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Current Selection: All Prices All Types All Locations New Selection Sorted By: Default New Sort
<Back to Page Previous Next Property 6 of 29 Selections
    New Listing - Well kept 3 bedroom ranch $119,900 
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Address:   757 Nash Road    City/ST:   Pittston, ME   Zip Code:   04345  
Location:   Pittston   Property Type:   Single Family Home   New or Resale:   Resale   
Square Footage:   1040   Bedrooms:   3   Bathrooms:   1  
MLS#   945415   Property Tax:   932  

Well kept 3 bedroom ranch on a quiet country road. Large eat-in kitchen w/ atrium door to private rear deck ! Efficient oil heating, full basement and two car garage for storage.

Last Updated: 8/14/2009 10:50:53 AM

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Real Estate Tips
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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Real Estate Trivia
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What are three of the best indicators of real estate market trends?

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Existing home sales, new home building and mortgage interest rates.
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Brady Palmer, REALTOR®, real estate agent and broker for Augusta, Mid Coast, Central Maine and Brunswick, Maine home listings, property and land for sale - NUMBER1EXPERT

Brady Palmer
Brady Palmer Real Estate

122 Brunswick Ave
Gardiner, ME 04345
207-582-0800
Fax: 207-582-0808
bradypalmer@NUMBER1EXPERT.com


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