Dayton Fun Face: Lakeside Amusement park
Most Daytonians these days don’t know that Dayton, Ohio had several amusement parks years ago. One I wanted to focus on today was called Lakeside. If you can picture in your mind where Gettysburg Ave and Route 35 cross then you are right at the spot where Dayton’s first amusement park started. It was the Lakeside Amusement Park which opened in the summer of 1890. It had a roller coaster called the Wildcat, a carousel and a water ride that let excited patrons ride wooden boats down a long slide into the water. It remained open until the mid-1960s Of course, the highway was not there back then and the site is now unrecognizable as a former play zone. All that remains is the small lake from which it was named that eventually became overgrown and littered. The city of Dayton has recently invested in the lake and added a walking trail, dedicated parking and a floating dock. The revitalization has once again allowed the lake to be enjoyed by all. The next time you drive down Route 35 on the western side of Dayton be sure to take in your surroundings and you’ll get a glimpse of the lake. You can just imagine the happy screams of park goers and what a fun asset Lakeside was to the Dayton area. As a local Dayton Realtor I’m always happy to share our area’s rich history.
Real Estate Capital Gains
Throughout my real estate career of helping clients buy and sell in the Dayton, Ohio area I’ve been asked this a lot, “Do I have to pay capital gains when I sell my real estate?" If it is your primary residence, vs an investment property, the government cuts you some slack on gains that are taxed, provided your situation falls within a few provisions. It needs to have been your primary residence for 2 of the last 5 years. Also, you cannot have purchased it through a 1031 tax deferred exchange. If you’re not sure what that is, then you didn’t buy it that way. The 1031 allows you to swap investment properties to defer capital gains. Let’s say you purchased the home for 200,000 and sell it for 300,000. You profited (have gains of) 100,000. However, if you are single, you are exempt from paying tax on gains up to 250k. If married filing jointly, you are exempt from paying tax on gains up to 500k. In this example, single or married, you are below the threshold and would not have to pay capital gains. Further, you get to reduce your gain by some costs of the sale like the amount of commission you paid, improvements to the property, attorney fees, and inspections. There are some nuances involved but these are the basics. Want to learn more from your friendly neighborhood realtor? Just reach out!
Buying a house, 3-Tab vs Dimensional Shingles?
So, you are buying a house and you’ve heard that dimensional shingles are better than 3-tab shingles. But you don’t know how to tell the difference between the two. Since the roof is perhaps the most expensive system in the house to replace it is worth knowing what you have. Take a look at these two pictures. Notice how the one on the left looks a little flatter or smoother. That’s a traditional old school 3-tab shingle we see a lot less of here in the Dayton Ohio area. The one on the right has a rougher, more layered look. Almost like there are lots of smaller pieces of shingles all put together. The look is deceiving because each dimensional shingle is actually the same size as the 3-tab. You may have heard them called a laminated or architectural shingle. More than once I’ve heard dimensional referred to as 3-dimensional shingles which is sure to elicit a snicker from your roofer if you call them this. The smaller pieces have a stacked or laminated appearance and the shingle is thicker and stiffer than a 3-tab. It will last longer and do better in high wind conditions because of this. As a local Realtor in the Dayton Ohio real estate market when I’m showing homes to buyers I always try to educate along the way. Just reach out with any questions.
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