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The Gary Nelson Group are some of
The Top Selling Real Estate Experts™
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|  | | | Located in Historic Downtown Flagstaff | |
The Gary Nelson Group at Realty Executives of Flagstaff Let our team of experts help with the purchase or sale of your home! We are a team of an Associate Broker, an Accredited Buyers Agent, a Transaction Specialist and a Marketing Specialist. This extensive experience is an invaluable resource to buyers and home sellers.  | | | Tammara Prager, Buyer Specialist | |
After graduating from the University of Central Florida and pursuing a short career in Criminal Justice, Tammara and her husband headed West and fell in love with Flagstaff. She started as a real estate investor and after several years decided it would become her career to help others buy and sell real estate successfully. Joining the Gary Nelson Group allows her to focus on buyers and investors. She also is an expert in bank-owned properties and short sale opportunities. She is an Accredited Buyers Representative and is electronic transaction certified. Tammara, her husband Brian and daughter Alyssa are hiking enthusiasts and will gladly share any trail information with you.
 | | | Gary Nelson, ABR, CRS, GRI | |
A life-long resident of Flagstaff, Gary Nelson is an Associate Broker at Realty Executives of Flagstaff and has been in Real Estate since 1994. He has his CRS, GRI, E-Pro and ABR designations. He has served as President of the Northern Arizona Association of Realtors in 2001 and is presently a director with the Arizona Association of Realtors and the National Association of Realtors. Gary partnered with Anne Terrill in 1998 until her retirement in 2005. Gary and his wife Tammy have 2 daughters, Shanna and Katrina. Gary and his family enjoy travel, skiing, hiking, and exploring Northern Arizona.
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First Time Buyers >Your Principal Residence
The Federal Tax Code allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles can exclude $250,000). In order to qualify for this exemption, you must prove that that the home has been your principal residence for at least two out of the last five years. The establishment of the home as a principal residence depends on the facts of each homeowner's circumstance. Here are two cases to consider.
Homeowner A has lived at 25 Pine Drive for 12 years. Although he stays at his vacation cottage in another town for up to three months out of each year (sometimes more), 25 Pine Drive is his principal residence, where he lives most of the time. When he sells the home, Homeowner A (filing as a single individual) can keep up to $250,000 in tax-free profit.
Homeowner B buys 108 Maple Street, intending to live there. He rents it out while waiting to sell his current home, where he has lived for six years. His principal residence sells at the end of two years. Homeowner B moves into his new house, lives there for three months, and then decides to travel. After a six-month trip, he regrets buying 108 Maple Street and sells it. Even though he has owned the house on Maple Street for over two years, it won't qualify as "owner-occupied", because he only lived in it for a few months. Thus Homeowner B is not eligible to claim the tax exemption when he sells the house on Maple Street.
Consult your tax advisor for advice about your particular circumstance.
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| Q |
What has a tremendous impact on the U.S. economy, comprising between $10-$15 trillion of the nation's wealth?
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| A |
Real Estate--it goes through cycles, but still has a long-term record of strong investment return. |
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- NUMBER1EXPERTS™ 
