From the National Association of Realtors RealtorMag:
Reminder: 3.8% Tax Is Not a Transfer Tax on Real Estate
Daily Real Estate News
Wednesday, February 15, 2012
Tax time is nearing and once more rumors are circulating on the Internet and by e-mail that the health care reform law enacted two years ago includes a 3.8 percent transfer tax on real estate starting in 2013. That rumor is not true; NAR has material available to you to explain how that 3.8 percent tax works. It’s a tax on a very narrow band of investment income for high-wealth households (those who earn $250,000 in a joint return or $200,000 as an individual) that could come into play on the sale of a house if the sales gain is more than $500,000 for a married couple or $250,000 for an individual.
Even in the unlikely event the sales gain is more than that amount, the tax would only apply based on other considerations having to do with the household’s income and tax situation. The bottom line is that the tax, which was imposed to help shore up Medicare, will hit only some portion of investment income. Download a free brochure on how the tax works. Video and explanatory article.
Full Story & Brochure Explaining the Tax:
http://realtormag.realtor.org/daily-news/2012/02/15/reminder-38-tax-not-transfer-tax-real-estate
Source: National Association of REALTORS®
Thursday, February 16, 2012
Tuesday, February 14, 2012
Is your agent trained to serve your best interest in Short Sale and Foreclosure Sales?
Does your agent have the proper training in order to help you buyer or sell a short sale or foreclosure?
I DO! I have earned the NAR Short Sales and Foreclosure Certification AND the Certified Distressed Property Expert Certification.
Below is information about the NAR SFR Certification:
Tammy W Eakes Earns NAR Short Sales and Foreclosure Certification
Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales
Biloxi, MS, Tammy W Eakes with Keller Williams Realty has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.
According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.
“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”
The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS are required to take one core course and three Webinars. For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.
If you or someone you know needs help buying or selling real estate PLEASE use an agent that knows the value of education and is certified to help you! Call me today! 228-223-0665.
I DO! I have earned the NAR Short Sales and Foreclosure Certification AND the Certified Distressed Property Expert Certification.
Below is information about the NAR SFR Certification:
Tammy W Eakes Earns NAR Short Sales and Foreclosure Certification
Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales
Biloxi, MS, Tammy W Eakes with Keller Williams Realty has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.
According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.
“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”
The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS are required to take one core course and three Webinars. For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.
If you or someone you know needs help buying or selling real estate PLEASE use an agent that knows the value of education and is certified to help you! Call me today! 228-223-0665.
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