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Let Us Personally Search for a Home that Matches Your Criteria, for Free and Without Obligation. As top Fairfax County, Arlington County, Loudoun County and Alexandria real estate agents, we make it our business to be aware of every local home or property on the market. We even know of properties that will be available, but have yet to formally be placed on the market. We have direct access to the Fairfax County, Arlington County, Loudoun County and Alexandria area MLS (Multiple Listings Service), and also to every other agents in the area and all of their listings. If you give us some idea of what you are looking for, We will personally review all our sources of real estate listing information and send you everything within your price range that matches your criteria. We can save you a great deal of time! This is a totally free service, and there is no obligation. It's part of our job to offer services like this to homebuyers.  Tell us what you are looking for! It's our job to know every property in Fairfax County, Arlington County, Loudoun County and Alexandria, even ones not listed online. Our personal search for you is FREE and without obligation. Please give us as many details as possible...
Tax Considerations >Tax Implications of Selling Your House Most of my clients profit from selling their homes, and they often have questions about capital gains tax.
When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010.
Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption.
Consult your tax accountant for more detailed information regarding your particular circumstance.
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| Q |
What private residence is considered the most expensive house ever built?
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| A |
The William Randolph Hearst Ranch in San Simeon, California cost over $30 million, equivalent today to $276,883,320. Bill Gates recently built a home for over $40 million.
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Matthew Chae & the Helping You Home Team
Keller Williams Realty
12700 Fair Lakes Circle, Suite 120
Fairfax, VA 22033
703-266-4544
Fax: 703-547-8747
matthewchae@NUMBER1EXPERT.com
With over 30 years in northern Virginia and more than 13 years of sales and consulting experience, Matthew uses his wealth of real estate market knowledge and experience to provide his clients with the best experience during a real estate transaction. He understands that home buying or selling is a very big step and works diligently to make sure his clients are taken care of and supported throughout the entire process. His goal is NOT to “sell” his clients but rather to consult and help them on their real estate needs.
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