Wilkes County, NC Real Estate Blog

1031 Exchange Tips for Vacation Home Owners

February 19th, 2008 9:49 AM

With increased pressure on the federal budget, federal legislators and the IRS are examining ways to reduce tax breaks and increase tax revenues. One area being closely examined is the tax provision that allows for 1031 ‘Like Kind’ Exchanges that defer taxes on the profits from the sale of investment properties, when the sale qualifies for a 1031 exchange.

One of the provisions of the current 1031 tax code allows for the exchange of farm and agricultural properties. This category is undergoing close scrutiny and may be eliminated entirely. Another part of the 1031 tax code, the exchange of vacation or second homes is likewise being reviewed. A recent court decision that disallowed use of the 1031 exchange process for a vacation home is seen as a warning sign that such exchanges may be more closely examined in the future. With that in mind, click here for an article from Realty Times that outlines the steps a vacation homeowner should take if they want to use the second home property as part of a 1031 exchange.

Story from 2ndhome.net

Posted by Shakti Rodriguez on February 19th, 2008 9:49 AMPost a Comment (0)

Just Listed! 405 Woodland Blvd Wilkesboro, NC 28697

February 29th, 2008 11:15 AM

$850,000.00
405 Woodland Blvd

Wilkesboro, NC 28697

Beds: 6.0	Rooms: 6
Baths: 5.00	Sq. Ft.: 5455.00
Garage: 2.0	Built: 1948

Carolina Realty Listing: ONE OF AREAS FINEST Main Level Remodeled 2006/2007. Kitchen: Monogram Double Stainless Refrigerator Thermadore Range 4 burners, griddle /grill & stainless ceiling hood both commercial grade; Double Ovens; 2 Bosch dishwashers Granite counter top in kitchen New HVAC throughout main & upper levels;Hepa Filter System;50yr SHANGLE(yes shangle) COPPER INFUSED ROOF;New Garage Doors;surround sound main;new copper gutters & flashing. Main Level is Open Floor

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

Shakti Rodriguez
Carolina Realty,Inc. - Shakti Rodriguez-Realtor
3362624077
www.investinnorthcarolina.net

Visit this listing at Here

Posted by Shakti Rodriguez on February 29th, 2008 11:15 AMPost a Comment (0)

To cut costs, move to small-town USA. Wilkesboro, NC for that Matter

February 12th, 2008 9:41 AM

Turns out the ultimate budget weapon may be a U-Haul. Many families relocated to areas where homes and daily life cost far less.

By Liz Pulliam Weston (Story taken from MSN-Money Central.com)

Real estate prices are stalling or even declining in some high-cost cities, but buying a home in a decent neighborhood is still just a dream for many middle-class families.

You can try stretching your finances to the bursting point or gambling on a less-desirable neighborhood. Or you can consider doing what many families have done: decamp to somewhere the cost of living makes more sense.

After all, where you live is probably the single biggest factor on your finances. A box of cereal costs pretty much the same everywhere, but a median-priced home ranges from under $100,000 in places such as upstate New York to well over $700,000 in parts of California.

A house payment one-seventh the size is tantalizing. There's a lot more to the decision than that, of course. Families flee the big city for very different reasons.

Some of My Personal Reasons for Relocating to a Small Town:

My Child's Education - living in a major metroplis comes with pros and cons, and a big con was over crowded schools with mostly undepaid teachers... this is a recipe for disaster, and one that my child should not have to bear. The altenative? Costly private schooling.

Wilkes County public schools are excellent with a descent teacher to student ratio. Their curriculum is A+, and well, the staff and employees are a joy to talk to (uncommon from my 'preious' life).

Traffic - need I say more. I have invented my own motto for the transaportation here in Wilkes: 'Twice the distance, half the time'. This is at least true from my previous home town. And even the driving is a joy because of the scenery...
Taxes and Insurance - wow. That was a pretty penny back home. Not so much here. First off, the County taxes based on assessed value and well, not many natural disasters are associated in our part of North Carolina, therefore the insurance rates are phenomenal (then again coming from we used to pay before).
Crime - Hmm... Not much. Call the police agency, call a local insurance company to get stats on how many break-in claims they have filed. The numbers are just heavenly. It's a breath of fresh air for my family and me.
Recreational Activities - We love to be outdoors and here and sorrounding areas there is much to do: horse-back riding, hiking, theme parks, wineries, skiing, ride our motorcycle, boating and much more. Don't get me wrong, I was able to do many things back home, but between the commute to get there and the wait (due to high number of people) it was just not worth it.
More Cluck for Your/My Buck - A property with several acres and a nice home would have been in the upper six-figures back home, but not here. We now privately enjoy our 'BACKYARD', with our dogs, horses and goats. We ride our ATV's in our backyard, and even went sledding in January (when it swoed) in our back yard. How cool is that? You can buy a nice home here for around $150,000, and sometimes, even less!

The grass is not greener on the other side, and many folks would not be able to live in a small town (I know this), but for those who are dreaming about it, or thinking about it... do it while you can enjoy it. Don't wait until last minute. Wilkes County does not have nightclubs or a surplus of restaurants and big shopping malls, but all this is a short and scenic drive away. But all that we need is here at home: hospital(s), restaurants, shops, movies, art galleries, community college. Come and visit Wilkes and see why my family and I immediately fell 'head-over-heels'.

Posted by Shakti Rodriguez on February 12th, 2008 9:41 AMPost a Comment (0)

Wilkes Visitor Center/Rest Area Ccontract OK'd

February 10th, 2008 8:19 PM

Friday, December 7, 2007 By Jim Sparks WINSTON-SALEM JOURNAL REPORTER

The N.C. Board of Transportation approved a $10 million contract yesterday for the construction of an environmentally friendly rest area and visitor center on U.S. 421 in Wilkes County.

The board, which met yesterday in Raleigh, awarded the construction contract for the rest area to James R. Vannoy and Sons Construction Co. of Jefferson. Work is expected to start in January and be finished by September 2009.The new, 22-acre rest area will be on the north side of the highway about a mile west of the N.C. 115 exit. It will include a 10,000-square-foot restroom area and visitor center, an 87-space parking lot for cars and tractor-trailers, picnic tables, a pet-exercise area and a walking trail.

Wilkes County provided the property for the project, while Wilkesboro is providing water and North Wilkesboro the sewer service to the site, said Mike Pettyjohn, a division engineer with the N.C. Department of Transportation in North Wilkesboro.

Wilkes County will be responsible for staffing the visitor center. How that will be done has not been decided by town and county officials, Pettyjohn said.

Because the new rest area will be the only one on U. S. 421 west of Winston-Salem, it has been sorely needed, he said.

A rest area on U. S. 421 in eastern Watauga County was closed several ago after the highway was moved to a new section of roadway between Deep Gap and Boone.

“If you’re coming from the east the last rest area you pass is on Interstate 40 in Alamance County,” Pettyjohn said. “So having a rest area in Wilkes County, it should be a big benefit to the traveling public, while the visitor center will serve as a gateway to the whole northwest mountain area.”

For the rest of the story, click HERE.

Posted by Shakti Rodriguez on February 10th, 2008 8:19 PMPost a Comment (1)

Know What Is Happening in Wilkesboro, NC: Visit my Local News Link

February 5th, 2008 3:54 PM

I have created many custom pages which are constantly updated, and one of these is my Local News link, in which I post articles that I think may be interesting to those folks learning about the area and wanting to learn what is going on in and around Wilkes County, North Carolina.

My specialty is real estate, and I suggest to all my clients to do some homework on the area they are looking to invest in and possibly call their "home". That is why I dedicate so much time to my site, because for many it will be the first point of contact to anything Wilkesboro Real Estate and Wilkes County Real Estate.

Please feel free to browse around. I have pages dedicated to:

area information
upcoming events
community links (hospital, economic development, education...)
area maps
local weather
relocation information
retirement information
a photo gallery
and much more...

And of course, any question you may have that I have not addressed on my site, please contact me. I am here to help you! Sincerely, Shakti Rodriguez

Posted by Shakti Rodriguez on February 5th, 2008 3:54 PMPost a Comment (0)

Wilkes County, NC Real Estate Blog

Turns out the ultimate budget weapon may be a U-Haul. Many families relocated to areas where homes and daily life cost far less.

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