Real estate ?, desire response from Atty's, esp, daringly

postaldoug · Sep 18, 2004

I own a condo, lived in for over 3 years, worth about 200-250k, bought for 155k. I 've got another one paid 70k, about 3 years ago, now worth about 100k. Both are paid in full, no mortgages.

I'm no lawyer ! I do know you have to live in for 3 years. Can I sell the bigger place, kick tenant out, move into smaller unit, stay 3 years, be cool with IRS ?, or do I need to move to a yet larger ( more costly ) unit ?

In other words, I want to downsize, kids are 19+ years old, a 1 bedroom would suffice. I don't need 2 + bedrooms, 2.5 baths +. No more children are coming.

Can I move into the "other" condo, without much penalty ? I like it a lot better, also, it's smaller but has a sauna, hot-tub, pool, clubhouse,etc. Present place offers nothing, unless you like nosey neighbors, and petty arguements.

To be fair. The smaller condo is in a much higher crime area, but I'll make the trade, white A-holes, can be just as bad,or worse which is what I have here.

Where I live is fucked, about 60 units, maybe 200 people, every last one white, I think I'd have noticed the black guy ( probably a doctor !), by now ! at the mailbox, he never comes there !

I don't say I want to be the one white dude, in an all-black place, but some diversity is welcome !

This artificial 100% caucasion, sterile place, I live at isn't real, either. I hate it !

Doug

WildBill · Sep 19, 2004

Was this a real question or just a chance to sound racist?

If it was real, the tax code on this is fairly simple. If you have lived in a place for at least 2 years during the last 5 years, you can sell it with no taxes due on the first $250k of profit for a single filer, $500k for a married couple provided you have reasonable proof that the place was your primary address during those 2 years. Mortgages have no effect on it, all based on your capital gain which is the difference between your selling price and the price you bought it at plus any improvements you made to the place. Sounds like you could sell the first and after two years of living there have three more years to sell the cheaper one and not have any taxes due.

postaldoug · Sep 19, 2004

Quick response to WB; It's real, not racist.

I'm suppossed to be a white guy ( I am), that's racist against other,caucasions or something ?

I've disagreed with you before WB !

I live in in a place that's 100% white, don't think it's right, and I'm racist ? Cheese and rice ! I think my post encourages integration, if anything.

I'd sell my condo to an Afro-American, no problem, in fact I'd like to. I rented the other condo to an inter-racial couple, for a time. White guy, black wife.

I'm no racist SOB ! I'm color blind ! I'd like to darken the complexion here, because it needs to be done, not to spite any neighbor.100 % white, ain't right !

Damn Bill, you make me sound like a honkey, that hates whites, I'll accept you regardless of your race. No joke.

Doug

WildBill · Sep 19, 2004

What??? You are the one mentioning "high-crime area" and then making all the comments about race. I said no such thing about you, just wondering where the hell you were going with all that. You certainly could have asked your questions and illustrated your situation without a single mention of race, but you went there and then some so it just made me wonder.

postaldoug · Sep 19, 2004

WB; I never correlated "high Crime area" to non-caucasian dominated condo complex. I said I prefer a more racially diverse place to the artificial place ,I live at, or words to that effect.

After re-reading my original post, I don't see where I come off as racist, if that's the way I'm taken, it's not my intent.Quite the opposite.

I pointed out the phony nature of living in a place ( Which I hate ), that doesn't reflect the true racial mixture of our society. A lilly white place, probably has a lower crime rate than a truer sampling of society, but it's an artificial environment.

I think the whole segregation thing is wrong. Attending my step-daughter's HS graduation illustrated it well. About 300 in the class, probably no more than 5 Afro-Americans ( a term I dislike, blacks call themselves black , not AA), not very many hispanic sounding names were called either.

I've lived in many states, and cities, and recognize that my present community is non-reflective of society, as a whole. Actually few places are so segregated as the part of CT , I live in. The really sad thing is these people that live here, don't even realize it !

I value diversity. I've found in my life, most people are dumb as dirt. The very people that are racist, and complain about recent immigrants, have no clue that if they traced their origins back 100 years, or so, they would find they are the very people they complain about.

The native Americans ( so-called... Indians), are the people most screwed over in America.The AA's aren't too far behind.Most of my AA friends use the term black. It's not derogatory, colored is too 1960's ish, Afro-American is too PC, black seems to be accurate and acceptable. White people don't call themselves caucasian, to my knowledge.

I never intended this thread to take this tilt, but since I started it, I'll reply. At least I put it in RR from start.

If any posters think I'm wrong about this, I'll listen.