By Bruce Stuart
Contemporary family home on Randall Farm Road in NorthConway. Listed at $249,000.(end box)Finally, weve struck gold. This week's property is truly a family home; 3,500 square feet filled with amenities that meet the needs and wants of the entire clan. From a basketball hoop in the front yard, to a hot tub, a sauna, and even a soundproof room where Tiffany and her band friends can practice to their heart's delight.Here is a five-bedroom home with three and a half baths. Plenty of room for the family, friends and maybe a relative or two. One bedroom even has two sets of built-in bunk beds.Now, listen to the lineup. A large living room with a massive fireplace, A separate dining area. A whopper of an eat-in kitchen with all kinds of built-ins. A library with built in book shelves and a pretty garden views. A deck. And downstairs, a heated workshop.A paved driveway leads to an attached garage with easy access to the home itself. The oil/hot water heating system is zoned. All of this situated on a wooded one-acre lot in a quiet neighborhood not far from town.If you're looking for a real-life family home, this is the one. RE/MAX Presidential's Antonella Bliss has the listing. She'll be glad to show the home to the whole family. Bring your own basketball.
If you sold your main home, you may be able to exclude up to $250,000 of gain ($500,000 for married taxpayers filing jointly) from your federal tax return, according to the IRS. This exclusion is allowed each time that you sell your main home, but generally no more frequently than once every two years. To be eligible for this exclusion, your home must have been owned by you and used as your main home for a period of at least two years out of the five years prior to its sale. If you and your spouse file a joint return for the year of the sale, you can exclude the gain if either of you qualify for the exclusion. But both of you would have to meet the use test to claim the $500,000 maximum amount. If you do not meet the ownership and use tests, you may be allowed to exclude a portion of the gain realized on the sale of your home if you sold your home due to a change in health or place of employment. If you cannot exclude all the gain from the sale of your home, use Schedule D, Form 1040, to report it. For more details and information, get a copy of Publication 523, "Selling your Home," by calling 1-800-829-3676, or download it from the IRS web site at www.irs.gov.
By William Kugel
Photo: ShadyThe Shady Lane home has water rights for swimming, boating and other water sports. Photo: Silver SandsThe Silver Sands Drive home has an unobstructed view of the pond.Photo: SandsMore of a home than a cottage, The Sands Drive home sits on a nicely landscaped wooded double lot. (box) Three (yes three) properties located in Kimball Lake Shores just north of Fryeburg. Take your pick. (end box) When Elizabeth Roy at Prudential Joy Tarbell Realty approached me with three listings in the Kimball Lake Shores Development, her timing was perfect. After all, the weather had turned warm earlier this week and my thoughts had turned to fishing and boating and water sports. But what really put me onto her lake property was the price. All three are in the very early $100,000s. The four-season cottage on Shady Lane has an unobstructed view of the lake with rights to swim, fish and boat. The home has four bedrooms and one bath. Theres an eat-in kitchen and a porch, as well. Asking $110,000.The Silver Sands Drive cottage also has four bedrooms and one bath. It, too, has nothing between the site and the lake. The home boasts a woodstove and cathedral ceilings. There are water rights to the lake for water activities and sports. This ones priced at $114,900. The Sands Drive property is more of a home than a cottage. This house has three bedrooms and two baths. And while it doesnt have the view, it has the same water rights as the first two. In addition, the owner has just completed new hardwood floors on the first floor; a large walk-out basement is ready for a new owner to complete; and the home is on a double lot totaling .69 of an acre. Elizabeth says the owners asking $119,900 for this one. So, if close-to-the-water living is what youre after, all with water rights to indulge yourself fishing, swimming and boating, or just plain sitting on the associations sandy beach, here are three opportunities. Elizabeth grew up in the area; shell show you the ropes.