Nope..... personal home can qualify as well. Talk with a Tax lawyer ( which I'm not)1031 is for an investment property only.
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Nope..... personal home can qualify as well. Talk with a Tax lawyer ( which I'm not)1031 is for an investment property only.
I'm interested... maybe. If you wanted to PM an address I could tell you real quick if I was. Thank youWhat are they looking for in Cherokee. I have one we will be bringing to market in a month or so. It’s a 3/2 on 1.5 acres in north Cherokee
I have used a 1031 exchange at least 6 times and just did one 3 weeks ago. Never heard of anyone using a personal residence and don’t know why they would when they have up to a $500k exemption. Maybe there is an exception.Nope..... personal home can qualify as well. Talk with a Tax lawyer ( which I'm not)
I have used a 1031 exchange at least 6 times and just did one 3 weeks ago. Never heard of anyone using a personal residence and don’t know why they would when they have up to a $500k exemption. Maybe there is an exception.
"Inventory at the end of April stood at 1.03 million homes for sale, which is down 10.4% from April 2021. At the current sales pace that represents a 2.2-month supply."Prices should start dropping soon. Be patient. https://www.cnbc.com/2022/05/19/exi...-to-lowest-level-since-start-of-pandemic.html
if you need to buy to live or just found the perfect spot, then price and interest rates are less of a consideration since youre gunning for utility. that said, i find it myopic for people to be discussing purchasing in terms of 1-3 years all the while locking in a 30 year mortgage (commitment). sure you can pay off early or restructure the loan, but if 30 years is the term then thinking in terms of "RIGHT NOW" isnt the best play IMOI thought he was talking more about getting what you want and not trying to time the market. For me, getting a house now would be worth more than getting a better deal on a house later. I am sick of being in an apartment.
I agree. That’s why I was saying be patient. The stock market is heading towards a recession which will lead to job loss, inflation through the roof and gas having the possibility of doubling will all have an effect soon. Fear will set into the market and paying almost 100% over what home prices were 2 years ago should fade quickly. I sold a month and a half ago. The realtor told me 2 years ago he would have been surprised if I had got half of what I closed for had I sold then. I may be wrong but it looks like the dominos are lined up waiting on the first one to get knocked over."Inventory at the end of April stood at 1.03 million homes for sale, which is down 10.4% from April 2021. At the current sales pace that represents a 2.2-month supply."
Inventory is still to low. Nees to get up past 3 month supply IMO. Also, with inventory so low, homes can't sale if there are no homes to sell.