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"Best In the Buisness"

Coldwell Banker and, more specifically, The Knurr Team, were amazing throughout the entire ordeal of trying to prepare my home for sale, and actually finalizing the sale. It started out as an easy decision...sell my home on the lake. With a few upgrades and some staging, it was ready. Then came the inspection. Too many unforeseeable problems [Basement Issues] and I was immediately concerned. I didn’t think I could get everything done. Lynne Knurr and her team arranged for all the work to be done in order for the sale to continue. I truly feel that without Lynne's tenacity, knowledge of the real estate world, and her patience, this sale would have fallen through. My home needed thousands of dollars of fixes due to the problem with the basement. Lynne kept the buyers and me informed and calm throughout the process. Then, by a simple mistakenly checked box on the appraisal form, the house was determined to be in a flood plain. Simple mistake, but not such a simple fix. Again, Lynne handled the situation gracefully, kept on all the key people and still got the job done. Through it all, Lynne and her team kept me informed and ready for the next step. When the closing finally came, we had one more snag due to the title company's error, but again, Lynne had it handled. I would highly recommend Coldwell Banker, and in particular, the Knurr Team for any real estate you need to buy or sell. The professionalism, deep knowledge, and willingness to help in any way they can make Lynne Knurr the best in the business. 

J.M.

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Real Estate Tips
Tax Considerations >Tax Rewards for Homeowners

The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.

Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.

The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.

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Real Estate Trivia
Q 
What two streets near the Los Angeles Beverly Center were named for a famous husband and wife comedy team?

A 
George Burns Drive and Gracie Allen Way
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Lynne & Jim Knurr, REALTOR®, real estate agent and broker for Lake Country, Brookfield and Menomonee Falls, Wisconsin home listings, property and land for sale - NUMBER1EXPERT(tm)

G.M. & The Coach
Lynne & Jim Knurr

Coldwell Banker Residential Brokerage
20350 Watertower Blvd.
Brookfield, WI 53045
414-350-8345
Fax: 262-798-8441
lynneknurr@NUMBER1EXPERT.com

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