How Do the New Tax Laws Impact Manhattan Beach Property Owners?

Here’s a helpful chart to see how the changes in the tax policy impacts Manhattan Beach and all California property owners. With the recent changes there are some significant impacts and tax implications.

PREVIOUS LAW 2018 LAW
MORTGAGE INTEREST DEDUCTION Capped at $1M Capped at $750,000
STATE AND LOCAL TAX DEDUCTION Unlimited Deduction capped at $10,000 (income, sales and property combined)
CAPITAL GAINS EXEMPTION ON SALE OF PRIMARY RESIDENCE Exclusion of up to $250,000 ($500,000 if married) of gain realized on sale or exchange of principal residence if lived in
for 2 of the last 5 years
No change
1031 LIKE-KIND EXCHANGES Applied to all classes of property (e.g. personal and real) Limits non-recognition of gain to real
property
PERSONAL DEDUCTION Allowed Eliminated
STANDARD DEDUCTION $6,350 individual and $12,7000 if married $12,000 individual and $24,000 if married
MID FOR SECOND HOMES Capped at $750,000
HOME EQUITY LOAN DEDUCTION Capped at $100,000 Not deductible unless the proceeds are used to substantially improve the property
MOVING EXPENSE EXCLUSION AND DEDUCTION Incurred in connection with change in work place Eliminated except for members of armed forces on active duty that move pursuant to military orders
CHILD TAX CREDIT $1,000 for each child $2,000 for each child
DEDUCTION FOR QUALIFIED BUSINESS INCOME OF PASS-THROUGH ENTITIES INCLUDING INDEPENDENT CONTRACTORS None 20% deduction of taxable income phased out above $157,000 ($315,000 if married) for brokerage services
DEPRECIATION RECOVER PERIOD FOR REAL PROPERTY (RESIDENTIAL RENTAL) Recover period is 27.5 years No change
DEPRECIATION RECOVER PERIOD FOR REAL PROPERTY (NONRESIDENTIAL) Recover period is 39 years No change
DEPRECIATION RECOVER PERIOD FOR REAL PROPERTY (LEASEHOLD IMPROVEMENTS) Recover period is 15 years No change

Vista Sotheby’s International Announces their 2016 Top Producing Realtors

Vista Sotheby’s International, one of the top real estate firms in the South Bay area of Los Angeles have recently introduced their “Top Producers” for 2016. With offices throughout the area including Manhattan Beach, Hermosa Beach, Palos Verdes, Redondo Beach and the Hollywood Riviera, Vista Sotheby’s has quickly become the dominant force in the local real estate market.

We are proud to annouce that Manhattan Beach realtor Keith Kyle was one of the top agents companywide and was the #9 top producing agent for 2016.   Congrats to all of the realtors given the award.  See also the Vista Sotheby’s top producers for 2015.

We wanted to thank all of our clients and friends that helped make 2016 such as successful year in real estate.

Vista Sotheby’s International Announces 2015 Top Producers

By Keith Kyle

Vista Sotheby’s International Realty, with offices in Manhattan Beach, Hermosa Beach, Redondo Beach and Palos Verdes recently announced their top producing realtors for 2015.  We were very proud to be included in announcement and we were recognized as the #12 Realtor in 2015.  Thank you to all or our clients for putting their trust in us and making 2015 another successful year.

Vista Sothebys 2015 Top Producing Realtors

Keith Kyle has been a top producing agent for both South Bay Brokers and Vista Sotheby’s since 2007.

Vista Sotheby's Top Producing Agents

 

 

Vista Sotheby’s International Announces 2015 Top Producers

Vista Sotheby’s International, with offices in Manhattan Beach, Hermosa Beach, Redondo and the Palos Verdes Vista Sotheby's Top Producing AgentsPeninsula, recently announced their 2015 top producers.  We were proud to be the #12 realtor in this prestigious real estate brokerage. Keith Kyle Vista Sotheby's Top Producing RealtorKeith has been a consistent top producing realtor with both South Bay Brokers and Vista Sotheby’s International since 2007.

Vista Sotheby’s International merged with South Bay Brokers in 2015 to create a real estate firm with a local knowledge combined with an unparalled global reach.  Learn more about Manhattan Beach realtor Keith Kyle and Vista Sotheby’s International.

Those That Live In Glass Houses – Pat Killen Design at 610 12th in Manhattan Beach

Recently brought to market by John Bathurst of Vista Sotheby’s in Manhattan Beach, this stunning home, designed by renowned architect Patrick Killen, offers the discerning buyer a showcase home in this luxury coastal community.

Located in the American Martyr’s neighborhood, this amazing modern, architectural masterpiece was designed by Manhattan Beach Modern Housesthe legendary Patrick Killen. This home gracefully juxtaposes solid + transparent volumes under a dramatically cantilevered roof. The facade is composed of alternating cubes of cool, blue-tinted glass and warm, reddish-brown mangaris. The home has recently been updated throughout. First floor, there is a home theater & entertainment area that gives way to a peaceful open-air terrace, guest bedroom w/ensuite bath and separate powder room. Second level, there is the master suite + bath with and oversized bath/shower combo, a separate glass enclosed sitting area for peaceful reading + relaxing and ocean views. Glass FloorThere are two additional bedrooms w/ensuite baths. The top level is the height and heart of the home. An open and spacious floor plan, there is a warm wood office w/a private back patio w/BBQ + views of Palos Verdes and Catalina. Also a cozy living room, gourmet kitchen w/wenge cabinets, Viking appliances and bright cesarstone counters, dining area, second living room w/wet bar and spectacular views from the open air deck. The house is complete with a top of the line AV/entertainment system, AC, radiant floors and 3-car garage.

Contact us for a private viewing of this beautiful home

We're sorry, but we couldn't find MLS # SB16037873 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Sotheby’s International Realty Offers Some Big Online Exposure

By Keith Kyle

Sotheby’s International continues to expand it’s online presence in the global real estate market as these latest numbers indicate.

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South Bay Brokers Merges with Vista Sotheby’s International Real Estate

By Keith Kyle

The recent merger between South Bay Brokers and Vista Sotheby’s International has shaken up the local real estate market with the new Vista Sotheby’s becoming a powerful force in the South Bay and Palos Verdes.  With multiple offices in Manhattan Beach and Redondo Beach, and offices in Hermosa and Palos Verdes, the new company offers the same local knowledge and expertise but with a global reach that will be hard to match.  Contact top producing agent Keith Kyle in the Manhattan Beach office to find out how Vista Sotheby’s International may be able to help with all of your real estate needs.

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