Listing Details: Harrison Township, St. Clair and Macomb, Michigan Real Estate Listings & Homes For Sale Provided by Holly Peters

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Sold - HUD Condo on Sugarbush

$26,000 Great Price!

Photo of 48518 Sugarbush Road, Chesterfield, MI, 48047.

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Address: 48518 Sugarbush Road	City/ST: Chesterfield, MI	Zip Code: 48047
Location: Chesterfield	Property Type: Single Family Home	New or Resale: Resale
Square Footage: 879	Bedrooms: 2	Bathrooms: 1
MLS# 30741068

HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks*. FHA Case #261-906487. Uninsured-203k eligible. Bids due by 10-11-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof. HOA fees are $104 per month. Replace handrail. Plumbing system is inoperable-inspect & repair.

Last Updated: 3/14/2010 10:58:31 AM

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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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Q	On what famous American street can you find the most expensive retail space for rent anywhere in the world?
A	Fifth Avenue, New York City, U.S.A. offers retail space for rent at the rate of $580 per square foot.
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Holly Peters, REALTOR�, real estate agent and broker for Harrison Township, St. Clair and Macomb, Michigan home listings, property and land for sale - NUMBER1EXPERT

Holly Peters
RE/MAX Advisors
34350 23 Mile Rd.
Chesterfield, MI 48047
Holly's Cell : 810-300-4015
Office: 586-725-1900
Fax: 586-725-0333
REOactionhomes@gmail.com
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