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  Besides selling real estate, I'm a former soccer mom extraordinaire! I've lived in the New River Valley for 25 years and raised a family here. I have a son who graduated from Va Tech in December 2005, so I know all about student housing! Between real estate and soccer and editing English essays, I never found much time to cook, so I can tell you all of the best restaurants, bakeries, and coffe shops in town and also help you find the right pediatricians, lawyers, day-care providers, teachers and orthodontists for your family! I can make your move a real pleasure - whether you're a family, student, or young professional! If you're a VA Tech parent looking to purchase student housing, call me for expert advice on how to get into a townhouse with a low down payment plus closing cost. If you're moving your family here, count on me to find you the perfect home and get you acquainted with the community. I will return your calls quickly and I'm eager to search for homes that meet your criteria. Finding you the right home is important to me, even if it means taking the extra time and energy to do it!
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Tax Considerations >New 1031 Exchange Rules
One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.
A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.
Consult your tax advisor for more detailed information.
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| Q |
What famous Art Deco skyscraper is decorated with eagle hood ornaments, hubcaps and abstract images of cars?
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| A |
New York's Chrysler Building, designed by architect William Van Alen in 1930, was one of the first buildings composed of stainless steel over a large surface area.
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- NUMBER1EXPERT™ 
