Tax preparation season is upon us. Now is the time to create a ‘Taxes 2011 folder’ for the pieces which come in the mail and to collect the information you will need to fill out your return. Mortgage interest and property taxes are both deductible if you’re a homeowner.
If you’ve purchased or sold real estate, or refinanced this past year, pull out the HUD or RESPA form that was part of your closing documents and provide that to your tax preparer. Consult with a CPA or tax professional for more details on this and deductions for the new child in the family, education expenses and charitable donations. As with everything, supporting documentation is very helpful.
In other news, there were just three home sales this past week in Wicker Park and Bucktown. Bucktown. One was a detached single family residence, and two were attached condos, as follows:
1641 W Le Moyne #3, 3 bedroom, 2.1 bath, 1 parking space Condo-Duplex, Penthouse, $399,000
1304 N Wood #3, 3 bedroom, 2 bath, garage space, Condo Duplex, Penthouse, $445,000
Quick take – What’s on the market now?
Type, (number), Max, Average, Median, Min Price
Detached (64 properties), $4,400,000, $1,019,329, $762,500, $250,000
Attached (161 condos), $1,099,000, $378,416, $375,000, $79,000
2 -4 units (31 properties), $849,900, $498,925, $499,900, $179,900
*** Information sourced from MREDLLC; 1/15/12. Residential properties – Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)
Eva Bergant is a Bucktown resident and local Realtor with a community driven style. In addition to being president of the Bucktown Community Organization (BCO), Eva has long served as the chair of the Bucktown Garden Walk.
Do you have a real estate topic that you’d like explored in a future column? You can reach Eva by email, or 312-543-6819.