VikeSellsRedmond.com
VikeSellsRedmond.com
Vike H., Broker Associate
16261 Redmond Way Redmond, WA 98052  |  Direct: 206-501-5165  |  Office: 425-883-0088  |  Email: VikeH@Windermere.com
 Building Wealth Through Real Estate
We are totally committed to our clients investment needs, ranging from first time homebuyers to multi-million dollar home buyers and sellers.

Our main concern is YOU and we are here to see to it that your best interests are not only met, but exceeded your expectations. We would like to put our knowledge, expertise, and strong negotiation skills to work for you, to transform you from satisfied clients to raving fans for life!!

For an exceptional real estate representation, consultation, insight and assistance, please feel free to contact us today!

In addition, we have a list of nationwide network of the most knowledgeable and caring Realtors that we can recommend you anywhere in the United States.

Our reputation for integrity in all aspects of Greater Seattle/Eastside real estate practice keeps our clients retuning for all their real estate needs. Additionally our clients go out of their way to refer their friends, family members and anyone they know who needs a exceptional real estate services that is second to none!

 

 
 



  New 1031 Exchange Rules

 

Selling a property in exchange for another is a popular strategy some property owners use under the Section 1031 of the Internal Revenue Code to defer taxes.  This effective method is used to defer paying income tax on capital gain as a result of selling a property and reinvest its earnings in a similar property. Practically any type of real property is regarded as similar with any other real property.

 

Recently, a new legislation was enacted into law that closes this so called loophole in the Section 1031 of the Internal Revenue Code rules.  Some had used the 1031 tax deferred Exchange to trade their investment property for another one that they could occupy as a primary residence, and then selling it after having lived in it for a couple of years.

 

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.

 

 

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Windermere Real Estate/S.C.A. Inc., | 16261 Redmond Way Redmond, WA 98052 | Direct: 206-501-5165 | Office: 425-883-0088 | Email: VikeH@windermere.com
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