Leave a Message

Thank you for your message. We will be in touch with you shortly.

A $2.1M Mistake?! | Take it Up with Tony

Tony Accardo March 30, 2023

Our Client almost lost $2.1M overnight because of terrible agent advice. It can happen to you, so listen up!
 
 
You want to hire a real estate agent to be an advisor, not just someone to tell you about a house. We had a client who reached out to help their home after other agents failed, and after looking at their situation, it was actually a blessing the home didn’t sell.
 
Because the seller wasn’t advised on how much money he would have to pay in capital gains taxes, he could've lost $2,100,000! So let’s do the math. On a $6,000,000 home, which this home was, with a 35% capital gains tax the seller would be paying over $2.1 million dollars to sell their home. 
 
A capital gains tax is a tax you pay on the profit made from selling an investment. You don’t have to pay capital gains tax until you sell your investment. The tax paid covers the amount of profit — the capital gain — you made between the purchase price and sale price of the stock, real estate or other asset.
 
Here is how to avoid Capital Gains Tax on Real Estate:
 
  1. Live in the house for at least two years. 
  2. See whether you can qualify for an exception.
  3. Keep the receipts for your home improvements.
 
After looking at the situation, we advised not to sell and instead rent the home out until it is qualified as an investment property. So if you think you are ready to sell, make sure you talk to a tax professional, your financial advisor, and a trustworthy real estate agent that doesn't have commission breathe!
 
Watch the video here!
 
Curious how we would prepare to sell your home with our perfected 5-step process? Click here to learn more!
 
Working with a team of experienced real estate professionals is an excellent way to gain experience and knowledge quickly... learn why you should work with a mentor here!

Recent Blog Posts

Stay up to date on the latest real estate trends.

How Private Exclusives Work For Manhattan Beach Sellers
South Bay Fourth of July 2026 Guide

Fireworks, Parades, Concerts & Family-Friendly Events Across the South Bay

Why Zillow Doesn't Tell the Whole Story: What South Bay Homeowners Need to Know

If you're thinking about buying or selling a home, chances are you've visited Zillow.

Where to Eat in San Pedro, CA: The Ultimate Local Guide to the Best Restaurants, Coffee Shops & Waterfront Dining

Looking for the best restaurants in San Pedro, CA? Discover local favorite breakfast spots, coffee shops, waterfront dining, date-night destinations, seafood restauran… Read more
Summer in the South Bay 2026: Events, World Cup Watch Parties, Live Music, New Restaurants & Things to Do in Manhattan Beach, Hermosa Beach, Redondo Beach & Palos Verdes

Discover the best things to do in the South Bay this summer including Riviera Village Summer Festival, World Cup watch parties, live music, new restaurants, Fourth of … Read more
Listing Preparation Timeline For Palos Verdes Estates Sellers
Accardo Real Estate Associates Recognized Among the Top 1.5% of Real Estate Professionals in the Nation by RealTrends Verified

A Recognition Built on Trust, Strategy, and Service

More Than a Listing: How Strategic Preparation and Marketing Put 4922 Paseo Del Pavon Into Escrow

See how Accardo Real Estate Associates transformed and strategically positioned 4922 Paseo Del Pavon through design guidance, Compass Concierge, targeted marketing, an… Read more
Luxury Home Selling Checklist For Manhattan Beach Owners
View All

Work With Us

Tony and his team set out to be not just the best possible realtors but also trusted resources. Their experience goes well beyond their years as South Bay's top-producing Realtors®.

Contact Us

Thinking of buying or selling in the South Bay? Our team specializes in strategic home preparation, elevated marketing, and expert negotiation designed to maximize your home’s value. Call or Text 310.855.3557 to start the conversation.

Get in Touch

contact-form-background

Contact Details

Accardo Real Estate Associates

310.855.3557

[email protected]

Tony Accardo | CA DRE# 01863340

Palos Verdes Office:

550 Silver Spur Road, Suite 110
Rancho Palos Verdes, CA 90274 

 
Redondo Beach Office
1820 S. Elena Ave Suite H
Redondo Beach, CA 90277

Hermosa Beach Office

1223 Hermosa Ave
Hermosa Beach, CA 90254
 
South Bay Office
21250 Hawthorne Blvd, Suite 750
Torrance, CA 90503