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  #46  
Old 01-20-2020, 11:30 PM
bpascani bpascani is offline
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Our agent is awesome Jim Amidei 352 572 8747. Very professional, patient and caring about what your needs and wants are.
  #47  
Old 01-24-2020, 11:23 PM
KRM0614 KRM0614 is offline
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Probably not that would horrible. I can tell you I purchased a house here it was a huge mistake - property taxes went up 25% HOA fees unlimited the CDD bond never goes away - I’m selling when my year is up I get you didn’t know that if you sell your house in less than a year the villages keeps your profit.

God was looking out for you I’m selling once my year is up.
  #48  
Old 01-25-2020, 05:19 AM
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asianthree asianthree is offline
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Quote:
Originally Posted by retiredguy123 View Post
The current population in The Villages is 98 percent White, 1 percent Hispanic or Latino, less than 1 percent Asian, and less than 1 percent Black.
We didn’t have any problems buying our 3 homes. But your percentage is a little off.
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  #49  
Old 01-25-2020, 05:31 AM
Aw Man Aw Man is offline
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Default Look out for capital gains tax on sale of real estate owned less than 2 years

Quote:
Originally Posted by KRM0614 View Post
Probably not that would horrible. I can tell you I purchased a house here it was a huge mistake - property taxes went up 25% HOA fees unlimited the CDD bond never goes away

- I’m selling when my year is up I get you didn’t know that if you sell your house in less than a year the villages keeps your profit.

God was looking out for you I’m selling once my year is up.
You might want to consider waiting to sell until after you've been in the home for 2 years.

If you own the property for less than 2 years in the 5 year period before you sell it, the capital gains tax exclusion on sale of real estate is no longer applicable.

You may end up owing the IRS capital gains tax on the entire amount of any gain you realize in selling the home.

The tax rate on your entire gain could be 15% (if your annual income is more than $39,000 as a single filer and $79,000 as a married filer)

Last edited by Aw Man; 01-25-2020 at 05:39 AM. Reason: Added tax filing info.
  #50  
Old 01-25-2020, 07:55 AM
retiredguy123 retiredguy123 is online now
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Quote:
Originally Posted by KRM0614 View Post
Probably not that would horrible. I can tell you I purchased a house here it was a huge mistake - property taxes went up 25% HOA fees unlimited the CDD bond never goes away - I’m selling when my year is up I get you didn’t know that if you sell your house in less than a year the villages keeps your profit.

God was looking out for you I’m selling once my year is up.
The Villages rule about not making a profit if you sell within a year is very deceptive. When you sell, you are allowed to exclude from the profit calculation, the real estate commission, and 100 percent of the cost for any upgrades you made. The real estate commission is a fee paid by the seller, and should not be included in the sale price. Also, a seller should only expect to recover a part of the upgrade costs in the sale price. It's great for the seller to be able to recover these costs within a year, but, as a buyer, I would consider them to be profit items. I had an agent show me a house that was only 8 months old and priced at more than $100K above the new price that the seller paid. The agent's sales pitch to me was that the seller would not be making a "profit". I disagree.
  #51  
Old 01-25-2020, 08:13 AM
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CWGUY CWGUY is offline
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Quote:
Originally Posted by Aw Man View Post
You might want to consider waiting to sell until after you've been in the home for 2 years.

If you own the property for less than 2 years in the 5 year period before you sell it, the capital gains tax exclusion on sale of real estate is no longer applicable.

You may end up owing the IRS capital gains tax on the entire amount of any gain you realize in selling the home.

The tax rate on your entire gain could be 15% (if your annual income is more than $39,000 as a single filer and $79,000 as a married filer)
Very good point...... so lets hope they do more due diligence on selling than they did buying.
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