Summit Real Estate Blog

Vacation Property & Second Home 1031 Exchange Guidelines

Vacation Property & Second Home 1031 Exchange Guidelines

I’ve had lots of questions lately about 1031 tax deferred exchanges and thought it might be time for an update!  This information is from Bankers Escrow Corp and Mary Lou Schwab.    Great News! The I.R.S. will not challenge whether a vacation ...

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Quarterly Sales Report for your area is available!

Quarterly Sales Report for your area is available!

Summit Real Estate's Quarterly Sales Reports are here! It is our pleasure to keep you informed on Summit County’s Real Estate Market. Click the hyperlink below, fill out the information required and you will automatically be directed to the sales ...

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Tax break for owners occupying a rental has changed

Tax break for owners occupying a rental has changed

Q. Allison, I bought a rental home three years go and have been renting it out ever since. If I move into the home now and live in it for two years and then sell it, will I qualify for the full $250,000 home-sale exclusion? A.The short answer is:  ...

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