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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 503-329-0700.
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I add my newest homes and other real estate listings to this web site first. It can be some time before they appear in the MLS.
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Real Estate Resources:
Special Offers - Special offers for Portland, Gresham and Sandy homeowners from BIL Willis. Affiliates - BIL Willis' real estate web site affiliates. Mortgage Calculator - Quickly calculate how much your monthly and total payments will be with this calculator provided by Homes.com. Top National Real Estate Web Sites - Real Estate Web Sites that include some unique sources of realty information, listings, and more. Ask Anything - Ask BIL Willis anything real estate. NUMBER1EXPERTS - List of all the NUMBER1EXPERT real estate agents and realty professionals and brokers in the USA and Canada with links to their personal web sites with homes for sale. Real Estate Tips - BIL Willis' realty library of real estate tips and advice on everything from preparing your home for sale to negotiating with home buyers to escrow, closing costs, property inspections, and mortgage brokers. Real Estate Trivia - BIL Willis' collection of real estate trivia questions and answers that include real estate topics such as the most expensive home, largest swimming pool, and more. Real Estate Dictionary - Complete real estate dictionary and glossary of realty words you'll use when you list and sell your Portland, Gresham and Sandy property in Oregon, including legal terms definitions, and more. Go to Main Sitemap - Main sitemap sections include Find Portland, Gresham and Sandy Homes, For Home Buyers, For Home Sellers, Portland, Gresham and Sandy Information, Real Estate Resources, and About BIL Willis. 
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Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
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| Q |
What building has the largest windows in the world?
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| A |
The Palace of Industry and Technology in Paris, France has three matching windows, each 715 feet high and 164 feet wide and comprised of multiple panes of glass.
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