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Tom Follert, REALTOR®, real estate agent and broker for Chicago Northwest Suburbs and Hoffman Estates Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)


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Real Estate Tips
Tax Considerations >Tax Breaks

      Most homeowners are keenly aware of the interest tax deduction on their home loan, but there are many other tax breaks which are often overlooked at income tax time. Pro-rated property taxes and mortgage interest in the year of sale are deductible. You will find these amounts listed on your closing settlement statement. If you paid off your mortgage and had to pay a pre-payment penalty, it qualifies as tax deductible interest. If you paid an "acquisition mortgage loan fee" on a home loan, this fee can be deducted as itemized interest. Home improvement loan fees are also deductible. Any remaining loan fees from re-financed or paid-off mortgages are fully deductible at the time of the mortgage payoff.
      Certain items don't qualify as deductions, but can be added to the cost basis of your home, such as transfer taxes, recording and title fees, and special local property tax assessments for new sidewalks, streets, or sewers.
      Don't be intimidated by the tax code! A little research or consultation with an expert can help you maximize your real estate tax advantages.
     

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Real Estate Trivia
Q 
Which estate has two pools--one on the east side for the morning sun and one on the west for afternoon enjoyment?

A 
The former estate of John Lennon in Palm Beach has two pools plus guest quarters.
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Tom Follert, REALTOR®, real estate agent and broker for Chicago Northwest Suburbs and Hoffman Estates Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Tom Follert
Executive Realty Group

140 W. Lake Street
Bloomingdale, IL 60108
Direct: 630-213-2111
Office: 630-336-3201

Professional Service, Cutting Edge Technology and Experience produce the results for Tom Follert’s clients and put him above the crowd in today’s ever changing Real Estate Market.

Over a 20 year veteran in Real Estate and ranked in the top 1% Nationwide of all Real Estate brokers, Tom Follert’s philosophy is simple:

There is no substitute for Hard work, Experience and Knowledge. Tom is an acredited Buyers and Sellers agent, A Graduate of the Real Estates Institue and has many more designations and credits, But he is aware that "All the Real Estate Designations & Titles in the "World" do not mean a thing if a Professional does not give you the "Service" you deserve. I will give all my Buyers and Sellers the cutting edges tools and do what is necessary in this ever changing market to make your Real Experience, "A Succesful one I WORK FOR YOU!! I will give you the attention you deserve along with the tools to be effective in Buying or Selling!! My Service is second to none. My customers receive discounted fees, full internet exposure and advertising every day in diversified publications to produce results in a timely manner.

If Experience, Service and Results matter to you, then don’t trust just anyone with your Real Estate Investment. Contact me to find out how I can make your Real Estate Investment a Successful one. My experience in the Northwest Suburbs is second to none. Let me put my experience to work for you!

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