Take Time

It is too quickly we jump back in the deep water of the rest of our year as summer days give way to fall. In the blink of an eye, we find ourselves back to full schedules, kids in school and racing to meet life’s high demands. Why is it that we only try to break the cycle when the sun is high, the weather hot and time too short? Let us make a resolution now, that fun should be an all-year-round proposition! Enjoy the moments, and the days and take the time and find the ways to bring laughter, adventure and togetherness into our lives. Life is meant to be celebrated! So throw your hands up, and enjoy the ride! As the summer fades, and the leaves will turn, I wish you and yours great blessings. Know that I am here for you as your neighborhood specialist, and I hope a friend as well. Take good care and have an amazing Aug.

S.E. (Sandra) Duncan BA, MBA
REALTOR®
Certified Condominium Specialist
CIR REALTY
168, 8060 Silver Springs Blvd. NW
Calgary AB
T3B 5K1
Ifax: 403-776-6064
Cell: 403-512-1939
Web Site: http://www.sandraduncan.ca/
Web Site:  www.cirrealty.ca

Understanding Capital Gains:

Understanding Capital Gains:

Capital Gains are calculated as the difference between what you paid for something (Stock or Real Estate for example) and what you sold it for.

How to Calculate Gain

(+) PURCHASE PRICE - Price paid for property
(+) COST OF PURCHASE - Transfer fees,
 attorney fees, inspections
(+) COST OF SALE - Repairs, commissions,
 attorney fees, inspections
(+) COST OF IMPROVEMENT - Room additions, deck,
 for example, though not replacing existing
(=) ADJUSTED COST BASIS OF YOUR HOME
(-) AMOUNT YOU SELL YOUR HOME
(=) CAPITAL GAIN

A Special Real Estate Exemption for Capital Gains

Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:
* You have lived in the home as your principal
 residence for two out of the last five years.
* You have not sold or exchanged another home
 during the two years preceding the sale.

NOTE:  As of 2003, you may also qualify for this exemption if you meet what the IRS calls "unforeseen circumstances" such as job loss, divorce, or family medical emergency.

Understanding Appraisal Value

For buying and selling purposes, appraisals are usually based on the market value - what the property could probably be sold for in the market today.  This value is not a constant number and changes with market conditions which can often alter the appraised value. Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer to a borrower.

Always consult your Tax Advisor or CPA/CMA/CA regarding current tax law.

SELLING YOUR HOME IN A CHANGING MARKET

In today’s rapidly changing economy, many homeowners wonder or worry about selling their home for the best price, and terms in the shortest period of time.
Here are 9 helpful hints if you are considering selling your home:
1. Be realistic, and price your home right by using market comparisons.
    Know your true bottom line for both price and time.
2. As the market shifts, be prepared to evaluate your price.
3. Advertising your property with yard signs, local MLS and newspapers.
4. Get rid of the clutter!  It makes your house appear smaller.
5. Clean your walls, floors, baseboards, stove and refrigerator.
    Buyers will know your house is well cared for.
6. Clean up outdoors! Remove tools, toys and be sure lawn
    and shrubs are neatly trimmed.
7. Have the carpets cleaned to eliminate odors, smoke, and pet smells.
8. Make minor repairs such as leaky faucets, sticky doors, etc.
9. Be sure to ask for a Merchandising Review before listing
    your property.
For Your Free Merchandising Review Call
Sandra Duncan, REALTOR®, CCS - 403-512-1939