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Innovative Marketing. Distinctive Service. The Way it Should Be! Call us at 847.783.6118
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Find Out About the Latest Homes for Sale First!
We add our newest homes and other real estate listings to this web site first. It can be some time before they appear in the MLS.
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"It was a pleasure working with you!!"
The service and interaction at every step was excellent. It was a pleasure working with you. Above all, you kept us as stress free as possible!
Douglas and Marlene Riker, West Dundee
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Hilda & Dave Jones is one of
The Top Selling Real Estate Experts™
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Elgin, West Dundee, Carpentersville Photo Gallery
Request our Free Elgin, West Dundee, Carpentersville Relocation Package. It's packed full of useful and important information about the Elgin, West Dundee, Carpentersville, Illinois area. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out...
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Tax Considerations >Tax Breaks
Most homeowners are keenly aware of the interest tax deduction on their home loan, but there are many other tax breaks which are often overlooked at income tax time. Pro-rated property taxes and mortgage interest in the year of sale are deductible. You will find these amounts listed on your closing settlement statement. If you paid off your mortgage and had to pay a pre-payment penalty, it qualifies as tax deductible interest. If you paid an "acquisition mortgage loan fee" on a home loan, this fee can be deducted as itemized interest. Home improvement loan fees are also deductible. Any remaining loan fees from re-financed or paid-off mortgages are fully deductible at the time of the mortgage payoff.
Certain items don't qualify as deductions, but can be added to the cost basis of your home, such as transfer taxes, recording and title fees, and special local property tax assessments for new sidewalks, streets, or sewers.
Don't be intimidated by the tax code! A little research or consultation with an expert can help you maximize your real estate tax advantages.
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| Q |
In what area of the United States did the price of existing homes increase most dramatically in 2005?
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| A |
Phoenix, Arizona real estate recorded a 55.2 percent increase in home prices during 2005. |
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- NUMBER1EXPERT™ 
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