• Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from JJanna, Jerry, & Chad Burton, a proven Frisco, Plano and North Dallas, Texas NUMBER1EXPERT™ Top Selling real estate agent.

• Find Frisco, Plano and North Dallas Homes - Find Frisco, Plano and North Dallas, Texas real estate listings & homes for sale provided by JJanna, Jerry, & Chad Burton, your local expert real estate agent.

• For Home Buyers - Get home buying information, the latest listings, mortgage informaiton, expert advice, and much more from JJanna, Jerry, & Chad Burton, a proven Frisco, Plano and North Dallas, Texas NUMBER1EXPERT™ Top Selling real estate agent.

• For Home Sellers - Get home selling information, fsbo information, expert advice, find out what your home and other homes in your neighborhood are selling for, and much more from JJanna, Jerry, & Chad Burton, a proven Frisco, Plano and North Dallas, Texas NUMBER1EXPERT™ Top Selling real estate agent.

• Frisco, Plano and North Dallas Information - Find local information on Frisco, Plano and North Dallas, Texas including schools reports, local maps and links, things to do, area photos, and relocation information. Local information provided by JJanna, Jerry, & Chad Burton, a proven NUMBER1EXPERT™ Top Selling real estate agent.

• Real Estate Resources - Find real estate related resources including real estate news, tips, dictionary, trivia, mortgage calculators and information, local real estate related services, and much more from JJanna, Jerry, & Chad Burton, a proven Frisco, Plano and North Dallas, Texas NUMBER1EXPERT™ Top Selling real estate agent.

• About JJanna, Jerry, & Chad Burton - Information about JJanna, Jerry, & Chad Burton including testimonials, guarantees, credentials, and contact information. Learn why JJanna, Jerry, & Chad Burton is a proven Frisco, Plano and North Dallas, Texas NUMBER1EXPERT™ Top Selling real estate agent.

Please Sign Up For The Latest Listings and the Latest Real Estate News

*Your Name:
*Your Email Address:
Send Latest Listings:
Send Latest News:
Your Message or Comments:

* Please note that fields marked with an asterisk are required.

Quick Response Guarantee > We Guarantee Your Privacy > Free & Without Obligation >

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. See All Tips In The "Tax Considerations" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What does the abbreviation PITI stand for? A  Principal, Interest, Taxes and Insurance are the four major items included in a monthly mortgage payment. See More Real Estate Trivia >