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Hot - Adorable First Time Homebuyers Dream!

$214,000 Priced to Sell!

Photo of 571 Prairie View Ln., Hinckley, IL, 60520.

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Address: 571 Prairie View Ln.	City/ST: Hinckley, IL	Zip Code: 60520
Location: 571 Prairie View Lane, Hinckley IL. 60520	Property Type: Single Family Home	New or Resale: Resale
Bedrooms: 3	Bathrooms: 3	MLS# 07435399

Adorable first time home buyers DREAM! This Lovingly maintained 3 bdrm, 3 full bath home features an oversized kitchen, first floor Den, first floor full bath, Family Room, Dining Room, Deck with large professional landscaped backyard, partly finished basement with warming Fireplace, Large bedrooms (note rm sizes), full brick front, 2 car garage w/utility door, Brick pavers driveway, W/I closets, large mstr bath w/his/her sinks and more!

Last Updated: 8/26/2010 8:49:35 AM

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Front
Family Room
Kitchen
Kitchen View Two
Dining Room
Den
Master Bedroom
Master Bath
Master Bath View Two
Bedroom Two
Bedroom Three
Upstairs Hall Bath
Basement
Foyer

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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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Q	Into what category do forty-four percent of home buying households fall?
A	Forty-four percent of home-buying households are made up of married couples with dependents.
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The Dickerson Team, REALTOR�, real estate agent and broker for Aurora, Sugar Grove, Yorkville and Naperville, Illinois home listings, property and land for sale - NUMBER1EXPERT

The Dickerson Team
RE/MAX of Naperville
1200 Iroquois Commons Drive
Naperville, IL 60563
Toll Free: 888 777-1165
Keith's Cell Phone: 708 341-2076
Fax: 630-735-5105
Email: Info@TheDickersonTeam.com
The Dickerson Team is ranked in the TOP 1% of ALL Northern Illinois Realtors and TOP 25 RE/MAX Teams in Illinois. If you're looking to buy or sell real estate, go with a Team with a record of success. Call The Dickerson Team TODAY at 888-777-1165!!

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