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  • Special Offers - Special offers for Seattle, Redmond and Bellevue homeowners from Eileen's Team.

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  • Monthly Payments & Schedule - Monthly loan payments java mortgage calculator.

  • How Much Can You Afford? - Calculate how much home you can afford with this financial calculator.

  • Determine Tax Savings - Calculate how much your monthly Seattle, Redmond and Bellevue Washington mortgage payments save you on your taxes because of loan interest.

  • Should You Rent or Buy? - Is it better to rent a home in Washington or buy your own Seattle, Redmond and Bellevue house, ranch, luxury property, condominium, acreage, or other real estate?

  • Adjustable Rate Mortgages - Adjustable rate Seattle, Redmond and Bellevue mortgages information and interest rate java calculator.

  • What Is Your APR? - Determine the Annual Percentage Rate (APR) for your mortgage.

  • Fixed or Adjustable Rate Mortgage? - Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.

  • Are Balloon Mortgages For You? - Balloon mortgage calculator. A balloon mortgage can be an excellent option for many home buyers.

  • 15 vs. 30 Yr Mortgages - With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms.

  • How Much Should Your Income Be? - What income is required to qualify for a mortgage? Use this calculator to find out.

  • What's Your Maximum Mortgage? - This calculator will help you determine your maximum monthly housing payment and the resulting mortgage amount.

  • Will Buying Points Save You Money? - This calculator helps you determine if you should pay for points, or use the money to increase your down payment.

  • TripleCalc - FREE Software Download: TripleCalc lets you compare three loans at one time for your property or other Washington real estate.

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Real Estate Tips
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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Real Estate Trivia
Q 
Which nation, fueled by an oil and manufacturing boom, claims the world's longest building?

A 
The "Linear City" of Malasia is currently the longest.
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Eileen's Team, REALTOR®, real estate agents and broker for Seattle, Redmond and Bellevue Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

Eileen's Team
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222 Wall Street Ste 110
Seattle, WA 98121
Cel: (425) 444-8338
Tel: (206) 441-1851
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Email: theeileentefftteam@NUMBER1EXPERT.com

Eileen and her husband Randy have 5 children and are anxiously waiting for grandchildren. Eileen has been a licensed real estate agent for over 27 years, handling both commercial and residential. During this time she also owned 3 very successful restaurants, a boat yard and a marina. She lives in Issaquah and is passionate about homes and real estate. In fact, she is so passionate that she and her son Jon own a development and construction company, as well as a real estate company. Eileen knew early on, that in order to be successful, she would not only need to continue with the quality of service her clients had come to expect but would need to stay abreast of new technologies and developments in the world of computers. Her office is equipped with the most current hardware and software to better service her clients.

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