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"Available and Accomodating"
"Paul and I are certain we could not have found a better or more knowledgeable realtor than you. When we moved from Maryland to Lake Forest you gave us all of the information about every house that fit our criteria. You or your team members were always available and accomodating. We were very pleased with the purchase of our home several years ago. Then, years later when we decided to sell our home, we knew you would do a great job for us and you did. From the professional brochures to the feedback to the showinds, we were always sure that you were doing everything possible to sell our home. Every member of your team was as helpful as possible. Thanks for a pleasant experience."
"Paul and Cathy Boltz"
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Tax Considerations >Taxable Profits
If you are thinking of selling your home and your house has risen in value since you purchased it, or you have accumulated a lot of deferred profit from previous sales, the Taxpayer Relief Act passed in 1997 could be of tremendous value.
Prior to this law, when a homeowner moved to a smaller home, relocated to a less costly area, or made a decision to rent, they were left with unfavorable tax consequences. The old tax law allowed people who sold their homes to defer tax on any profit by buying a replacement home of at least equal value within two years. At age 55, they could permanently escape tax on up to $125,000 of profit, but any profit in excess of that amount was taxable unless a new home was bought.
The good news is that with homes sold after May 6, 1997, homeowners can make as much as $500,000 tax-free profits on the sale of a principal residence for joint filers or $250,000 for single filers. The $500,000 capital gains exclusion removed taxes as a consideration for most home sellers by giving them flexibility to trade up or down. It has also allowed homeowners to preserve the savings value of a home when they sell, provided they use the property as their principal residence for two of the prior five years prior to the sale.
Consult your tax advisor for your particular circumstance.
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| Q |
What is the least affordable metropolitan housing market in the United States?
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| A |
California's Los Angeles-Long Beach-Glendale is currently rated as the most expensive metro area in the nation. |
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- NUMBER1EXPERTS™ 
