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Request Our Free Relocation Package!
Moving your family to another town or state is a major event in your life! We have helped many families and individuals relocate! If you will be moving, we can correspond by email and phone. Together, we'll determine what type of home, price range, and neighborhoods you are interested in. We'll send you every home or property that is currently available that matches your criteria. When you visit, We'll be ready! We will visit the neighborhoods and homes that interest you the most. In addition, we can talk about schools, sub-divisions, local market conditions, local culture... anything that is important to you. Remember: As top real estate agents, it's our job to know this area inside and out, and we want to make your transition as smooth as possible. To get started, fill out the form to request our FREE Relocation Package. We'll send it right out. It's full of useful and important information about this area. You are under no obligation, so you can't go wrong...
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Tax Considerations >Taxable Profits
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.
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| Q |
What mortgage transactions between borrowers and lending institutions operate in the private sector of the economy?
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Conventional mortgages are private sector transactions that are not insured or guaranteed by the government. |
 See More Real Estate Trivia > |
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The Carol Greco Group
Long and Foster Realtors
7010 Little River Turnpike
Annandale, VA 22003
703-658-1600
Fax: 703-256-5152
carolgreco@NUMBER1EXPERT.com
We will provide the best service possible for every client we represent. We will never tell a client what they want to hear - if it is not reality. We will never enter into a client relationship where we know what is expected of us cannot be done in good faith. We will never enter into an agreement with a seller who is unrealistic with regard to proper pricing. When hired to sell a client's home, we will always make the recommendations that can assist their home's value or help reduce its marketing time even if it means telling them things they do not want to hear. We acknowledge that we may periodically lose business because we are truthful with our clients while a few of our competitors may tell them what they want to hear to temporarily get their business. We will always remember that to have a winning relationship with our clients, we must always have a mutual goal.
We will never lose sight that our honesty, loyalty, understanding, accountability, and creativity are what makes us so very different from the real estate masses. We will always utilize a well trained staff to assist us in the complex home selling process. We will prioritize our time so that we are working only with people who are serious about either buying or selling real estate. We will always treat all parties honestly and fairly and will always offer our properties without regard to race, creed, religion, sex, ancestry, national origin, handicap, or family status. We will always promote the best interests of the owner. We will strive to obtain the best price for our owners, and we will always disclose to our owners all facts that might affect or influence their decisions.
We assure you that during our real estate careers we will always strive for excellence, and we make a commitment to continued education so that we may better serve our clients.
We look forward to Serving You!
-The Carol Greco Group      
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All rights reserved. All information deemed reliable but not guaranteed.
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