Penn Valley and Grass Valley real estate and homes for sale in California - Tim Fahey, REALTOR® Tim Fahey REALTOR(r) for Penn Valley and Grass Valley, California real estate - NUMBER1EXPERT™ Tim Fahey NUMBER1EXPERT(tm) for Penn Valley and Grass Valley, California real estate

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Tim Fahey, REALTORŪ, real estate agent and broker for Penn Valley and Grass Valley California home listings, property and land for sale - NUMBER1EXPERT(tm)
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Culture: Penn Valley and Grass Valley California home buying, real estate listings, and homes for sale in Nevada                         County, CA
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TRAVEL - Lake Wildwood is a private gated community; it is located in Penn Valley, less than 2 hours away from Reno and Lake Tahoe, 3 hours to the San Francisco Bay Area, 20 minutes to Beale Air Force Base, and 1 hour north of Sacramento and Sacramento International Airport. Grass Valley and Nevada City are 10 to15 minutes to the east via state highway 20.



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Real Estate Tips
Tax Considerations >Tax Implications of Selling Your House

Most of my clients profit from selling their homes, and they often have questions about capital gains tax. When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010. Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption. Consult your tax accountant for more detailed information regarding your particular circumstance.

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Real Estate Trivia
Q 
Where can you find the world's largest residential palace?

A 
The Istana Nurul Iman, palace of the Sultan of Brunei, includes 2,152,782 square feet, 1,788 rooms, 257 bathrooms and a 110-car garage.
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Tim Fahey, REALTORŪ, real estate agent and broker for Penn Valley and Grass Valley California home listings, property and land for sale - NUMBER1EXPERT(tm)

Tim Fahey
Coldwell Banker Grass Roots Realty

11354 Pleasant Valley Road
Penn Valley, CA. 95946
Phone: 530-432-1131 ext. 425
Fax: 530-432-1276
Email: timfahey@NUMBER1EXPERT.com

Tim is a full-time Real Estate Professional who has expert market knowledge. With his solid reputation of working for his client's best interests, he has the ability to negotiate the best price and financing possible. Just call or email him!


Coldwell Banker Grass Roots Realty real estate and homes for sale in Penn Valley and Grass Valley California

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