Houses along the Mississippi river are selling fast as well.
Our house is along State Highway 35 on the southern end of Fountain City.
3 car tuck under garage and an unbelievable view of the river.
The only place this has been advertised is here.
After August it goes public to the market.
<div class=”d4p-bbt-quote-title”>BigWerm wrote:</div>
The housing market is crazy all over right now!Covid has led to a severe lack of inventory. People don’t want strangers coming through their homes.
Be pre-approved and ready to act quickly with a solid offer. Writing non contingent on an inspection etc.
Good point Scott, I wonder how much inventory is down this year.
I cant remember the thread but there was one about counties taxing cabins that are primarily renting them out commercially which would be a huge increase. if it becomes true I would think a lot of those people/businesses holding those will try to sell. Hopefully bring the supply way up and prices down. Only time will tell though!
I just came across this thread (I was off grid all last week)
And yes, I remember about a year ago where there was a proposal to tax certain privately owned properties being used primarily as rentals as business/commercial. Without researching, I’m not sure where that proposal ever ended up.
I agreed though as it gave the Airbnb and VRBO owners an unfair advantage over the traditional resorts having to pay business taxes on their rentals.
FWIW, as far as recent lakefront property demand, we had 4 units in our complex for sale, some for over a year. Suddenly all 4 have sold within the last month. There are now no more available.
Airbnb and vrbo income is taxed as self employment income. Not sure how much of an advantage there is over the resorts. Must be some advantage if they were considering legislation i suppose
Airbnb and vrbo income is taxed as self employment income. Not sure how much of an advantage there is over the resorts. Must be some advantage if they were considering legislation i suppose
Had nothing to do with income tax. It has to do with property taxes. Commercial is much more $. If it is an investment and you rent it out it is commercial property and you should pay the increased rate.
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