Get the Latest Listings Before Anyone Else!
Maximum Service Team is one of The Top Selling Real Estate Experts
Find Out More >
|
|  | | | Susan C. Witka | |
Paula E. Castro |
Julie Peterson |
Meet Maximum Service Team Paula Castro GRI, CRS and Susan Witka ABR, CRS have 31 combined years of quality real estate experience and are in the TOP 1% for sales nationwide .
They call themselves "The Maximum Service Team" because they are committed to providing the utmost in service to each and every customer. Both women have received the Platinum Award for their outstanding sales award. They sold over 500 homes from 2000-2004! Paula and Susan specialize in listing, sales and relocation. They are assisted by a dedicated staff consisting of two Buyers Specialists, a Closing Coordinator and a Listing Coordinator. This support system system enables them to go the "extra step" and make every transaction as smooth as possible. Their long work record is evidence of the loyalty and trust they have gained from their customers, many being repeat buyers, sellers and referrals.
Please Sign Up For The Latest Listings and the Latest Real Estate News
Real Estate Tips
First Time Buyers >Your Principal Residence
The Federal Tax Code allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles can exclude $250,000). In order to qualify for this exemption, you must prove that that the home has been your principal residence for at least two out of the last five years. The establishment of the home as a principal residence depends on the facts of each homeowner's circumstance. Here are two cases to consider.
Homeowner A has lived at 25 Pine Drive for 12 years. Although he stays at his vacation cottage in another town for up to three months out of each year (sometimes more), 25 Pine Drive is his principal residence, where he lives most of the time. When he sells the home, Homeowner A (filing as a single individual) can keep up to $250,000 in tax-free profit.
Homeowner B buys 108 Maple Street, intending to live there. He rents it out while waiting to sell his current home, where he has lived for six years. His principal residence sells at the end of two years. Homeowner B moves into his new house, lives there for three months, and then decides to travel. After a six-month trip, he regrets buying 108 Maple Street and sells it. Even though he has owned the house on Maple Street for over two years, it won't qualify as "owner-occupied", because he only lived in it for a few months. Thus Homeowner B is not eligible to claim the tax exemption when he sells the house on Maple Street.
Consult your tax advisor for advice about your particular circumstance.
|
Real Estate Trivia
| Q |
What Kauai location was used to portray Never-Never Land in "Hook," the remake of Peter Pan by Steven Spielberg?
|
| A |
Kipukai beach |
See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|