All articles tagged with #home sale
A couple's $100,000 profit from selling a home was largely spent on cars and debt, prompting Dave Ramsey to criticize their financial decisions and advise consulting a tax professional to understand their tax liabilities.
Barbara White, a 72-year-old former real estate agent, sold her Florida home for nearly $500,000, which doubled in value over seven years due to Florida's pandemic-driven population boom, and used the profit to downsize to a more manageable home in a 55+ community, enabling her to enjoy a more active lifestyle and travel more.
Grammy-winning artist Zedd is selling his Los Angeles home for $5.5 million, a modern estate featuring 4 bedrooms, 6 bathrooms, a recording studio, wine cellar, and luxurious amenities, as he spends more time touring internationally.
Liam Neeson sold his NYC Lincoln Square home for $10.3 million amid rumors of a budding romance with Pamela Anderson, who recently moved back to Canada after selling her Malibu house. The article also highlights Neeson's other properties and recent career highlights, as well as Anderson's personal life and recent moves.
Grammy-winning musician Paquito D’Rivera has sold his 4,100 square foot home in North Bergen for a record-setting price of $1,525,000, surpassing any other single family home sale in the town by $425,000.
A Palm Springs house sold for $1.3 million in April 2023 after zero days on the market, despite previously selling for $611,000 in 2021. The property, which had deteriorated since its previous sale, faced issues such as a green pool from algae and stolen pool equipment. The housing market in the area has seen an increase in such incidents, yet the property still managed to sell for a significantly higher price.
Actor Robert Pattinson has quietly sold his longtime Los Angeles home in the Hollywood Hills for $3 million in an all-cash deal. The buyer is an LLC linked to financier Frank Buckley. Pattinson recently confirmed he is expecting his first child with partner Suki Waterhouse and has acquired a larger house elsewhere in the hills. The single-story hacienda, built in the 1950s, features two bedrooms, two bathrooms, a spacious living room, a skylit kitchen, and a private yard with a grassy lawn, swimming pool, and canyon views.
When selling your primary home and making a $750,000 profit, you may owe capital gains taxes depending on various factors. The IRS taxes home sales as gains or losses on investments, with capital gains rates applying if you owned the property for one year or more. However, there is a capital gains exemption for primary residences that allows married couples to exclude up to $500,000 in profits from taxes, and individuals can exclude up to $250,000. Calculating your capital gains taxes involves considering factors such as marital status, total household income, duration of ownership, and adjusted cost basis. It is advisable to consult a financial advisor for assistance in managing your tax liability.
Former NFL star Kroy Biermann is urging his estranged wife, Kim Zolciak, to agree to the sale of their Georgia mansion for the sake of their four children. Biermann's attorney states that the family is facing significant debt and the imminent foreclosure of their home. Biermann wants to rectify their financial situation by selling the house and paying off their debts. He has requested Kim's cooperation in signing a joint consent agreement to expedite the sale, but if she refuses, he plans to seek permission from a judge. Biermann's focus is on protecting their children and moving forward, while he feels Kim is avoiding the reality of their financial troubles.
Kroy Biermann, estranged husband of Kim Zolciak, has filed documents requesting permission to sell their $3 million Georgia home due to their dire financial situation. He claims they have accumulated significant debt and struggled to make mortgage payments, even resorting to selling personal items. Despite Kim selling some of her belongings, Kroy alleges that the funds were not used to cover the mortgage or other bills. They are now facing the threat of foreclosure and are seeking an emergency hearing to sell the house as soon as possible.
Diane Sawyer is selling her Martha's Vineyard estate, known as the Chip Chop house, which she purchased with her late husband in 1995. The decision to sell comes as the rhythms of summer have changed for her family, with less free time for long visits to the island. The estate spans 20 acres and includes multiple properties, offering water views and two private stretches of beach. The beach compound was originally built for actress Katharine Cornell in the 1940s and has been a place for large gatherings over the years. The listing is being handled by Mark Jenkins of Wallace and Co. Sotheby's International Realty.
An Independence woman lost a deal to sell her home after the buyer backed out due to the Jackson County property valuation, which was significantly higher than expected. The county valued the property at $660,600, while the sale was agreed upon at $480,000. The buyer's agent cited the "outrageous valuation" as the reason for canceling the deal. The homeowner, Kim Clark, is now appealing the valuation and wants to join a class action lawsuit filed by other property owners who did not receive timely notice of their updated valuations. Clark is in a time-sensitive situation as she needs to sell the home to pay for her children's college expenses.
Actor Penn Badgley has listed his rustic four-bedroom retreat in West Shokan, upstate New York, for $1.7m. The 3,402 sq ft house sits on more than 10 acres of private land and features a timber-heavy aesthetic with wide-plank wood floors, posts and hand-hewn beams throughout. Other amenities include a fieldstone fireplace-equipped living room, four bathrooms, a central stairway, a butcher block island in the kitchen, and plans for an inground saline pool. The property is listed with Four Seasons Sotheby’s International Realty.