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Top 10 Things You Should Know About The 3.8% Tax

 
 All kinds of rumors have been swirling about what exactly is the 3.8% tax and how it will affect homeowners. Although referred to as a real estate tax, in reality, it is a tax on “unearned” investment income for high earning taxpayers (individuals who have an Adjusted Gross Income (AGI) over $200,000 and couples filing a joint return with an AGI over $250,000 ($125,000 when filing separately)). See below for the real skinny from the National Association of Realtors:

1.) When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will NOT be subject to this tax.

Click here for the other 9 points...

December Housing Update

Happy Holidays!  December is here and we are starting to see Christmas lights popping up all over the neighborhood  Our neighborhood looks so festive and alive at this time of year--it is a great time to "put on your holiday best" and show off your house to it's best advantage.  People love to drive around and look at all the decorations. The inventory of homes for sale in Rodgers Forge is staying pretty steady, but still lower than normal.  There are more homes under contract than there are for sale as we look at the numbers today.  Interest rates are still unbelievable at under 3% with some programs. I am expecting an early Spring market with a lot of activity in our neighborhood come January. Call me with any real estate questions or send me a comment.

The good news--Almost all homes in RF are selling in well under 30 days!! We are a hot market. People want to live here. Take a look below.
 10 Homes Currently For Sale:

2-3bdrms, 2 bath: $269.9K-$314.5K
5-3bdrm, 1 bath: $200K-$289K
1-4bdrms, 1 bath: $319.9K
2-4bdrms, 2 bath: $269.9K-$324.9
0 Rodgers Choice Currently For Sale
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
11 Homes Under Contract
3-3bdrms, 2 bath: $279.9K-$320K
5 -3bdrms, 1 bath: $200K-$285K
1 -4bdrms, 3 bath (detached) $379.9K
2 -4bdrms, 2 bath: $289K- $339K
2 Homes Have Been Sold Since November 1

2 - 3bdrms, 1 bath: $237K (both needed work)


Of the 11 homes under contract 9 were sold in under 30 days ; 5 in under 10 days!

Thinking of Selling in the Spring Market?

Check out the top 15 home Updates that Pay Off!

#1 Minor Bathroom Remodel
Average return at resale: 102 percent

• It costs about $10,500 to replace the tub, tile surround, floor, toilet, sink, vanity and fixtures. You'll get back an average of $10,700 at resale, a recoup rate of 102 percent.
• If you can pipe a child's name on a birthday cake, you can re-caulk a tub. Use a softener like CAULK-BE-GONE to get rid of the old caulk. Fill the tub with water after you're done to stretch caulk while it dries.
• If your old tub is too large to fit out the door, re-glaze it for a like-new finish. Cost: $300 to $400.
• Remove dated wall coverings and apply a fresh coat of paint. For damaged walls, spray on texture provides quick coverage.
• Old shower doors can ruin any bathroom. Removing or replacing them will add the illusion of space.

Check out this link below for some very, very good information.

http://www.frontdoor.com/sell/top-15-home-updates-that-pay-off/33/p1

Fiscal Cliff Negotiations could include Homeowner Tax Breaks?

 Now that President Barack Obama has won re-election, there are several housing-related challenges staring the federal government square in the face. These are some of the decisions that will have to be made in the coming weeks: check out this link to read about the mortgage interest deduction being "revamped."
http://www.inman.com/news/2012/11/7/right-away-housing-challenges-obama

The Morning After Sandy: Rodgers Forge Roads are Passable with Scattered Tree Debris

As of 9am Tuesday morning....See damaged car on the right. (Stanmore Road)

October Housing Update

Fall has arrived; a new school year is under way; the Rodgers Forge housing market is better than ever!  Only 3 homes currently for sale--the same scenario as one month ago.  Now, that is amazing...  There is virtually no inventory and there are plenty of buyers.  Just the right mix for good prices and quick sales. Good news for home owners! Interest rates remain at all-time lows --3.5% or lower. Rentals are still filling quickly. Enjoy the change of seasons.  Call me with any real estate questions or send me a comment.
 
 3 Homes Currently For Sale:

1-3bdrms, 2 bath: $299.9K
1-3bdrm, 1 bath: $243.5K
1-4bdrms, 2 bath: $279.9K
0 Rodgers Choice Currently For Sale
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
8 Homes Under Contract
1-3bdrms, 2 bath: $289.9K
5 -3bdrms, 1 bath: $200K-$289.9K
1 -4bdrms, 1 bath: $325K
1 -4bdrms, 2 bath: $339.9K
6 Homes Have Been Sold Since September 1
3- 3bdrms, 2 bath: $265K-$325K
2 - 3bdrms, 1 bath: $220K-$272.3K
1 Home in Rodgers Choice Has Sold Since June 1
1 - 3bdrms, 2 bath, 2 half: $390K

Of the 9 homes under contract 5 were sold in 30 days or less.