Almost everybody has heard about the $7500 tax credit for first-time home buyers, but what about tax breaks for home sellers? Home sellers enjoy a tremendous tax benefit upon resale. Internal Revenue Code Section 121 authorizes an “exclusion” — escape from income taxes — for profits from home sales. The exclusion is as much as $500,000 for married couples who file joint returns, and $250,000 for single filers and couples who file separate returns. What happens, though, when the gain is greater than the exclusion ceiling of $500,000 or $250,000? Answer: The excess is taxed as a long-term capital gain at a maximum rate of 15 percent, plus applicable state taxes. The key requirement: Own and live in the property as your principal residence for periods aggregating at least two out of the five years ending on the sale date, and at least two years must have elapsed since you last used the exclusion.
For more information do not hesitate to contact me or visit my website @
www.longhilltownshiphomes.com
Showing posts with label gillette. Show all posts
Showing posts with label gillette. Show all posts
Wednesday, January 6, 2010
Tuesday, June 9, 2009
44 Cottage Place, Gillette, NJ - Great new price - offered at $649,999
Move right in to this spacious 4 bedroom, 2 1/2 bath home located in the Gillette section of Long Hill Township. Nestled on over 1/2 an acre of wooded property this home offers an updated, eat-in-kitchen with stainless steel appliances. Large rooms with beautiful hardwood floors throughout (1st floor recently refinished). Family room with wood-burning fireplace and a partially finished basement great for exercise/recreation room. Exterior freshly painted! Close to NYC trains.
For more information feel free to contact me or visit my website @ www.longhilltownshiphomes.com
Friday, April 10, 2009
GREAT NEW PRICE!!!
Move right in to this spacious 4 bedroom, 2 1/2 bath home located in the Gillette section of Long Hill Township. Nestled on over 1/2 an acre of wooded property this home offers an updated, eat-in-kitchen with stainless steel appliances. Beautiful hardwood floors throughout (1st floor recently refinished). Family room with wood-burning fireplace and a partially finished basement great for exercise/recreation room. Exterior freshly painted! Close to NYC trains.
For more information, or to request a showing, please feel free to contact me @ (908) 432-5721 or visit my website @ www.longhilltownshiphomes.com.
Wednesday, April 1, 2009
LONG HILL TOWNSHIP MARKET UPDATE - MARCH 2009
The following are the numbers for real estate in Long Hill Township for the month of March 2009:
March 2009
New Listings - 20
Under Contract - 5
Closed Sales - 3
Inventory is definitely picking up for the Spring market. Active inventory in Long Hill Township is currently at 63. Out of the 5 homes which went under contract in March, 2 were over $500,000. One of those homes was on Laura Drive. It was only on the market for 11 days before it went under contract. This home was priced nearly $90,000 less than the last sale on Laura Drive, which was in September 2008. 211 Sherwood Lane went under contract in March and also sold in March after 138 days on the market.
To search all active properties in Long Hill Township visit my website at www.longhilltownshiphomes.com. Please do not hesitate to contact me with any questions.
Dianne Sommers
Realtor Associate
March 2009
New Listings - 20
Under Contract - 5
Closed Sales - 3
Inventory is definitely picking up for the Spring market. Active inventory in Long Hill Township is currently at 63. Out of the 5 homes which went under contract in March, 2 were over $500,000. One of those homes was on Laura Drive. It was only on the market for 11 days before it went under contract. This home was priced nearly $90,000 less than the last sale on Laura Drive, which was in September 2008. 211 Sherwood Lane went under contract in March and also sold in March after 138 days on the market.
To search all active properties in Long Hill Township visit my website at www.longhilltownshiphomes.com. Please do not hesitate to contact me with any questions.
Dianne Sommers
Realtor Associate
Monday, April 7, 2008
143 King Drive, Gillette, New Jersey
Move right in to this lovely, updated split level home on a dead end street. Kitchen boasts granite countertops, stainless steel appliances, and cherry cabinets. Formal dining room and living room with hardwood floors. Updated main bathroom and powder room. Hardwood floors (under carpet) throughout the three bedrooms Relax in the cozy Sunroom overlooking a private backyard.
There are numerous parks and recreational facilities in the area.
Close to NYC Train & Bus. Minutes from Routes 78 & 287.
Easy Access to Shopping, and Entertainment.
For more information visit my website at www.longhilltownshiphomes.com or call my cell at (908) 432-5721
Thursday, October 25, 2007
PRICE REDUCTION - 248 Tanglewood Trail, Gillette, New Jersey
$889,900
Move right in to this beautiful custom colonial nestled at the end of a cul de sac. This home offers a two story foyer, front and back staircases,3 fireplaces, a sunken living room and family room with a vintage mantel. There is a large EIK with center island and granite counter tops, formal dining room and library. Enjoy your 35ft master suite with 2 walk in closets, a sitting area and fireplace.Your master bathroom has a jacuzzi tub with an over-sized stall shower and two vanities. The full finished basement has a large recreation room with a fireplace and a game room. All this and a gorgeous, level backyard boasting a very private serene setting!
In walking distance to NYC trains and buses.
For more pictures and a virtual tour visit my web-site at: www.longhilltownshiphomes.com
Move right in to this beautiful custom colonial nestled at the end of a cul de sac. This home offers a two story foyer, front and back staircases,3 fireplaces, a sunken living room and family room with a vintage mantel. There is a large EIK with center island and granite counter tops, formal dining room and library. Enjoy your 35ft master suite with 2 walk in closets, a sitting area and fireplace.Your master bathroom has a jacuzzi tub with an over-sized stall shower and two vanities. The full finished basement has a large recreation room with a fireplace and a game room. All this and a gorgeous, level backyard boasting a very private serene setting!
In walking distance to NYC trains and buses.
For more pictures and a virtual tour visit my web-site at: www.longhilltownshiphomes.com
Monday, July 23, 2007
Market update - Pricing homes to sell
Each and every home that is put on the market will sell if it's priced right! Regardless of the location or the condition of the home, again, every home will sell. It is crucial to get this fact across to our sellers.
We need to make sure that we are thorough in our research of the recent comparable sales and then suggest a price to the seller which makes the home more attractive than its competition.
Let’s get aggressive with broker open houses, public open houses, “just listed” mailers and plenty of internet marketing.
Many Realtors are being faced with sellers that "have to walk away with a certain amount of money out of the sale." We are seeing sellers write a check at the settlement table if they really want to sell. We are also seeing sellers not listen to the advice of their Realtors and they are remaining steadfast on their “have to walk away with” price. These are the homes that are continually expiring.
In our area we are seeing multiple offers on listings if the home is priced correctly, and we are also seeing homes expire which are not priced correctly! Which listings would you rather have?
In the month of June 2007 the following occurred along the mid-town direct train line in New Jersey:
Long Hill Township
New Listings - 17
Under Contract Listings - 07
Sold – 10
Average sales price - $537,000
Berkeley Heights
New Listings – 20
Under Contract Listings - 8
Sold – 20
Average sales price - $638,000
New Providence
New Listings - 16
Under Contract Listings - 10
Sold – 13
Average sales price - $534,000
Summit
New Listings - 31
Under Contract Listings - 20
Sold – 30
Average sales price - $1,307,000
Prepared By:
Dianne Sommers
RE/MAX Classic Group
Serving Long Hill Township (Millington, Stirling, Gillette, Meyersville), Berkeley Heights, New Providence & Summit
We need to make sure that we are thorough in our research of the recent comparable sales and then suggest a price to the seller which makes the home more attractive than its competition.
Let’s get aggressive with broker open houses, public open houses, “just listed” mailers and plenty of internet marketing.
Many Realtors are being faced with sellers that "have to walk away with a certain amount of money out of the sale." We are seeing sellers write a check at the settlement table if they really want to sell. We are also seeing sellers not listen to the advice of their Realtors and they are remaining steadfast on their “have to walk away with” price. These are the homes that are continually expiring.
In our area we are seeing multiple offers on listings if the home is priced correctly, and we are also seeing homes expire which are not priced correctly! Which listings would you rather have?
In the month of June 2007 the following occurred along the mid-town direct train line in New Jersey:
Long Hill Township
New Listings - 17
Under Contract Listings - 07
Sold – 10
Average sales price - $537,000
Berkeley Heights
New Listings – 20
Under Contract Listings - 8
Sold – 20
Average sales price - $638,000
New Providence
New Listings - 16
Under Contract Listings - 10
Sold – 13
Average sales price - $534,000
Summit
New Listings - 31
Under Contract Listings - 20
Sold – 30
Average sales price - $1,307,000
Prepared By:
Dianne Sommers
RE/MAX Classic Group
Serving Long Hill Township (Millington, Stirling, Gillette, Meyersville), Berkeley Heights, New Providence & Summit
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