Reporting a Home Sale On Your Tax Return: What You Need To Know

Key Takeaways Not every homeowner has to report a sale on their tax return, but if you receive Form 1099-S or your gain exceeds IRS limits, reporting is required. The ownership and use tests determine whether you can exclude up to $250,000 ($500,000 for joint filers) in profit from your taxes. Speci

When Are You Considered a First-Time Homebuyer Again?

Buying a home is an exciting time, whether this is your first time purchasing a house or you’re a repeat buyer. But if you’ve owned a home before, you may be wondering if you can be a first-time home buyer again. In some cases, yes, you can.  In this Redfin article, we’ll go over what qualifications

A Beginner’s Guide to Understanding Housing Market Trends

Co-authored by Redfin and Mike Larson, Editor-in-Chief at MoneyShow If you’re just starting out in real estate, the housing market might feel like a puzzle with too many moving pieces. Prices rise, then fall. Homes seem plentiful one year and scarce the next. If interest rates climb before you’ve lo

The Top 9 Things That Might Fail a Home Inspection

“What can cause a house to fail an inspection?” is a question both buyers and sellers might have during a home sale. The truth is inspections don’t end in a simple pass or fail, but certain issues on the report can indicate trouble and lead to buyers walking away.  A clean inspection report—or a “pa