"We need more Joe's in this world"
“I first met with Joe Simone in 2004, after he sold one of our neighbors home. Joe gave me an appraisal and tips for my home. I was still debating whether to sell my home or not. Joe did not put any pressure on me to put the home on the market, especially when I told him about my personal situation. He just advised me, gave me all the facts and put my interest first; I really admired him for that. I finally decided to sell my home and listed the home with Joe Simone in May 2005. I was also under pressure from the court to sell the home from divorce proceedings. I knew I had chosen the right agent, as I had interviewed a few others, they did not pass the test. Joe truly showed as the genuine guy at this point, I had also heard nothing but good things about him from other friends in the real estate industry. I felt very confident, that I had given my home to the right person from the beginning. I also referred my immediate neighbors to him; they sold their home with him too. However, the market was changing, the housing boom was trickling down, we had no offers on our home and therefore, we reduced the price. Finally, we received two offers; we signed a contract with the second party. Our home was a beautiful new construction home, however, due to the divorce, it needed a little touch up, which I couldn’t afford; therefore, we sold the home “as is”. Joe’s experience, knowledge and intelligence came thru in selling my home, as not only did he have to deal with buyers, but also negotiate with my ex-husband. He also was able to get me a larger disbursement from the proceeds. He knows what to do and how to do it. He really is a people person and knows how to deal with all kinds of people, including me; it was a very emotional period for me. Unfortunately, the day of the closing of our home, my ex-husband and I had our last and final battle over the divorce settlement, prior to signing the papers of the home at the buyer’s lawyer office. It was a very intense moment. Two matrimonial lawyers, two real estate lawyers and two real estate agents were present. Plus the buyers, they were waiting for us while we fought. Well, we finally got to the table and were signing the papers, when the buyer noticed the wetland and easement restrictions on the property and got cold feet. They went into another room and talked and talked, they wanted to back out of the deal. This was a nightmare; Joe immediately saw my position and told the real estate lawyer I had signed another lease elsewhere. We all knew we had to walk away from this table with a sold home, otherwise more lawsuits, legal fees, lawyers and court, just when I thought I wrapped up my divorce. We were in a very challenging situation; it was 7PM at night. I was so bewildered and lost at this point, let alone tired from the moving and sleepless nights. My six year divorce proceeding was not going to end. Thanks to Joe’s quick thinking, ideas and help, we were able to negotiate a settlement with the buyer that was reasonable to us also. His quick thinking, knowledge and experience truly showed in our transaction, nobody else in the room had the talent. Finally, we all walked out with a smile on our face, I felt this huge refrigerator off my back. I gave Joe such a big hug. He truly is my Hero and today I have gained a great friend. Thank you Joe, no words can really express my appreciation. We need more Joe’s in this world.” Your friend Cilla
"C Patel"
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Tax Considerations >Taxable Profits
If you are thinking of selling your home and your house has risen in value since you purchased it, or you have accumulated a lot of deferred profit from previous sales, the Taxpayer Relief Act passed in 1997 could be of tremendous value.
Prior to this law, when a homeowner moved to a smaller home, relocated to a less costly area, or made a decision to rent, they were left with unfavorable tax consequences. The old tax law allowed people who sold their homes to defer tax on any profit by buying a replacement home of at least equal value within two years. At age 55, they could permanently escape tax on up to $125,000 of profit, but any profit in excess of that amount was taxable unless a new home was bought.
The good news is that with homes sold after May 6, 1997, homeowners can make as much as $500,000 tax-free profits on the sale of a principal residence for joint filers or $250,000 for single filers. The $500,000 capital gains exclusion removed taxes as a consideration for most home sellers by giving them flexibility to trade up or down. It has also allowed homeowners to preserve the savings value of a home when they sell, provided they use the property as their principal residence for two of the prior five years prior to the sale.
Consult your tax advisor for your particular circumstance.
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| Q |
What little-known folk remedy is said to help keep bats away from your home?
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| A |
According to some rural homeowners, if you tar and feather a two-by-four board and place it in your yard, it will ward off bats! |
 See More Real Estate Trivia > |
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