From all of us at Manhattan Beach Luxury Real Estate, Vista Sotheby’s International Realty and Manhattan Beach real estate specialist Keith Kyle, we wanted to wish you and your family a very happy Thanksgiving. Enjoy and stay safe.
From Manhattan Beach luxury real estate, Vista Sotheby’s and Manhattan Beach realtor Keith Kyle, we wanted to wish you and yours a very happy Labor Day weekend. It’s going to be a hot one!
Enjoy and stay safe.
From us at Keith Kyle Homes, Vista Sotheby’s International Realty and Manhattan Beach Luxury Real Estate we wanted to wish you and yours a very happy 4th of July weekend. While there may not be any fireworks and the beaches may be closed it’s still a time to celebrate!
The number of home sales in Manhattan Beach was really starting to increase during the first few months of 2020. The red line below shows pending sales and it’s hard not to notice the decline into December and then the sharp turnaround in 2020. It’s hard to imagine that the impacts of Corona virus won’t temper that considerably but only time will tell home much of an impact it will actually have. The chart below offers a snapshot of the Manhattan Beach real estate market over the past 15 months. The light green bar shows active listings, the dark green is sold homes per month and the red line is the pending home sales. View all of the recent Manhattan Beach real estate trends and statistics.
Vista Sotheby’s recently announced their top 25 agents for 2018 and local Manhattan Beach real estate specialist Keith Kyle was named as one of the highest producing realtors for the year. Vista Sotheby’s International has consistently been the top selling brokerage in the South Bay with over 250 full time agents. We are proud to, once again, be named to the list of top producing agents at Vista Sotheby’s International Realty. We wanted to thank all of our friends and clients for putting their trust in us and hope we can earn your trust as well.
Keith has been a full time licensed realtor since 2005 and has been recognized as a “top producer” at both South Bay Brokers and Vista Sotheby’s since 2007. See Keith Kyle’s bio and background information on our about your realtor page.
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
|1031 LIKE-KIND EXCHANGES||Applied to all classes of property (e.g. personal and real)||Limits non-recognition of gain to real
|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|