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Special Offers: Special offers for Naperville, Plainfield and Oswego homeowners from Scott
Gerami, top Realtor |
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Affiliates: Scott Gerami's real estate web site affiliates |
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eNewsletter: Scott Gerami's Naperville, Plainfield and Oswego newsletter email will send you the latest
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Today's Real Estate News: Daily real estate news for this neighborhood, Illinois, and United
States |
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Market Conditions Report: Market conditions report for this area, Illinois, and United
States |
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Monthly Payments & Schedule: Monthly loan payments java
mortgage calculator |
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How Much Can You Afford?: Calculate how much home
you can afford with this financial calculator |
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Determine Tax Savings: Calculate how much your
monthly Naperville, Plainfield and Oswego Illinois mortgage payments save you on your taxes because of
loan interest |
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Should You Rent or Buy?: Is it better to rent a
home in Illinois or buy your own Naperville, Plainfield and Oswego house, ranch, luxury property,
condominium, acreage, or other real estate? |
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Adjustable Rate Mortgages: Adjustable rate
Naperville, Plainfield and Oswego mortgages information and interest rate java
calculator |
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What Is Your APR?: Determine the Annual Percentage Rate (APR) for your mortgage. |
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Fixed or Adjustable Rate Mortgage?: Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. |
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Are Balloon Mortgages For You?: Balloon mortgage calculator. A balloon mortgage can be an excellent option for many home buyers. |
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15 vs. 30 Yr Mortgages: With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms. |
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How Much Should Your Income Be?: What income is required to qualify for a mortgage? Use this calculator to find out. |
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What's Your Maximum Mortgage?:This calculator will help you determine your maximum monthly housing payment and the resulting mortgage amount. |
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Will Buying Points Save You Money?:This calculator helps you determine if you should pay for points, or use the money to increase your down payment. |
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TripleCalc: FREE Software
Download: TripleCalc lets you compare three loans at one time for your property
or other Illinois real estate |
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Top National Real Estate Web Sites: Real Estate Web Sites
that include some unique sources of realty information, listings, and
more |
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Ask Anything: Ask Scott Gerami
anything real estate |
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Link Partners: Scott Gerami's
link partners in real estate |
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Inspections: Scott Gerami's
real estate inspections |
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RTR Racing: Scott Gerami's
real time real estate racing |
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NUMBER1EXPERTS: List of all the NUMBER1EXPERT real estate agents and realty professionals and brokers in the USA and Canada with links to their personal web sites with homes for sale |
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Real Estate Tips: Scott Gerami's realty library of real
estate tips and advice on everything from preparing your home for sale to
negotiating with home buyers to escrow, closing costs, property inspections,
and mortgage brokers |
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Real Estate Trivia: Scott Gerami's collection of real estate trivia questions and answers
that include real estate topics such as the most expensive home, largest
swimming pool, and more |
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Real Estate Dictionary: Complete real estate
dictionary and glossary of realty words you'll use when you list and sell your
Naperville, Plainfield and Oswego property in Illinois, including legal terms definitions, and
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Tax Considerations >Taxpayer Relief
Legislation included in the 1997 federal budget made significant changes that improve a homeowner's ability to profit from the sale of real estate.
The capital gains tax exclusions on the sale of a principal residence is just one of several benefits for homeowners. When you sell a home you have owned and use for two of the five years prior to the sale, married couples are allowed to keep up to $500,000 in tax-free profits and taxpayers filing as singles can keep up to $250,000 before paying capital gains tax.
Long-term capital gain is also taxed at lower rates as a result of the Jobs and Growth Tax Relief Reconciliation Act passed in 2003. The maximum capital gains tax rates dropped from 20% to 15% and from 10% to 5%, effective for sales and exchanges taking place on or after May 6, 2003 and through December 31, 2007. In 2008 the 15% rate continues for higher income taxpayers, while the 5% rate for lower income taxpayers drops to 0%, but only for the 2008 tax year. On January 1, 2009, the 10% and 20% rates will be reinstated.
Consult your tax advisor for advice regarding your particular circumstance.
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| Q |
What famous $40+ million home has a 60-foot pool with underwater music and a 20-car garage?
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| A |
The home of Bill Gates, co-founder of Microsoft, features the latest futuristic computer technology. |
See More Real Estate Trivia > |
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