Friday, January 25, 2008

1031 Exchange Identification Rules 101

3 property rule - identify 3 properties and then close escrow on one, two or three of them. This is the most commonly used rule.
200% rule - identify up to an aggregate of 200% of the value of the relinquished property. You then must close escrow on one or more of them. No limit to the number of properties identified as long as they total in value no more than 200% of the relinquished value. Common when going in to a lower priced area or coming from a high priced single property.
95% rule - unlimited number to be identified and you must close escrow on 95% of the properties that are identified. Common when buying a block of condos with separate parcel numbers which are run as an apartment building.
If you want any guidance on how to use these rules or how to navigate the dates of the 1031 exchange process, give me a call or drop me a line. I think I've seen it all!

Santa Clara County (REO) Bank Properties Available

This is our updated list of bank owned REO homes available in Santa Clara County:

Address, City, bedrooms/baths, square feet & asking price:

QUICKERT RD, SARATOGA 6/5.5;4707 $2,175,000
ALDRICH WAY, SAN JOSE 3/2;1220 $513,900
BERRYWOOD DR, SAN JOSE 3/1;900 $439,900
CHAPEL HILL WAY, SAN JOSE 5/2;1593 $477,500
CHULA VISTA DR, SAN JOSE 2/1;1168 $574,900
CURTNER AVE, SAN JOSE 3/1.5;1635 $564,900
EASTON PL #42, SAN JOSE 2/2;975 $269,900
FLEDERMAUS, SAN JOSE 3/1;1176 $319,900
FLORENCE AVE, SAN JOSE 2/1;896 $419,900
FOOTHILL CT, SAN JOSE 4/2.5;2124 $649,900
JUDITH ST, UNIT #3, SAN JOSE 2/1;903 $249,900
LANIER LN, SAN JOSE 3/2;4791 $499,900
LANTERN WAY, SAN JOSE 3/2;1152 $459,900
N 14TH ST, SAN JOSE 2/1;1064 $399,000
ORLEANS DR, SAN JOSE 4/2.2;1352 $539,900
PEBBLE CT, SAN JOSE 2/2;1045 $369,900
S. 12TH ST #109, SAN JOSE 2/2;1130 $384,500
S. 20TH ST, SAN JOSE 3/2;1247 $500,900
SPIRO DR, SAN JOSE 2/1;938 $400,000
SUTTER ST, SAN JOSE 2/1;928 $369,900
TERILYN AVE, SAN JOSE 3/1;960 $374,900
TERILYN AVE, SAN JOSE 3/2;1178 $399,900
WARRING DRIVE #3, SAN JOSE 2/1;903 $284,000

Give us a call to see any of these great opportunities.