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| The Homeowner Gain Exclusion Deduction |
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Written by Diane Kennedy
It's been 10 years since Congress brought us the homeowner gain exclusion deduction -- one of the most powerful and useful tax-saving tools ever given to homeowners.
The deduction itself is simple: If you have lived in your home for two out of the previous five years, you get a tax break when you sell it. If you're married and you file a joint tax return the first $500,000 of gain (the difference between what you paid to buy the property and what you sold it for) you make on the sale is tax-free. If you're single, you get a tax break on the first $250,000 of gain.
If you would like to read more on this article
click here
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| Downpayments Shrivel as 100 Percent Financing Becomes The New Norm |
Written by Kenneth R. Harney
Leverage is a key concept in real estate-buying a lot with a little, but among recent home buyers it has reached extraordinary levels. New survey research using a representative sample of purchasers found that at least among first-time buyers, downpayments have withered to the point of virtually disappearing.
The National Association of Realtors polled 7,548 consumers who bought homes between mid-2005 and mid-2006. Forty-five percent of first-time buyers financed 100 percent of the transaction-they made no downpayments whatsoever.
Click here
to read more.
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