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.
Tuesday, January 24, 2012
Unable to Make your Mortgage Payments or Upside Down on Your Mortgage? Step 1
If you are unable to make make your mortgage payments or if you are upside down on your mortgage there is still hope!
Step 1 is to enlist the help of a real estate agent who is certified to work with distressed properties. There are many options whether you want to stay in your home or sell it.
Obama's Making Home Affordable plan has helped millions of homeowners keep their home. From refinancing at lower interest rates to reducing the principle amount owed on your mortgage there is a plan for you.
Visit http://www.makinghomeaffordable.gov for specific programs that may help you. As your realtor I can guide you through each of these programs and help you determine which one is best suited for you.
If you have decided you are not able to keep your home I can help save you from foreclosure by finding a buyer for your home and asking the bank to reduce the amount you owe on your mortgage. Through negotiations with the bank you could possibly walk away from your home debt free. The best part - there is no out of pocket expense for your real estate fees.
Call me today for a free consultation - don't delay. Help is available!
Tammy W Eakes
228-223-6560
Certified Distressed Property Expert
Short Sales and Foreclosure Specialist
Step 1 is to enlist the help of a real estate agent who is certified to work with distressed properties. There are many options whether you want to stay in your home or sell it.
Obama's Making Home Affordable plan has helped millions of homeowners keep their home. From refinancing at lower interest rates to reducing the principle amount owed on your mortgage there is a plan for you.
Visit http://www.makinghomeaffordable.gov for specific programs that may help you. As your realtor I can guide you through each of these programs and help you determine which one is best suited for you.
If you have decided you are not able to keep your home I can help save you from foreclosure by finding a buyer for your home and asking the bank to reduce the amount you owe on your mortgage. Through negotiations with the bank you could possibly walk away from your home debt free. The best part - there is no out of pocket expense for your real estate fees.
Call me today for a free consultation - don't delay. Help is available!
Tammy W Eakes
228-223-6560
Certified Distressed Property Expert
Short Sales and Foreclosure Specialist
Monday, January 23, 2012
Upside down on your Mortgage and don't know who to ask for help?
I recently had the privilege to speak about Short Sales and Foreclosures to the 2012 MS Gulf Coast Leadership Class.
I spoke to them on the many options homeowners have for refinancing their homes or postponing their payments as part of the Obama plan.
I also spoke to them on what to do if the homeowner did not qualify for any of the options under the Obama plan.
The feedback from the class was that they NEVER would have thought to call a realtor for help with this sort of problem. Wow, was that eye opening!
I have decided to make it my goal to inform homeowners that YES, A REALTOR CAN HELP SAVE YOU FROM FORECLOSURE!!!
A realtor with the proper certifications and experience will know the options for a homeowner for their specific situation.
I have had many successful short sales and am SFR (Short Sale and Foreclosure) Certified and CDPE (Certified Distressed Property Expert) Certified.
I will be updating my blog with an on-going series regarding what homeowners can do when they face a distressed situation in life and have trouble paying thier mortgage.
In the mean time, if you or anyone you know is facing any of these issues PLEASE call me. I can HELP YOU!
Stay tuned...
I spoke to them on the many options homeowners have for refinancing their homes or postponing their payments as part of the Obama plan.
I also spoke to them on what to do if the homeowner did not qualify for any of the options under the Obama plan.
The feedback from the class was that they NEVER would have thought to call a realtor for help with this sort of problem. Wow, was that eye opening!
I have decided to make it my goal to inform homeowners that YES, A REALTOR CAN HELP SAVE YOU FROM FORECLOSURE!!!
A realtor with the proper certifications and experience will know the options for a homeowner for their specific situation.
I have had many successful short sales and am SFR (Short Sale and Foreclosure) Certified and CDPE (Certified Distressed Property Expert) Certified.
I will be updating my blog with an on-going series regarding what homeowners can do when they face a distressed situation in life and have trouble paying thier mortgage.
In the mean time, if you or anyone you know is facing any of these issues PLEASE call me. I can HELP YOU!
Stay tuned...
Monday, January 9, 2012
Unemployed? Bank MAY allow you to postpone payments!
Unemployed to Get More Mortgage Relief
Daily Real Estate News Monday, January 09, 2012
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Unemployed home owners who have mortgages backed by Fannie Mae or Freddie Mac may be eligible for up to a 12-month reprieve from paying their mortgage or paying reduced payments for that time period.
The mortgage giants’ program currently allows six months of relief to the unemployed. Freddie Mac announced that the changes will take effect Feb. 1. However, Freddie officials say extended one-year forbearance period will be temporary, and borrowers will still be responsible for eventually owing the payments they’ve missed.
Fannie Mae announced it also would be implementing a similar extension to its unemployed aid program.
"These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies," says Tracy Mooney, a Freddie Mac senior vice president. "We believe this will put more families back on track to successful long-term home ownership."
Source: “Fannie, Freddie to Give Unemployed Up to 12-Month Break on Mortgages,” Dow Jones Business News (Jan. 6, 2012)
Read More
The Ins and Outs of Obama's New Mortgage Refi Plan
Daily Real Estate News Monday, January 09, 2012
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Unemployed home owners who have mortgages backed by Fannie Mae or Freddie Mac may be eligible for up to a 12-month reprieve from paying their mortgage or paying reduced payments for that time period.
The mortgage giants’ program currently allows six months of relief to the unemployed. Freddie Mac announced that the changes will take effect Feb. 1. However, Freddie officials say extended one-year forbearance period will be temporary, and borrowers will still be responsible for eventually owing the payments they’ve missed.
Fannie Mae announced it also would be implementing a similar extension to its unemployed aid program.
"These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies," says Tracy Mooney, a Freddie Mac senior vice president. "We believe this will put more families back on track to successful long-term home ownership."
Source: “Fannie, Freddie to Give Unemployed Up to 12-Month Break on Mortgages,” Dow Jones Business News (Jan. 6, 2012)
Read More
The Ins and Outs of Obama's New Mortgage Refi Plan
Saturday, December 31, 2011
Pending Home Sales Rise Again!
Pending Home Sales Rise Again
Daily Real Estate News Thursday, December 29, 2011
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Pending home sales continued to gain in November and reached the highest level in 19 months, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 7.3 percent to 100.1 in November from an upwardly revised 93.3 in October and is 5.9 percent above November 2010 when it stood at 94.5. The October upward revision resulted in a 10.4 percent monthly gain.
The last time the index was higher was in April 2010 when it reached 111.5 as buyers rushed to beat the deadline for the home buyer tax credit. The data reflects contracts but not closings.
Lawrence Yun, NAR chief economist, said the gains may result partially from delayed transactions. “Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high,” he said. “Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage.
“November is doing reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead,” Yun added.
Pending home sales are not affected by the recently published rebenchmarking of existing-home sales because the index uses a different methodology based directly on contract signings, and is adjusted for seasonality.
The PHSI in the Northeast rose 8.1 percent to 77.1 in November but is 0.3 percent below November 2010. In the Midwest the index increased 3.3 percent to 91.6 in November and is 9.5 percent above a year ago. Pending home sales in the South rose 4.3 percent in November to an index of 103.8 and remain 8.7 percent above November 2010. In the West the index surged 14.9 percent to 121.2 in November and is 2.9 percent higher than a year ago.
Source: NAR
Daily Real Estate News Thursday, December 29, 2011
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Pending home sales continued to gain in November and reached the highest level in 19 months, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 7.3 percent to 100.1 in November from an upwardly revised 93.3 in October and is 5.9 percent above November 2010 when it stood at 94.5. The October upward revision resulted in a 10.4 percent monthly gain.
The last time the index was higher was in April 2010 when it reached 111.5 as buyers rushed to beat the deadline for the home buyer tax credit. The data reflects contracts but not closings.
Lawrence Yun, NAR chief economist, said the gains may result partially from delayed transactions. “Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high,” he said. “Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage.
“November is doing reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead,” Yun added.
Pending home sales are not affected by the recently published rebenchmarking of existing-home sales because the index uses a different methodology based directly on contract signings, and is adjusted for seasonality.
The PHSI in the Northeast rose 8.1 percent to 77.1 in November but is 0.3 percent below November 2010. In the Midwest the index increased 3.3 percent to 91.6 in November and is 9.5 percent above a year ago. Pending home sales in the South rose 4.3 percent in November to an index of 103.8 and remain 8.7 percent above November 2010. In the West the index surged 14.9 percent to 121.2 in November and is 2.9 percent higher than a year ago.
Source: NAR
Tuesday, June 21, 2011
Summer time...
Wow what a busy season! Kids are out of school and families are on the move! Summer is the most active real estate season.
If you have considered selling your home NOW is the time to get it in the market. Call me to schedule and appointment so I can show you how I can get your home sold for the most money in the least amount of time!
If you have considered buying a home please don't miss out on the amazing interest rates being offered these days! Really? A 30 year mortgage at or under 5%? I don't believe that we will see this again in our lifetimes!
Call me today! 228-223-6560
If you have considered selling your home NOW is the time to get it in the market. Call me to schedule and appointment so I can show you how I can get your home sold for the most money in the least amount of time!
If you have considered buying a home please don't miss out on the amazing interest rates being offered these days! Really? A 30 year mortgage at or under 5%? I don't believe that we will see this again in our lifetimes!
Call me today! 228-223-6560
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