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Welcome! The Robertson-O'Sullivan Team holds the key to your dream home in the Greenville and Pitt County area!  If you are searching for real estate in Greenville, Winterville, Ayden, Grimesland, or Farmville...Look no further! You can search all properties right here with one of the top real estate teams in the area! We want you to know why we are so passionate about this amazing county! Home of the East Carolina Pirates, Pitt Memorial Hospital, Pitt Community College, and much more, Greenville and Pitt County make up one of the fastest growing areas in North Carolina! Greenville's surrounding towns include Ayden, Bethel, Farmville, Falkland, Fountain, Grifton, Grimesland, Simpson, and Winterville. The rich cultural heritage, tradition and pride make this county a center for Eastern North Carolina. Agriculture, education, medicine, recreation, culture and arts are a few things that make this area so special and why it is such a desirable place to live! Need local real estate information? We've summarized much of what is important about the Greenville real estate market in this site. In fact, you can search the entire market from your home computer! Need expert advice? No website, large or small, can take the place of a top real estate agent. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. That's our job! Contact us with confidence! We guarantee your privacy will be respected. We offer the services on this site as well as one on one counsel for free and without obligation. Why? We want to be YOUR real estate agents. As your trusted, professional real estate partners, we will help you find the best home in the area within your price range. Together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As a top real estate team in Greenville and Pitt County, we have the experience and track record you are looking for. Please let us help! - Robertson-O'Sullivan Team 
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 is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?
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| A |
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million. |
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