Buyer’s Beware: The Hidden Costs of Historic Homes

Historic homes prescott arizona

 

Did you know that Prescott, Arizona, has 65 properties that are listed on the National Register of Historic Places? Historic structures are abundant and beautiful in Prescott!

There’s much to admire about owning an historic home. However, before you… Continue reading

2018 Housing Market – What it Means To You

housing predicitons ‘What are the housing prices going to do in the upcoming months?’ is a valid question on many consumer’s minds.  Unfortunately, seeing into the future is only possible in the movies, not in the real world.  Lucky for… Continue reading

Tips For A Successful House Flip

Successful House Flip

Do You Think You Could Be a Successful House Flipper?

Thanks to HGTV, house flipping is an increasingly popular method of real estate investing. As easy as it may look, however, flipping is far from easy.

A seasoned house flipper… 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

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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