Mortgage rates remain low making the American Dream of Homeownership within reach!
~ 30 year fixed rate 3.38 %
~ 15 year fixed rate 2.66%
Have you been renting your home? With such low interest rates, NOW is the time to become a home OWNER. Contact a mortgage consultant to start the process. Then it’s time to call "Pine Island Pam" to begin shopping for your island home. Check out our Greater Pine Island communities of Bokeelia, Pineland, Pine Island Center, St James City and Matlacha. SW Florida, the “Creative Coast” is waiting to be discovered. Thinking of selling your home? Call “Pine Island Pam” for a free, in home market analysis.
Contact me at (239) 699-6567 or Pam@PineIslandPam.com. Visit my website at PineIslandPam.com.
Shadow inventory refers to the supply of homes in foreclosure or have delinquent mortgages, but are not yet on the market for sale. Read this article about Shadow Inventory for details about how it is impacting today's housing market.
Today’s real estate market is a challenge. Be smart ~ work with a local island girl who knows the business. “Pine Island Pam” delivers good old fashioned customer service along with up to date technology for today’s competitive market. Call (239) 699-6567 or e-mail Pam@PineIslandPam.com. Check out my website at PineIslandPam.com.
Mortgage rates remain low making the American Dream of Homeownership within reach!
~ 30 year fixed rate 3.34 %
~ 15 year fixed rate 2.64%
Contact a local mortgage consultant to calculate how much of a mortgage you can fit into your budget. Then ~ call "Pine Island Pam" to start the buying process. Isn't it time you start living the island lifestyle? Check out our Greater Pine Island communities of Bokeelia, Pineland, Pine Island Center, St James City and Matlacha. SW Florida, the “Creative Coast” is waiting to be discovered. Thinking of selling your home? Call “Pine Island Pam” for a free, in home market analysis.
Contact me at (239) 699-6567 or Pam@PineIslandPam.com. Visit my website at PineIslandPam.com.
The following is a Florida Realtors® news article outlining the real estate provisions in the 'fiscal cliff' bill. Read further for details about how you may be effected.
Special Report: Real estate provisions ?in 'fiscal cliff' bill
WASHINGTON - Jan. 2, 2013 - Yesterday, the House and Senate passed H.R. 8, legislation to avert the so-called "fiscal cliff." Following are real estate-related provisions of the bill, which President Obama plans to sign into law today:
• Mortgage Forgiveness Debt Relief Act extended to January 1, 2014. In place since 2007, the act provided a tax break for homeowners who struggled through financial hardship such as a foreclosure, and were granted mortgage debt forgiveness. In the past several months, National Association of Realtors (NAR) issued numerous calls to action urging its million-plus Realtor members to ask lawmakers to extend the tax break for another year. More than a quarter of all transactions involve distressed properties, the NAR said in its plea. "Homeowners shouldn't be forced to pay a tax on money they've already lost with cash they never received."
• Deduction for mortgage insurance premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012.
• The 15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012.
• The 10 percent tax credit (up to $500) for homeowners for energy efficiency improvements to existing homes is extended through 2013 and made retroactive to cover 2012.
• "Pease limitations" that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high-income filers. "Pease" limitations will only apply to individuals earning more than $250,000 and joint filers earning more than $300,000. The thresholds are indexed for inflation so will rise over time. Under the formula, filers gradually lose the value of their total itemized deductions up to a total of a 20% reduction.
First enacted in 1990 and named for Ohio Congressman Don Pease, who proposed the idea, the limitations continued throughout the Clinton years. The limitations were gradually phased out starting in 2003 and eliminated in 2010. Reinstitution of these limits has far less impact on the mortgage interest deduction than a hard dollar deduction cap, percentage deduction cap or reduction of the amount of mortgage interest deduction that can be claimed.
• The capital gains rate remains at 15 percent for individuals earning less than $400,000 per year and couples earning less than $450,000. Any gains above these amounts will be taxed at 20 percent. The $250,000/$500,000 exclusion for the sale of principle residence remains.
© 2013 Florida Realtors®. Reprinted with permission. Florida Realtors®. All rights reserved.
Today’s real estate market is a challenge. Be smart ~ work with a local island girl who knows the business. “Pine Island Pam” delivers good old fashioned customer service along with up to date technology for today’s competitive market. Call (239) 699-6567 or e-mail Pam@PineIslandPam.com. Check out my website at PineIslandPam.com.
