Useful Real Estate Web Sites Here's a short list of some of the more useful real estate and real estate related sites on the web. When you click on any of the links below, you'll see the site you chose, along with a form at the bottom of your screen. Use it to get answers for any questions you might have about anything you find. Remember: It's my job to know more about real estate than any web site! Falmouth Moving Companies
With just a few clicks 123 Movers can find you Fast, Free, no obligation quotes from local & interstate moving companies, auto transport specialists, self storage organizations, international movers and more. Relocation can be a stressful event so let us help you find the moving services you need by searching our directory of licensed movers.
GOVERNMENT REAL ESTATE RESOURCES
Try the US Census
Bureau,
FedStats.com, or the
Bureau of
Labor Statistics for useful information. The
HUD web
site is full of resources. Don't forget
Fannie
Mae,
Freddie Mac, or
Ginnie
Mae. Get home buying tips from the
Federal Consumer Information Center.
LOCAL INFO
Find your local
Chamber of Commerce or
State Government.
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Tax Considerations >Tax Rewards for Homeowners
The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.
Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.
The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.
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| Q |
To what process do the terms closing, escrow, settlement and passing papers refer?
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| A |
These terms, which vary in different parts of the country, describe the conclusion of a real estate sale. |
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