Direct waterfront for just under $400,000? Believe it! This charming home fronts on the bay w/its own beach & is across from an ocean beach! Open floor plan for entertaining this summer & 3 decks for ALL your friends to enjoy!
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.
The Chase Team WEICHERT REALTORS - The Chase Team 146 Front Street Scituate, MA 02066 781-545-7900 Fax: 781-545-7901 Cell: 617-803-2660 donna@chaseteam.com
Where others might take the easy road, Donna, as one of America's NUMBER1EXPERTS™ in the Norwell and Scituate areas, travels the route that delivers the BEST results and service to her clients.
Donna skillfully negotiates through any transaction with years of sales and negotiations training, to deftly turn obstacles into advantages for her clients. She arrives at her goal using inspired strategies and creative marketing, unlike any other agent you may have met!
Donna's properties are selling quickly. Call her today for a half-hour presentation to show you a different approach to marketing your property.
