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Buyers: Here's some Great Facts
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DID YOU KNOW????
Facts Every Homeowner Should Know!
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For your personal residence property, all taxes and interest payments are deductible on your federal and state income tax returns. 
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Often, a home is the main asset for an individual. It's one of the most valuable investments available.
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As an owner makes payments, a percentage of each amortized mortgage payment goes to the principal.
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Home ownership is one of the rare investments that you can enjoy by living in it.
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A REALTOR can show you any home, whether it is listed with a Real Estate company, a new home builder, or even a For Sale By Owner home.
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Working through a REALTOR to purchase a For Sale By Owner home is very wise. The REALTOR will look out for your interest.
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Your Real Estate professional can provide you with a list of items you’ll need to complete for your loan application so you’ll be prepared.
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A homeowner can exclude up to $500,000 of capital gain tax if married and filing jointly or up to $250,000 if single or filing separately. The home must have been the taxpayer’s principal residence for the previous two years.
- Beginning with May 07, 1997, there is no longer a requirement to purchase another home more expensive than the one sold. Homeowners are free to buy up or down with no tax consequences assuming their gain is less than the allowable amounts.
- Realtors are usually the most informed people on the neighborhoods that interest you.
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Did You Know?
In 1813, Residents of Saint Michaels were forewarned of a upcoming British attack. In the early morning of August 10, 1813 residents raised their laterns to the top of trees and the highest point of the mast on Ships. This caused the British to overshoot the town. Only one house fell victim to the attack and it's now known as the "Cannonball House." Since then the town has been referred as the town that fooled the British.
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Jim Wilson
Realtor, BS, MS, C2C, ePro
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We know most of our visitors simply wish to gather information, and hope when you are ready to discuss specific questions, you will contact us via my cell phone or email. We guarantee that all of your personal information ALWAYS remains confidential and proprietary. It is never shared nor sold to any source whatsoever.
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