3.8% TAX ON REAL ESTATE -
WHO DOES IT AFFECT?
WHO DOES IT AFFECT?
The NATIONAL ASSOCIATION OF REALTORS recognizes there are quite a few misconceptions about the new upcoming tax that begins January 1, 2013. It is a complex tax that will affect some buyers and sellers, but not all. This tax was passed by Congress in 2010 and takes effect soon and will generate $210 billion to help fund President Obama's health care and Medicare overhaul plans.
To learn more about the 3.8% tax that will begin January 1, 2013
please click here.
3 Real Estate Myths
An article by Brendon DeSimone from Zillow published on March 31, 2013 hits the nail right on the head about real estate myths. Myth No. 1: Spring is the best time to sell a home; Myth No. 2: Always start with your lowest offer; and Myth No. 3: A cash offer trumps all.
Myth No. 1 - The reality is during the winter time before and during holidays there is less inventory and, therefore, Sellers have less competition. Buyers often take time off during the holidays and have more time to look.
Myth No. 2 - Brendon calls him Uncle Bob, but Buyers who rely on friends or relatives to give them real estate adivce often learn the hard way that we are NOT in a Buyer's market any longer. Starting way below asking price is the quickest way to lose out on the home of your dreams. Rely on a qualified agent like myself who understands our local market.
Myth No. 3 - Buyers falsely believe if they offer cash they can make a very low offer and the Seller will always choose it over any other. Sellers make decisions on a variety of terms, but the purchase price is very important.
To read Brendon's full article click here.
Mortgage Pre-Approvals
Forbes' author Mark Greene says Mortgage pre-approvals are pretend documents. Mr. Greene's article was published on Thursday, April 11, 2013. He goes through the mortgage end of buying from the 1980's through today and is quite accurate in his assessment.
It is worth the read so click here.
It is worth the read so click here.
