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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 773-208-3288.
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Buyers Want Your Home for as Little as Possible. Are you thinking of selling your home? You should know exactly what it's worth before making such an important decision. Find Out More > View All Offers >
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Compare three mortgages
at one time. Download TripleCalc now. It's free.
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Download TripleCalc for FREE. It's My Gift to You. You can compare three loans at one time with TripleCalc software. The software installs easily on your Windows PC. You don't have to be online to use TripleCalc, like the other calculators on my site. You can leisurely compare three loans from three different lenders, and try different scenarios to see which loan is best for you. TripleCalc would cost you about $30 elsewhere, but you can have it for FREE. It's my gift to you for visiting my Lincoln Park, Lakeview and West Loop web site. You can send copies of TripleCalc to all your friends and associates. Click on the Download link below to get TripleCalc. It's a small file (about 225k) so it will download quickly. Save it on your hard drive, and then double-click on it. You'll see that it installs in a snap...
Download
TripleCalc Now!

This is what TripleCalc
will look like on your Windows PC. You can compare 3 loans,
at one time -- and you don't have to be online. TripleCalc
lets you get a leg up on complicated loan comparisons. |
Includes 8 other calculations
you can't do without:
- Simple Mortgages with P.I.T.I.
- Pre-qualifying mortgages
- Plus lease, investment, balloon payment and
other calculators.
- Every calculator uses the super-convenient
"compare three at once" format.
- It's FREE.
Download
TripleCalc Now!
Download
TripleCalc Now!
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First Time Buyers >Your Principal Residence
The Federal Tax Code allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles can exclude $250,000). In order to qualify for this exemption, you must prove that that the home has been your principal residence for at least two out of the last five years. The establishment of the home as a principal residence depends on the facts of each homeowner's circumstance. Here are two cases to consider.
Homeowner A has lived at 25 Pine Drive for 12 years. Although he stays at his vacation cottage in another town for up to three months out of each year (sometimes more), 25 Pine Drive is his principal residence, where he lives most of the time. When he sells the home, Homeowner A (filing as a single individual) can keep up to $250,000 in tax-free profit.
Homeowner B buys 108 Maple Street, intending to live there. He rents it out while waiting to sell his current home, where he has lived for six years. His principal residence sells at the end of two years. Homeowner B moves into his new house, lives there for three months, and then decides to travel. After a six-month trip, he regrets buying 108 Maple Street and sells it. Even though he has owned the house on Maple Street for over two years, it won't qualify as "owner-occupied", because he only lived in it for a few months. Thus Homeowner B is not eligible to claim the tax exemption when he sells the house on Maple Street.
Consult your tax advisor for advice about your particular circumstance.
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| Q |
From 1974 to 1996, what was the world's tallest habitable building?
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| A |
The Sears Towers, headquarters for Sears, Roebuck & Co., with 110 stories and 1,454 feet high. |
See More Real Estate Trivia > |
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Clare Spartz Keller Williams Lincoln Park 2106 N. Clark St. Chicago, IL 60614 Cell: 773.208.3288 Fax: 773.871.0933 clare@claresellshomes.com
There is no place like Chicago and no Realtor like Clare Spartz. Clare’s extensive knowledge of Chicago neighborhoods and nearby suburbs gives her the edge and you the advantage when BUYING a new home. Knowing the market stats, being a superior negotiator and having a full-service support team including mortgage lenders, home inspectors and closing attorneys ensure you will get the right home, right price and a smooth process. Thinking of SELLING your home? There is no other Realtor who makes sure yours is the most marketable home to get top dollar and a quick turn-time. Clare Sells Homes, Inc offers HOME STAGING to ensure all homes go to market ‘best dressed’ for the perfect first impression and robust MARKETING and ADVERTISING so your home gets noticed first! What ever your real estate needs, you’ll want to share your great Clare Sells Homes experience with your friends! Call or email to start your home buying or selling story! 

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