Denver Real Estate.

[Bee1971]

Isn’t there exceptions on Capital Gains when it comes to home ownership and sales ?

 

[patrick66]

There are, but you have to spend most of the proceeds/profits made from the sale to obtain a second home of equal or greater value, IIRC.

 

[Triplegreen500]

Correct.

If you roll the proceeds back into real property (or business property), those funds are no longer considered "gains" and are untaxed.

I believe - but don't quote me on this - that you can also roll the proceeds into something like a 401(k), where you would pay the taxes on it when you withdraw the money anyway. Check with your accountant.

I found the Charger I'd always wanted when I sold a house last year (a business rental property), so I said "screw it", bought the car, and paid my taxes. Sucked...kinda. Didn't like writing the check to the Fed or the state...but damn, I love having my Charger!! (and some money in the bank)

 

[joe smith]

And the people that live there are slowly destroying Denver. Sad.

The people who MOVED there are destroying it

 

[MIKESPOLARA]

You're not too far from me...

I'm looking to get a military tenant in my open apartment. Screw the moratoriums, if you don't pay you're out. Military would understand that. AND, not trash my place! I'm about 5 min from Camp David...I wonder if I could drive up to the gate (without getting shot!) and drop a business card for anyone who may be looking....hmm....

Why do you specifically look for military? No fear of them losing their income source?

 

[Triplegreen500]

Part of it.

Mostly respect for our troops, as well as their respect for my property. Many times if there's an issue, all it takes is a call to a CO...

My other current tenant is a nurse, for many of the same reasons - respect (both ways), and consistent employment/income. I'm not "big" enough to be a charity, I do this to cover my expenses and make some money.

 

[Cojohnso1]

Actually most the price spikes are in the burbs. I have been working remotely since the pandemic started. It has worked far better than management expected. Better communications. If it wasn't for Covid? Sick time would be near zero. With broadband now expanded to some of Minnesota's rural areas? I am seriously thinking selling and buying/moving farther out. Only about 50 mi. Prices are very different in that 50 miles. 2 issues are stopping me.

1. I have 1 1/2 years left until retirement. And I cannot get a commitment from upper management on telecommuting policy for that 18 months.

2. I have lived in small towns before. And I get bored. Not that I can't or even have to get up and out to places with more action? I get bored with the local politics and small town gossip. Sitting around the local pub bitching about the same things over and over. How bad it's in every city. When they have never been there?

This of course is just one guy's opinion and scenario. If it was true for everyone? Or every place? We would all be stuck in the burbs.

 

[barbee6043]

I seen a city one....I don't go there.

 

[SteveSS]

All the properties around our ranch are turning into neighborhoods. They are just putting in roads where there were fields or forests before. I'll try to get a picture.

 

[joe smith]

All the properties around our ranch are turning into neighborhoods. They are just putting in roads where there were fields or forests before. I'll try to get a picture.

Californication

 

[Ironbuilt]

All the properties around our ranch are turning into neighborhoods. They are just putting in roads where there were fields or forests before. I'll try to get a picture.

That's how it starts....the ending is BAD!!

 

[OKDart]

Denver area is beautiful, but the traffic there is a real issue.

I love the Colorado mountains, but there's no way in hell I'd live within 30 miles of I-25 from Trinidad all the way to Cheyenne.

 

[moparmarks]

I love the Colorado mountains, but there's no way in hell I'd live within 30 miles of I-25 from Trinidad all the way to Cheyenne.

Yep, I live over on the Best [West] side.

 

[moparmarks]

Californication and Texacation have been going on here since the 60's. We are one of the fastest growing states.

 

[patrick66]

Was over on the Western Slope a couple of years ago for a week or so to visit and look for a house to retire in. I liked my town. Having graduated over there, way back in the day, things have changed so much over the years, much is not recognizable from the 1970s. I wasn't expecting 1978 again, but I also wasn't expecting the wholesale change that has occurred there. Much of that, for the worse. I decided to look elsewhere for a retirement property.

I spent my childhood in west suburban Denver. None of my old neighborhood exists there anymore, and I do mean literally nothing! Every building, house, shop...even the Elks Lodge and the Lions Club buildings...all gone for street widening and other "improvements". I won't drive through there again. Ever. It sickens and saddens me to see "change" for the sake of change.

 

[moparmarks]

Yep, a lot has changed. Seems to be a lot more mental cases here any more with all the shooting and crap going on these days.
A lot more restrictions on public lands too.

 

[Hey-O]

Housing was fun and we did it our whole life's. Went through the last bubble and took a few years to get right, I'm done. Sold everything I owned and did it twice in the last two years or so. Sold the last two without a realtor and got whatever I wanted. Contracted to have this one built last November and before it was done the cost for everyone that came in behind me went up 46 thousand. That's Covid panic money, material shortage, that I don't believe they'll get back. Covid bubble first, then the rest of the mess will open up once the middle class gets squeezed out of the average priced housing market due to the run up in pricing that came about because of the home buying frenzy . This will all stop when they raise interest rates. It's been a great life, just time to shut down while I'm on top.

 

[slepr1]

Isn’t there exceptions on Capital Gains when it comes to home ownership and sales ?

Fortunately here in Canada we don't pay capital gains on the sale of your primary home.

 

[joe smith]

Californication and Texacation have been going on here since the 60's. We are one of the fastest growing states.

Betting the Texacation were former Californicators who were run out of Texas

 

[SteveSS]

I know my daughter doesn't WANT to live in Denver, that's just where the good-paying jobs are. You try to find a home close to your work and stay off the main highways.