What Should You Remodel To Get The Most For Your Money?

Remodel with best Return on Investment

Kitchen?  Paint?  New Shower?  What should be remodeled first to give you the most return on your investment?  Below we will analyze where to best spend your valuable remodel dollars, to stretch them further, boost the… Continue reading

Tax Reform Impacting Home Ownership

Tax Reform and Real Estate

In early November, the House GOP leaders took their biggest step yet in their attempt to overhaul the U.S. tax code by releasing legislation that proposes sweeping changes to the current system.  The proposal unveiled a new top tax… Continue reading

Newlywed’s Guide To Buying a Home

Buying your first home

An exciting step for newlyweds is purchasing their first home as a married couple.  Planning a wedding is most often a stressful event in a new couple’s life.  Purchasing a home can be stressful as well, but with… Continue reading

Why People Are Moving To Prescott, Arizona

Prescott Arizona

Prescott, Arizona, is proudly known as “Everyone’s Hometown.” This charming town provides an overwhelming community and family atmosphere to its residents and visitors. Not only does historical Prescott offer downtown activities, but it also delivers peaceful living and abundant outdoor recreation.  With the Prescott National Forest surrounding the mountainous town, miles of hiking trails, multiple area lakes, and a dog-friendly downtown, it is not a mystery why people are moving to Prescott.

Prescott is conveniently located at a mile-high elevation in the mountains of north central Arizona in Yavapai County, approximately 95 miles south of Flagstaff and 95 miles north of Phoenix. The climate alone entices visitors to fall in love with Prescott, allowing residents to “brag” about its near perfect climate.    The town’s warm Summer season, a mild Fall season with beautiful foliage color changes, mild white Winter season, and overwhelming Spring beauty, all combine to make this town prime for active living.  In fact, the annual average high temperature is an enjoyable 69 degrees. Now that is worth bragging about. Continue reading

A 1031 Exchange is a Powerful Tax Strategy

A 1031 Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors to defer taxes1031 Tax Exchange when selling investment/commercial property.  This effective strategy is also known as a “Starker Exchange”, named for the first tax case that allowed the exchange, or a “Like Kind Exchange”, referring to the type of change that occurs.  This tax-efficient way of preserving capital that is invested in real estate is appropriately named a 1031 Exchange, after Section 1031 of the IRS code.

Section 1031 of the Internal Revenue Code provides an exception that allows the deferment of payments of capital gains taxes when a business or investment property is sold, if the reinvestment of the proceeds is reinvested in a similar property through a like-kind exchange.  To put it simply, a 1031 exchange allows an investor to “defer” paying capital gains taxes on an investment property when it is sold, as long another “like-kind property” is purchased with the profit gained by the sale of the first property.  An investor will eventually cash out and pay taxes, but in the meantime, Section 1031 allows an investor to trade properties without incurring a sudden tax obligation. Continue reading

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CLA Realty 15849 N. 71st Street, Ste. 100 Scottsdale, AZ  85254 480-767-5611 sales@homeisaz.com
 

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