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439 Orchard Falls Dr, Spring Lake

$257,900

Photo of 439 Orchard Falls Drive, Spring Lake, NC, 28390.

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Address: 439 Orchard Falls Drive	City/ST: Spring Lake, NC	Zip Code: 28390
Property Type: Single Family Home	New or Resale: Resale	Square Footage: 1954
Bedrooms: 3	Bathrooms: 2	MLS# 341322

Large open 3 bedrooms, 2 bath ranch. Split floor plan. Large great room with fireplace. Hardwoods in foyer, kitchen, and nook. Jetted tub in master bath. Ceramic tile. Stainless steel appliances. Bonus room has closet that could be a 4th bedroom. Site Description:Deck(s), Fully Fenced Interior Features: Security System, Smoke Alarm(s), Ceiling Fan(s), Jetted Tub, Gas Logs, Cathedral/Vault Ceiling, Trey Ceiling(s) Separate Shower, and Granite Countertop. Appliances: Microwave, Range, Dishwasher, Disposal, Washer and Dryer Hookups

Last Updated: 2/12/2010 3:52:06 PM

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Real Estate Tips

Tax Considerations >Tax Rewards for Homeowners

The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.

Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.

The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.

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Real Estate Trivia

Q	What famous example of post-colonial architecture is modeled after the palace of the Duke of Leinster in Ireland?
A	The White House in Washington, D.C., begun in 1792 and burned by the British in 1814, was rebuilt in 1818 and restored in 1951.
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Team Elite Realty.net, REALTOR�, real estate agent and broker for Fayetteville, Hope Mills and Fort Bragg, North Carolina home listings, property and land for sale - NUMBER1EXPERT

Corinne Smith
Century 21 Family Realty
2653 Hope Mills Road
Fayetteville, NC 28306
Office: (910) 321-1002
Fax: (910) 424-6907
teameliterealty@NUMBER1EXPERT.com
Dreams, Memories, Family.... The role of a real estate agent is to guide you through the buying, selling or relocating process, taking the time to make sure you understand every step of the transaction. We are absolutely committed to fulfilling your needs with the highest level of professionalism, expertise and service. Our commitment to your satisfaction is the foundation from which a solid business relationship is built. One step closer to home....from our Team to your Family, making your dream come true.

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