R E A L E S TAT E W AT C H
Tax-Deferred Exchange by SCOTT VOAK
S
o, you have a property that you’re tired of but have a lot of profit in and don’t want to pay taxes. While you can take out a loan tax-free, selling the property triggers capital gains taxes – as well as depreciation clawback (you have to pay taxes on all the depreciation write-offs you took while you owned the property). But if you can find another property to invest in, you can do a tax-deferred exchange, more commonly called a 1031 Exchange or just a 1031. A 1031 allows you to sell one property and purchase another without paying capital gains taxes. There are lots of rules, and if you are interested, I would be happy to recommend an advisor (called an Exchange Accommodator) for you, but here are some basics: • You cannot take possession of the proceeds of the sale. They have to go to the Accommodator. • You have 45 days after you close your sale to identify up to three properties (or more, as long as the total value is less than 200% of the property you sold).
• The purchase of the new property must be completed within 180 days of the sale of the first property. • You may purchase more than one property, and you have to reinvest 100% of the proceeds from the sale, or you will owe taxes on the amount not reinvested. There is also a way to exchange an investment property for a property that you then convert into a primary residence. However, this takes some time and must be done with the help of a qualified professional. ¢
SCOTT VOAK
MBA – Broker Managing Partner CA DRE #01153157
888-311-6311 Scott@VoakHomes.com 16745 W. Bernardo Dr. #200 San Diego, CA 92127
ADDRESS
8501 Christopher Ridge Terrace
R E C E N T S A L E S AC T I V I T Y F O R T H E M OST C OM PR EHENSI VE LIST OF PR OPERTI ES SOLD WI THIN THE L AST S EVER AL YEAR S, VI SI T 9 2 1 2 7 M AGA ZINE.COM Information is compiled from a variety of databases and published by Susco Media Inc. for entertainment purposes only. Reproduction is strictly prohibited. Sales statistics are not affiliated with or provided by any participating advertiser or real estate professional contained in this publication. Properties contained in this list and online were sold by a variety of real estate brokers. Information considered reliable, but not guaranteed. Please check with a licensed real estate professional for more information. Not all sales are listed.
BEDS BATHS EST SF
3
3
2,302
PRICE
ADDRESS
$730,000
16923 Blue Shadows Lane
BEDS BATHS EST SF
3
3
PRICE
3,054
$1,256,652
16755 Coyote Bush Drive 60
3
4
1,885
$731,900
8146 Santaluz Village Green N
3
3
2,180
$1,325,000
7935 Lusardi Creek
2
2
1,276
$740,000
15079 Aramon Place
4
3
2,813
$1,325,000
9732 Fieldthorn Street
3
3
1,581
$743,000
16787 Santa Corina Court
4
4
3,629
$1,329,900
11483 Luz Road
3
3
1,819
$743,000
7965 Purple Sage
4
4
3,878
$1,350,000
16851 Abundante Street
4
3
2,112
$773,000
16113 Palomino Valley Road
5
5
4,632
$1,389,000
16608 Honeybrook Avenue
3
3
2,043
$792,000
8169 Santaluz Village Green S
3
4
2,900
$1,425,000
15543 New Park Terrace
3
3
1,785
$795,000
8107 Lazy River Road
5
5
3,585
$1,445,000
16116 Paseo Del Sur
4
3
1,867
$798,000
17246 Turf Club Drive
3
4
3,054
$1,450,000
17937 Myrica Lane
4
3
2,338
$807,000
7797 Doug Hill
4
5
3,582
$1,470,000
11348 Duenda Road
4
3
2,142
$810,000
7977 Purple Sage
6
7
4,731
$1,495,000
15563 Canton Ridge Terrace
3
3
1,785
$815,000
16367 Streamwood Court
4
5
3,673
$1,505,000
11591 Alborada Drive
4
3
2,170
$842,000
7863 Entrada Angelica
3
3
2,924
$1,557,000
16755 Coyote Bush Drive 1
4
4
2,173
$849,000
8604 Herrington Way
5
5
4,524
$1,600,000
15756 Paseo Del Sur
3
3
2,479
$855,000
9124 Bernardo Lakes Drive
4
5
4,105
$1,610,000
17783 Arawak Court
4
3
2,556
$950,000
14271 Caminito Lazanja
4
5
4,260
$1,625,000
16145 Veridian Circle
4
3
2,554
$961,000
17150 Tallow Tree Lane
5
6
5,128
$1,699,000
16914 Silver Pine Court
4
4
2,733
$965,000
16493 Edgehill Road
5
6
4,399
$1,715,000
15578 New Park Terrace
3
3
2,861
$968,000
16368 Winecreek Road
5
6
4,854
$1,755,000
17352 4S Ranch Parkway
4
3
2,797
$1,035,000
7916 Top O The Morning
5
6
5,253
$1,793,750
15929 Babcock Street
4
3
2,690
$1,070,000
8145 Silverwind
4
5
5,162
$1,852,274
7968 Lusardi Creek Lane
3
3
2,067
$1,085,000
9671 Lario Lane
5
6
5,303
$1,865,000
8281 Austin Hill Court
5
4
3,000
$1,105,000
8031 High Time Ridge
3
5
4,095
$1,900,000
10222 Sienna Hills Drive
5
4
3,574
$1,106,000
8354 The Landing Way
4
5
4,795
$2,056,500
7678 Via Vivaldi
4
4
3,038
$1,112,000
8151 Caminito Santaluz Sur
5
6
4,854
$2,200,000
10232 Paseo de Linda
6
5
3,823
$1,150,000
7640 Iluminado
5
6
6,893
$3,225,000
16790 Santanella Street
5
4
3,540
$1,230,000
Visit www.92127magazine.com for a complete list of homes sold in 92127.
52 • 92127MAGAZINE.COM • March | April 2020
