Fremont Real Estate and Beyond

“Like-kind” means I must exchange the same type of property, such as an apartment building, for another apartment building.   FALSE A 1031 Exchange means that the sale and the purchase have to happen at the same time. In other words, the seller has to find someone willing to swap properties. FALSE My attorney or CPA can handle the exchange for me as my Qualified Intermediary. FALSE To do a 1031 Exchange I just need to file a form with the IRS with my tax return and “roll over” the proceeds into a new investment.  FALSE I can only defer my capital gains tax via a 1031 Exchange.  FALSE All of the funds from the sale of the relinquished property must be reinvested.   NOT NECESSARILY You must replace the debt that you had on the relinquished property with at least the same amount of debt on the replacement property.  FALSE Opportunity Zone Funds are another alternative to defer my taxes.  POSSIBLY When I sell my personal residence I need to set it up as a 1031 Exchange.  FALSE

BayEast posted their East Bay housing statistics for the month of February. You can find it here: https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

A special City of Hayward task force will discuss a moratorium on increasing rents and other tenant protections during a meeting on Thursday, March 21.  An agenda for the meeting was released March 19. The Council Homelessness-Housing Task Force was established to advise the City Council on rental housing policies.  During the March 21 meeting they will study the rent moratorium and these other issues: A mandatory mediation program with binding arbitration triggered when rents are increased more than five percent.  (Single family homes and condominiums would be exempt); Elimination of the vacancy decontrol provisions of the current Residential Rent Stabilization Ordinance; Protecting Section 8 voucher holders from discrimination; Requiring landlords file rent increase and eviction notices with the City of Hayward; and Explore requiring

During their March 5 meeting, the Hayward City Council unanimously approved an emergency that requires landlords to show a "just cause" for evicting a tenant.  The requirement applies to all rental housing in Hayward including single-family homes and condominiums. According to a press release issued by the City of Hayward, landlords must notify their current tenants of the new policy no later than April 5 and must notify all future tenants, as well. A complete list of "just causes" for eviction are available here .  For more information please contact Jennifer Ott, Deputy City Manager at: Jennifer.Ott@hayward-ca.gov