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or other professional services. If legal services or other expert assistance is required, the services of a competent professional person should be sought.

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A Few More Words on Home Inspections

A few weeks back, I wrote a column about a seller complaining about a home inspection.

Ebby Halliday"s Relo Director/VP Petey Parker Pursues A Dream

After 28 years rising through the ranks from salesperson to trainer to head of the relocation division and right hand to Ebby Halliday Real Estate, Inc."s president Mary Frances Burleson, Petey Parker is leaving her real estate "family" to pursue a long-held dream - a career as a keynote speaker.

Tax Consequences Need Careful Consideration

Q: I purchased my first house in l950 for $45,000, and sold it in l990 for $500,000. My basis for tax purposes was $50,000. I took advantage of the once-in-a lifetime exclusion of $125,000, which was then in effect. I paid capital gains tax on $25,000 of profit and rolled over the balance by purchasing a condominium apartment for $300,000. The property is now appraised at $450,000 and I would like to sell it. Can you assist me in determining how much tax I will have to pay, if any. Both properties were my principal residence.

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