Mercedes-Benz Forum banner

241 - 260 of 279 Posts

·
Premium Member
1983 380 SL
Joined
·
2,631 Posts
Australia has virtually closed it's doors. MAJOR disruptions in the economy, our dollar has tanked, billions of dollars being spent on pump priming but paradoxically no huge incidence of new cases yet. One wonders if this all could be a self inflicted fuck up.❓
It's actually much worse than a simple self inflicted f up... it's an intentional self-inflicted f up. There's a reason that all "reason" has vanished from the discussion and remedial actions to this virus.
 

·
Outstanding Contributor , Bob's Your Uncle!
-----'83 280 SL----- 5 speed....The PIG
Joined
·
29,338 Posts
Discussion Starter #242
2 showings today.
2 offers in the works.
Should know more by 18:00
2 showings today.
2 offers in the works.
Should know more by 18:00
SOLD! 2.5K over asking! Can't believe it.
 

·
R/C107 Moderator
1986 560SL: '84 500SL: '84 280SL 5 speed: other 107s
Joined
·
32,162 Posts
2 showings today.
2 offers in the works.
Should know more by 18:00

SOLD! 2.5K over asking! Can't believe it.
That is great news. Pretty amazing. Congrats (y)(y)
 

·
R/C107 Moderator
1986 560SL: '84 500SL: '84 280SL 5 speed: other 107s
Joined
·
32,162 Posts
Pretty sure it was the rental that sold not his main residence.
 

·
Registered
2005 SLK350, 91 300SL with Pano Top, 04 S500, 2015 Tesla Model S
Joined
·
2,084 Posts
I think Nobby sold his main residence and is moving into the rental until new house is built. Here in Canuck country you do not pay capital gains tax on the sale of your primary residence. If he occupies the rental for at least a year then that is deemed to be his new primary residence.
 

·
Outstanding Contributor , Bob's Your Uncle!
-----'83 280 SL----- 5 speed....The PIG
Joined
·
29,338 Posts
Discussion Starter #250
Yes....as MrElbe stated.
However, prior to moving into the rental I am getting the house appraised. I only pay capitol gains on the difference between original purchase and the moment I move in. We will sell that in three years and it should appreciate further.
 

·
Outstanding Contributor , Bob's Your Uncle!
-----'83 280 SL----- 5 speed....The PIG
Joined
·
29,338 Posts
Discussion Starter #251

·
Registered
1998 ML320, 1975 280C
Joined
·
71 Posts
Great news!
Remember to have the appraised BEFORE doing any "upgrades". Keeps the capital gains down a bit. And all the upgrades to your place that just sold should be a tax write off, if CA laws are like the US.
 

·
Registered
1987 300SL
Joined
·
27 Posts
2 showings today.
2 offers in the works.
Should know more by 18:00

SOLD! 2.5K over asking! Can't believe it.
FOMO in the real estate market has hit some parts here too, nobby
A LOT of auctions are not going ahead due to high offers prior to auction, higher than expected auction price
The fear seems to be the market contracting and stock becoming less available, so jump at anything now
Silly really, house prices will come down as we venture further into this health/economic crisis
 

·
Outstanding Contributor , Bob's Your Uncle!
-----'83 280 SL----- 5 speed....The PIG
Joined
·
29,338 Posts
Discussion Starter #255
Great news!
And all the upgrades to your place that just sold should be a tax write off, if CA laws are like the US.
No capital gains on primary residence = no tax write offs.
 

·
Outstanding Contributor , Bob's Your Uncle!
-----'83 280 SL----- 5 speed....The PIG
Joined
·
29,338 Posts
Discussion Starter #256
FOMO in the real estate market has hit some parts here too, nobby
A LOT of auctions are not going ahead due to high offers prior to auction, higher than expected auction price
The fear seems to be the market contracting and stock becoming less available, so jump at anything now
Silly really, house prices will come down as we venture further into this health/economic crisis
Odd, yes? Fortunately for some sellers.....there is still a small market of buyers that SOLD before the current episode of thinning the herd started and they need a place to live sooner than later.
And our house showed very well.:)
 

·
Registered
1986 560SL
Joined
·
47 Posts
Great news for you and interesting about the tax laws.

Our new house with large man case will be done in 90 days and the current house went on the market over the weekend. Not great timing but it is what it is. Real estate agents say that there is still a good market of people that need homes as you mentioned. Will hope we get lucky and find a good buyer.
 

·
Outstanding Contributor , Bob's Your Uncle!
-----'83 280 SL----- 5 speed....The PIG
Joined
·
29,338 Posts
Discussion Starter #258
The house past the inspection condition.
June 1 here we come.

Builder wants shovels in the ground late April. We'll see about that, under the current circumstances.
 

·
Registered
1986 560SL
Joined
·
47 Posts
Construction in the US is deemed essential with no real interruption of building. I know, I am living through it.
 
241 - 260 of 279 Posts
Top