Strong Showing for 49 Rutland Road
Take that, market bears! Remember 49 Rutland Road?
Take that, market bears! Remember 49 Rutland Road? The four-story brick and limestone house hit the market last November with an asking price of $1,450,000. It popped up recently as being in contract on Brown Harris Stevens. The contract price, we hear, is $1,425,000. It took a few months, but that sounds like a pretty strong vote of confidence in the townhouse market to us. Or at least for PLG!
HOTD: 49 Rutland Road [Brownstoner] GMAP P*Shark
49 Rutland Road [Brown Harris Stevens]
4:11, you are incorrect about the tax issue.
A married couple gets $500K capital gains tax-free and a single person gets $250K.
You don’t have to buy another place.
It still could be a good plan to plow the ungodly profits into a new place, but not necessary to avoid the IRS
IF you sell a house/condo/co-op, one that you use as a primary residence, don’t you have to re-invest the proceeds within a year or you get taxed on the gain from the sale? I thought you did.
If my understanding is correct, 2:42, you are not considering the tax cost of not putting your entire proceeds into your next home. If you only put the minimum down, you will have to pay taxes on the residual gain that is not re-invested. From a tax planning perspective, why would you want to have such a cash outflow AND end up with a monthly mortgage that is higher than renting? You take all the proceeds, re-invest in a bigger house and keep your monthly mortgage costs low.
OMG, has the market gotten so bad that Brownstoner needs to celebrate the fact that a house actually went to contract for under the asking after 5 months????
Excellent question and what happened to the 6 mths follow uo to HOTD?
one thing is for sure, there is going to be a whole lot of sceaming
Well I am single and bang men in my brownstone. No kids to speak of unless medicine’s got some fancy trick up it’s sleeve I don’t know about.
And I still like mine all the same.
If you bang enuff chicks you will soon have some screaming kids in narrow rooms
3:02 I would rather skip the family and bang chicks on the hood of my Ferrari. The memories of banging chicks on the hood sounds much more appealing then raising screaming kids in narrow rooms.
BRAVO 3:02!
Brownstones, Limestones and the like are like diamonds, ferraris and Chanel handbags.
The people who can afford them and buy them do not do so out of mathematical equations, but because they want and love them.
Period.
They also happen to make great places to live and excellent places to raise a family and create memories.
Unlike those three things I mentioned above.