Westport, Weston and Fairfield real estate and homes for sale in Connecticut, luxury homes - Darcy Sledge, REALTORS® Darcy Sledge REALTORS(r) for Westport, Weston and Fairfield, Connecticut real estate and luxury homes - NUMBER1EXPERTS™ Darcy Sledge NUMBER1EXPERTS(tm) for Westport, Weston and Fairfield, Connecticut real estate and luxury homes
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Darcy Sledge, REALTOR®, real estate agents and broker for Westport, Weston and Fairfield Connecticut home listings, property and land for sale - NUMBER1EXPERT(tm)
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Resources: Westport, Weston and Fairfield Connecticut home buying, real estate listings, and homes for sale in Fairfield                      County, CT
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Real Estate Tips: Darcy Sledge's realty library of real estate tips and advice on everything from preparing your home for sale to negotiating with home buyers to escrow, closing costs, property inspections, and mortgage brokers
Real Estate Trivia: Darcy Sledge's collection of real estate trivia questions and answers that include real estate topics such as the most expensive home, largest swimming pool, and more
Real Estate Dictionary: Complete real estate dictionary and glossary of realty words you'll use when you list and sell your Westport, Weston and Fairfield property in Connecticut, including legal terms definitions, and more



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Real Estate Tips
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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Real Estate Trivia
Q 
What has a tremendous impact on the U.S. economy, comprising between $10-$15 trillion of the nation's wealth?

A 
Real Estate--it goes through cycles, but still has a long-term record of strong investment return.
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Darcy Sledge, REALTOR®, real estate agents and broker for Westport, Weston and Fairfield Connecticut home listings, property and land for sale - NUMBER1EXPERT(tm)

Darcy Sledge
Prudential Connecticut Realty

272 Post Road East
Westport, CT. 06880
Phone: 203-227-5117
Fax: 203-227-5619
Email: dsledge@prudentialct.com

Darcy Sledge brings the skills, background and expertise required in today’s competitive real estate environment. Because she has extensive roots in Westport, Weston, Wilton, Fairfield, Southport and surrounding areas, she can make sure that her clients choose the right area for them. Darcy has held a senior position in the business world, bringing a high level of professionalism to her clients. Her experience is extensive, including recognition as among the top 3% of Agents nationally, and she has been recognized by “Who’s Who”. Along with her staff, she makes full use of available technologies in all aspects of her work. Darcy's clients have consistently given her top ratings for unsurpassed service. Contact this award-winning Realtor for your real estate needs.

**Prudential Connecticut Realty is an independently owned and operated member of The Prudential Real Estate Affiliates Inc., and Prudential is a service mark of The Prudential Insurance Company of America.

Equal Housing REALTOR


Prudential Connecticut Realty real estate and homes for sale in Westport, Weston and Fairfield Connecticut

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