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First Time Homebuyers: Turlock, Modesto and Merced County California home buying, real estate listings, and homes for sale in Stanislaus County, CA

Welcome > For Buyers > First Time Homebuyers ...

Buying Your First Home? Realtors Are Your Professional Guides. Make Sure You Choose a Top Expert.

You might be a bit afraid or intimidated by the whole process of buying your first home. As a top Turlock, Modesto and Merced County real estate expert, it's my job to guide you, from beginning to end.

I will take the time to go through each and every step of the buying process. There are no dumb questions!

Together, we will consider:

- How much can you really afford?

- How to qualify for a mortgage.

- How much cash you should put down.

- How to buy a home with little or nothing down.

- What it takes to get approved for financing. What banks and other financial institutions are looking for.

- How much your payments will be.

- The tax advantages of buying.

- Is renting or buying better for you?

Tell me a bit about your situation below. I'll get right back to you. There is absolutely no charge, and I offer this to you with no strings attached. Please fill out the form below...

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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	What real estate term was first used in the 19th century and means "a high-flying flag on a ship"?
A	Skyscraper was first used in the 1880s when office buildings of 10 stories or more were built in Chicago and New York.
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FEATURED PROPERTY

Life in the COUNTRY!
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Location: SNELLING - Merced County!
Price: $175,000 1 ACRE - REDUCED!
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Pamela Easton, REALTORŽ, real estate agent and broker for Turlock, Modesto and Merced County California home listings, property and land for sale - NUMBER1EXPERT(tm)

Pamela Easton, CRS, GRI, SRES, REALTOR
Century 21 M & M and Associates
1351 Geer Road - Suite 103
Turlock, California 95380
Direct: (209) 633-1845
Office in Residence: (209) 664-9742
Cell: (209) 605-4584
Fax: (209) 664-9812
Pamela.Easton@Century21.com
Pamela Easton, CRS, is the Number One Agent in Marketing and Technology in the Central Valley areas of Modesto and Turlock. She is a licensed REALTOR in the State of California. Pamela has a background in the Real Estate Industry that few agents can match. Being a third generation Real Estate Professional, with her own career starting in residential lending in the late 60's, Pamela is able to take the 30+ year background she has and combine it with the technology of today! That spells SUCCESS for her clients. She is a forerunner in the way Real Estate has integrated with technology in the Central Valley. Known for staying on top of the industry changes. She has continually demonstrated throughout her career by constantly updating and educating herself. She has earned the following designations: CRS (Certified Residential Specialist),GRI (Graduate Real Estate Institute), SRES (Seniors Real Estate Specialist--Senior Advantage Real Estate Council) and CRMO (Certified Residential Mortgage Originator - California Mortgage Bankers Association)--although not originating loans, this designation is a very strong benefit for Pamela's clients. A member of the Council of Residential Specialists, Association of Professional Mortgage Women, National Association of Realtors, Merced Association of Realtors. Proudly affiliated with Century 21 M & M and Associates, her mark of excellence has included CVAR Masters Club, Million Dollar Club, and the coveted 'Centurion Producer' awards - along with being the first of over 90,000 Century 21 agents NATIONWIDE to receive the 'Technology Award' presented for the very first time in 2003! March 2007, chosen ONE of THREE agents to exemplify the 'Gold Standard' for Century 21 agents nationwide.

Century 21 Real Estate Corporation and trademark and service mark of Century 21 Real Estate Corporation. Each office is independently owned and operated.

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