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"Complete Satisfaction"

We would like to express our complete satisfaction with the Coldwell Banker Real Estate team of Jim & Lynne Knurr. Two years ago they were our realtors when we were house hunting to relocate into the Milwaukee metro area. When we needed to sell our home in Milwaukee to move to Northern California, we chose their help again. In both of the cases we have been extremely pleased with their professionalism as well as their ability to be so personable that they become like part of our family! Jim & Lynne are very hard-working and we appreciated their amazing ability for attention to detail. Every step of the way their first concern was always about how to lessen the anxiety of relocating and making it as easy on us as possible.

Sincerely,

Mike & Sally 

Mike & Sally

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Real Estate Tips
Tax Considerations >Tax Implications of Selling Your House

Most of my clients profit from selling their homes, and they often have questions about capital gains tax. When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010. Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption. Consult your tax accountant for more detailed information regarding your particular circumstance.

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Real Estate Trivia
Q 
Where was the actual location of the fictional Genovian Consulate in the 2001 Disney comedy, "The Princess Diaries"?

A 
The historic Doheny mansion, located on the campus of Mount St. Mary's College, near downtown Los Angeles.
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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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