
Find Out About the Latest Homes for Sale First! I add the newest homes and other real estate listings to this web site first. It can be some time before they appear in the MLS. Find Out More > View All Offers >
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Find out why I am a top producing luxury home specialist in Santa Fe. Call me toll free 1.888.300.5580 Local: 505.988.4040
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"Professional" "....professionalism, enthusiasm and knowledge of the market... it's awesome." " - Dr. Mary Anderson, buyer" Read Quote > View All Quotes >
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Compare three mortgages at one time.
Download TripleCalc now. It's free.
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Santa Fe, New Mexico is a choice lifestyle and Santa Fe Exclusives is your best source for finding the homes, condos, townhomes, equestrian property, or land of your dreams in and around Santa Fe, NM. As Santa Fe's only real estate company specializing in luxury homes, we know Santa Fe and its surrounding areas intimately. Our real estate brokers work with you on a personalized basis to find the ideal Santa Fe dream home, whether it’s adobe, pueblo style, territorial, pitched-roof Northern New Mexico, Santa Fe contemporary, or anything in-between. Search the entire IDX real estate inventory of the Santa Fe area by clicking on Search Santa Fe IDX Inventory.Toll Free: 1.888.300.5580
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Don't miss the Featured Property listings in the upper right column. These are my top picks of currently available luxury properties in Santa Fe. Need Santa Fe Real Estate information? I've summarized much of what is important about the luxury home market in my site. Click on Local Info for everything you need to know about Santa Fe. You'll find information about Performing Arts, Indian Market, Local Schools, Galleries, Restaurants, and much more. Email me.I will answer your questions promptly. This site is filled with ways that you can contact me for one-on-one expert help and advice. I guarantee your privacy will be respected. And, if you are fortunate enough to already own a home in Santa Fe, I have buyers waiting. Call me first. Kindest regards, - Nobél Davis, Broker Toll free: 1.888.300.5580 |
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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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| Q |
What site discovered in 1965 is considered the world's oldest known habitation?
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| A |
The Terra Amata site in Nice, France has the remains of 21 huts belonging to the Acheulian culture from 400,000 years ago. |
See More Real Estate Trivia > |
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Get The Latest Listings Before
Anyone Else! As soon as another home is listed for sale, I'll email you.
You'll know first.
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Nobél
Davis is one of The Top Selling Santa Fe Real Estate Experts Find Out More >
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