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The Benefits of a 1031 Exchange |
| | A long time Livermore resident, James, is an experienced real estate investor with a portfolio of residential rental properties, including a townhome in Livermore. Because the value of his townhome appreciated significantly over the years, James was interested in selling this property. However, James was concerned about the tax implications as a result of selling. James and I grabbed a cup of coffee and spoke in length about utilizing the IRS Code 1031 Exchange to sell his townhome as this would allow him to defer his capital gains taxes by re-investing the proceeds from the sale into another like-kind property or even multiple investment properties. We successfully sold Jame's townhome in Livermore for a fabulous price and worked with a 1031 Exchange company (known as an intermediary) to facilitate this transaction. All proceeds from the sale of his home were held by this qualified intermediary, as required by the 1031 exchange rules. Within the next 45-day identification period, I helped James identify 3 potential replacement properties that had a higher income potential and greater potential for long-term appreciation. We made an offer for one of the homes and were able to close on it within the allowed timeframe! Just like James, taking advantage of the 1031 exchange allows an experienced real estate investor or homeowner to defer capital gains taxes, expand your investment portfolio, and position yourself for success in the real estate market. It also underscores the importance of working with a knowledgeable professional to navigate the complexities of a 1031 exchange effectively. Explore the benefits of a 1031 exchange and take your next step towards tax savings and portfolio growth. |
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| Have a specific 1031 exchange question? Contact us now to start your journey to a smarter financial future. |
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Join us for the 8th Annual |
| Gobble, Gobble!!! Join us on Sunday, November 19, 2023, 10am–1pm, in-front of Livermore’s City Hall Building, 1052 S. Livermore Avenue, for the 8th Annual Mony Nop Turkey Drop benefiting Tri-Valley Haven. Community members are invited to drop off a frozen turkey, gift card, or cash donation to help local families in need. Mony shares, “Eight years ago, Tri-Valley Haven informed me that they did not have enough turkeys to provide for all of the Tri-Valley families in economic need. Growing up very poor, I know how difficult it was to go to bed hungry. I wanted to ensure that every family would receive a turkey. I spoke to members of my team, Mony Nop Real Estate, and we came up with the idea to host an annual event to collect donated turkeys for families in need. The idea of the Mony Nop Turkey Drop was born. My team also suggested that I had to wear a turkey costume to help get support for the cause. As such, I have been wearing the costume at the turkey drop event, ever since!” “This event is a wonderful way for everyone in the community to give back to families in need during the holidays. With the support of the Tri-Valley community, all families will be able to celebrate the holidays. All donations are greatly appreciated.” Christine Dillman, Executive Director of Tri-Valley Haven, states, “Every year, staff and volunteers look forward to this fun event. Please stop by. All donations are appreciated and make a difference - turkeys, gift cards or cash. Thank you and we’ll see you there!” Throughout the month of November, you can help by stopping by the Livermore Grocery Outlet, 1320 Railroad Avenue, and donating cash, a gift card, or a frozen turkey to benefit local families in great need. Your donation will benefit over 800 Tri-Valley families in need, ensuring them food for Thanksgiving and gifts and food during the December Holidays, fostering their independence and For more information about the Mony Nop Turkey Drop, please contact Mony via contact information below in this newsletter. If you cannot attend the event, you may donate to the Tri-Valley Haven’s Holiday Program using the "Donate Now" button below. Thank you! |
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An Evening Under the Stars with CityServe of the Tri-Valley |
| On the warmest evening in October, we had the honor of hosting "An Evening Under the Stars" benefiting non-profit organization CityServe of the Tri-Valley as they carry out their mission in the following ways: * CARE: Caring for people in crisis * COORDINATE: Coordinating resources and volunteers between the faith-based community, nonprofits, schools, businesses and government agencies * CONNECT: Connecting volunteers from local churches and the greater community to non-profits in the Tri-Valley Thank you to the amazing CityServe staff and all who attended for such an incredibly fun and inspiring evening! |
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| Market Shift Affecting Both Buyers and Sellers : While the supply of housing in California remains a limiting factor, we also are confronted with higher interest rates that affect buyers' purchasing power. Homes are taking slightly longer to sell with median days on the market at 19 days and sellers considering a price reduction. The promising side is that homes that are PRICED RIGHT and that PRESENT WELL are still selling relatively quickly with even more than 2 out of 5 transactions closing above list price! It is still a great time to buy and sell, but buyers and sellers NEED to be aware of the recent market dynamics and adjust expectations accordingly. Interest Rates Continue Upward Trend: Daily interest rates have held steady in the 8% range this past week as we close out October with the Freddie Mac average rate around 7.79%. This directly impacts the housing demand as mortgage applications reached the lowest level for purchase transactions. As the interest rates are expected to remain elevated, we may see a slowdown this holiday season. Consumer Spending Rising Amidst Falling Income: Consumers are continuing to spend which is contributing to the growth of the U.S. economy and most likely resulting in a strong increase in U.S. GDP. The spending is occurring while personal income declines which may indicate that consumer spending growth may not be sustainable as debt levels rise. |
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| | 4 BD | 2 BA | 1,500 SF | 6,032 LOT | $999,900 Coming on Market: Wed, 11/01/2023 Representing Sellers: Mony Nop & Sophie Mao Single-story cozy home for creating memories with loved ones |
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| | 4 BD | 3 BA | 2,225 SF | 7,280 LOT | $740,000 Coming on Market: Wed, 11/08/2023 Representing Sellers: Mony Nop & Sophie Mao Charming & private Ranch-style multi-level home. Renovated with design & sophistication for a growing family |
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| | 4 BD | 2.5 BA | 2,445 SF | 10,911 LOT | $1,799,900 Representing Sellers - Mony Nop & Sophie Mao Beautifully updated two-story home in cul-de-sac in West Dublin |
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