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 |  | | Fabulous House For Sale in Polo Fields, Louisville | |
Fabulous Home For Sale in East Louisville!
2502 Gainesway Court
Louisville, Ky
The Polo Fields This one is a gem! On 3/4 acre lot. Open floor plan on the first floor with hardwood floors and trey ceiling with columns in the Dining Room. The first floor master suite has trey ceilings, large master closet and plush spa bath. Master bedroom french doors open to a partially covered deck that runs the full length of the house. Two-story great room is open to superb kitchen with cherry cabinets, center island and built-in appliances. Upstairs there are 3 bedrooms and a large attached bonus space great for play room or sitting area. Lower walkout level has nice berber carpet and an area large enough for a second living room, a rec area for a pool table, and an exercise area, in addition to a craft room/office, guest room, and full bath. Beautiful landscaping surrounds the home.  
Real Estate Tips
Tax Considerations >Beneficial Tax Laws American tax law offers a significant capital gains tax exemption that allows taxpaying homeowners to unlock home equity and end the spiraling cycle of "investing up." First-time buyers enjoy expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, rules that allow penalty-free withdrawals to purchase a home.
Every two years, married sellers of principal residences who file joint federal income tax returns are allowed a $500,000 exclusion ($250,000 for singles) from capital gains tax. For sales that took place after May 6, 2003, the maximum capital gains tax rates for profits above the exclusion dropped from 20% to 15% for higher income taxpayers, and from 10% to 5% for lower income taxpayers.
Homeowners can now consider several new options. People who find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity have been able to unlock their equity dollars, using the income to help their children buy a first home, take a luxury cruise, remodel the house or purchase a second home for vacation or retirement.
Consult your tax advisor for advice regarding your particular circumstance.
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Real Estate Trivia
| Q |
What are the three most common environmental toxins for which homes are tested?
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| A |
Mold, asbestos, and lead are tested by specialized inspectors as a regular part of many real estate contracts. |
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