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For Sellers

Tax Tips for Divorcing Homeowners

If you’re getting divorced, your home may be the biggest asset you’ll have to divide with your soon-to-be ex. As you decide whether to sell it and split the proceeds or let one spouse live there until the last kid launches, remember there’s often a third party involved in your home sale transaction: Uncle Sam.

Keeping, selling, or continuing to share your home can each create different federal tax tabs for you and your ex-spouse. Here’s a look at the tax consequences for six of the most common situations divorcing couples face.

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Given Fewer Choices, Homebuyers Sign Fewer Contracts in December 2014

Despite interest rates being at their lowest level of 2014, pending home sales cooled across the country in December.

The number of homes under contract fell 3.7% in December from November. However, year-over-year pending home sales were up 11.7%, data from the NATIONAL ASSOCIATION OF REALTORS® show. Read the rest of this entry »

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If You Were Selling Today, Would You Have the Home That Buyers Want?

Two new surveys about what homebuyers want have me feeling pretty smug about my own home choices. Maybe you’ll feel the same.

Privacy from neighbors remains at the top of the most-wanted list (important to 86% of buyers), according to the NATIONAL ASSOCIATION OF REALTORS’® “2013 Community Preference Survey.” Privacy is no doubt the best feature of my mid-century ranch home, since I can only see one neighbor’s house and it’s a couple hundred feet down my driveway. Read the rest of this entry »

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Home Prices Rose 5.8% in 2014

For 2014, the national median existing home price hit its highest level since 2007: $208,500. The median price also represents a 5.8% increase from 2013 ($197,100), data from the NATIONAL ASSOCIATION OF REALTORS® show.

Meanwhile, the number of home sales for the year declined 3.1%. But despite low levels of properties for sale in many markets, the number of single-family homes, townhomes, condominiums, and co-ops that sold in December 2014 rose 2.4% from November and were up 3.5% compared with December 2013. Read the rest of this entry »

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7 Tips for a Profitable Home Closing

When you’re ready to close on the sale of your home and move to your new home, you may be so close to the finish line that you coast, thinking there’s nothing left for you to do. Not so fast. It’s easy to waste a few dollars here and for mistakes to creep into your closing documents there, all adding up to a bundle of lost profit. Spot money-losing problems with these seven tips. Read the rest of this entry »

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6 Tips for Choosing the Best Offer for Your Home

You’ve worked hard to get your home ready for sale and to price it properly. With any luck, offers will come quickly. You’ll need to review each carefully to determine its strengths and drawbacks and pick one to accept. Here’s a plan for evaluating offers. Read the rest of this entry »

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These articles are not intended to give legal or tax advice, and you should consult your attorney or financial advisor for additional information.

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