Berkeley, Albany and El Cerrito real estate and homes for sale in California - Terrence Jue, REALTOR® Terrence Jue REALTOR(r) for Berkeley, Albany and El Cerrito, California real estate - NUMBER1EXPERT™ Terrence Jue NUMBER1EXPERT(tm) for Berkeley, Albany and El Cerrito, California real estate
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Terrence Jue, REALTOR®, real estate agent and broker for Berkeley, Albany and El Cerrito California home listings, property and land for sale - NUMBER1EXPERT(tm)
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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 is the only land in the world that has not been walked on by human feet?

A 
A small 200 square-mile section of Antarctica is the only terrain on Earth that not one person has stepped foot on.
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Terrence Jue, REALTOR®, real estate agent and broker for Berkeley, Albany and El Cerrito California home listings, property and land for sale - NUMBER1EXPERT(tm)

Terrence Jue
Prudential California Realty

2095 Rose St.
Berkeley, CA. 94709
Office: 510 868-1471
Cell: 510 295-8836
Fax: 510 540-9957
Email: Terrence@TerrenceJue.com

Meet Terrence Jue, an exceptional East Bay Real Estate Professional, Terrence came to Mason-McDuffie honored as Agent of the Year for 1987 – 1991 in recognition of his outstanding service to clients, and his continued high sales achievement. Since then at Mason-McDuffie/ Prudential California Realty he has received many outstanding honors. Both sellers and buyers love Terrence’s energetic, First-Class service. Clients respect him as “…a conscientious hard worker who really cares.” They call him “extremely honest and ethical.” One of his clients wrote to say, “Terry has destroyed all our misconceptions about Realtors.” His Broker says, “He is a true professional. Terry always come through!” With a 16-year background of architecture and construction, Terrence is expertly qualified to provide clients with valuable insights about properties. To buyers and sellers he offers a free professional consultation on how to improve the value of a home. Terrence’s strategy is to educate his clients so they understand the local real estate market and can recognize a good – or great – deal when they see one. Choose your agent carefully! If you are seeking a real estate agent to represent you, call Terrence now. Meet him and evaluate his knowledge, abilities, personality, and style. You’ll discover for yourself why Terrence is so highly regarded by his many satisfied clients. For Personalized service from a Personal Agent.

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Prudential California Realty real estate and homes for sale in Berkeley, Albany and El Cerrito California

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