Litchfield County CT Real Estate

3 Story For Sale in Torringford

2009-07-14T18:01:00Z

• 1,988 sq. ft., 3 bath, 5 bdrm 3 story "Three family - up/down" - MLS® $172,768 - Great Price on 3 Family!

Torringford, Torrington - Super price on this updated and very well maintained 3 family home in Torrington. Fully rented with a strong history of complete occupancy. Financial worksheet attached to listing. Presently generating $24,300 in annual rental income.

All separate utilities. Plenty of off street parking. Central location. Low taxes.

Priced below market. Owner says sell! Only $172,768

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Price Reduced on 222 High Street in Torringford

2009-07-14T18:01:00Z

Torringford, Torrington - Announcing a price reduction on 222 High Street, a 1,988 sq. ft., 3 bath, 5 bdrm 3 story "Three family - up/down". Now MLS® $172,768 - Great Price on 3 Family!.

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Price Reduced on 73 Wyoming Avenue in West Torrington

2009-06-03T17:34:00Z

West Torrington, Torrington - Announcing a price reduction on 73 Wyoming Avenue, a 1,776 sq. ft., 2 bath, 3 bdrm 2 story. Now MLS® $207,000 - Big Price Reduction.

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Fabulous Lakehouse for sale in Litchfield County - Bonus 32' Motor Home!

2008-10-13T20:25:00Z

Beautiful Lakehouse with Total Privacy

• 2,268 sq. ft., 3 bath, 3 bdrm 3 story "Two Masters" - MLS® $750,000 - Private Lakeside Retreat

Winchester, Winsted - Beautiful waterfront home on a private 30 acre pond, tucked away in the Northwest Hills of Connecticut. Commanding views of your own private lake are yours from each of the 3 levels in this stunning home plus views of the hills in the distance.

Master suite is on it's own level with private deck and full view of the water. (There icould be another master suite also). Fireplaced living room, dining room and extra large game room, which opens onto the large flagstone patio just steps to your personal private sandy beach.

Down by the Water

Boat house with it's own sitting porch. Floating dock to moor the canoe, sailboat, kayak paddle boat or what have you. Water frontage is 200 feet, with your own private sandy beach. Grassy area next to the water for parties, and within the grassy area is a firepit for those parties that go well into the evening.

Excellent swimming, fishing and boating. 2,268 square feet plus new central air conditioning, 2 car garage, and so much more.

A wonderful setting on a private road for summer relaxing, winter fun, perfect as either a full-time home or weekend getaway. Just 2 and 1/2 hours from either New York or Boston. $750,000.

More info can be obtained by visiting www.WinchesterConn.com.

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History for Sale in Winchester Center, Litchfield County CT

2008-09-02T14:11:00Z

Victorian Estate on 18 acres -Dream Barn

• 3,080 sq. ft., 3 bath, 4 bdrm 2 story "Landmark Victorian Italianate Estate" - $1,195,000 - Victorian Estate

Winchester, Winsted - Landmark Victorian Estate and Gentleman's Farm
This beautiful and much admired estate property sits in a majestic setting on 17.9 bucolic acres in Historic Winchester Center in Litchfield County, and 2 hours from Manhattan.

The home, known as the Wilbur Bronson house, is circa 1857 and retains its mid-19th century beauty due to it's meticulous maintenance and restoration. There are 4 bedrooms, 3 bathrooms, formal and informal living rooms, parlor, dining room, study or library, a wonderful kitchen, central air, generator system, and a beautiful rear patio off the kitchen.

All the architectural Victorian features are here, including the beautiful lighted cupola, elegant corniced eaves, corinthian-columned porch, tall windows, and a gaslight front streetlamp with cobblestone walkway.

Beyond the main house is the 2 story, 36 by 40 foot barn. With the garaging for at least 3 vehicles, the barn also has both central air and heating system. The 2nd level comprises 1170 finished square feet, and is currently a working civil engineering firm. It would make an amazing architect’s or artist’s space.

Fronting the property is a stunning stonewall w/cedar gate which gives way to a pond with fountain. The property has made a wonderful horse property in the past and the barn could easily be converted back to stables. The landscaping is lush, with countless perennials and plantings adding vibrant color through the seasons.

The setting is Chapel Road in Winchester Center. Named for the 18th century chapel that adorns the corner, this showcase property is sited a few steps from the historic village of other fine homes, while maintaining it's own privacy due to it's extensive acreage.

The most discerning buyer will immediately recognize the beauty, quality, craftsmanship and significance of this property. Interior photos upon request. Schedule your private showing today. $1,195,000

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Victorian Estate for Sale in Winchester Center CT

2008-09-02T14:11:00Z

Winchester Center - Announcing the Listing of a fabulous Victorian Estate property. Uniquely beautiful, this substantial property will please the most discerning buyer. 18 acres, dream barn, pond, fountain, and a gorgeous 1857 Victorian home worthy of the most disciminating tastes. 4 bedrooms, 3 baths, central air, 10kw generator system, all the original architectural details as well. Call Dan Tolman for a private showing. 860-738-1900.

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Spiffy Condo - and look at the Price!

2008-08-05T16:29:00Z

Burrville, Torrington - Announcing a price reduction on 65 Woodside Circle, a 1,154 sq. ft., 2 bath, 2 bdrm townhouse. Now MLS® $165,000 - Contemporary Condo.

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1031 Exchanges

2007-01-08T14:09:00Z

What is a 1031 Exchange?

The 1031 Exchange is a tax-deferred strategy (refering to section 1031 of the IRS tax code) for real estate investors which allows you to avoid income taxes on the sale of a property when the intention is to reinvest the proceeds in a similar or like-kind property. Also called the Tax-Deferred Exchange, it is a long-term strategy with multiple restrictions and benefits. As you’ll see, it can be quite complicated and I recommend that you seek advice from both your Realtor© and tax professional and/or attorney before attempting an exchange. However, the benefits are well worth the effort and it is never too early to begin thinking of tax strategies for your next investment.

The Advantage of a 1031 Exchange is the ability of a taxpayer to sell income, investment or business property and replace with like-kind replacement property without having to pay federal income taxes on the transaction. A sale of property and subsequent purchase of a replacement property doesn't work, there must be an Exchange. Section 1031 of the Internal Revenue Code is the basis for tax-deferred exchanges. The IRS issued "safe-harbor" Regulations in 1991 which established approved procedures for exchanges under Code Section 1031. Prior to the issuance of these Regulations, exchanges were subject to challenge under examination on a variety of issues. Since issuance of the 1991 Regulations, tax-deferred exchanges are easier, less expensive and safer than ever before.
The Disadvantages of a Section 1031 Exchange include a reduced basis for depreciation in the replacement property. The tax basis of replacement property is essentially the purchase price of the replacement property minus the gain which was deferred on the sale of the exchange property as a result of the exchange.
Exchange Techniques. There is more than one way to structure a tax-deferred exchange" under Section 1031 of the Internal Revenue Code. However, the 1991 Regulations established safe harbor procedures which include the use of an Intermediary, direct deeding, the use of qualified escrow accounts for temporary holding of "exchange funds" and other procedures which now have the official blessing of the IRS. Therefore, it is desirable to structure exchanges so that they can be in harmony with the 1991 Regulations. As a result, exchanges commonly employ the services of an Intermediary with direct deeding.

Exchanges can also occur without the services of an Intermediary when parties to an exchange are willing to exchange deeds or if they are willing to enter into an Exchange Agreement with each other. However, two-party exchanges are rare since in the typical Section 1031 transaction, the seller of the replacement property is not the buyer of the taxpayer's exchange property.

CONTINUED ON WEBSITE http://www.yankeenewengland.com/1031_Exchanges/page_1762787.html