April 25, 2008
I know there are a lot of people out there who really don’t want to hear any more about anything related to real estate. After all, the recent market turmoil has left many in a very difficult position. But learning to know the market and understand what is happening can actually help people take advantage of the current situation which still offers some possibilities for profit.
Just like with the stock market, when things go bad and homes are dumped on the market, this means bad news for many but with careful consideration can also indicate a buying point for others. Keep in mind thought that there are many factors that one must consider when getting into the real estate market that go well beyond supply and demand. There are heavy tax issues to consider among others. For instance, did you know that under the Under Internal Revenue Code (IRC) Section 1031, an owner can sell a real estate property and then go about reinvesting the proceeds in ownership of like-kind property thus deferring the capital gains taxes. This is commonly known as the 1031 exchange and can make a huge difference on the long run. If this is something that is relevant to you, be sure to check out 1031exchangealliance.com. They provide extensive information on the section 1031 act and provide answers to questions from property owners and prospected buyers.
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