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Sales Tax on Real Estate Sales? Say It Isn't So!

admin — Sun, 18 Jul 2010 01:54:59 +0000

There is a rumor being reported by the Washington Post that there will be a sales tax on real estate sales beginning in 2013.

Of course, those of us worth less than $200,000 don't have a thing to supposedly be worried about. Those of us over $200,000 do have something to worry about.

So what's happening?

The money will be going for the new ever so complicated health care system. And it isn't being called a sales tax, you see. It is really a Medicare tax, as if that will make any difference to the taxpayer.

I just love this quote:

"Of course, the Washington area has experienced dramatic appreciation in real estate (at least in recent years), so some homeowners may be hit with this new tax. But the large profit that has been made should offset the nominal tax that has to be paid."

Funny, how some people believe taxes can be offset. It's also funny how property taxes that we're paying in Davidson County, TN have not been off set. They're coming straight out of our profits.

Anyway, read Fact or fiction? The health-care law and real estate tax

Small Homes Gain Popularity

admin — Wed, 16 Jun 2010 11:43:21 +0000

Image via Wikipedia

Small homes are gaining in popularity according to the Ottawa Citizen.

New homebuyers are thinking smaller because of land costs and the fact that McMansions are losing luster.

Reasons: Wasted space =wasted costs. Economizing is in now and buying a huge home just to keep up with your neighbors is not as thrilling as it once was.

Small is the New Big

The Wall Street Journal is also picking up on this trend in Florida. Here's an interesting snippet of news as the Journal talks about the Florida real estate market making a comeback but with smaller homes.

Builders Return to Florida

More about smaller home building from The Net

Smaller Homes for Boston?

Tһе St. Petersburg Times reported tһаt a Tampa Bay Builders Association spokesman ѕаіԁ tһаt builders wіƖƖ still bе building super-sized homes bυt tһеrе wіƖƖ bе more οf tһе smaller ones being built аѕ well. …

Publish Date: 06/15/2010 22:09

http://greenerlivingonline.com/smaller-homes-for-boston.html

Builders hope that smaller sells: Local developers say the trend …

The company has such a good track record that the Home Builders Association of Lane County is hitching its annual showcase home fundraising effort to Piculell's gambit by building the showcase house on the lot between the developer's …

Publish Date: 06/08/2010 0:00

http://www.bigbuilderonline.com/industry-news.asp?referer=rss363§ionID=363&articleID=1303668

Home Buying and Home Selling Tips » Blog Archive » Interested in a …

Interested in a smaller home and price tag? Posted By varac on June 15, 2010. Are you interested in a home finished by a new building strategy? Some builders are taking advantage of lower lot prices to resume work in stalled housing …

Publish Date: 06/15/2010 23:57

http://www.buy-and-sell-house-fast.com/blog/interested-in-a-smaller-home-and-price-tag/

Sellers Changing Minds Leaving Realtors in Binds

admin — Thu, 10 Jun 2010 01:44:50 +0000

Image via Wikipedia

Sellers are changing their minds, leaving their realtors in binds all across the nation.

(Hey, that might make a good country music song.)

According to a New York Times article this is really getting to be a problem because of the uncertainty of the economy, not the uncertainty of the real estate markets.

A consumer behaviorist, Dr. Yarrow, is quoted. "People are making long-term commitments, and they limited vision into the future."

What I think that means is if people have too many choices as consumers, they'll develop that deer in the headlights paralysis and they'll end up doing nothing.

Like the New York couple who worked with a real estate agent getting their apartment in ship shape. They liked it so much after she staged it, they decided to stay.

That's also happening with some renters, I might add.

Read Sellers Indecisive

Buying A Home In Texas (slideshare.net)

Home Foreclosures: Are They Really Down?

admin — Tue, 25 May 2010 13:16:35 +0000

Image via Wikipedia

Are home foreclosures really down, or is the Realty Trac report exaggerated?

Realty Trac's report is saying foreclosure fillings went down 2% in April 2010 from April 2009.

Nevada is still the highest. This is their 40th month. Not surprisingly, Arizona and Florida are next highest for foreclosures.

There could be several reasons for this, is we can really believe this report. One reason for the possible decline is that lenders are being more responsible with loans. They're not lending to high risk borrowers like they were in 2006.

Read USA Today's Foreclosure Decline Report

Foreclosures down but millions will still lose homes (capitolhillblue.com)
Ebbing foreclosure filings hint at plateau (msnbc.msn.com)

California Foreclosures Made up 38 Percent of Home Resales

Sales of California foreclosures accounted for 38 percent of all home resales in April. A total of 37481 pre-owned housing units and new homes were sold in April, an increase of 0.5 percent from March total sales.

The Real Estate Wonk: Foreclosures and short sales in the …

Foreclosures were significantly more popular among buyers than short sales, which isn't surprising given the uncertainty about how long banks will take to respond to short-sale offers. (The "short" in "short sale" refers to selling for …

Rats At the White House?

admin — Fri, 21 May 2010 12:08:23 +0000

There are rats at the White House, or at least in the Rose Garden.

A rat ran in front of President Obama's podium yesterday during a press event. The President did not acknowledge the furry critter but the ever vigilant press members did.

So it seems the White House needs to get rid of these little rodents who somehow got past security.

That reminds me of my own situation at my house in flood drenched Davidson County a few days ago. We had bats.

My brother was calling from China when my 83-year old mom suddenly started screaming.

"What's wrong," Turney asked. "What's happening to Mother?"

"It's okay," I reassured him. After all, what could he do about it? He's in Beijing, of all places.

The bat was flying around Mother's bedroom and we quickly cornered it in the living room where it stayed all night. (We somehow figured out you have to keep the lights on with bats)

Next morning we called a critter pest removal expert. It took four phone calls to find one who would come. I'm sorry, but you don't need to be rerouted to Atlanta when you need someone now in Nashville.

He got rid of the bat that turned out to be a baby. Then he went up into our attic and removed the rest of them. Most importantly he guaranteed his work for a full year. Cost? Almost $400.

What's our advice for the White House?

Stop ignoring your pest problem. Get on with it.

Rat Upstages Obama Press Conference

Rodent Scurries Past Obama In Rose Garden: Was It A Vole? (PICTURE, VIDEO) (huffingtonpost.com)
Rodent scurries by as Obama lauds Wall Street vote (sfgate.com)
Rodent scurries by as Obama lauds Wall Street vote (seattletimes.nwsource.com)

How to Get Rid of Rats in Your Crawl Space | DoItYourself.com

Rats are a nuisance that can become a serious health hazard. No place in your home, especially a crawl space, is safe from them.

What is THAT in this picture? (The President does not need this …

Report. PERFECT!!!!!LOLOL OR DO I SAY PERFECTO NOW??? TWO CAUGHT AT THE SAME TIME. GEEZE THE WHITE HOUSE IS LOADED WITH RATS THAT ARE TRULY ""BOLD"". May 20, 2010 at 10:16 pm … "For the 1st time in my life, I'm proud of America". Report. so she said. Now, how about calling someone to get rid of the rodents before the next President in 2012 moves in! May 20, 2010 at 9:56 pm …

How To Catch A Mouse! Get Rid Of Those Pests Now! | Bit Rebels

Do you have problems with mice in your house? We don't have that problem in our house since we have natural mouse control – 19 cats! Having pests in your.

Reform Freddie Mac, Fannie Mae, Says National Assoication of Realtors

admin — Wed, 12 May 2010 20:58:32 +0000

Freddie Mac and Fannie Mae need reform but not too much dramatic change, according to the National Association of Realtors.

: Image via Wikipedia

The realtors are pushing passage of H.R. 2483 and H.R. 5072. These bills will still allow access to safe financing for borrowers who qualify and would make the current FHA loan limits permanent.

NAR is in direct opposition to Sen John McCain's amendment to shut down Fannie Mae and Freddie Mac.

So who's right? Isn't Fannie and Freddie the couple who caused a lot of this housing downturn or have they just been demonized for little reason?

What do you think?

Realtors Ask Washington for Fannie and Freddie Reform

Fannie Mae loses money, wants more assistance- any end in sight? (agentgenius.com)
Fannie Mae CEO Views Challenges as Housing Approaches a Bottom (businessweek.com)
Fannie Mae seeks additional $8.4 billion in aid (seattletimes.nwsource.com)
A Fannie Mae Political Reckoning (online.wsj.com)

Real Estate Entrepreneur Hal Wilson Dies

admin — Sat, 17 Apr 2010 13:36:57 +0000

Real estate entrepreneur Hal Wilson has died at age 66 after a heroic battle with cancer.

He was an educator for those interested in real estate investing, landlording and the buying and selling of properties.

Best known for his excellent courses such as Real Estate Sales and Marketing, Big Profits and Little Deals, and Discounted Mortgages.

Hal Wilson of the Wilson Group Rentals, also wrote The 12 Secrets of Real Estate Investing.

We hear a lot about fake gurus and they are a problem, but Hal was the real thing. He actually practiced real estate investing. He was also willing to work and to share his knowledge with others.

He has left us quite a bit of material and we can still study his books and courses. His work was fundamental, not the fly by night info commercial junk.

Obama's New Housing Plan Explained

admin — Sat, 27 Mar 2010 01:01:18 +0000

: Image via Wikipedia

Obama's new housing plan for foreclosure relief: Can it be explained?

We found a very good article from MSNBC that really gets down to the bare bones of what this new government program designed to save distressed homeowners is all about.

We know the program is supposed to help those in pre-foreclosure who have lost their jobs. Problem is it only can help them for a few months. Then they're back where they were before- facing foreclosure.

This really sums the mess up: “We have to do a real reality check,” said David Berenbaum, chief program officer at the NCRC. “Until we address the underlying problems with this paper — who holds it, how it was originated, how people are accountable and how we can correct this epidemic of foreclosures — our communities' tax base, as well as the economic climate of the nation, is at risk.”

I might add, "Amen".

Read Latest Housing Plan Likely To Help Just a Few by John W. Schoen

Here's the spin from the White House Blog, which I personally don't agree with, but I thought you might want to read it anyway.
9 million + | The White House

The housing plan President Obama unveiled today could directly help up to 9 million people — but indirectly, it will help all of us. "In the end, all of us are paying a price for this home mortgage crisis. …

But The Market Ticker has a much stronger criticism.Housing: Obama Still Has Not Grown Up – The Market Ticker

Housing: Obama Still Has Not Grown Up · The misdirection and outright BS simply refuses to stop: March 25 (Bloomberg) — The Obama administration plans to announce programs to help homeowners avoid foreclosure, including subsidies for …

Dubai: Where Are Its Real Estate Values Now?

admin — Wed, 24 Feb 2010 00:05:41 +0000

: Image via Wikipedia

Dubai's real estate has had a hard year. Has the real estate market in Dubai bottomed out?

Here are some very interesting reports coming in.
It's intriguing that the experts seem to disagree on what is really going on. However, that isn't surprising.

George Soros Dubai is the Biggest Real Estate Bubble in The World …

dubai won't rebound, not at all mary, it is about to bust now, and that is good, dubai based itself onto investments in real estates, and did't take care of a what i call a “intelligent market mixture” therefore they can't lean onto the …

TheBull.com.au

Dubai's battered real estate prices have nearly bottomed out and should start to recover, but probably not until at least next year, the head of one of the troubled emirate's most prominent property developers says. Prices in the Mideast sheikdom … Chief executive Markus Giebel told reporters on Monday that while he did not expect a dramatic recovery in Dubai's property market, prices were unlikely to fall significantly further. "Dubai has reached a bottom phase," …

Price spread tightening in Dubai Marina

Price spreads for Dubai Marina apartments are likely to tighten further this year, with the current average gap between the first and fourth quartiles at Dh400 per square foot, according to a real estate consultancy. … Though the proportion of apartments sold with a value of less than Dh1m dropped to as low as 25.7 per cent at the peak of the market, this segment now represents significantly more of the Dubai Marina market at close to 40 per cent," Hansra added. …

Dubai World

: Image via Wikipedia

Dubai was in full boom and its market was just out of the world and after this six year bloom Dubai's real estate market was declined. Dubai government took the action and they give some instruction to the company in order to control …

Florida Condos Getting Special Fannie Mae Deals

admin — Tue, 16 Feb 2010 03:32:13 +0000

: Image via Wikipedia

Certain Florida condos are now getting special deals from Fannie Mae. (Take note, Florida is the only state where Fannie Mae is doing this.)

Deal? Fannie is going easier on lending standards. Here we go again?Regional Spotlight: Fannie Mae Targets Hard-Hit Florida Condo …

RISMEDIA, January 21, 2010—(MCT)—In hopes of reviving one of the nation's hardest-hit condominium markets, the giant mortgage backer Fannie Mae is making it.

Fannie Mae Dives Back Into The Florida Housing Market

florida condo boat On Christmas eve, Fannie Mae (FNM) was officially given a blank check so that it could revive the country's housing market. So what's it doing with that blank check? Yesterday it released a list of condo projects in …

Florida Condo Loans – Back in 2010?! at The Orlando Condo Blog

As reported in the Orlando Sentinel mortgage backer Fannie Mae is finally making it easier for people to buy Florida condos that may not have met prior lending standards. Certain condo complexes have finally started to receive ”special …

: Image via Wikipedia

Freddie Mac to start buying back bad loans (sfgate.com)

Real Estate Windfall » news

Sales Tax on Real Estate Sales? Say It Isn't So!

Small Homes Gain Popularity

Sellers Changing Minds Leaving Realtors in Binds

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Home Foreclosures: Are They Really Down?

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Rats At the White House?

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Reform Freddie Mac, Fannie Mae, Says National Assoication of Realtors

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Real Estate Entrepreneur Hal Wilson Dies

Obama's New Housing Plan Explained

Dubai: Where Are Its Real Estate Values Now?

Florida Condos Getting Special Fannie Mae Deals

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