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"...you were able to sell our home for a profit during a tough housing market"
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Quickly Find Out What that Home Down the Street Sold For, By Email, for Free. If you are considering selling your Scott Air Force Base SAFB, Shiloh, O'Fallon and Swansea, Illinois 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 Scott Air Force Base SAFB, Shiloh, O'Fallon and Swansea neighborhood. We can help! We can tell you exactly what any home sold for in your area. We will furnish you with a list of homes that have recently sold on your street or in your neighborhood. We can also tell you about homes similar to yours that are currently for sale. This service is entirely free, without obligation. As top Scott Air Force Base SAFB, Shiloh, O'Fallon and Swansea real estate agents, this is part of the service that we provide to home sellers on a daily basis.  Find out what a home or property sold for, by email, for free! It's our job to help you determine real estate values in Scott Air Force Base SAFB, Shiloh, O'Fallon and Swansea! There's no obligation, and we promise to get back to you quickly...
Tax Considerations >Taxable Profits
If you are thinking of selling your home and your house has risen in value since you purchased it, or you have accumulated a lot of deferred profit from previous sales, the Taxpayer Relief Act passed in 1997 could be of tremendous value.
Prior to this law, when a homeowner moved to a smaller home, relocated to a less costly area, or made a decision to rent, they were left with unfavorable tax consequences. The old tax law allowed people who sold their homes to defer tax on any profit by buying a replacement home of at least equal value within two years. At age 55, they could permanently escape tax on up to $125,000 of profit, but any profit in excess of that amount was taxable unless a new home was bought.
The good news is that with homes sold after May 6, 1997, homeowners can make as much as $500,000 tax-free profits on the sale of a principal residence for joint filers or $250,000 for single filers. The $500,000 capital gains exclusion removed taxes as a consideration for most home sellers by giving them flexibility to trade up or down. It has also allowed homeowners to preserve the savings value of a home when they sell, provided they use the property as their principal residence for two of the prior five years prior to the sale.
Consult your tax advisor for your particular circumstance.
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| Q |
Which house over 100 years old still holds the title as the largest house in the U.S.?
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| A |
The 250-room Biltmore House in Asheville, NC, built 1890-1895 at a cost of $4.4 million, is the largest house in the US. |
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 Photo Credit: U.S. Air Force photo by Master Sgt. Val Gempis
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