Buy or Sell Homes in South East Valley of Arizona

Your primary residence isn’t an investment, this has been said time and again (especially since the market crashed entirely), but that doesn’t mean that when you go to sell you have to take a loss. Far from it. In fact, as of the writing of this article,  you’ll likely qualify for a tax exclusion  (meaning you won’t pay taxes on this amount of profit from your home sale) of $250,000 if you file on your own or $500,000 if you and your spouse file your taxes together. But, if you sold and there was more than the applicable amount in gains, you’ll have to pay taxes only on the profit above the mark. When you have all your ducks in a row, it gets a lot easier to see what side of that line you stand on. Reducing Your Tax Burden is the Goal When your gain from your home sale exceeds your tax exclusion, there are two ways to help improve the situation with all those receipts you’ve been saving (you have been saving them, haven’t you?). First, you can deduct expenses related...

Elaine Beery of Beery Realty is pleased to announce she has completed course work to earn the designation as a Real Estate Collaboration Specialist – Divorce™ RCS-D™ REALTOR® in Arizona. She is professionally trained to review real estate as a business transaction, working in the best interest of each divorcing spouse. “When you bought your house, you probably didn’t think about how a potential divorce could impact whether to sell or keep it. You bought it to be your family home and as such, you want to make sure you’re getting the most value from it, even if that means selling it as part of the divorce settlement,” says Beery. Working as part of your divorce team. Elaine specializes in assisting with providing essential evidence of the house value prior to property negotiation or mediation. This is important because an appraisal minus the mortgage does not equal the actual equity of the home. It isn’t a complete equation and may leave your home overvalued which can work against y...