Winter Homes - Vacation Homes - Second Homes - Capital Gains Tax Law CHANGES!

The snowbirds are coming!!  Located about 20 minutes from the Tucson International Airport, the active adult retirement community of Green Valley welcomes 15-20,000 winter visitors every winter.  Longer lines at the grocery store, restaurants and maybe a 2 light wait to get out of the Continental Shopping Plaza parking lot are all indicators that the annual migration south is beginning.

Approximately 35% of our population make Green Valley Arizona their seasonal (3-4month) home, enjoying mild sunny winters.  Green Valley offers recreational activities & facilities, numerous golf courses and many area attractions.  Others use Green Valley as a home base for travel and the rest make Green Valley their permanant home.

Often times today's permanent home started out as a vacation home.  Over a period of time; seasonal visits were extended and eventually the home "up north" is sold.  Years later the Green Valley home is sold and likely no capital gains taxes were paid.

January 1, 2009 the Capital Gains Tax scenario changes.  Buried deep in the July 2008 Housing Bill are significant changes in the way Capital Gains Taxes are calculated.  In fact these changes not only impact someone purchasing a seasonal home converting to primary residence - it also impacts the young couple purchasing their first home which they later convert to a rental property AND then move into it for a qualifing period to avoid what has been the Capital Gains Tax rules... a detailed explaination commentary can be found on http://www.GreenValley4Sale.com

YOU NEED TO KNOW ABOUT THESE CHANGES!  Don't Wait!  Buy in 2008!