REALTY DIGEST
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Do you feel “stuck” in your home because you believe capital gains tax consequences would be too great if you sell?
I’m going to reveal the techniques homeowners use to legally reduce, eliminate, or defer capital gains taxes when they sell their personal residences:
IRS Section 121: Allows you to exempt $250,000 (per spouse) in capital gains taxes when selling a principle primary residence provided you have lived there 2 out of the last 5 years.
Stepped Up Basis: Allows the surviving spouse to sell “capital gains tax free” within 12 months of date of death (of spouse). After 12 months, Stepped Up Basis can be combined with IRS Section 121 to get an additional $250,000 capital gains tax free provided home is still the principle primary residence.
Rent out home/1031 Exchange: If you have the financial means to buy or lease another home without the sale of your principle primary residence, you can rent your home out thereby converting it to investment property. After 2 years, you can do a 1031 tax deferred exchange into another investment property anywhere in the U.S. Perhaps you purchase a Vacation Rental or home(s) that your children lease from you. Your home equity has been converted into rental income which pays the expenses for the home you bought or leased.
If you are age 55+, Proposition 19 makes it possible to transfer the low property tax assessment for your personal residence to another home anywhere in the State of California.
Please verify all tax aspects of selling with your CPA, and perhaps you are not “stuck” at all. The move you would like to make is perhaps both possible & financially prudent.
My Listing Commission in the NEW ERA will be 3.5% or Less!
How’s the Huntington Beach Market?
We’ve entered a NEW ERA in real estate, where the Buyer’s Agent is paid based on
Coldwell Banker sign in your front yard.
Emotional Appeal: My Home Preparation Assistance will position your home to get top dollar. I do not charge extra for coordinating the professionals that will make your home look fantastic for prospective home buyers.
At the start of 2024, the Days of Supply* for all homes in Huntington Beach was sitting at 78 (Balanced Market Range). But, by February it had dropped back to 48 (Strong Seller’s Market) due to lower mortgage rates. The reading remained in the high 40s until July 18, 2024 when it jumped up to 69 (in the Balanced Market Range). On September 12, the reading reached 80 Days of Supply (Balanced Market) despite mortgage rates falling to the lowest level since 2022 (30-Year Fixed Rate quoted on September 17th 2024 at 6.11%**).
Packaging: The Image Filled Marketing Package I create for your property will be amazing: Hi-Res photos, drone shots, 2D Floorplan, video, and 3D Virtual “walk through” Tour.
Multi-Channel Advertising: The imagery and property details will be aggressively distributed using multiple marketing channels directly to the consumer to attract qualified buyers. Your listing will be on all the top websites: Zillow, Homes.com, Trulia, Realtor.com, ColdwellBanker.com, Redfin, and the Realtor MLS. It will also be advertised on these additional channels: Social Media, eMails, brochures, retargeting, geo-fence targeting, texting, direct mail, signs, & more!
So, since early July, we are seeing a shift in market conditions trending towards a buyer’s market. The Days of Supply remains in the Balanced Market Range presently, but the market may not be as advantageous for sellers in the future… much depends on mortgage rates as we move forward. Now remains a great time to sell a home in Huntington Beach.
*Days of Supply is defined as the number of days required to sell all the homes currently on the market at the present rate of home sales. ** Mortgage News Daily.
In the NEW ERA, many consumers will find your home on their own, then come tour it without a Buyer’s Agent.
If a qualified buyer has not signed a Buyer Representation Agreement before visiting your home, I will represent that buyer as a Dual Agent… this service is included in the 3.5% commission.
Certainly a “Salesforce” of Buyer Agents will still try to sell your home. And, some Buyers will prefer to sign a Buyer Representation Agreement with an agent they know & trust.
My marketing recommendation to home sellers in the NEW ERA is to encourage cooperating Buyer Agents to show and submit offers. I believe most sellers will consider paying compensation to Buyer Agents per the terms of their Buyer Representation Agreement. It is sensible to consider offers with the Highest Net Proceeds & Best Terms regardless of the amount of compensation paid to the Buyer’s Agent.
Year over Year
Year to Date
My Listing Commission in the NEW ERA will be
3.5% or Less!
We’ve entered a NEW ERA in real estate, where the Buyer’s Agent is paid based on the compensation identified in the Buyer Representation Agreement… not an amount published in the Realtor MLS.
In the past, there was an emphasis on “Salesforce Marketing” with generous Seller paid Buyer Agent commissions to bring qualified buyers to the table. But this incentive is no longer guaranteed by the MLS Rules.
If a Seller offers to pay Buyer Agent compensation exceeding the amount specified in the Buyer Representation Agreement, the Buyer Agent cannot legally accept the additional compensation.
Successful Marketing in the NEW ERA is evolving toward Consumer Product style techniques which emphasize Branding, Emotional Appeal, Packaging, & Multi-Channel Advertising:
Branding: Home buyers exhibit predictable consumer behavior. In the biggest purchases of their lives, they prefer to buy from an established & respected brand. Coldwell Banker is the oldest, best known, and most respected Real Estate Brand. Millions of advertising dollars are spent year-afteryear so potential buyers will have a positive association with your home the moment they see the Coldwell Banker sign in your front yard.
Emotional Appeal: My Home Preparation Assistance will position your home to get top dollar. I do not charge extra for coordinating the professionals that will make your home look fantastic for prospective home buyers.
Packaging: The Image Filled Marketing Package I create for your property will be amazing: Hi-Res photos, drone shots, 2D Floorplan, video, and 3D Virtual “walk through” Tour.
Multi-Channel Advertising: The imagery and property details will be aggressively distributed using multiple marketing channels directly to the consumer to attract qualified buyers. Your listing will be on all the top websites: Zillow, Homes.com, Trulia, Realtor.com, ColdwellBanker.com, Redfin, and the Realtor MLS. It will also be advertised on these additional channels: Social Media, eMails, brochures, retargeting, geo-fence targeting, texting, direct mail, signs, & more!
In the NEW ERA, many consumers will find your home on their own, then come tour it without a Buyer’s Agent.
If a qualified buyer has not signed a Buyer Representation Agreement before visiting your home, I will represent that buyer as a Dual Agent… this service is included in the 3.5% commission.
Certainly a “Salesforce” of Buyer Agents will still try to sell your home. And, some Buyers will prefer to sign a Buyer Representation Agreement with an agent they know & trust.
My marketing recommendation to home sellers in the NEW ERA is to encourage cooperating Buyer Agents to show and submit offers. I believe most sellers will consider paying compensation to Buyer Agents per the terms of their Buyer Representation Agreement. It is sensible to consider offers with the Highest Net Proceeds & Best Terms regardless of the amount of compensation paid to the Buyer’s Agent.
Notably, I offer a discount on the 3.5% Listing Commission when the buyer has an agent. You can redirect these funds toward the compensation of the Buyer’s Agent or toward your other customary seller closing costs.
Scot Campbell is an experienced, trustworthy, knowledgeable, reputable, and above all caring Realtor with 100% 5-Star Reviews.
In 2024, he already has 29 Transaction Sides Closed or In Escrow Totaling over $58.5 Million. Scot has Brokered over 3,500 Homes in the last 34 Years!
7262 Yellowtail Drive #101, Huntington Beach CLOSED: Represented Buyer - $747,500
16123 St. Croix, Huntington Harbour CLOSED: “Seagate Lagoon” - $1,415,000
4021 Ondine Circle, Huntington Harbour CLOSED: $1,685 PSF - $5,700,000
8842 Dorset Drive, Huntington Beach CLOSED: Represented Buyer/Seller - $1,420,000
17131 Autumn Circle, Huntington Beach CLOSED: Represented Seller - $1,530,000
6792 Silver Beach Circle, Huntington Beach CLOSED: Represented Seller - $2,744,000
16547 Tropez Lane, Huntington Harbour CLOSED: Represented Seller - $1,150,000
1200 PCH #105, Downtown Huntington Beach CLOSED: Represented Seller - $848,000
4048 Mistral Drive, Huntington Harbour CLOSED: Represented Seller - $2,380,000
4167 Warner Ave #101, Huntington Harbour CLOSED: Represented Seller - $1,110,000
Bedrooms | 3 Baths | 2,340 Approx. SF of Living Area | 2 Car Garage | Beautiful Front & Back Yards
Extensive Upgrading & improvements! This beautiful 2 story home is located in the Marine View School neighborhood with quick access to the bike path which leads to the Bolsa Chica Wetlands and Pacific Coast Hwy. Interior tract location and close to the beach, shopping, Meadowlark Golf Course, and more. You will love the backyard & spacious family room... and, if it is an important feature to you, it has two downstairs bedrooms with a hallway full bath! This home is “move-in ready”... definitely take a look at this one!
