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About Debra Zimmer and Sherry Zimmer:
About Debra Zimmer and Sherry Zimmer - Information about Debra Zimmer and Sherry Zimmer of Edgewater, Tenafly, Cresskill, Englewood and Fort Lee, New Jersey? Testimonials - Read what Debra Zimmer and Sherry Zimmer's clients are saying about the real estate marketing and services provided. Quick Response Guarantee - A quick response to your email request for more New Jersey home buying & property selling information is guaranteed by Debra Zimmer and Sherry Zimmer. Privacy Guarantee - This Edgewater, Tenafly, Cresskill, Englewood and Fort Lee real estate web site will respect your privacy, guaranteed by Debra Zimmer and Sherry Zimmer. No Obligation Guarantee - Debra Zimmer and Sherry Zimmer's real estate help by email is free & without obligation for Edgewater, Tenafly, Cresskill, Englewood and Fort Lee home owners in New Jersey. For Real Estate Agents - Let Debra Zimmer and Sherry Zimmer help you with your professional real estate broker and agent needs in the Edgewater, Tenafly, Cresskill, Englewood and Fort Lee area. About NUMBER1EXPERTS™ - NUMBER1EXPERTS™ are top real estate professionals, find out more. Contact Information - How to contact Debra Zimmer and Sherry Zimmer. Go to Main Sitemap - Main sitemap sections include Find Edgewater, Tenafly, Cresskill, Englewood and Fort Lee Homes, For Home Buyers, For Home Sellers, Edgewater, Tenafly, Cresskill, Englewood and Fort Lee Information, Real Estate Resources, and About Debra Zimmer and Sherry Zimmer. 
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Tax Considerations >New 1031 Exchange Rules
One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.
A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.
Consult your tax advisor for more detailed information.
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| Q |
Who is "Freddie Mac", and why is he a big name in real estate?
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| A |
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans. |
 See More Real Estate Trivia > |
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