Real estate tip: Praise the pro-homeowner government

The Taxpayer Relief Act of 1997 allows homeowners to keep much more of their profits when they eventually sell. Other key components allow a first-time buyer to use Individual Retirement Account funds to pay for a home. The act also reduced the taxes levied on the sale of stock and other investments, created tax-advantaged savings programs to pay for college expenses, and provided more options for retirement savings.