The new 3.8% Real Estate Sales Tax from the Patient Protection and Affordable Care Act

Will I be taxed 3.8% when I sell my home according to the new Health Care Law? Beginning January 1, 2013, a new 3.8 percent tax on some investment income will take effect. It’s a complicated tax, and will affect only some real estate transactions. Here are some quick facts about the new 3.8% Real Estate Sales Tax from the Patient Protection and Affordable Care Act Applies to:

• Individuals with adjusted gross income (AGI) above $200,000
• Couples filing a joint return with more than $250,000 AGI

Types of Income:

• Interest
• Dividends
• Rents (less expenses)
• Capital gains (less capital losses)

Formula: The new tax applies to the LESSER of

• Investment income amount
• Excess of AGI over the $200,000 (Individual) or $250,000 (Couples) amount

To get you up to speed about the new 3.8% Real Estate Sales Tax from the Patient Protection and Affordable Care Act, the NATIONAL ASSOCIATION OF REALTORS® has developed an informational brochure.

Call us today to obtain your copy of the NAR Brochure.

We’d Like To Help! We’d like to help you understand IF and HOW this new tax will apply to your specific situation. Let’s schedule a time to get together at our office or over coffee to discuss your specific circumstances. Should you sell your property before January 1, 2013? If your circumstances fall within the parameters of this new Tax Code, imposed upon us in the Health Care Reform Act, you may decide to try to sell your property before this new tax can go into affect on January 1, 2013.

Did you know? Last week, the subscribers to our Newsletter received this information (About the new 3.8% Real Estate Sales Tax from the Patient Protection and Affordable Care Act ) as well as other Market News.

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Contact Leslie Barber, Assistant to Randy & Christy Oetken, to subscribe, and to receive the August 2012 Newsletter, containing information about the new 3.8% Real Estate Sales Tax from the Patient Protection and Affordable Care Act Email:

Leslie@RealEstate-Browser.com

Real Estate Market News: Conclusions from CoreLogic’s August 2012 MarketPulse Report

Hello Friends! Have you been reading news on the Real Estate Market lately? Seems that a lot of the news indicates a v-e-r-y slow but positive turn-around for our industry. We like to keep informed with reports from Market Research groups like CoreLogic. We stay informed, so that we can better keep YOU informed. Well, here’s what appears to be more GOOD NEWS from CoreLogic’s August 2012 MarketPulse Report. You can download these reports from CoreLogic for yourself, but here is the “digest” version of the most recent issue of MarketPulse. We’re encouraged by what we see here, and so we’re passing it along to you. The following quotes and conclusions are not our own; they are pulled directly out of the August 9, 2012 CoreLogic Media Advisory. This quote, directly from the August 2012 MarketPulse Report sums up the great news that we want to pass along today:

“But there are three primary reasons to expect that today’s housing market really might be different this time – lower inventories, lower delinquencies and the low likelihood of foreclosures flooding the market – …” This and other conclusions from our August MARKETPULSE report include:

1. This fall, the housing market may avoid the slide that has occurred each of the last three years because of an improving balance between supply and demand, declining REO sale shares and a slowly declining foreclosure inventory.
2. A lower likelihood of foreclosures flooding the housing market is beneficial because the market is more likely to absorb the inventory without dramatic changes in price.
3. Many borrowers in both the boom and “rust-belt” markets lack the means to prevent serious delinquency due to their limited ability to refinance at a lower mortgage interest rate. Policies designed to offer options for borrowers to lower their interest rates further can help decrease the flow of future delinquencies.
4. The current share of non-distressed sales is at its highest level since August 2008, positively impacting home prices, and is a sign of real improvement in the housing market.

Do you have questions about this Real Estate Market News: Conclusions from CoreLogic’s August 2012 MarketPulse Report? If you have questions about the information in this report, or about how you may use it to grow your Real Estate Investment portfolio, we’d love to hear from you! Call us today! We’ll help you untangle the questions or concerns that you may have with this information.We have the knowledge, education and experience to help you achieve your Real Estate goals.

Call Randy and Christy today!

208-660-0506

Of course, as with any Real Estate Market News, this information may indicate that it’s a terrific time to Buy or Sell your Real Estate holdings. We can help with that! Call us to get obtain No-Obligation Comparative Market Analysis, to find out what your property is worth in Today’s Market. We want to help you Own The Lifestyle!

The Oetken Group

Randy, Christy & Mark Oetken, Realtors (R) Windermere Coeur d’Alene Realty 208-660-0506 Oetken@RealEstate-Browser.com