Welcome to Your Real Estate Resource!!!
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Continually, the central Oklahoma real estate market is where to be -- We are happy to help you find a home in Oklahoma City all the way North to Edmond, Deer Creek, or Guthrie all the way South to Moore and Norman. Or even East to Choctaw, Del City/Midwest City or West to Yukon or Piedmont. When you see everything that is going on around the country, it is refreshing to see our market has remained stable. Buyers still have an opportunity to make a purchase on a home with great interest rates. To start your own search today -- it's just a click away. Just touch OKHomeSearcher for quick access to ALL Oklahoma City Metro Area Listings. Or you can try something old fashioned like calling our toll free number 800-579-1992 or local 405-330-2777. Hope to hear from you soon. The Local market continues to remain strong compared to other regions in the U.S. |
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Tax Considerations >Taxpayer Relief
Legislation included in the 1997 federal budget made significant changes that improve a homeowner's ability to profit from the sale of real estate.
The capital gains tax exclusions on the sale of a principal residence is just one of several benefits for homeowners. When you sell a home you have owned and use for two of the five years prior to the sale, married couples are allowed to keep up to $500,000 in tax-free profits and taxpayers filing as singles can keep up to $250,000 before paying capital gains tax.
Long-term capital gain is also taxed at lower rates as a result of the Jobs and Growth Tax Relief Reconciliation Act passed in 2003. The maximum capital gains tax rates dropped from 20% to 15% and from 10% to 5%, effective for sales and exchanges taking place on or after May 6, 2003 and through December 31, 2007. In 2008 the 15% rate continues for higher income taxpayers, while the 5% rate for lower income taxpayers drops to 0%, but only for the 2008 tax year. On January 1, 2009, the 10% and 20% rates will be reinstated.
Consult your tax advisor for advice regarding your particular circumstance.
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| Q |
What do 84% of homebuyers who use the Internet to search for homes have in common?
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| A |
They use a real estate agent to purchase their home.
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- NUMBER1EXPERTS™ 
