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Welcome! Here You Can Find Great Information on Abilene, Texas Real Estate Abilene,Texas has several colleges including Hardin-Simmons University, Abilene Christian University, McMurry University, Cisco Junior College and the Texas Center for Excellence in Engineering Graduate Studies and Research. In addition to its collegiate campuses, Abilene is known for the Buffalo Gap Historic Village, Fort Phantom Hill, The Grace Cultural Center and the Children's Museum. Tourist generally like Abilene's Paramount Theateer, the Abilene Zoo, tours through Dyess Air Force Base and picnicking at Abilene State Park. Plays are provided by the Abilene Community Theater, Abilene Ballet Theater, Abilene Christian University Theater, Abilene Performing Arts Company, Amy Ryan Little Theater, and the Abilene Repertory Theater. Other recreational venues include the National Center for Children's Literature, Swenson House, the Buffalo Gap Historic Village, the Abilene Public Library, the 12th Armored Division Memorial Museum, the Elks Art Center , Grace Museum and the Center for Contemporary Arts. Hunters find Guitar Ranch, Fishers, your hot spot is Lake Fort Phantom, Golfers head to Abilene Country Club, DiamondBack Golf Club, Fairways Oaks Counrty Club or Maxwell Municipal Golf Course. Sports fans like the Abilene BlueSox Baseball Club, Abilene Dragstrip, Abilene Speedway, Abilene R/C Society, Abilene's Slowpitch Softball Association. Bradshaw Pistol Academy, John Baack's Strike Zone, Master Lim's Tae Kwon Do Centers and the Texas Timer Bat Company. The local news is provided by the Abilene Reporter News. Tourist enjoy the pleasurable atmosphere of Abilene's dining establishments, especially that of Casa Herrera, Outback Steak House, Olive Garden, Town Crier Steak House,Red Lobster, Tamolly's Mexican Food and Perini's Ranch Steakhouse. Among the RV parks are Abilene RV Park, KOA Kampground and Tye RV Park.
 Looking for homes? Search everything the web has to offer, right here! Don't miss my Feature Homes. Need local real estate information? I've summarized much of what is important about the Abilene real estate market in this site. Need expert advice? No web site, large or small, can take the place of a top REALTORŪ. Not even mine! This site is filled with ways that you can contact me for one-on-one expert help and advice. That's my job. Contact me with confidence! I guarantee your privacy will be respected. And I offer the services on this site for free and without obligation. Why? I want to be YOUR REALTORŪ. As your trusted, professional real estate partner, I will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As a top Abilene REALTORŪ, I have the experience and track record you are looking for. Please let me help. - Joy Jordan |
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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 private residence is considered the most expensive house ever built?
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| A |
The William Randolph Hearst Ranch in San Simeon, California cost over $30 million, equivalent today to $276,883,320. Bill Gates recently built a home for over $40 million.
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