|
All agents are NOT alike! Find out why we are top real estate experts. Call us: 310-378-2240.
|
 Alan Crooks,
Buyer Specialist
(310) 378-2240 Extension 2 |
Get Free Presentation On Our Home Marketing.
Before signing a contract with any REALTORŪ, make sure you know EXACTLY how your home will be marketed.
Find Out More >
View All Offers >
|
 Compare three mortgages at one time.
Download TripleCalc now. It's free. |
Pat and Ron Murray are some of
The Top Selling Real Estate Experts™
Find Out More > |
|
Welcome! Here You Can Find Great Information on Palos Verdes, Redondo Beach and Torrance, California Real Estate
|
|
 |
Looking for homes? Search everything the web has to offer, right here! Don't miss our Feature Homes. Need local real estate information? We've summarized much of what is important about the Palos Verdes, Redondo Beach and Torrance real estate market in this site. Need expert advice? No web site, large or small, can take the place of a top REALTORŪ. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. That's our job. Contact us with confidence! We guarantee your privacy will be respected. And we offer the services on this site for free and without obligation. Why? We want to be YOUR REALTORSŪ. As your trusted, professional real estate partners, we will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As top Palos Verdes, Redondo Beach and Torrance REALTORSŪ, we have the experience and track record you are looking for. Please let us help. - Pat and Ron Murray  |
Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
|
| Q |
Why is the Terra Amata site in Nice, France famous?
|
| A |
Remains of 21 huts found in 1965 are thought to be the oldest known habitation from the Acheulian culture 400,000 years ago.
|
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERTS™ 
