Why Home Buyers in Nevada City, Grass Valley and Penn Valley, California Choose Kurt Congdon, NUMBER1EXPERT(s)™ Top Selling Real Estate Agent(s)

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Welcome > For Buyers >Hot Property Alert... ...

Feature Home - LOCATION, QUALITY and CHARM

$300,000

Exterior Front

Address: 14267 Bertino Road	City/ST: Grass Valley, CA	Zip Code: 95945
Location: Grass Valley, CA	Property Type: BEST Buys Under 500K	New or Resale: Resale
Square Footage: 1260	Bedrooms: 2	Bathrooms: 1 full, 1 half
MLS# 1028660

Conveniently tuckedoff of Highway 174 in picturesque Peardale area. Covered front porch sets the stage. GREAT ROOM with glowing fireplace. Open to family size Kitchen.Bedrooms are Generous in size. High ceilings and SOUTHERN Exposure provide lots of light. Fenced garden and room to expand. This property and homeare a winning combination.

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Tax Considerations >New 1031 Exchange Rules

One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.

A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.

Consult your tax advisor for more detailed information.

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Q	Which home is considered the ultimate in California craftsman-style architecture?
A	Located in Pasadena, the Gamble House, built in 1908 by Charles and Henry Greene, is a National Historic Home open to visitors.
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Kurt Congdon, REALTOR®, real estate agent and broker for Nevada City, Grass Valley and Penn Valley, California home listings, property and land for sale - NUMBER1EXPERT(tm)

Kurt Congdon
Coldwell Banker Grass Roots Realty
1012 Sutton Way
Grass Valley, CA 95945
Toll Free: 800-471-4570
Office: 530-273-0073
Fax: 530-687-0309
Email: kurt@gv.net
DISCOVER YOUR DREAMS in Nevada City real estate or Grass Valley real estate. Kurt will guide you through the process of understanding the purchasing of rural property such as Penn Valley land, Nevada City Acres & Grass Valley homes. His love and enthusiasm for Nevada City and Grass Valley are genuine. With over 10 years experience, and honors in the top 5% of all agents nationwide...Kurt will provide both exceptional personal service and HI-TECH communications. The Nevada County area offers extraordinary natural beauty, rare communities, arts, entertainment, and the highest quality of living. Let Kurt help you DISCOVER YOUR DREAMS in the Sierra Nevada Gold Country towns of Grass Valley, Nevada City and Penn Valley.

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NUMBER1EXPERT™ for Nevada City Real Estate CA, Grass Valley Real Estate and Penn Valley Real Estate, California, Luxury & Estates, Waterfront & Horse Properties

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