Listing Details: Cooper City, Davie and Bradenton, Florida Real Estate Listings & Homes For Sale Provided by Mike and Charisse Maloney

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Phone: 954-448-9635
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Reduced - 6/4/3 SS/AP Biltmore Grove, Cooper City

$499,900 Short Sale Approved

Photo of 5440 Sw 104th Terrace, Cooper City, FL, 33328.

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City/ST: Cooper City, FL	Zip Code: 33328	Location: Cooper City
Property Type: Approved Short Sale	New or Resale: Resale	Square Footage: 4213
Bedrooms: 6	Bathrooms: 4	MLS# H862703
Property Tax: 11071

WOW!6 BEDROOMS, 4 FULL BATHS, 3 CAR GARAGE CHECK OUT THIS HOUSE, SELLER'S LOSS IS YOUR GAIN. SHORT SALE CONTINGENT ON BANK APPROVAL. TOTALLY IMMACULATE HOME IN MOVE IN CONDITION. SPACIOUS WIDE OPEN FLOOR PLAN WITH VOLUME CEILINGS, TILED LIVING AREA, LOFT, 23 STORY HOME WITH BREAKFAST BAR, EAT IN KITCHEN, LIVING/DINING. A RATED cOOPER cITY sCHOOLS.

Last Updated: 8/4/2009 10:36:21 PM

Listing Agent and Office: Michael Caruana, Caldwell Banker Caruana

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First Time Buyers >Your Principal Residence

The Federal Tax Code allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles can exclude $250,000). In order to qualify for this exemption, you must prove that that the home has been your principal residence for at least two out of the last five years. The establishment of the home as a principal residence depends on the facts of each homeowner's circumstance. Here are two cases to consider.

Homeowner A has lived at 25 Pine Drive for 12 years. Although he stays at his vacation cottage in another town for up to three months out of each year (sometimes more), 25 Pine Drive is his principal residence, where he lives most of the time. When he sells the home, Homeowner A (filing as a single individual) can keep up to $250,000 in tax-free profit.

Homeowner B buys 108 Maple Street, intending to live there. He rents it out while waiting to sell his current home, where he has lived for six years. His principal residence sells at the end of two years. Homeowner B moves into his new house, lives there for three months, and then decides to travel. After a six-month trip, he regrets buying 108 Maple Street and sells it. Even though he has owned the house on Maple Street for over two years, it won't qualify as "owner-occupied", because he only lived in it for a few months. Thus Homeowner B is not eligible to claim the tax exemption when he sells the house on Maple Street.

Consult your tax advisor for advice about your particular circumstance.

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Q	Exactly how many islands are included in the group called the 1000 Islands?
A	There are actually 1,864 islands in the 80-mile stretch in the St. Lawrence River, between Ontario, Canada and New York State.
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Mike and Charisse Maloney, REALTOR�, real estate agent and broker for Cooper City, Davie and Bradenton, Florida home listings, property and land for sale - NUMBER1EXPERT

Mike and Charisse Maloney
Keller Williams Properties
1625 N. Commerce 3Pkwy. Suite 105
Weston
FL, 33326
Cell: 954-448-9635
Fax: 954-827-2288
Email: mikemaloney12@verizon.net

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