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All agents are NOT alike! Find out why I am a top real estate expert. Call me:toll free 888-833-3860 or cell 520-400-0957. e mail joe@joemachado.com

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First Time Home Buyers
Welcome > For Buyers > First Time Homebuyers ...

Buying Your First Home? Real Estate Agents Are Your Professional Guides. Make Sure You Choose a Top Expert. 

You might be a bit afraid or intimidated by the whole process of buying your first home. As a top Tucson, Vail, Sahuarita and Dove Mountain real estate expert, it's my job to guide you, from beginning to end. 

I will take the time to go through each and every step of the buying process. There are no dumb questions! 

Together, we will consider: 

- How much can you really afford? 

- How to qualify for a mortgage. 

- How much cash you should put down. 

- How to buy a home with little or nothing down. 

- What it takes to get approved for financing. What banks and other financial institutions are looking for. 

- How much your payments will be. 

- The tax advantages of buying. 

- Is renting or buying better for you? 

Tell me a bit about your situation below. I'll get right back to you. There is absolutely no charge, and I offer this to you with no strings attached. 

New to the home buying process? Tell me your concerns. Ask me questions. It's my job to help! There's no obligation, and I promise to get back to you quickly... 

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Real Estate Tips
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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Real Estate Trivia
Q 
What was the longest distance a building has ever been moved?

A 
Detroit's five-story Gem Theater, built in 1927, was moved 1,850 feet (5 blocks) to make way for two new sports stadiums.
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Joe Machado, REALTOR®, real estate agent and broker for Tucson, Vail, Sahuarita and Dove Mountain Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)

Joe Machado
Realty Executives

6872 E. Sunrise Dr. #150
Tucson, AZ 85750
Cell: 520-400-0957
Toll Free: 888-833-3860
Joe@JoeMachado.com


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