The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: David Jones who wrote (25787)	12/9/2004 6:19:36 PM
From: Suma	Read Replies (3) of 306849

Example: I purchased a condo on water pre-construction price. It took a year to build. I moved into the condo and lived there two years. When one lives in a place two year they get a tax break of $ 250.000 over the cost of the purchase from US..I made a wonderful profit on the condo in those two years. Also, my son bought a piece of property from Lennar 1 1/2 years ago. Put down a deposit. It is now time to build as this piece of land was to build a Lennar home on. In the interim the piece of land has appreciated a hundred thousand. My son could sell the piece now for a profit.. Another person I know bids on being on list to purchase water front real estate. She goes in, plops down a deposit for a unit. By the time the unit is finished she sells the unit for profits up to two hundred thousand. She does not LIVE in the condo so she incurs a big tax consequence. When one does this let's say the bottom falls out of real estate. I say then be prepared to go through and BUY that condo or home... you may end up owning it and have to sell at a later date. I hope that I have explained this O.K. to you.

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