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Welcome! Here You Can Find Great Information on Lake Conroe, Conroe and The Woodlands, Texas Real Estate  Looking for homes? Search everything the web has to offer, right here! Don't miss my Feature Homes. Need local real estate information? I've summarized much of what is important about the Lake Conroe, Conroe and The Woodlands real estate market in this site. Need expert advice? No web site, large or small, can take the place of a top real estate agent. Not even mine! This site is filled with ways that you can contact me for one-on-one expert help and advice. That's my job. Contact me with confidence! I guarantee your privacy will be respected. And I offer the services on this site for free and without obligation. Why? I want to be YOUR real estate agent. As your trusted, professional real estate partner, I will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As a top Lake Conroe, Conroe and The Woodlands real estate agent, I have the experience and track record you are looking for. Please let me help. - Pat Wilson-Thomas, CRS 
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Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
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Who is "Freddie Mac", and why is he a big name in real estate?
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| A |
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans. |
 See More Real Estate Trivia > |
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Pat Wilson-Thomas, CRS
Elite Real Estate Professionals
12818 Hwy 105 W Suite 2 - J
Conroe, TX 77304
Direct: 936-524-0009
Office: 936-524-0009
Fax: 936-647-2749
Email: PatWilson@NUMBER1EXPERT.com
Pat Wilson - Thomas, CRS is the NUMBER1EXPERT™ in the Lake Conroe area. She has a proven track record that few agents can match! She brings Knowledge, Commitment, and Trust that surpasses the normal Realtor. Pat Wilson is a professional that has your best interest in mind.    
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