The above is just an excerpt…Get more information on Short Sales by clicking the yellow tab below |
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Tag Archives: palos verdes homes for sale
Homes for sale in Rancho Palos Verdes near Trump National & Terranea
“Beauty and the Beast”The author of this article I ready today about the landslide area in Portuguese Bend, Rolling Hills etc couldn’t have named the article any better. This is an area that is one of the most beautiful areas between Santa Barbara and San Diego and while many areas within the South side of the Peninsula are “safe” from movement, including perhaps Zone 2 sections of Portuguese Bend (you can read more here … http://www.facebook.com/permalink.php?story_fbid=225573987477111&id=126283734095981), the landslide areas have kept this section of town one of the most tranquil and beautiful in all of California. There really is a silver lining to every cloud! And I know that many people are detrimentally effected (past, present and future); I’m very sensitive to this. That being said, I hope you can enjoy and appreciate the “Beauty” within this “Beast”. Let me add – Portuguese Bend is an area in which my wife and I have aspired to own a home for a long, long time … whether in the slide zone (contact me regarding mitigating strategies) or not … I can only describe it the way Ray Liota and Kevin Costner did in “Field of Dreams” … “Is this Heaven? No it’s Portuguese Bend!” … well Costner said Iowa, but you catch my drift … Palos Verdes homes for sale on the South Side of the Palos Verdes Peninsula |
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When NOT to list your home for sale in Palos Verdes
For more information on just one of the hi-tech venues in which I market my seller’s homes, just visit the link profiled in the yellow tab below.
Meanwhile, who do you know that is looking to move in, out or around the South Bay – your referrals will ALWAYS be cherished! |
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For Palos Verdes Home Buyers
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Palos Verdes Real Estate Website
What’s happening with www.homeispalosverdes.com?
For more information on homes for sale in Palos Verdes, Palos Verdes real estate, palos verdes homes for sale, palos verdes foreclosures, palos verdes real estate market information as well as quality information on homes for sale in Rancho Palos Verdes, Palos Verdes Estates homes for sale, Manhattan Beach real estate, Hermosa Beach real estate, Redondo Beach real estate, Torrance real estate, Palos Verdes real estate trends, and real estate trends throughout the Beach Cities, Palos Verdes Estates and the South Bay, visit www.homeispalosverdes.com JOIN ME ON FACEBOOK and follow me on Twitter! DRE LIC # 785373
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Palos Verdes Homes Sale Report for July 9 2012
Here’s a quick overview to answer many of the questions I’ve received as to why properties seem to be selling at prices higher than what buying clients are expecting If you would like more information or if you would like to subscribe to my proprietary real estate charts, please go to this Palos Verdes Real Estate Trends website. DRE 785373 |
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as originally published at http://realestatemarbles.com/homeispalosverdes/2012/07/09/palos-verdes-h…port-july-2012/ | |||||||||||||||||||||||||
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3.8% ObamaTax for Palos Verdes Real Estate?
There are a bunch of emails floating around out there that included within the new ObamaTax-icare System is a 3.8% tax on the sale price of your home. While we can disagree on the merits of ObamaCare (I for one am strongly against it) we must get the facts right. It is not true that there is a 3.8% tax on the sale price of your home … HERE ARE THE FACTS … Origins: One of the provisions in the reconciliation bill (HR 4872) passed in conjunction with the Patient Protection Affordable Care Act (PPACA) health care legislation calls for high-income households to be subject to a new 3.8% Medicare tax on investment income starting in 2013: The PPACA creates a new Code Section 1411, which will generally impose a 3.8 percent tax on the lesser of “net investment income” or the excess of modified adjusted gross income over a “threshold amount” (generally, $250,000 for taxpayers filing a joint return, $125,000 for married taxpayers filing a separate return and $200,000 in all other cases). Net investment income generally means the excess of (i) interest, dividends, annuities, royalties, rents, income from passive activities, income from trading financial instruments and commodities, and gain from the disposition of certain non-business property, over (ii) allowable deductions properly allocable to such income. In determining the amount of net investment income, special rules apply with respect to dispositions of equity interests in certain partnerships and S corporations, and to distributions from certain qualified plans. This additional tax applies to taxable years beginning after December 31, 2012. This is a complicated section of a complicated piece of legislation, and the 3.8% Medicare tax has been frequently misreported as amounting to a 3.8% “sales tax” on all real estate transactions. This is incorrect: the Medicare tax is not a sales tax, nor does it apply to all real estate transactions; it is a tax on investment income (income which may or not derive from the sale of property) only for persons who earn more than the amounts specified in the bill. First of all, the Medicare tax will be imposed only on individuals with an income above $200,000 and couples with a joint income more than $250,000, a figure which currently excludes about 97% of all U.S. households. Second, the tax will not be assessed on every house sale, but only on real estate transactions that produce profits over a specified dollar amount. As Sara Orrange, Government affairs director of the Spokane Association of Realtors noted in response to a repetition of the “sales tax” rumor in the Spokane Spokesman-Review: In his recent guest column regarding the impact of the health care bill, Paul Guppy of the Washington Policy Center claimed that a 3.8 percent tax on all home sales was a part of the recently passed legislation. This is inaccurate and needs to be corrected. The truth about the bill is that if you sell your home for a profit above the capital gains threshold of $250,000 per individual or $500,000 per couple then you would be required to pay the additional 3.8 percent tax on any gain realized over this threshold. Most people who sell their homes will not be impacted by these new regulations. This is not a new tax on every seller, and that correction needs to be made. This tax is aimed at so-called “high earners” — if you do not fall into that category you will not pay any extra taxes upon the sale of your home.
a) The amount by which the couple’s taxable income now exceeds the $250,000 income threshold level. b) The amount of taxable income gained from the sale of their home. In case (b), the dollar figure would be amount of taxable income gained from the sale of their home, which, as detailed above, was $50,000 (i.e., $550,000 profit minus the $500,000 exclusion). The second dollar amount is the lesser of the two, and therefore the couple would have to pay an additional tax of 3.8 percent of $50,000, which would amount to $1,900. (If the hypothetical couple had realized less than a $500,000 profit on the sale of their residence, none of that gain would be subject to the 3.8% tax.) The referenced tax is therefore not a tax on all real estate sales; it is an investment income tax which could result in a very small percentage of home sellers paying additional taxes on home sales profits over a designated threshold amount. In short, if you’re a “high earner” and you sell your home at a substantial profit, you might be required to pay an additional 3.8% tax. However, given that only about 3% of U.S. households have incomes that exceed the specified income threshold amount, the existing home sale capital gains exclusion on a principal residence ($250,000 for individuals, $500,000 for couples) still stands, and the national median existing-home price in January 2012 was only $154,700 , the Medicare tax will likely affect only a very small percentage of home sellers when it is implemented in 2013.
The 3.8% Tax: Real Estate Scenarios & Examples (National Association of Realtors) So whether you are going to have a tax liability or not, and please do consult with your accountant to verify all the information above, the fact remains, what’s the single best way to get the highest price for the sale of your home? The answer is simple – “Marketing 101” as they say, and that’s to have the greatest number of buyers competing for your home. But, that begs the next question, right? “How do I do that?!” It’s all about the internet folks. Take this example on how I was able to get a record breaking price in a down market for a Palos Verdes home |
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This article was originally posted here: http://realestatemarbles.com/homeispalosverdes/2012/07/06/palos-verdes-estates-real-estate-question-3-8-obamatax/ | |||||||||||||||||||||||||
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Palos Verdes Real Estate Transaction Report
Palos Verdes Real Estate Transaction Report
Supply & Demand Study for the last 6 months for the South Bay and the Palos Verdes PeninsulaThe biggest change is in supply. Keep in mind, real estate, as in any other commodity, has it’s price determined by the balance or imbalance in supply and demand. To read the full report and see the changes taking place for the Palos Verdes homes market and the South Bay real estate market, go to the Palos Verdes Homes Supply & Demand Report. |
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Palos Verdes Real Estate Market Changes
Play video to see what’s happening in the market. You can click the charts to see larger, more readable versions and use the link below to get more insight into the Palos Verdes real estate market In every Palos Verdes home market except for Malaga Cove, the absorption of inventory has improved. The largest absorption improvement is found in the PVDS, Valmonte, Mira Catalina and La Cresta real estate markets. To dig a bit deeper into the numbers we really need to understand why the absorption numbers have improved so much in the last 12 months. Is it because demand (pending sale volume) has increased? Are there more buyers in the Palos Verdes home market? Or is it because supply (new listing volume) has dropped? Are there fewer sellers in the market? Or is it a combination of both factors. What we’re finding is that nearly for all Palos Verdes homes market areas, inventory, ie SUPPLY, has dropped immensely. And at the same time, in most of the markets, demand has increased. Some areas experienced decreases in demand (pending sale volume); however, in these areas, supplies dropped off by a greater percentage making a net result of an increase in the absorption patterns. Bottom line, the market is firming up, prices are gelling and while no one can predict the future, this positive change is a welcome one for the Palos Verdes real estate market. For more information, please visit www.homeispalosverdes.com Here’s a great home for sale in the La Cresta area; one of the hottest markets now on the Palos Verdes Peninsula: |
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Something to do in Palos Verdes this Summer!
Something to do in Palos Verdes this Summer!Concert Series At TerraneaSummer is almost here! That means tons of fun in the sun and live music at Nelson’s! Join us at Terranea’s oceanfront gastropub, Nelson’s, for their Summer Concert Series kick off event happening May 25th. Check out the 2012 line-up below: Nelson’s Summer Concert Series 2012 Line Up: May 25th The Repeat Offenders with Food From the Sausage Kitchen All buffets will be from 5pm-9pm. There are three holiday buffets on Sundays. They include Memorial Day, Fathers Day and Labor Day Sausage Kitchen $19 * Taste of India $26 * All American $24 * O Sol Mi $24 * Mongolian BBQ $24 * South of the Border $19 * Taste of Savannah $24 * Bourbon Street Seafood $26 |
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