Listing #11060425
$175,000 (LP) SOLD for $185,000
Price/SqFt: 89.54
2900 Logansport Way, Sacramento, CA 95835 * Active Short Sale (04/30/12) DOM/CDOM: 0/0 Beds: 3* Baths: 3 (2 1) (FH)* Sq Ft: 1664* Lot Sz: 0.091ac* Area: 10835 Yr: 2003*
This is a clean 3 Bedroom/2.5 Bath KB home that is move-in ready in Natomas. It has 2-stories and is 1664 square feet. The Great room has a gas fireplace & media niche ceiling fan and high ceilings, . Kitchen w/granite counters, black appliances & maple cabinets & tile flooring. Master suite w/walk-in closet, spacious bathroom w/double sinks, seperate shower & soaking tub. Upstairs open den could be a game/entertainment area or office/study. Backyard landscaped; patio has stamped trim. Short Sale in Natomas. Contact Tom Gonsalves (Gonsalves Real Estate Properties) a local Real Estate Agent and Broker. Listing #11060425 $175,000 (LP) SOLD for $185,000 Price/SqFt: 89.54 2900 Logansport Way, Sacramento, CA 95835 * Active Short Sale (04/30/12) DOM/CDOM: 0/0 Beds: 3* Baths: 3 (2 1) (FH)* Sq Ft: 1664* Lot Sz: 0.091ac* Area: 10835 Yr: 2003*
3 Comments
We found Tom through yelp back in Feb 2011 - for last few months he spent most of his weekends running around with us in helping us find a good investment property in Sacramento. Tom made the home buying process to simply and was very helpful. Tom is extremely friendly and knowledgeable, would definitely recommend him to all my friends and family.
Suresh Chand --------------- Tom and his associates helped me short-sell my house after an unexpected turn of events required me to do so. The whole process went much smoother than I ever would have anticipated, and Tom was always available when I had questions or concerns regarding the short-sale process. He is highly knowledgeable and professional. He even wears a suit. All jokes aside, I would highly recommend him to others looking to sell (or buy) a home. John Hall --------------- Tom sold my house back in Feb of 2010 and I could not have been more impressed with his professionalism, knowledge of the East Sac housing market, and his ability to deal with me (I'm slightly high strung); I would recommend Tom to anyone looking to sell or buy. Oh yeah, he's an all around good guy too :) Bill Hansen --------------- I worked with Tom in December 2006 when purchasing my first home, and I couldn't have been more satisfied. Tom is the consummate professional and goes above and beyond to make sure that his clients are taken care of. I was very picky when deciding what type of home I wanted, and Tom showed me approximately 30 different properties before I finally decided on the one I wanted to buy, and constantly researched new properties for me as my tastes and needs evolved. That type of customer service is so lacking in today's world, and having that type of dedication during such an important decision making process is invaluable. I will work with Tom in the future for every real estate need that I have. He has a customer for life in me! Christine Arichibald ------------------ As a first time home buyer Tom made me feel comfortable throughout the entire process. He was more than accomadating with our needs and really understanding. In this economy buying a house can be hard for anyone regardless of credit. Tom was a pleasure to work with and he got the deal done. Tom helped put my wife and I in our dream home and I can't thank him enought. But I will try to next weekend when we are having a BBQ in my new backyard. Henry and Tina de Vere White ------------------- After hearing my friends' poor experiences with their real estate broker, I decided to try my luck on finding someone else for myself. I found Tom on Yelpa few months back. After reading all the five star reviews here, I proceeded to send him and email to see what he is about. I needed someone who is extremely responsive to emails, also very tech savy, and very willing to provide inputs of the properties (since I am not very familiar with the areas). Tom delivered all that and more. On top of that, Tom is a pretty cool dude to boot. If you need someone who is up to the task, and not beat around the bush, Tom is your guy. I would not hesitate to recommend anyone I know to him. I will be looking forward to work with him again in the future. Matt Kwong ------------------ Tom was a fantastic real estate agent--I worked with him recently on a short sale transaction in east sac. he is very knowledgeable about short sales and can help you navigate what can be a challenging process. He saved me money on the real estate fees by standing firm on negotiations where appropriate. He is pleasant, friendly, and a great communicator. He will serve you well on your next real estate transaction. Kathleen Kenny ---------------- Tom is a very knowledgeable and experienced agent. The key to his success is that he possesses a motivated but also realistic mentality when communicating back and forth on a deal. I have nothing but positive things to say after my first experience listing a property with Tom and experiencing his balanced approach first hand. The experience went so smoothly that I have since given Tom a few additional listings. He has my confidence and support. I would recommend him to anyone looking to buy or sell property. Bay Miry -------------------- Here's the bottom line: If you are going to enter the Sacramento real estate market in 2011 to either buy or sell, contact Tom Gonsalves. We did, when we were looking for a house for our daughter and received top notch service from Tom. He patiently and enthusiastically carted us around to several homes in different Sacramento neighborhoods that were priced within our daughter's means. When we picked one, he saw to every detail and arranged financing with a local mortgage provider that reflected his professionalism. We unconditionally recommend Tom Gonsalves for your realty needs. I like to call him "Tommy". You should, too. Steve Archibald ---------------------- As one of the top Sacramento Real Estate Agents on Yelp I am blessed to have so many of my past clients write reviews on our Real Estate Services. It is our goal to continue to be at the top of the Yelp search engine as we want to continue to please the clients that find us online. Great established neighborhood near Land Park with lots of mature trees and well kept landscaping. Corner lot with large bedrooms, and hardwood and hardood laminate floors. Updated bathrooms. Contact Tom Gonsalves one of Sacramento top selling Real Estate Agents in Land Park and successfully close you Short Sale in Sacramento.
Beautiful home for sale in East Sacramento on a quiet street. Original charm with all the modern upgrades! Dual Pane windows, central HVAC, brand new kitchen with granite countertops, classy tile flooring and stainless steel appliances. Indoor laundry with stackable washer and dryer. Newer roof, new paint inside and out, designer light fixtures and custom finished throughout the home. (basboards, crown molding, built-ins) Original hardwood floors are in outstanding shape. Must see as this will go! Contact Tom Gonsalves a Sacramento Real Estate Agent and owner of Gonsalves Real Estate Properties.
Listing #11051583 $284,900 (LP) Price/SqFt: 303.09 68 Coloma Way, Sacramento, CA 95819 * Active (07/14/11) DOM/CDOM: 0/18 Beds: 2* Baths: 1 (1 0) (FH)* Sq Ft: 940* Lot Sz: 0.129ac* Area: 10819 Yr: 1950* Do I have a tax liability if I short sale my primary residence?
Many people are under the impression that due to the Mortgage Debt Relief Act they will have no tax liability when short selling a residential property. This is not always the case. The Mortgage Debt Relief Act applies to individuals short selling their primary residence and only applies to qualified principal residence indebtedness. This Act also expires on 12/31/12. Individuals who short sell a home will receive a 1099-C from the bank. This 1099-C is reported to the Federal and State taxing agencies and must be reported on the Federal and State tax returns. If the property in question is an individual’s primary residence, and the entire amount owing is qualified principal residence indebtedness then there will be no tax for Federal and State purposes. 2. What is qualified principal residence indebtedness? Qualified principal residence indebtedness [according to IRC Sec 108(h)] is the money, up to $2,000,000 ($1,000,000 if MFS) of debt incurred to acquire, construct or substantially improve the taxpayer’s principal residence. A refinancing of such debt also qualifies. The debt must be secured by the residence, and the taxpayer must have lived in the residence for 2 of the last 5 years. 3. How do I report the short sale of my rental property? Short selling a rental property can be difficult to compute because there is a lot more to consider. Firstly, you must address whether or not the amount due on the loan is money used to purchase, construct or substantially improve that specific property. If there is only one loan on the property and that loan was used to purchase the property then the equation becomes much simpler. The cost basis on the property is the total purchase price plus improvements to the property less accumulated depreciation. This will give you the adjusted cost basis of the property. If the sales price is less than that amount you will generate an ordinary loss on your tax return. The other side of the equation is the ordinary income you will report as a result of receiving debt cancellation reported on a 1099-C. More frequently then not the amount of ordinary loss from the sale of the rental can negate all or a portion of the ordinary income from the cancellation of debt. If you find that you have more cancellation of debt than you do loss from the sale of the property then it is always important to consider the taxpayer’s level of insolvency. Insolvency can be another way of excluding the income. This is something that must be looked at very carefully and can get tricky, however it often benefits the taxpayer to have a professional with experience in this area to take a look at your specific situation and give you an idea of where you stand. 4. How do I know if I am insolvent? Insolvency applies when a taxpayer’s total debts exceed their total assets. To compute insolvency the taxpayer must complete the insolvency worksheet and include this information with IRS Form 982 with their tax return in the applicable year. The important thing to understand about insolvency as it relates to cancellation of debt from the sale of property is that your insolvency must be calculated immediately preceding the sale. This calculation must be completed before the property sells in order to report correctly even though the transaction is not reported to the IRS until the annual filing of the tax return. Additionally, when claiming the insolvency exemption a taxpayer may have to reduce tax attributes in the following year, meaning a Net Operating Carryover or a Capital Loss Carryover or possibly the basis in other real property owned by the taxpayer at the beginning of the following year. This is again a very complex issue and must be analyzed with a tax professional in order to understand to what extent these effects will be implemented in each individual case. 5. What happens if I am partially solvent? If you complete the computation and find that you are solvent by $20,000 but your debt forgiveness is $50,000 then you will only include the $30,000 in your taxable income for both Federal and State purposes. If you find that you are insolvent by an amount greater than your canceled debt then you will have no tax liability to either Federal or State. Thanks to Dona Riolo for writting this great article! This information was a great resource for Gonsalves RE Properties clients. Contact us the top selling Sacramento Real Estate Agent. WATCH VIDEO ON THIS HOME NOW
The beautifully maintained Downtown Sacramento 1906 Craftsmen style home will blow you away! The entry sits high off the street and presents a large comforable porch perfect for people watching. There are 3 bedrooms and 1 bathroom on the main floor which has been tastefully updated. 1392 sq.ft with granite countertops, tile flooring, gleaming hardwood floors, coved ceilings, brand new lathe and plaster throughout, new paint inside and out, freshly paved back patio with private enclosure. Full finished basement with a full bathroom and a kitchen!!! Contact Tom Gonsalves a Top selling Sacramento Real Estate Agent. SALES PRICE $469,900 905 T St, Sacramento, CA 95811 * Active (06/22/11) DOM/CDOM: 0/0 Beds: 3 Baths: 1 (1 0) (FH)* Sq Ft: 1392* Lot Sz: 0.100ac* Area: 10811 Yr: 1906* The beautifully maintained 1906 Craftsmen style home in Downtown Sacramento will blow you away! The front portch and entry sits high off the street and presents a grand entry and large comforable portch perfect for people watching. There are 3 bedrooms and 1 bathroom on the main floor which has been tastefully updated. 1392 sq.ft with granite countertops, tile flooring, gleaming hardwood floors, coved ceilings, brand new lathe and plaster throughout, new paint inside and out, freshly paved back patio with private enclosed fence around the property. The best is yet to be mentioned....FULL FINISHED BASEMENT with a kitchen and a bathroom and HUGE attic space with stairs going up! Contact tom Gonsalves a Downtown Sacramento Real Estate Agent.
What is going on in the East Sacramento Housing Market?
Good question! We represent many sellers and buyers in East Sacramento and both have one thing in common. It is a challenging market. My sellers have the challenge of a declining market place saturated with picky buyers who think they are buying a new home... My buyers have the challenge of limited inventory and sellers that still think their house is worth 400 a sq. ft. Who is right and who is wrong? Good question! I don't believe that it is a matter of right and wrong, I think that it is a matter of logical thinking and doing the appropriate research to make a good decision. When working with both buyers and sellers we make it clear to both parties that there needs to be a market analysis (within the last couple of months directly around the property) to determine what price to list the home or what price to offer on the home. SOLD comps are what count people!!! The active sale down the street for 200 days is not a comp. (It is a sign of what not to do!) We use a direct map search; which enables you to literally draw a map around the property and then add criteria (Bedrooms, baths, sq.ft., ect.) If you know East Sacramento, you know that it makes a difference if you are South of Folsom Blvd. versus North or being East of 59th Street instead of West. I call this a niche market. Although statistics are helpful and it is nice to know the "average price per sq. f.t" I know that none of that matters in a neighborhood like East Sacramento. Why??...because most of the homes are different and unique in their own way. This character is what makes East Sacramento one of the most desirable places in Sacramento. This character also makes the process of valueing a home more challenging than a cookie cutter community like Natomas. I'm not hating on Natomas there are some great deals to be had there too....but we will not get into that as it would be a whole other blog post. Tips and Stats below! Sorry for the enormous run on sentences I didn't have time for Dr. Jo (My mom) the english doctor to edit. Tom's Tip to East Sacramento Buyer: Try to look for the big ticket items (Roof, electrical, plumbing, central HVAC, condition of exterior, pest report) as you can save yourself a lot of money and headache by making sure these items are in good condition and have been recently updated. When buying a home consider the size and space seriously and make the decision based on where you plan to be in your life in ten years NOT two years. Let's face it no one knows where our economy will be tomorrow let alone in a year from now! Be conservative and take your time in making the decision to buy a home as it is a large purchase. Now let's go find you that dream home! Tom's Tip to East Sacramento Sellers: When listing your home first call me...jk Actually...yes call me, but also try to put yourself in the car with the buyer. If you were in the market in East Sacramento in a tough economy with little to no consumer confidence what would you want? Everything??? I know and that is true....it sucks,but that is what most buyers now want. Evaluate how your home would be appealing to a buyer and make them want to write an offer on your home versus someone elses. Price your home right and have it ready to show and the buyers will come. It is important to price it right, but to as im be firm with that price...We are not desperate! Check out some of my testimonials on Yelp from recent sellers in East Sacramento! Work with a broker who will sell your home and shoot you straight! This turn key home is priced right and in one of Sacramento's best neighborhoods. Walk to the McKinley Park! Refinished hardwood floors, new paint, fixtures, updated bathroom and kitchen with beautiful title flooring, granite counter tops new cabinets, built in appliances and the list goes on. Huge back yard is great for entertaining and spacious enough for potential expansion. 2 car detached garage, central HVAC and NEW roof. Clear section 1. FHA welcome! Click the green link to Watch a Video. Home for Sale in McKinley Park. Tom Gonsalves is one of East Sacramento's top producing Real Estate Agents.
Listing #11037965 $295,000 (LP) Price/SqFt: 268.43 5001 D St, Sacramento, CA 95819 * Sold (06/23/11) DOM/CDOM: 4/4 Beds: 2* Baths: 1 (1 0) (FH)* Sq Ft: 1099* Lot Sz: 0.141ac* Area: 10819 Yr: 1937 Time to own an investment property in a great location of Sacramento. Live in one side and rent the other to offset your mortgage! FHA welcome. All the work has been done for you. 2/1 each side, 1 car garage. 958 sq. feet each unit, large rooms with hardwood floors throughout both sides. List of upgrades include- Garage doors, paint, tile floors, new toilets and vanity with Italian tile flooring, baseboards, crown molding, & granite counters in kitchen. Must see! Click the Green Link to watch a Video Now! Investment Property in Sacramento.
Listing #11037266 $209,000 (LP) 2462-2464 Catalina Dr, Sacramento, CA 95864 * Active (05/18/11) DOM/CDOM: 24/148 Lot Sz: 0.207ac* Area: 10864 Yr: 1955* |
Archives
December 2018
Categories
All
|