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Welcome > Resources > Trivia ...We've added these real estate trivia questions for your enjoyment. And you might learn something new in the process! Have fun...
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What is considered one of the few remaining tax shelters in the 1990s?
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Homeownership--property taxes on a residence or vacation home are deductible up to $1 million.
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What city boasts eight of the world's ten biggest hotels?
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Las Vegas has eight of the largest resort hotels; the latest and most extravagant is the $2.7 billion, 2,716-room Wynn Las Vegas.
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What is the largest city square in the world?
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Located in Beijing, China, Tianamen Square, called the "Gate of Heavenly Peace", covers 98 acres.
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What famous American building was originally built in 1792, burned and rebuilt 1814-1818 and restored in 1952?
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The White House in Washington, D.C., modeled after an Irish palace, is a sumptuous example of post-colonial architecture.
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In what area of the United States did the price of existing homes increase most dramatically in 2005?
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Phoenix, Arizona real estate recorded a 55.2 percent increase in home prices during 2005.
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Estate Trivia >
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Investment Real Estate >Investment Property Exchanges
When you buy an investment property, there are two important financial goals to consider. You will want a property capable of producing rental income. When you sell, you hope that the property will have appreciated enough that you will earn a good profit on your investment. If your property has enjoyed a healthy appreciation, you may need to do some careful planning to avoid paying out most of your profits in the form of capital gains taxes.
When selling your primary residence, you may be able to defer your capital gains taxes when you buy your next home. This does not apply, however, to investment property. If you sell one property then purchase another, the taxes will be due for the year the sale occurred. On the other hand, if you arrange to trade one property for another, you may be able to defer the capital gains tax.
It is not as complicated as it sounds! Many real estate agents and attorneys specialize in helping their clients put these kind of transactions together. You don't have to trade buildings with the people buying your property. The property you trade may belong to a third party, and your buyers need only cooperate with the closing attorney to make the transaction work.
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NUMBER1EXPERT®
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