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All Forum Posts by: Jeongmin J.

Jeongmin J. has started 6 posts and replied 9 times.

Post: interior door recommendation

Jeongmin J.Posted
  • Milpitas, CA
  • Posts 10
  • Votes 2

Thanks for the replies. I think trimming an over-sized door (56x96)  is a wise choice than adding a wall for a smaller door.

Post: interior door recommendation

Jeongmin J.Posted
  • Milpitas, CA
  • Posts 10
  • Votes 2

Hi,

I want to have an interior door installed but the opening is not a standard size. It is like 59"x95".

One handyman told me that the wall has to be modified to fit a regular sized French doors and it costs like $3000.

What would be the best door solution without breaking or adding the wall?

Post: Zestimate and other website price estimates?

Jeongmin J.Posted
  • Milpitas, CA
  • Posts 10
  • Votes 2

I found that my home has lower Zestimate (by Zillow) and the other website price estimates compared with other similar homes in the neighborhood. It is actually significantly lower than a bank appraisal. 

When I shopped around in Zillow, I took Zestimate as a convenient reference price. Now my home has much lower Zestimate. I wonder if this is something I have to worry about? Do people take the Zestimate seriously and affect their offer?

Post: Sell with $500k for tax benefit?

Jeongmin J.Posted
  • Milpitas, CA
  • Posts 10
  • Votes 2
Originally posted by @Alpesh Parmar:

Not a good idea. Any SFR in Bay Area goes for over $1M. Let's say you bought your property for $1M and its valued at $1.5M now. Here are the reasons:
1) Buy selling it now and then buying another property at $1.5M would increase your property taxes as property taxes would go with purchase price of $1.5M whereas you most probably will be paying way less taxes on your current residence.
2) you would be starting a new mortgage cycle and adding another 30 years of interest. You should know that with any mortgage, significant part of interest is charged up front.
3) you can't write off interest on new mortgage originated over $750K. This is another big issue in SF BAY AREA.

Post: Sell with $500k for tax benefit?

Jeongmin J.Posted
  • Milpitas, CA
  • Posts 10
  • Votes 2

My primary home has gained its value more than 500 K since my purchase. Further gain will be taxed as ordinary income. Should I sell the current home and buy a new one to take advantage of the tax benefit again?

Post: LLC for income property

Jeongmin J.Posted
  • Milpitas, CA
  • Posts 10
  • Votes 2

Hi,

is it common to set up LLC for income property in CA to protect from lawsuit despite $800/yr tax?

If it is so, how long does it take? Is it too late if I do after my offer is accepted?

If you have recommendation for real estate attorney, let me know. Thanks.

Post: Milpitas Vs. San Jose downtown

Jeongmin J.Posted
  • Milpitas, CA
  • Posts 10
  • Votes 2

Thanks, Scott.

Milpitas should be a safer bet. Willow Glen may be a similarly less risky bet for Goggle development.

Hi,

I am looking for investment opportunity around $1M in San Jose and Milpitas area and found that new condos has better price/sq than old condos. 

I know you have to wait sometime for construction and there are some issues to sort out in the first few months but the brand new one with lower price is still attractive. In addition, there is no bidding war.

Should I just go for a new one instead of looking around for the established? 

Post: Milpitas Vs. San Jose downtown

Jeongmin J.Posted
  • Milpitas, CA
  • Posts 10
  • Votes 2

Hi,

I am looking into investment property such as 3 bedroom condo in Milpitas and San Jose downtown area. It appears that Milpitas has better school but San Jose downtown has better appreciation up-side as BART will bring more jobs. I noticed that downtown condos have higher HOA. Which area do you think is better choice? Or do not buy now downturn is near?