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A Top Notch Realtor
"I think back to when you first began driving us around to look at houses. You were wonderfully patient with our ups and downs...all our whims...trying to help us decide what we really wanted. You were always calm and understanding. We had always heard that one should look diligently for a top-notch real estate agent before embarking on a house-buying endeavor. We could not have fared any better, and we couldn't be more thrilled with our home."
Jackie & John Haynes
You have a story to tell about us. You've worked with us, and we've helped you buy or sell a home. We need your feedback. Others need your feedback, too! Please take a moment to fill out this form and tell us how we did... 
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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What is the most unusual maintenance project done once each year in the United States?
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The Niagara Falls is shut down for maintenance every year in the fall by diverting the flow of water for 24 hours using a massive series of pipes constructed in 1837.
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 See More Real Estate Trivia > |
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The Cindy Wadsworth Team
Keller Williams Real Estate
910 Harvest Drive - Suite 100
Blue Bell, PA 19422
(Each Office Independently Owned & Operated)
Direct:: 215-264-6727
Office: 215-646-2900
Fax: 215-654-6037
cindywadsworth@NUMBER1EXPERT.com
Licensed PA Realtors
Cindy Wadsworth's License #RS179964L
Harry Green's License #RS288663
Christina Brown's License #RS289762
Harold "Howie" Riley's License #RM420278
   
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