Quickly Find Out What that Home Down the Street Sold For, By Email, for Free. If you are considering selling your St. Albans, Swanton and Fairfax, Vermont area home, you are probably wondering what other homes in the area are selling for. There might be one home in particular that you'd like to know the sale price on, or you might be interested in all the homes that have sold recently in your St. Albans, Swanton and Fairfax area neighborhood. I can help! I can tell you exactly what any home sold for in your area. I will furnish you with a list of homes that have recently sold on your street or in your neighborhood. I can also tell you about homes similar to yours that are currently for sale. This service is entirely free, without obligation. As a St. Albans, Swanton and Fairfax area real estate agent, this is part of the service that I provide to home sellers on a daily basis.  Find out what a home or property sold for, by email, for free! It's my job to help you determine real estate values in St. Albans, Swanton and Fairfax! There's no obligation, and I promise to get back to you quickly...
Tax Considerations >New 1031 Exchange Rules
One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.
A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.
Consult your tax advisor for more detailed information.
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| Q |
What Oscar-winning 1999 Best Picture about two neighboring American families was filmed in the interior of two actual homes located 12 miles apart?
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| A |
"American Beauty," starring Kevin Spacey and Annette Bening. |
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