When selling a property, you dont add the sale price to your overall income to see if you fall within the 15% or 20% capital gains bracket, correct? My CPA said we fall into the 20% with the sale of the property, but the spouse and I are about 300k to 325k gross this year. The bracket for 20% would require us to make $288k more, but the profit made off the sale is only $170k. (After factoring in purchase price, improvements, depreciation, sale price and closing costs). However if you took the sale price and added it to our income, then yes, it would. But I dont think thats how it works? submitted by /u/ManonFire1213 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xl3opi/rental_property_sale_taxes/

Very interested in this house as it checks all our boxes. $1.3m is the absolute top of our budget, but it literally doesn't need any work (wife and I are expecting, so move in ready is a plus). House has been on market for 75 days with no offers. Was purchased in June, then flipped, and relisted in August. They're having an open house today, but we'd like to submit an offer. What would be a reasonable offer that should get accepted that could save us some money? We have no contingencies besides inspection and appraisal. Planning to put 15% down. submitted by /u/iSniffMyPooper [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xke84e/flipped_house_bought_for_1025m_and_relisted_for/

Curious to hear your professional experiences with land agencies submitted by /u/truecakesnake [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xkblzo/what_are_the_best_land_acquisition_firms_for_bess/

Like literally a starter home is 850k to 1.5 m whos buying or can afford this ? submitted by /u/we-could-be-heros [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xjxn6k/whos_buying_at_these_prices/

We are very quickly if not already outgrowing our home. 4 kids, 1 primary upstairs bath. There is technically a “full” bath in the basement but it’s a shower only with a toilet and sink and I honestly pretend it doesn’t exist because it’s gross. We have 3 beds which doesn’t bother me, but we have no playroom as our basement isn’t updated / finished, and no office space. We also have the smallest backyard. I want to upgrade but we bought a fixer upper and can’t afford a better home unless it’s another fixer uppper. We have come a long way in the 4 years we’ve been here but there’s still an endless amount of projects before I feel comfortable selling. I want out though because it’s tight and cramped in here! How did you know it was time to sell your house and get a bigger one? Did you wait until yours felt complete or you could get a good value for it? submitted by /u/solidarity_sister [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xjg9aj/w...

We’re about 18 months away from putting our house on the market and trying to figure out where it actually makes sense to spend money. I keep getting conflicting advice on things like the roof, windows, and siding. Some people say a new roof barely adds any resale value, while others say buyers will immediately lose interest if the existing roof looks old. Is there any solid data on which exterior upgrades tend to have the best return when selling, or does it depend too much on the market and the condition of the house? submitted by /u/truecakesnake [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xjec68/which_exterior_upgrades_are_actually_worth_doing/

I know that the housing market slowed down due to the interest rates increasing, but is anyone hearing about potential buyers waiting out until after the election to understand the coming market a bit better? I’m wondering if people are waiting out the uncertainty to adjust their offers accordingly. Does anyone have predictions they would like to share or care to share what they are hearing from others (other’s mindset) on the subject? submitted by /u/HealthWealthFoodie [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xiozvt/anticipated_changes_in_the_market_after_the/

I'm having a hard time finding a vacation home. Our budget is modest. I can't spend a million for 900 sq feet etc however I can spend 400-500k and take on a project if I must. I've kind of settled on finding land and taking it slow. In the area I'm looking barely anything as sold and most of what is listed has been on the market 150 plus days and there doesn't seem to be any movement on price. Several are going on for over a year starting with insane prices and discounting like 2% every month. The land prices make zero sense. The recent property I looked at has been for sale 200 plus days for 375 but no well, needs a new seawall, small boat house that needs to be torn down as well as a tiny place from 1850 that needs to be torn down. There is probably 75k in property repairs. But houses 2 lots a way completely finished are listed for 600k and also haven't sold and have been listed for also 100 plus days so won't be selling for that. Most of it requires wor...

No one is buying a house now. People losing jobs are going to put their houses on the market. High mortgage rates add fuel. submitted by /u/nian2326076 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xigodu/microsoft_just_killed_the_housing_market/