Originally posted by @Russell Brazil:@Lana Lee when you own your primary residence, and it goes up in value, you do not pay any taxes on it up to a gain of $250,000 for a single person and up to $500,000 for a married couple if you have lived in the property for 2 out of the last 5 years. 

@Russell Brazil, you think?  

Since 2012 or was it 2013 that things have been going nuts with appreciation I tell myself this year is the last.At first I thought it was cool.

this is not true for all neighborhoods-inspectors can drive you nuts and there is no uniformity at all in the process here in okc metro.  

Yeah - I know, that sounds nuts, and things could get rough financially for a while.In the long run, though, it will work out for the best.Stuff I've learned since my last lay-off...

That seems nuts to me.So I guess what I am asking is, when you refi and get your cash back out.

So I've been wanting to do real estate since I was 17 but at that age it was just thoughts I never actually acted on until age 24 I made a bit of money I had about 20k cash saved up but I was stupid with it and went on vacation to Florida and then while I was in Florida I wanted to see if I could buy a mobile home I could easily rent or flip but when I gave my bf the idea he went nuts and asked if I was here for vacation or for business.

If a buyer is represented, like in @Russell Brazil's post, you could easily get burned for much more than you'd save.

It drives me nuts when I cannot get a hold of someone.

@Russell Brazil makes a wonderful point about contacting the broker.