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Don and Marge Simpson, Bought home and sold two
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Testimonials
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We always ask our clients to write or email us, and tell us truthfully how they appreciated our service to them. Their feedback is so important! Here are a few highlights of what people are saying about us... 

Barry and Pam Lovett, bought home through Charles

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Bruce Alfred and Melanie Sherman

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Don and Marge Simpson, Bought home and sold two

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Ronald Butterfield

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Real Estate Tips
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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Real Estate Trivia
Q 
What three things are necessary in order to purchase a home?

A 
Some cash, a dependable income and good credit. If you fall short, don't despair--homeownership may still be possible.
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The Texas Team, REALTOR®, real estate agent and broker for Plano, Allen and McKinney, Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

The Texas Team
RE/MAX Premier Properties 1

5501 Independence Parkway
Plano, TX 75023
972-599-3309
Fax: 972-314-9434
charles@dallasreos.com

The Texas Team has sold over $500 million in residential real estate since 1998. Whether you are a buyer or a seller, you can count on us having only your interests in mind. We represent buyers and sellers all over the DFW metroplex and we specialize in all areas north of LBJ in Collin, Dallas, Denton and Rockwall counties.


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