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Across the street or across the country, Remember "It's Your Move!" Call Dee or Randy 972.625.4121 or 888.625.4121
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Be First To Find Out About Latest Homes for Sale I add my newest homes and other real estate listings to this web site first. It can be some time before they appear in the MLS. Find Out More > View All Offers >
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Compare three mortgages at one time. Download
TripleCalc now. It's free.
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Frisco, The Colony, Carrollton, Little Elm, Plano, McKinney, Prosper, and Allen Area Web Sites and Useful Maps
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NORTH TEXAS BEST
WEBSITES! |
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Area Guides and Chamber of
Commerce |
Transportation
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North Texas Local
Government |
News and
Media |
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DFW Economy and Local
Business |
Healthcare |
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|  | | | Courtesy of MapQuest.com | |
|  | | | Courtesy of MapQuest.com | |
|  | | | Courtesy of MapQuest.com | |
Request my FREE Relocation Package for Frisco, The Colony, Carrollton, McKinney, Plano, Little Elm, Prosper, Allen, Texas. It is packed full of useful and important information about these cities. I will send it to you for free and without obligation. Just fill out the form below. Remember, "It's Your Move!" - DEE 
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.
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| Q |
What does the common acronym FSBO (pronounced fizzbo) stand for?
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| A |
For Sale By Owner. (Between 85 to 95% of existing homes are sold with a Realtor's help.)
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See More Real Estate Trivia > |
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| "If you're thinking of selling your home
in the next year, let me provide you with a FREE Current Market Evaluation and
a Suggested Listing Price." -DEE. |
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