About Middletown, Delaware Area 
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Overview
Middletown, Delaware is located at the south end of New Castle County, about 10 minutes from Newark city limits. It is one of the fastest growing areas in the state, with families relocating from the more densely populated areas of New York, New Jersey and Philadelphia, seeking a better quality of life.
This is a family oriented town with a charming “old town” city center and a multi-generational feel. Our school district, Appoquinimink , is considered one of the best in the state, with an average student-to-teacher ratio of 19-to-1.
Middletown, with a population under 10,000, has a strong “get in on the ground floor” air about it these days. Until recently Middletown was largely a rural community, prized for being close enough to Hwy 95 and Route 1 to make commuting possible. Workers commute to Wilmington or Dover in under 30 minutes, and to Philadelphia in just over an hour. City planners are intent on drawing more commerce into the city, and telecommuting is increasing.
Home prices here are still highly affordable, especially compared with prices in the surrounding mid-Atlantic states. There is ample new construction of townhouses and single family homes as people migrate to the area. Right now home prices range from about $200,000 to $400,000.
Transportation
New Castle County is ideally located near all forms of transportation. Commuters meet up with the I-95 to get to Wilmington or Philadelphia. Philadelphia International Airport, the major hub of several different airlines, is about an hour away.
If you prefer public transportation, DART First State buses serve the entire state of Delaware. And the Newark Rail Station, served by Amtrak and Southeastern Pennsylvania Transportation Authority (SEPTA), serves Middletown residents as well.
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Tax Considerations >Tax Implications of Selling Your House Most of my clients profit from selling their homes, and they often have questions about capital gains tax.
When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010.
Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption.
Consult your tax accountant for more detailed information regarding your particular circumstance.
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What is considered the world's tallest building?
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The 185-story CN Tower in Toronto, Canada is the world's tallest free-standing building, rising to 1,815 feet. |
 See More Real Estate Trivia > |
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McGavisk Realty Team
Keller Williams - McGavisk Realty Team
56 W. Main Street, Suite 101
Newark, DE 19702
Phone: 302-838-7229
Fax: 302-838-7233
Email: michaelmcgavisk@NUMBER1EXPERT.com
Michael McGavisk knows that there is only one way to make their clients successful, and that is to do it as a team. Their team oriented approach says it all. Michael McGavisk has gone to great lengths to ensure that he equips his clients with a full service team that provides many years of real estate experience and knowledge. In addition, The McGavisk Realty Team also thrives on diversity. Don't be surprised if your team member that you are working with has a chemical engineer or paralegal background. Not to mention, as you begin working with The McGavisk Realty Team, you will find that they fully embrace and love challenges and are 100% determined to satisfy their client's needs.
Not a bad idea to consider working with The McGavisk Realty Team and become part of their team!
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