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MLS listings for Indianapolis Real Estate, Greenwood Real Estate, Center Grove Real Estate and all Johnson County, Indiana
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Quickly Find Out What that Home Down the Street Sold For, By Email, for Free. If you are considering selling your home, you are probably wondering what other homes in the area are selling for. There might be one home in particular that you'd like to know the sale price on, or you might be interested in all the homes that have sold recently in your neighborhood. We can help! We can tell you exactly what any home sold for in your area. We will furnish you with a list of homes that have recently sold on your street or in your neighborhood. We can also tell you about homes similar to yours that are currently for sale. This service is entirely free, without obligation. As top Indianapolis and surrounding area real estate agents, this is part of the service that we provide to home sellers on a daily basis. Find out what a home or property sold for, by email, for free! It's our job to help you determine real estate values in Indianapolis, Greenwood and Center Grove! There's no obligation, and we promise to get back to you quickly... 
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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| Q |
Whose mansion sold for about $2 million after just one day on the market?
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| A |
Soon after the death of George Burns his home was put on the market; the home sold in 24 hours.
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