"Now we're in the home of our dreams!"
Dear Jason, We just wanted to take a minute to thank you for all your help in the selling of our home and helping us to find our new one. Your direction and counsel allowed us to sell our first home for more than we thought possible and you found us the home of our dreams! When we purchased our first home, we had such a bad experience with our first realtor that we were very tentative about going through it again. You've made this a comfortable and incredibly positive experience. Your professionalism and attention to detail really helped us to feel confident in the process. You're accessibility and commitment to us really was reassuring. We just can't thank you enough. We hope you've been getting calls, as we've been recommending you to friends, family, co-workers, strangers, everyone. We truly feel we couldn't have had a better Realtor and when we hear people talking about buying or selling their homes, we recommend you without reservation.
Tom and Heather McDonnell
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Tax Considerations >Not at ARMs Length
A sale of a house is just a sale, right? Not necessarily. If you are selling your house to your children or transferring title outside the open market, then the transaction may be characterized as "not at arm's length". Since such a transfer may have tax consequences, you should discuss it with a tax attorney or accountant before taking action.
The transfer of title to a son or daughter may cause the parents to lose favorable property tax treatment, require the payment of state gift taxes, or have other unexpected consequences. From a capital gains point of view, it may be more prudent for children to inherit property than to receive it as a gift. The disposition of any real estate should be considered within the entire framework of your tax and estate planning.
For answers to all your real estate questions, consult experienced professionals who are familiar with this area.
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| Q |
Which metropolitan area in America currently offers the most affordable market in which to buy new homes?
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| A |
The housing market in Youngstown, Warren and Boardman, Ohio is currently the most affordable metro area in the U.S. |
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