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Monthly
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How Much Can You Afford?:
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Determine Tax Savings:
Calculate how much your monthly Annapolis, Crofton, and Edgewater
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Should You Rent or Buy?:
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Adjustable Rate Mortgages:
Adjustable rate Annapolis, Crofton, and Edgewater mortgages information
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What Is
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Fixed or Adjustable Rate
Mortgage?: Use this calculator to compare a fixed rate mortgage to two
types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. |
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Are
Balloon Mortgages For You?: Balloon mortgage calculator. A balloon
mortgage can be an excellent option for many home buyers. |
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15 vs. 30 Yr Mortgages: With
a 15 year mortgage you will pay significantly less interest, but only if you
can afford the higher monthly payment. Use this calculator to compare these two
mortgage terms. |
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How Much Should Your Income Be?:
What income is required to qualify for a mortgage? Use this calculator
to find out. |
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What's
Your Maximum Mortgage?:This calculator will help you determine your
maximum monthly housing payment and the resulting mortgage amount. |
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Will
Buying Points Save You Money?:This calculator helps you determine if
you should pay for points, or use the money to increase your down
payment. |
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TripleCalc:
FREE Software Download: TripleCalc lets you compare three loans at one
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Top National Real Estate Web
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NUMBER1EXPERTS: List of all the
NUMBER1EXPERT real estate agents and realty professionals and brokers in the
USA and Canada with links to their personal web sites with homes for
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Real Estate
Tips: David Noce's realty library of real estate tips and advice on
everything from preparing your home for sale to negotiating with home buyers to
escrow, closing costs, property inspections, and mortgage brokers |
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Real Estate Trivia:
David Noce's collection of real estate trivia questions and answers
that include real estate topics such as the most expensive home, largest
swimming pool, and more |
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Real Estate Dictionary:
Complete real estate dictionary and glossary of realty words you'll use
when you list and sell your Annapolis, Crofton, and Edgewater property in
Maryland, including legal terms definitions, and more |
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First Time Buyers >Your Principal Residence
The Federal Tax Code allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles can exclude $250,000). In order to qualify for this exemption, you must prove that that the home has been your principal residence for at least two out of the last five years. The establishment of the home as a principal residence depends on the facts of each homeowner's circumstance. Here are two cases to consider.
Homeowner A has lived at 25 Pine Drive for 12 years. Although he stays at his vacation cottage in another town for up to three months out of each year (sometimes more), 25 Pine Drive is his principal residence, where he lives most of the time. When he sells the home, Homeowner A (filing as a single individual) can keep up to $250,000 in tax-free profit.
Homeowner B buys 108 Maple Street, intending to live there. He rents it out while waiting to sell his current home, where he has lived for six years. His principal residence sells at the end of two years. Homeowner B moves into his new house, lives there for three months, and then decides to travel. After a six-month trip, he regrets buying 108 Maple Street and sells it. Even though he has owned the house on Maple Street for over two years, it won't qualify as "owner-occupied", because he only lived in it for a few months. Thus Homeowner B is not eligible to claim the tax exemption when he sells the house on Maple Street.
Consult your tax advisor for advice about your particular circumstance.
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| Q |
Where was the great land boom (1919) in which investors paid up to $25,000 for lots not yet dredged up from the ocean?
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| A |
The great Florida land boom brought hundreds of investors to the state after Carl Fisher founded Miami Beach in 1919. |
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