Request Our Free Relocation Package. Don't Move To Albuquerque, Rio Rancho and Corrales Without It!   |  | | |
 Moving your family to another town or state is a major event in your life! We have helped many families and individuals relocate to and from the Albuquerque, Rio Rancho and Corrales, New Mexico area. If you will be moving to the Albuquerque, Rio Rancho and Corrales area, we can correspond by email and phone. Together, we'll determine what type of home, price range, and neighborhoods you are interested in. We'll send you every home or property that is currently available that matches your criteria. When you visit, we'll be ready! We will visit the Albuquerque, Rio Rancho and Corrales neighborhoods and homes that interest you the most. In addition, we can talk about schools, sub-divisions, local market conditions, local culture... anything that is important to you. Remember: As top Albuquerque, Rio Rancho and Corrales REALTORSŪ, it's our job to know this area inside and out, and we want to make your transition as smooth as possible.
Are you new to the area? Request our FREE package of Albuquerque, Rio Rancho and Corrales relocation information. It's our job to help! There's no obligation, and we promise to respond quickly...
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Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
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What price range is considered upscale or high-end in residential real estate?
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The price range varies depending on the local market, but upscale homes are in the top 10% of an MLS area's annual home sales. |
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Alliance Pest Management Services
Save $30 on your initial Four Seasons or any Tactical Service Package! Coupons available during the Simon Evening of Giving at Cottonwood Mall.
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