Capital Gains

 There are Capital Gains tax consequences for selling your personal residence before you have owned it for two years. Everyone should consult thier tax advisor before proceeding into any financial situation that could incur a tax but here are a few links with some information that may be helpful to anyone wondering what to consider before selling.

 There are short and long term investments and here is a short article to explain the difference:

http://www.googlerealestate.com/short-term-vs-long-term-capital-gains/

 If you should hold your primary residence for two years or over it is a different story. The next link will explain our current capital gains real estate tax laws. When I say current – We never know what our law makers might be up to!

http://taxes.about.com/od/taxplanning/qt/home_sale_tax.htm

The real estate market in Irvine and southern Orange County is improving. If you are considering placing your home on the market and would like to know what it is worth in today’s market,  just visit my web site IrvineVillages.com and complete a short home value  form with details about your home. I am also easy to reach via phone or text at 949-275-6544.  Looking forward to hearing from you.

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