Savannah, Richmond Hill and West Chatham/Pooler real estate and homes for sale in Georgia - Eric A. Davidson, SR, REALTOR® Eric A. Davidson, SR REALTOR(r) for Savannah, Richmond Hill and West Chatham/Pooler, Georgia real estate - NUMBER1EXPERT™ Eric A. Davidson, SR NUMBER1EXPERT(tm) for Savannah, Richmond Hill and West Chatham/Pooler, Georgia real estate
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Eric A. Davidson, SR, REALTORŪ, real estate agent and broker for Savannah, Richmond Hill and West Chatham/Pooler Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)
All agents are NOT alike! Find out why I am a top real estate expert. Call me: 912-373-5701.


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My Special Offers: Savannah, Richmond Hill and West Chatham/Pooler Georgia home buying, real estate listings, and homes for sale in Chatham, Bryan and West Chatham/Pooler, GA
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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 
On what famous American street can you find the most expensive retail space for rent anywhere in the world?

A 
Fifth Avenue, New York City, U.S.A. offers retail space for rent at the rate of $580 per square foot.
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Eric A. Davidson, SR, REALTORŪ, real estate agent and broker for Savannah, Richmond Hill and West Chatham/Pooler Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)

Eric A. Davidson, SR
Keller Williams Realty Coastal Area Partners

3 Oglethorpe Professional Blvd.
Savannah, GA. 31406
912-790-6042
912-356-5001
Fax: 912 356-5101
Email: ericdavidson@NUMBER1EXPERT.com

Sales Person of the year in 2001. Sales Manager from 2002-2005 overseeing the sale of 400 homes for $70 million. Specializing in Berwick Plantation, West Chatham and Richmond Hill.

Equal HousingMLSREALTOR


Keller Williams Realty Coastal Area Partners real estate and homes for sale in Savannah, Richmond Hill and West Chatham/Pooler Georgia

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