was $246,847. Today, just 18 years later, that same single family home is selling for $860,000 - a 248% increase. Certainly in recent months we have seen a shift from a seller’s market to a buyer’s market but that switch was necessary to continue a healthy flow of exchange amongst buyers and sellers. The bottom line is that our economy couldn’t maintain the double digit increases we saw in home prices in 2003 and 2004 without seeing a shift. If we continued to see an upstream of that magnitude we would nearly eliminate the first-time home buyers which could potentially drastically hinder our economy. Shifts in our market are what keep our economy running smoothly.Housing Crisis or Opportunity? Only history will show.

Is Now the Time to Buy? Now may be the time to buy: mortgage rates remain low (certainly by historical standards), prices have stabilized and there is a large selection of homes to choose from. Certainly it makes a more exciting news story for journalists to dwell on the negative, but for smart consumers it is definitely more economically advantageous to seize opportunities as they present themselves. And this market may offer some tremendous opportunities. While no one can predict the future, if history is any indication, then real estate over the long run will continue to be a solid investment. And that’s good news for everyone - buyers, sellers and the real estate industry. If you are ready to make an informed and educated decision about real estate, please contact me today. I would be happy to help you.

http://www.realtoramir.com/

For instant MLS search click here. 

For an automated MLS search click here. 

The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 35% [?]

My coworker and Realtor friend Mrs. Quinn Huang has just put a beautifully remodeled “Rhonda Villa” end-unit with single level floorplan and Cupertino Schools on the market for $ 769,888. I would love to be the buyer’s agent for this town home. The special features of this great place are:

• Single-Story End Unit with No Common Walls
• Built in 1973
• 3 Bedrooms, 2 Bathrooms
• Living Area Approximately 1,144 Sq.Ft. (Per County Assessor’s OHice)
• Lot Size Approximately 2,280 Sq.Ft. (Per County Assessor’s OHice)
• Tiled Entry
• Living room has Built-in Display Shelving,
• High Ceilings, Access to Large Backyard and Fireplace
• Remodeled Gourmet Kitchen with Corian Countertops, Tile Floor
• Sunny Skylights in Bathrooms
• Built-in Bookshelves in 3rd Bedroom- Ideal as an Office
• Double Pane Windows
• 2-Car Attached Garage
• HOA $31 O/mo. Includes Swimming Pool and Clubhouse
• Walking Distance to Shopping, Dining, Starbucks and Serra Park
• EXCELLENT CUPERTINO SCHOOLS
• WEST VALLEY ELEMENTARY

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For instant MLS search click here. 

For an automated MLS search click here. 

The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 28% [?]

Office of Councilwoman Nancy Pyle sent me this email that I would like to share with you. 

Join a very special event in district 10 of San Jose, California, brought to you by the San Jose Police Foundation. This Saturday, October 27th 2007  from Noon to 5 P.M. join the San Jose Police Foundation at the Petco Store at 886 Blossom Hill Road (across from Westfield Oakridge Mall) and have your picture taken with a police dog from the San Jose P.D. Canine Unit.

Donations to the San Jose Police Foundation are encouraged and will be used to purchase bullet proof vests for the police dogs in the canine unit and other needed equipment for the Police Department.

Please remember to bring your camera!

For more information contact: scottcornfield@gmail.com
  
City of San José, District 10 - Office of Councilwoman Nancy Pyle.

408-535-3500

San José City Hall
200 East Santa Clara St.
San Jose, CA 95113

“Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did do. So throw off the bowlines, sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” Mark Twain

http://www.realtoramir.com/

For instant MLS search click here. 

For an automated MLS search click here. 

The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 21% [?]

WaMu CALHFA ™

News Bulletin

Acorn vs. CALFHA

Acorn reduced their Maximumm Qualified Income for the entire Acorn program for Northern California

It is now 80% of the county HUD/FannieMae Median Income. It was 140% of the Median Income and has been reduced by 60 points! Maximum income allowed was $ 104,30, Maximum income now allowed is $ 59,600. A 43% reduction in allowable income.

WaMu CALHFA loans have a better position with clients than the Acorn loans based on this reduction.

Now the question is do you qualify for CALHFA’s First time Home buying program? Contact Carma J. Van Houten at 408-399-4274 to find out.

Popularity: 27% [?]

This part of west San Jose is a prime choice for many buyer’s who want to live in the Cupertino School District but want more house for their money. Homes in this area are much cheaper than Cupertino Real Estate.  The public elementry school for this home is Country Lane Elementary of Moreland Elementary school district.  The public elementry school for this home is Prospect High School of  Campbell Union High School district.

Map & Driving directions	Mortgage Calculator	Vicinity schools	Weather
Census Data	Community Information	City Info	Neighborhood Profile

CUPERTINO CA REAL ESTATE MARKET UPDATE:

There are 79 Single family homes available in Cupertino with an average price of $1,457,000. The minimum price home in CUPERTINO REAL ESTATE IS $749,000 and highest priced home in CUPERTINO REAL ESTATE IS $4,995,000.

http://www.realtoramir.com/

For instant MLS search click here. 

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The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Here are the most reacent active, pending and sold listings in this area of SAN JOSE REAL ESTATE. 

Status  Street Address  City Orig List Price Sale Price  Beds  Baths  Bldg SqFt
            
1-Active , 4645 WINDING WY , SAN JOSE REAL ESTATE $899,950  ( 4 , 2 ) 1568
4-PendingDoNotShow , 799 BROADMOOR DR , SAN JOSE REAL ESTATE $829,000  ( 3 , 2 ) 1147
5-Sold , 4580 CATALINA DR , SAN JOSE REAL ESTATE $839,000 $875,000 ( 3 , 2 ) 1452
3-PendingWithoutRelease , 5080 ENGLEWOOD DR , SAN JOSE REAL ESTATE $945,000  ( 4 , 2 ) 1585
1-Active , 855 SARATOGA AV , SAN JOSE REAL ESTATE $895,000  ( 3 , 2 ) 1107
5-Sold , 4703 BLANCO DR , SAN JOSE REAL ESTATE $820,000 $850,000 ( 3 , 2 ) 1645
3-PendingWithoutRelease , 4454 VENICE WY , SAN JOSE REAL ESTATE $849,999  ( 3 , 2 ) 1404
5-Sold , 4738 ELMHURST DR , SAN JOSE REAL ESTATE $739,000 $745,000 ( 3 , 2 ) 1107
5-Sold , 5194 RHONDA DR , SAN JOSE REAL ESTATE $699,000 $860,000 ( 3 , 2 ) 1608
5-Sold , 5263 LASSEN AV , SAN JOSE REAL ESTATE $875,000 $875,000 ( 3 , 2 ) 1544
5-Sold , 1010 DEL CAMBRE DR , SAN JOSE REAL ESTATE $928,800 $950,000 ( 5 , 3 ) 2042
5-Sold , 5131 COUNTRY LN , SAN JOSE REAL ESTATE $699,950 $730,000 ( 3 , 2 ) 1383
5-Sold , 4388 STRAWBERRY PARK DR , SAN JOSE REAL ESTATE $714,950 $715,000 ( 3 , 2 ) 1107
5-Sold , 1151 CORDELIA AV , SAN JOSE REAL ESTATE $1,150,000 $1,080,000 ( 3 , 3 ) 2009
5-Sold , 1132 BEAUMONT DR , SAN JOSE REAL ESTATE $879,000 $885,000 ( 4 , 2 ) 1607
5-Sold , 1205 MARILLA AV , SAN JOSE REAL ESTATE $898,888 $960,000 ( 3 , 3 ) 1659
5-Sold , 5162 PARKFIELD AV , SAN JOSE REAL ESTATE $769,000 $771,000 ( 3 , 2 ) 1323
5-Sold , 1104 DEL CAMBRE DR , SAN JOSE REAL ESTATE $958,000 $970,000 ( 4 , 3 ) 1880
5-Sold , 5066 DOYLE RD , SAN JOSE REAL ESTATE $2,250,000 $2,200,000 ( 4 , 4+ ) 4227
5-Sold , 953 AMSTUTZ DR , SAN JOSE REAL ESTATE $989,000 $1,019,000 ( 4 , 2 1/2 ) 2090
5-Sold , 5143 SHADY AV , SAN JOSE REAL ESTATE $938,888 $985,000 ( 3 , 2 ) 1548
5-Sold , 1477 GREENE DR , SAN JOSE REAL ESTATE $925,000 $980,000 ( 4 , 2 ) 1758
5-Sold , 4696 CLARENDON DR , SAN JOSE REAL ESTATE $874,950 $950,000 ( 3 , 2 ) 1365
5-Sold , 719 BROADMOOR DR , SAN JOSE REAL ESTATE $775,000 $815,000 ( 3 , 2 ) 1324
5-Sold , 1489 ENGLISH DR , SAN JOSE REAL ESTATE $949,900 $949,000 ( 3 , 2 ) 1441
5-Sold , 1509 CRESPI DR , SAN JOSE REAL ESTATE $858,888 $830,000 ( 3 , 2 ) 1433
5-Sold , 5129 RHONDA DR , SAN JOSE REAL ESTATE $998,888 $950,000 ( 3 , 2 ) 1400
5-Sold , 1662 ENGLISH CT , SAN JOSE REAL ESTATE $995,000 $924,000 ( 3 , 2 ) 1441
5-Sold , 4653 BORINA DR , SAN JOSE REAL ESTATE $799,000 $815,000 ( 3 , 2 ) 1322
5-Sold , 984 SWEET AV , SAN JOSE REAL ESTATE $895,000 $820,000 ( 3 , 2 ) 1458
5-Sold , 1110 DEL CAMBRE DR , SAN JOSE REAL ESTATE $920,000 $950,000 ( 4 , 2 ) 1607
5-Sold , 4484 PIPER DR , SAN JOSE REAL ESTATE $799,999 $930,000 ( 3 , 2 ) 1500
5-Sold , 4230 BELVEDERE DR , SAN JOSE REAL ESTATE $719,000 $715,000 ( 3 , 2 ) 1107
5-Sold , 1535 TERESITA DR , SAN JOSE REAL ESTATE $879,000 $975,000 ( 4 , 2 ) 1570
5-Sold , 4566 MOORPARK AV , SAN JOSE REAL ESTATE $639,000 $700,000 ( 3 , 2 ) 1107
5-Sold , 4626 CATALINA DR , SAN JOSE REAL ESTATE $890,000 $870,000 ( 4 , 3 ) 1704
5-Sold , 4886 BLUE RIDGE DR , SAN JOSE REAL ESTATE $868,000 $924,451 ( 3 , 2 ) 1400
5-Sold , 4880 BELA DR , SAN JOSE REAL ESTATE $749,000 $834,000 ( 3 , 2 ) 1146
5-Sold , 1220 PRISCILLA DR , SAN JOSE REAL ESTATE $790,000 $795,100 ( 3 , 2 ) 1346
5-Sold , 912 CERA DR , SAN JOSE REAL ESTATE $799,950 $835,000 ( 3 , 2 ) 1371
5-Sold , 4656 CLARENDON DR , SAN JOSE REAL ESTATE $799,000 $808,000 ( 3 , 2 ) 1365
5-Sold , 4984 RHONDA DR , SAN JOSE REAL ESTATE $879,950 $960,000 ( 4 , 2 ) 1585
5-Sold , 1561 LYLE DR , SAN JOSE REAL ESTATE $858,800 $959,680 ( 3 , 2 ) 1280
5-Sold , 4536 WINDING WY , SAN JOSE REAL ESTATE $888,000 $900,000 ( 4 , 2 ) 1568
5-Sold , 4696 ELMHURST DR , SAN JOSE REAL ESTATE $675,000 $720,000 ( 3 , 2 ) 1226
5-Sold , 1080 BEAUMONT DR , SAN JOSE REAL ESTATE $849,950 $850,000 ( 4 , 2 ) 1683
5-Sold , 4668 STRAWBERRY PARK DR , SAN JOSE REAL ESTATE $679,950 $730,000 ( 3 , 2 ) 1107
5-Sold , 1117 DEL CAMBRE DR , SAN JOSE REAL ESTATE $849,950 $913,000 ( 4 , 2 ) 1607
5-Sold , 1502 CONSTANSO WY , SAN JOSE REAL ESTATE $876,000 $869,000 ( 3 , 2 ) 1780
5-Sold , 847 PINEWOOD DR , SAN JOSE REAL ESTATE $689,950 $680,000 ( 3 , 1 ) 1100
5-Sold , 952 ROCKDALE DR , SAN JOSE REAL ESTATE $739,000 $739,000 ( 3 , 2 ) 1382
5-Sold , 4476 PIPER DR , SAN JOSE REAL ESTATE $785,000 $841,500 ( 3 , 2 ) 1333
5-Sold , 4773 BLANCO DR , SAN JOSE REAL ESTATE $849,950 $905,000 ( 3 , 2 ) 1607
5-Sold , 4443 VENICE WY , SAN JOSE REAL ESTATE $829,888 $829,888 ( 3 , 2 ) 1476
5-Sold , 4654 MOORPARK AV , SAN JOSE REAL ESTATE $629,000 $650,000 ( 3 , 2 ) 1107
5-Sold , 1205 HAPPY VALLEY AV , SAN JOSE REAL ESTATE $1,495,000 $1,385,000 ( 4 , 4+ ) 2879
5-Sold , 4578 ELMHURST DR , SAN JOSE REAL ESTATE $775,000 $790,000 ( 3 , 2 ) 1666
5-Sold , 4257 BORINA DR , SAN JOSE REAL ESTATE $698,888 $715,000 ( 3 , 2 ) 1270
5-Sold , 830 Rockwood DR , SAN JOSE REAL ESTATE $810,000 $780,000 ( 3 , 2 ) 1799
5-Sold , 4514 PIPER DR , SAN JOSE REAL ESTATE $789,000 $775,000 ( 3 , 2 ) 1260
5-Sold , 1030 MARILLA AV , SAN JOSE REAL ESTATE $849,888 $830,000 ( 3 , 2 ) 1660
5-Sold , 5212 EILEEN DR , SAN JOSE REAL ESTATE $999,000 $1,010,000 ( 4 , 2 1/2 ) 2091
5-Sold , 860 ROCKWOOD DR , SAN JOSE REAL ESTATE $745,000 $745,000 ( 3 , 2 ) 1547
5-Sold , 1472 FERGUSON WY , SAN JOSE REAL ESTATE $739,000 $725,000 ( 3 , 2 ) 1075
5-Sold , 4655 APPLEWOOD DR , SAN JOSE REAL ESTATE $775,000 $790,000 ( 3 , 2 ) 1395
5-Sold , 4758 WILLIAMS RD , SAN JOSE REAL ESTATE $720,000 $695,100 ( 4 , 2 ) 1511
5-Sold , 789 BROADMOOR DR , SAN JOSE REAL ESTATE $698,000 $703,000 ( 3 , 2 ) 1226
5-Sold , 4373 VENICE WY , SAN JOSE REAL ESTATE $928,950 $772,719 ( 3 , 2 ) 1560
5-Sold , 4386 MANZANITA DR , SAN JOSE REAL ESTATE $729,900 $715,000 ( 3 , 2 ) 1107
5-Sold , 4657 BLACKFORD AV , SAN JOSE REAL ESTATE $775,000 $775,000 ( 3 , 2 ) 1507
5-Sold , 722 LIVE OAK WY , SAN JOSE REAL ESTATE $669,000 $663,000 ( 3 , 2 ) 1107
5-Sold , 1482 CAMEO DR , SAN JOSE REAL ESTATE $799,000 $769,000 ( 3 , 2 ) 1234
5-Sold , 5231 LASSEN AV , SAN JOSE REAL ESTATE $799,000 $770,000 ( 3 , 2 ) 1290
5-Sold , 996 AMSTUTZ DR , SAN JOSE REAL ESTATE $775,000 $762,500 ( 4 , 2 ) 1511
5-Sold , 4588 ELMHURST DR , SAN JOSE REAL ESTATE $838,888 $790,000 ( 3 , 3 ) 1675
5-Sold , 821 AURORA AV , SAN JOSE REAL ESTATE $699,000 $695,000 ( 3 , 1 ) 1100
5-Sold , 1601 LYLE DR , SAN JOSE REAL ESTATE $899,950 $818,000 ( 3 , 2 ) 1441
5-Sold , 4335 BELVEDERE DR , SAN JOSE REAL ESTATE $710,000 $665,000 ( 3 , 2 ) 1107
5-Sold , 787 LIVE OAK WY , SAN JOSE REAL ESTATE $759,000 $760,000 ( 3 , 2 ) 1226
5-Sold , 756 BROADMOOR DR , SAN JOSE REAL ESTATE $699,000 $665,000 ( 3 , 2 ) 1107

Popularity: 51% [?]

10170 East Estates Drive, Cupertino Real Estate, California

Popularity: 20% [?]

The single family home1165 FAIRFORD WY, San Jose 95129 just closed escrow for $ 1,164,000. This represents a 6.9% increase over the asking price. This neighborhood is one of the most popular neighborhoods in Cupertino Real Estate market. Even though the address is San Jose, the public schools for this home are:

Elem: Nelson S. Dilworth Elementary/ Cupertino Union School
Middle: Joaquin Miller Middle
High: Lynbrook High / Fremont Union High
 

Sale Prices
Minimum: $650,000.00 
Average: $1,231,409.00 
Median: $1,150,000.00 
Maximum:  $2,860,000.00  

List Prices  
Minimum: $3,000.00 
Average: $1,301,001.00 
Median: $1,198,888.00 
Maximum: $4,995,000.00 

The most recent 100 Single Family home transactions in West San Jose and Cupertino Real Estate market are as follow:

Status  Street Address  Orig List Price  Sale Price  Beds  Baths  Bldg SqFt  Lot Size  Age CDOM City 
                   
5-Sold , 1165 FAIRFORD WY , $1,090,000 => $1,164,000 ( 3 , 2 ) 1811 , 5663   6 San Jose  Real Estate
1-Active , 10201 AMELIA CT , $1,175,000 =>  ( 3 , 1 1/2 ) 1481 , 10890  60 6 Cupertino  Real Estate
5-Sold , 18745 LOREE AV , $775,000 => $710,000 ( 3 , 2 ) 1278 , 5227   68 Cupertino  Real Estate
1-Active , 10370 STERN AV , $1,450,000 =>  ( 4 , 3 1/2 ) 2457 , 5568   142 Cupertino  Real Estate
5-Sold , 7564 SHADOWHILL LN , $998,000 => $1,035,000 ( 3 , 2 ) 1190 , 5662   12 Cupertino  Real Estate
1-Active , 11518 MURANO CI , $1,249,000 =>  ( 3 , 2 1/2 ) 1788 , 1308   34 Cupertino  Real Estate
1-Active , 7548 BOLLINGER RD , $1,098,888 =>  ( 4 , 2 1/2 ) 1412 , 6500   31 Cupertino  Real Estate
1-Active , 1195 MILLER AV , $1,059,999 =>  ( 3 , 2 ) 1601 , 5662   28 San Jose  Real Estate
1-Active , 5080 ENGLEWOOD DR , $945,000 =>  ( 4 , 2 ) 1585 , 5662  48 23 San Jose  Real Estate
1-Active , 1467 TARTARIAN WY , $1,675,000 =>  ( 5 , 3 ) 3277 , 6000  22 20 San Jose  Real Estate
1-Active , 10540 WUNDERLICH DR , $788,000 =>  ( 3 , 1 ) 1006 , 6098  54 13 Cupertino  Real Estate
1-Active , 22560 KINST CT , $896,500 =>  ( 3 , 2 1/2 ) 1655 , 1742  19 9 Cupertino  Real Estate
3-PendingWithoutRelease , 21897 SHATTUCK DR , $1,350,000 =>  ( 4 , 3 ) 2119 , 7405  39 8 Cupertino  Real Estate
1-Active , 7635 ORANGE BLOSSOM DR , $1,626,000 =>  ( 4 , 3 ) 2257 , 6000  0 3 Cupertino  Real Estate
1-Active , 6072 RAINBOW DR , $1,049,000 =>  ( 4 , 2 ) 1607 , 6500  43 2 San Jose  Real Estate
1-Active , 20725 ACADIA CT , $1,298,000 =>  ( 3 , 2 ) 1845 , 7405  28 3 Cupertino  Real Estate
1-Active , 1590 DEERFIELD DR , $1,060,000 =>  ( 4 , 2 1/2 ) 1479 , 5662  45 1 San Jose  Real Estate
1-Active , 519 WAGMAN DR , $938,000 =>  ( 4 , 2 ) 1655 , 5662  42 1 San Jose  Real Estate
1-Active , 6832 DARTMOOR WY , $969,950 =>  ( 3 , 2 ) 1300 , 5662  49 1 San Jose  Real Estate
1-Active , 1053 JACQUELINE WY , $1,599,999 =>  ( 4 , 3 1/2 ) 2500 , 6969  51 20 San Jose  Real Estate
5-Sold , 1174 ELMSFORD DR , $1,348,888 => $1,248,980 ( 4 , 2 1/2 ) 2086 , 5662   30 Cupertino  Real Estate
1-Active , 21988 MCCLELLAN RD , $2,528,000 =>  ( 4 , 2 ) 916 , 22641   44 Cupertino  Real Estate
1-Active , 5621 ORA ST , $1,399,000 =>  ( 5 , 2 1/2 ) 2156 , 6098   45 San Jose  Real Estate
1-Active , 1282 POPPY WY , $1,998,000 =>  ( 4 , 3 1/2 ) 3012 , 7405  2 22 Cupertino  Real Estate
1-Active , 20730 DUNBAR DR , $1,688,000 =>  ( 5 , 4+ ) 3141 , 9125  13 49 Cupertino  Real Estate
4-PendingDoNotShow , 20960 GARDEN GATE DR , $2,048,000 =>  ( 5 , 4+ ) 3659 , 9291  0 13 Cupertino  Real Estate
1-Active , 4732 CASTLEWOOD DR , $886,000 =>  ( 3 , 2 ) 1456 , 5662  46 13 San Jose  Real Estate
1-Active , 7895 FIESTA LN , $1,288,000 =>  ( 3 , 4+ ) 2017 , 5662  47 10 Cupertino  Real Estate
1-Active , 10700 MERRIMAN RD , $1,999,000 =>  ( 6+ , 4+ ) 2765 , 10890  38 7 Cupertino  Real Estate
1-Active , 20925 JOLLYMAN LN , $1,898,000 =>  ( 5 , 3 1/2 ) 2873 , 7370  0 6 Cupertino  Real Estate
1-Active , 15681 MONTEBELLO RD , $3,700,000 =>  ( 4 , 4+ ) 0 , 2357902   168 Cupertino  Real Estate
1-Active , 20338 VIA PORTOFINO , $1,298,000 =>  ( 5 , 3 ) 2356 , 4791  11 58 Cupertino  Real Estate
3-PendingWithoutRelease , 10237 PRADO VISTA AV , $1,212,000 =>  ( 3 , 1 ) 1080 , 11761   7 Cupertino  Real Estate
4-PendingDoNotShow , 4580 CATALINA DR , $839,000 =>  ( 3 , 2 ) 1452 , 6534  50 7 San Jose  Real Estate
1-Active , 21885 OAKVIEW LN , $1,078,000 =>  ( 3 , 2 ) 1100 , 10625  52 9 Cupertino  Real Estate
1-Active , 1104 HYDE AV , $1,190,000 =>  ( 4 , 2 ) 1721 , 6969  41 22 San Jose  Real Estate
1-Active , 799 BROADMOOR DR , $829,000 =>  ( 3 , 2 ) 1147 , 7700  52 6 San Jose  Real Estate
4-PendingDoNotShow , 21912 ALMADEN AV , $1,360,000 =>  ( 3 , 2 ) 1746 , 4792   100 Cupertino  Real Estate
4-PendingDoNotShow , 10525 METEOR PL , $1,250,000 =>  ( 3 , 2 ) 1852 , 8276   19 Cupertino  Real Estate
1-Active , 10210 JOHNSON AV , $1,249,888 =>  ( 3 , 3 ) 2293 , 5100  0 23 Cupertino  Real Estate
1-Active , 1121 DANBURY DR , $1,075,000 =>  ( 6+ , 3 ) 1792 , 6534   33 San Jose  Real Estate
4-PendingDoNotShow , 1598 PROVINCETOWN DR , $1,188,000 =>  ( 4 , 2 1/2 ) 2297 , 6534  46 10 San Jose  Real Estate
1-Active , 22366 AINSWORTH DR , $1,300,000 =>  ( 3 , 2 ) 1451 , 10018  52 9 Cupertino  Real Estate
5-Sold , 10197 FINCH AV , $998,000 => $999,000 ( 3 , 2 ) 1691 , 11761   31 Cupertino  Real Estate
4-PendingDoNotShow , 10405 MORETTI DR , $769,900 =>  ( 3 , 1 ) 1342 , 5568  55 123 Cupertino  Real Estate
4-PendingDoNotShow , 7486 BOLLINGER RD , $998,000 =>  ( 4 , 2 ) 1306 , 5662   8 Cupertino  Real Estate
4-PendingDoNotShow , 1024 LANCER DR , $1,598,000 =>  ( 5 , 4+ ) 2810 , 6300   31 San Jose  Real Estate
5-Sold , 1109 HUNTERSTON PL , $1,088,000 => $1,068,000 ( 3 , 2 ) 1688 , 6098   9 Cupertino  Real Estate
5-Sold , 10273 NORWICH AV , $998,000 => $1,125,000 ( 3 , 2 ) 1550 , 7405   9 Cupertino  Real Estate
1-Active , 10276 ORANGE AV , $1,880,000 =>  ( 4 , 3 1/2 ) 2500 , 6250  0 21 Cupertino  Real Estate
4-PendingDoNotShow , 11101 CHADWICK PL , $1,498,000 =>  ( 4 , 3 ) 2119 , 7405  41 12 Cupertino  Real Estate
1-Active , 20915 JOLLYMAN LN , $1,898,000 =>  ( 5 , 3 1/2 ) 2882 , 7370  0 6 Cupertino  Real Estate
1-Active , 20905 JOLLYMAN LN , $1,898,000 =>  ( 5 , 3 1/2 ) 2873 , 7522  0 6 Cupertino  Real Estate
1-Active , 18868 HUNTER WY , $799,000 =>  ( 3 , 2 ) 932 , 5227   76 Cupertino  Real Estate
4-PendingDoNotShow , 877 LILY AV , $1,482,780 =>  ( 4 , 3 ) 2416 , 10018   58 Cupertino  Real Estate
1-Active , 10336 S STELLING RD , $1,875,800 =>  ( 6+ , 4+ ) 3559 , 11326  9 57 Cupertino  Real Estate
3-PendingWithoutRelease , 4454 VENICE WY , $849,999 =>  ( 3 , 2 ) 1404 , 6534   36 San Jose  Real Estate
3-PendingWithoutRelease , 10475 BEARDON DR , $1,049,000 =>  ( 3 , 1 ) 1008 , 9583  56 16 Cupertino  Real Estate
1-Active , 859 FERNGROVE DR , $829,000 =>  ( 4 , 2 ) 1432 , 6098  47 13 Cupertino  Real Estate
1-Active , 10605 GASCOIGNE DR , $729,000 =>  ( 3 , 1 ) 1048 , 5512   69 Cupertino  Real Estate
5-Sold , 5131 COUNTRY LN , $699,950 => $730,000 ( 3 , 2 ) 1383 , 6098   9 San Jose  Real Estate
5-Sold , 19717 AMHERST DR , $998,000 => $1,060,000 ( 3 , 2 ) 1550 , 6969   9 Cupertino  Real Estate
1-Active , 10376 MENHART LN , $788,000 =>  ( 3 , 2 ) 1078 , 5227   215 Cupertino  Real Estate
1-Active , 10230 YOSHINO PL , $899,900 =>  ( 3 , 2 ) 1688 , 3049  31 23 Cupertino  Real Estate
1-Active , 10066 JUDY AV , $1,880,000 =>  ( 5 , 4+ ) 3588 , 9147   68 Cupertino  Real Estate
5-Sold , 1048 CORVETTE DR , $938,000 => $971,000 ( 3 , 2 ) 1133 , 6098   13 San Jose  Real Estate
1-Active , 855 SARATOGA AV , $895,000 =>  ( 3 , 2 ) 1107 , 7840   29 San Jose  Real Estate
4-PendingDoNotShow , 898 E ESTATES DR , $775,000 =>  ( 3 , 2 ) 1080 , 7405  49 13 Cupertino  Real Estate
1-Active , 10361 MENHART LN , $749,000 =>  ( 2 , 1 ) 814 , 5000  55 21 Cupertino  Real Estate
1-Active , 18781 ARATA WY , $755,000 =>  ( 3 , 3 ) 1430 , 4791  55 20 Cupertino  Real Estate
1-Active , 10370 CALVERT DR , $799,888 =>  ( 3 , 2 ) 1078 , 5586  55 14 Cupertino  Real Estate
1-Active , 10685 STEVENS CANYON RD , $124,900 =>  ( 3 , 2 ) 1650 , 12343  87 10 Cupertino  Real Estate
5-Sold , 10670 LARRY WY , $1,700,000 => $1,650,000 ( 6+ , 4+ ) 3200 , 9147   15 Cupertino  Real Estate
3-PendingWithoutRelease , 6559 CLIFFORD DR , $968,000 =>  ( 4 , 2 ) 1515 , 5662  49 11 Cupertino  Real Estate
4-PendingDoNotShow , 10228 COLD HARBOR AV , $1,249,000 =>  ( 4 , 2 ) 2002 , 7405  39 12 Cupertino  Real Estate
1-Active , 10275 MORETTI DR , $865,000 =>  ( 3 , 2 1/2 ) 1651 , 5662  55 68 Cupertino  Real Estate
4-PendingDoNotShow , 814 BETLIN AV , $1,299,800 =>  ( 5 , 4+ ) 2350 , 6214   31 Cupertino  Real Estate
5-Sold , 10580 SAN LEANDRO AV , $2,250,000 => $2,070,000 ( 5 , 3 1/2 ) 3602 , 9600   1 Cupertino  Real Estate
5-Sold , 10380 STERN AV , $1,398,000 => $1,338,000 ( 4 , 3 ) 1950 , 5310   97 Cupertino  Real Estate
4-PendingDoNotShow , 810 ALDERBROOK LN , $974,950 =>  ( 3 , 2 ) 1201 , 5663   60 Cupertino  Real Estate
5-Sold , 10894 S BLANEY AV , $868,888 => $880,000 ( 3 , 2 ) 1176 , 8712   9 Cupertino  Real Estate
4-PendingDoNotShow , 1528 DANROMAS WY , $998,000 =>  ( 3 , 2 ) 1300 , 5663   49 San Jose  Real Estate
1-Active , 1405 GRAYWOOD DR , $1,670,888 =>  ( 4 , 3 ) 3346 , 5663   59 San Jose  Real Estate
5-Sold , 5194 RHONDA DR , $699,000 => $860,000 ( 3 , 2 ) 1608 , 8137   1 San Jose  Real Estate
1-Active , 10612 FLORA VISTA AV , $2,188,000 =>  ( 6+ , 4+ ) 3483 , 9625   50 Cupertino  Real Estate
4-PendingDoNotShow , 1384 JOHNSON AV , $1,050,000 =>  ( 3 , 2 ) 1247 , 6098   37 San Jose  Real Estate
3-PendingWithoutRelease , 10212 DUBON AV , $1,098,000 =>  ( 3 , 2 ) 1117 , 9148   7 Cupertino  Real Estate
1-Active , 15595 SWISS CREEK LN , $1,749,950 =>  ( 5 , 4+ ) 3641 , 435164   85 Cupertino  Real Estate
4-PendingDoNotShow , 10696 JOHANSEN DR , $788,000 =>  ( 3 , 2 ) 1247 , 5662   15 Cupertino  Real Estate
3-PendingWithoutRelease , 10511 BEARDON DR , $1,149,000 =>  ( 3 , 2 ) 1670 , 10018  56 9 Cupertino  Real Estate
4-PendingDoNotShow , 22245 CUPERTINO RD , $1,250,000 =>  ( 3 , 3 ) 1926 , 9583  32 8 Cupertino  Real Estate
1-Active , 1153 KENTWOOD AV , $1,299,998 =>  ( 4 , 2 ) 2247 , 5662  46 16 Cupertino  Real Estate
5-Sold , 1362 OAK KNOLL DR , $1,395,000 => $1,325,000 ( 4 , 3 ) 2330 , 10560   56 San Jose  Real Estate
5-Sold , 21543 TERRACE DR , $1,329,000 => $1,427,000 ( 3 , 2 ) 1766 , 8276   9 Cupertino  Real Estate
5-Sold , 1010 LANCER DR , $938,000 => $980,000 ( 3 , 2 ) 1133 , 6500   10 San Jose  Real Estate
5-Sold , 4738 ELMHURST DR , $739,000 => $745,000 ( 3 , 2 ) 1107 , 5662   6 San Jose  Real Estate
1-Active , 10642 N PORTAL AV , $1,688,000 =>  ( 3 , 2 ) 2985 , 14250   36 Cupertino  Real Estate
1-Active , 1672 DANROMAS WY , $1,197,000 =>  ( 4 , 2 1/2 ) 2021 , 6098  38 28 San Jose  Real Estate
5-Sold , 5263 LASSEN AV , $875,000 => $875,000 ( 3 , 2 ) 1544 , 5662   9 San Jose  Real Estate
5-Sold , 7582 KIRWIN LN , $1,189,950 => $1,265,000 ( 4 , 2 ) 1568 , 6534   9 Cupertino  Real Estate

Popularity: 50% [?]

What is the Minimum Length of Ownership Required for a 1031 Exchange Property?

Unfortunately, there is no safe holding period for property to automatically qualify for a 1031 Exchange. Keep in mind, the properties only need to be “held for investment” to be eligible for an exchange. Length of ownership is only one factor the IRS looks at when determining if the properties were “held for investment”. Want to play it safe? Follow these general rules:

• Hold your properties for a minimum of two tax filings.
• Report all rental income from the property on each of your tax filings.
• Take any allowable deductions including depreciation.
• Keep all records (lease agreements, property management contracts, etc.)

 Tax Update: Private Mortgage Insurance (PMI)

Private Mortgage Insurance (PMI) is a premium paid by home buyers to lenders when the value of the home loan they receive exceeds 80% of the appraised value of the property. PMI is charged by lenders to account for the additional risk they take on when funding loans secured by less than the traditional 20% minimum owner’s equity.

Until recently, the cost of PMI was not a deductible expense for tax purposes. This despite the fact that PMI is essentially the same as interest paid on the loan it relates to. Mortgage interest is deductible for most homeowners. If interest is thought of as the payment to a lender to account for time value of money and the risk of default, then PMI does not seem much different. Why the tax code treated it differently was a source of confusion and anger for many owners caught in the PMI net. However, there is good news to report.

New tax legislation passed late in 2006 allows for the deduction of PMI premiums for property acquired during 2007. In order to receive the deduction, the premium must relate to the purchase, not refinance, of a principal residence. The premiums are deductible in the same manner as mortgage interest. The benefit phases out for single taxpayers who make over $50,000 and is completely phased out at $55,000. The deduction for married taxpayers filing jointly phases out at $100,000 with a complete phase out at $110,000. There is some confusion as to whether the deduction is discontinued at the end of 2007, but for now, qualifying taxpayers who purchase qualifying property in 2007 will be entitled to the additional deduction.

PMI is generally associated with purchases of principal residences, so it usually does not affect investors contemplating a 1031 Exchange. However, similar expenses relating to the acquisition of a loan should be paid for “out of pocket” rather than with the proceeds of a 1031 Exchange sale. Most other non-recurring closing costs can be paid for with exchange funds.
 

Popularity: 27% [?]