Maine Real Estate Information blog

DESCRIPTION

Brand new custom-built Cape in convenient quiet neighborhood! Great open concept floor plan, fully applianced kitchen, master suite, charming farmer’s porch, rear deck, lots of wood & tile floors!You’ll enjoy outstanding value as you move into this traditional New England style home with a modern open concept interior you must see to believe! Ivory-painted wood kitchen with granite tile countertop; island with solid maple, butcher-block counter top seats four. White oak hardwood and ceramic tile flooring on 1st floor, with carpet and ceramic tile upstairs. Master suite with two large closets and private bath. Exceptional living room with crown molding and plenty of windows, formal dining, sliders lead to 10′x 12′ rear deck.Brand new construction ready for immediate occupancy!

PROPERTY FEATURES

—————————————————————–Central heat - High/Vaulted ceiling - Hardwood floor Tile floor - Living room - Dining room Breakfast nook - Dishwasher - Refrigerator Stove/Oven - Granite countertop - Basement

Laundry area - inside Balcony, Deck, or Patio Yard

Seller contact info:

Meservier & Associates Keller Williams Realty Mid Maine http://www.meservier.com  mike@meservier.com 207-784-2525 For sale by agent/broker

New Gloucester Maine Real Estate Listing

Meservier & Associates | Keller Williams Realty Mid Maine | mike@meservier.com | 207-784-2525

High Quality Home with Income Producing Apartment print this page

5 Bdrm Multi-Family, 2 units offered at $450,000
Year Built 2004
Sq Footage 4,590
Bedrooms 5
Bathrooms 3 full, 2 partial
Floors 1
Parking 2 Car garage
Lot Size 4.02 acres
HOA/Maint $13 per month

DESCRIPTION
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One of a kind oversized ranch with a full finished daylight basement, private deck and patio, outdoor hot tub, knotty pine pool house with indoor wood heated non-chlorine pool. Fully applianced kitchens,granite counters, hardwood floors and 2 fireplaces!

PROPERTY FEATURES

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Central heat Fireplace Walk-in closet
Hardwood floor Tile floor Family room
Living room Bonus/Rec room Office/Den
Dining room Breakfast nook Dishwasher
Refrigerator Stove/Oven Microwave
Granite countertop Basement Washer
Dryer Laundry area - inside Balcony, Deck, or Patio
Yard Swimming pool Jacuzzi/Whirlpool

Seller contact info:
Meservier & Associates
Keller Williams Realty Mid Maine
mike@meservier.com
207-784-2525
For sale by agent/broker

This article came into focus through my email and the words that caught my eye were Vacation and Second Homes.  Maine is know as VactionLand and we have our share of out- of- state home owners. 1031 Exchanger’s please read on…

IRS Plans to Take Hard Look at 1031 Exchanges
The Internal Revenue Service is stepping up its oversight of 1031 like-kind exchanges after a report by the U.S. Department of Treasury Inspector General for Tax Administration pointed out that its use has doubled since 1998.

The IRS will be providing guidance on the issue of 1031 exchanges for second and vacation homes that aren’t used exclusively by the owner.

The report said some “may see this as an opportunity to invest in second and vacation homes at reasonable prices.” Given the lack of regulations, statutes and court cases in this area, taxpayers and promoters “may mistakenly take the position that any transaction not specifically prohibited by IRS guidance would be entitled” to like-kind exchange treatment, the report said. “Unscrupulous or uninformed promoters” already are taking advantage of the IRS’s “silence” on this subject. “For example, one promoter advised that taxpayers could sell their vacation homes using like-kind exchanges even though the homes were never rented.”

Bruce Friedland, an IRS spokesman, said the agency “urges taxpayers to keep documentation on hand to substantiate 1031 exchanges.” That documentation “is critical if the IRS has questions,” he said.

Source: The Wall Street Journal, Tom Herman (10/10/2007)