Buyers Want Your Home for As Little As Possible. Quickly Find Out What It's Really Worth, by Email, for Free.  Are you thinking of selling your Livingston, Short Hills and Millburn home? You should know exactly what it's worth before making such an important decision. Let us do a quick "Comparative Market Analysis" for you, for free, and with no obligation. Also known as a CMA, this analysis compares your home to others that are currently on the market and to those that have recently sold. As top real estate agents, we determine the value of Livingston, Short Hills and Millburn, New Jersey area homes daily. Using the information you provide below, we can perform a quick market analysis, and give you a free estimate of what your home is worth in today's market. Remember, market conditions can be different, even one Livingston, Short Hills and Millburn neighborhood to the next. We know how to take all these factors into account when determining the true market value of your home. This service is completely free and without obligation. There are absolutely no strings attached. Why? We want the chance to show you our expertise as top Livingston, Short Hills and Millburn real estate agents. Please provide us with some basic information on your home. What's your home or property really worth? Accurately pricing Livingston, Short Hills and Millburn real estate is our job! Let us do a market analysis for YOUR property. There's no obligation, it's FREE, and we promise to get back to you quickly...
Tax Considerations >New 1031 Exchange Rules
One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.
A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.
Consult your tax advisor for more detailed information.
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The Jamie Silverman and Kim Panes Team
Weichert Realtors
505 Millburn Avenue
Short Hills NJ 07078
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Office Phone: 973- 376-4545
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Mobile Kim: 201-407-0721
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Email Kim: kimpanes@gmail.com
With many years of experience in residential real estate, Jamie and Kim are Top Producer Realtors with Weichert Realtors. They specialize in Essex, Union and Morris counties of NJ. Contact us with all your real estate needs.   
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