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"We are now living . . . in our dream house"
"We had already been searching for a house with a succession of other realtors for a year and a half at the time we met Ellen. We met her on a Sunday, and on that Tuesday she showed us the perfect house, and we bought it on Wednesday! She gave us top-notch advice about how to write a successful contract and worked with the seller's agent to ensure that the seller accepted our contract without holding an open house or even waiting for any other contracts. Because of Ellen's expertise, professionalism, and flexibility, we are no living in our dream house, which we bought at a remarkably fair price given the overvalued Washington real estate market. "Having had such a great experience buying a house with Ellen, we naturally turned to her to sell our house. Again, she was simply amazing, and we sold our house for well over the asking price, after just three days on the market. The ad she placed in the Post was fantastic and drew hundreds of potential buyers to our open house. Her advice on readying out house for showing it was so good, we received 10 contracts, all at or above our asking price! She handled the contract presentation with finesse and sensitivity and really helped us make the best and most financially sound decision. "Ellen is down to earth, easy to work with, quick to ascertain her clients' needs and preferences, warm and friendly, and extremely professional. Her assistants were also wonderful to work with, and there was always someone available to assist us with anything we needed. Overall, it was a real pleasure to work with Ellen, and we are immensely appreciative to her for helping us find and buy our perfect house. "I recommend Ellen highly to anyone looking to buy or sell a house."
Carrie Irvin
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Tax Considerations >Beneficial Tax Laws American tax law offers a significant capital gains tax exemption that allows taxpaying homeowners to unlock home equity and end the spiraling cycle of "investing up." First-time buyers enjoy expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, rules that allow penalty-free withdrawals to purchase a home.
Every two years, married sellers of principal residences who file joint federal income tax returns are allowed a $500,000 exclusion ($250,000 for singles) from capital gains tax. For sales that took place after May 6, 2003, the maximum capital gains tax rates for profits above the exclusion dropped from 20% to 15% for higher income taxpayers, and from 10% to 5% for lower income taxpayers.
Homeowners can now consider several new options. People who find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity have been able to unlock their equity dollars, using the income to help their children buy a first home, take a luxury cruise, remodel the house or purchase a second home for vacation or retirement.
Consult your tax advisor for advice regarding your particular circumstance.
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| Q |
What acclaimed house built of stone, concrete, and glass is built over a waterfall?
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| A |
Fallingwater in Mill Run, PA, built by architect Frank Lloyd Wright, is one of the most-visited homes in the U.S.
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 See More Real Estate Trivia > |
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- NUMBER1EXPERTS™ 
