Arizona Real Estate Notebook

Bob Bruss;

CAN FOREIGN OWNER QUALIFY FOR $250,000 HOME-SALE TAX EXEMPTION?

DON’T EXPECT PROFITABLE HOME SALE AFTER JUST 12 MONTHS OF OWNERSHIP

Even in the best of real estate times, it takes three to five years of home ownership to at least break even when selling. That’s why home buyers should not purchase unless they plan to stay at least five years.

I say it takes at least 2 years to break even so I think Bob may be a bit too conservative there.

Nevertheless, I recently told a young man on assignment in Phoenix for 18 months to 2 years that he would probably be better off renting unless he went in with the intention keeping the property as a rental for at least a few years after his reassignment.