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Welcome to my site about Buying and/or Selling Residential Real Estate in the Metropolitan New Orleans area.
Whether you are a homebuyer, a buyer relocating to the New Orleans are or an owner planning to sell your property I can provide professional and experienced real estate advice and service. Serving the Parish of Orleans and the many communities within New Orleans it is my goal to empower you with information, helping you make educated decisions about a transaction that will likely impact heavily on your future both emotionally and financially.
"A model of how the Internet can facilitate the process of deciding where to send your children to school" - America's Best School Profiles by The Heritage Foundation
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
Miriam Bernstein, ABR, CRS, GRI, ePro RE/MAX N.O. Properties 8001 Maple Street New Orleans, LA 70115 Direct: 877-881-0626 Cell: 504-908-2268 Fax: 914-290-4647 Email: miriam@miriambernstein.com
I have been a full time REALTOR for the past 18 years. I have continued my education and have earned the Certified Residential Specialist (CRS), Accredited Buyer's Representative (ABR), Senior Real Estate Specialist, Certified New Home Specialist, e-Pro Internet Specialist and the Graduate, Realtor Institute designations. I am a marketing specialist with a substantial internet presence. I also work as a Buyer's Agent. Give a call, no pressure, I promise.
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