By Marissa Sainz, June 11, 2021
Working with repeat clients is always a joy!
I helped my clients buy their last home in 2016. They were approaching the five-year mark for capital gains exemption (more on this at the bottom if you’re interested), and decided it was the perfect time to sell. Check out their lovely Colonial-style home with all the modern features!
As you enter, the west-facing home is showered in sunlight. Your eyes are immediately drawn to the arches and cove ceilings in the family room. The main floor is bright and spacious, with an open concept kitchen, casual dining, and living room, allowing ample room for entertaining year-round. The kitchen features an eat-in breakfast bar and casual dining area. The dining area flows into the living room with a cozy gas fireplace and access to the private outdoor deck. In prep for selling the home, the owners updated the main floor with beautiful hardwood floors.
Upstairs, there are 3 bedrooms and a loft office space. The primary bedroom has 2 walk-in closets and an ensuite bathroom. The primary bathroom boasts a large rain shower, double vanity, and soaking tub. The backyard is fully fenced with a fire pit and a large deck.
Thank you once again, Michael and April for trusting in me through another home transaction! I can’t wait to wrap up this closing and get you both settled in a new home. Thank you for your trust!
Oregon Tax Exemption: Capital Gains
Capital gains tax exemptions on residential homes in Oregon have changed in the past few years. If you are considering selling your home, hold tight — you might be exempt from certain state and federal income taxes! If you have lived in your home for at least two of the past 5 years, you may be exempt from up to $250,000 ($500,000 for couples) of capital gains on the home sale. In short, your profit includes the original closing price of your home and any the value of improvements made while you owned the home, minus the sale price. After selling your home, any profits under $250,000 as a single owner or $500,000 as a couple will be exempt from capital gains taxes.
Consult with a tax professional or reach out with questions!
Listing Details:
Address: 1370 NW 88th Ave
Listing Price: $599,900
Bedrooms: 3
Bathrooms: 2.5
Sq. Ft: 2128
RMLS: #21226074
Marissa Sainz
Broker | Earth Advantage | OR
She/Her
Whether you want to live in a hip Pearl District condo or a unique east side bungalow I am here to help you find the perfect home. The Pearl District and the close in surrounding neighborhoods are exciting and evolving areas and where I focus my business...
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- T: 512-736-6111
- marissa@livingroomre.com
