Parker County Today April 2018 - Page 86

our community: REAL ESTATE Don’t Leave Money on the Table By Maureen Griffin, Tara Stark Real Estate T he Parker County real estate market is hot! “How hot is it?” you ask – the latest avail- able numbers from the North Texas Real Estate Information Systems, Inc. (NTREIS) already show a median sales price increase of 12.7 percent over the same period last year. Days on the market are down 11.8%. Those two stats combined confirm our proper- ties are selling faster, and for a higher price than 2017. While those numbers might not prompt homeowners to up-and-move, they may trig- 84 ger investment property owners to cash-out on their equity. Wait! Before you “cash-out”, Tara Stark with Tara Stark Real Estate Group, Keller Williams, advises us to think about doing a 1031-Exchange. “A 1031-Exchange allows certain investment property owners the opportunity to take advantage of the equi- ty they’ve accumulated to purchase another investment property, one of greater value, and through the exchange, the ability to defer some or all tax liabilities”, says Stark. There are those two dreaded words; tax liabilities. Stark advises, “Don’t let the tax lingo scare you, the 1031-Exchange is a common real estate transac- tion we routinely assist our clients with. We partner with Qualified Intermediaries who have solid credentials in 1031 Tax-Deferred Exchanges. We will walk through the process with you, making it seamless as possible, because we are committed to making-a-differ- ence in our clients’ lives.” “What about my CPA? Can they help me with this