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These properties presented by Gary & Cindy Belhumeur of the Home Source Group. Ask about our incredible marketing plan for selling your home. We sell homes in less time and for more money with proven marketing techniques that really work! Don't forget to sign up for Homecaster. You can receive an e-mail with our latest listings before they go on the market. Email: Mail@HomeSourceColorado.comPhone: 303-429-1887 Click here to go to Gary & Cindy's home page
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Tax Considerations >Tax Implications of Selling Your House
Most of my clients profit from selling their homes, and they often have questions about capital gains tax. When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010. Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption. Consult your tax accountant for more detailed information regarding your particular circumstance.
Who is "Freddie Mac", and why is he a big name in real estate?
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans.
Gary & Cindy Belhumeur, GRI, ABR, CSR, SRES, e-ProHome Source Group7728 Vance Dr., Suite BArvada, CO. 80003Toll Free: 866-295-4977Local Phone: 303-429-1887Fax: 303-412-5608Email - Gary: Gary@HomeSourceInfo.comE-Mail - Cindy: Cindy@HomeSourceInfo.comGary and Cindy Belhumeur are the NUMBER ONE AGENTS in the Denver Metro area. The Home Source Group, owned and operated by Gary and Cindy Belhumeur, is your "One-Stop Real Estate Source". Their experienced Realtors and professional support staff offer "Concierge" service to all of their clients. The Home Source Group represents Buyers or Sellers and offers comprehensive Relocation Services and Financing. Give Gary and Cindy Belhumeur a call and find out why they've been in the Top 1% of Denver Realtors for the last TEN consecutive years! The Home Source Group also specializes in Short Sales and Foreclosures and are HUD Certified Brokers.
Gary & Cindy Belhumeur, GRI, ABR, CSR, SRES, e-ProHome Source Group7728 Vance Dr., Suite BArvada, CO. 80003Toll Free: 866-295-4977Local Phone: 303-429-1887Fax: 303-412-5608Email - Gary: Gary@HomeSourceInfo.comE-Mail - Cindy: Cindy@HomeSourceInfo.com
Gary and Cindy Belhumeur are the NUMBER ONE AGENTS in the Denver Metro area. The Home Source Group, owned and operated by Gary and Cindy Belhumeur, is your "One-Stop Real Estate Source". Their experienced Realtors and professional support staff offer "Concierge" service to all of their clients. The Home Source Group represents Buyers or Sellers and offers comprehensive Relocation Services and Financing. Give Gary and Cindy Belhumeur a call and find out why they've been in the Top 1% of Denver Realtors for the last TEN consecutive years! The Home Source Group also specializes in Short Sales and Foreclosures and are HUD Certified Brokers.
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