Some points of interest that many home owners, investors and business leaders may want to know:

• Home Owner TAX FREE capital gains.  The Congress passed legislation a several years ago that allows home owners to sell their primary residence after living in it for two years or 730 days in the past 5 years.  This allows the home owner a $250,000.00 tax free capital gain on their return and gives your spouse an additional $250,000.00, if both are on title.   For details please contact your accountant or CPA.
  

• Real Estate Investors 1031 Tax Exchange.  The 1031 Tax Exchange is a way for Real Estate Investors to sell and buy other investment property delaying the payment on the capital gains of a sale.  This is not a straight up process and has many rules and restrictions that must be followed.  Nextage Client First Realty has a 1031 specialist on their professional team that can help you through the regulations and transition period.  Please check Rick's Professional area on his website for the right professional referral to assist you  
  

• First Time Home Buyers:  Are you wondering if you can afford to purchase a home?  Are you paying more than $800.00 per month for rent?  Why not talk to a professional loan advisor and see if you can get pre-approved to purchase a home.  This professional will help you determine the maximum amount you can afford to purchase a home.  One thing you will need to remember is that you will need a minimum of 10% down for conventional loans and 3% for FHA if you qualify.  Please check Rick's Professional area on this website for the right professional referral to assist you and then contact Nextage Client First Realty to help you find that dream home

Sunday, December 13, 2009 01:52:55 PM