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  • Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from Karl Volkman, a proven Appleton, Neenah, Menasha and Greenville, Wisconsin NUMBER1EXPERT™ Top Selling real estate agents.

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  • Appleton, Neenah, Menasha and Greenville Information - Find local information on Appleton, Neenah, Menasha and Greenville, Wisconsin including schools reports, local maps and links, things to do, area photos, and relocation information. Local information provided by Karl Volkman, a proven NUMBER1EXPERT™ Top Selling real estate agents.

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Real Estate Tips
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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Real Estate Trivia
Q 
What is the least affordable metropolitan housing market in the United States?

A 
California's Los Angeles-Long Beach-Glendale is currently rated as the most expensive metro area in the nation.
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Karl Volkman, REALTOR®, real estate agents and broker for Appleton, Neenah, Menasha and Greenville Wisconsin home listings, property and land for sale - NUMBER1EXPERT(tm)

Karl Volkman
Coldwell Banker The Real Estate Group

1050 North Lynndale Drive
Appleton, WI 54914
Tel: 920-993-7311
Fax: 920-968-1167
Email: karl@karlvolkman.com

Get to know Karl and you'll soon discover a common thread in all he does. Whether it's in his successful career or his time spent with loved ones, Karl always gives 100 percent of his dedication and enthusiasm. For him, it's simple: when you give your best to what you do, you get more back than you could ever imagine. As the #1 Coldwell Banker Agent in the state of Wisconsin for the 6th consecutive year and #1 Agent for Coldwell Banker-The Real Estate Group for the 6th consecutive year, Karl's 3 decades in the industry, in-depth market knowledge and attention to detail enable him to make your move an enjoyable and successful one. Karl understands what an important time this is in your life. So, when you work with Karl, you can count on his full energy and attention to help you realize your dreams.

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