Austin Real Estate Update

My friend just emailed this to me and though I have heard about this I wasn't aware it passed or has it?

I thought the Government was trying to stimulate the economy.  It appears that this will the do exact opposite.

If home owners have to pay thousands of dollars more on top of normal closing costs, there will be less of an incentive to buy another home.  And what about those home owners with little to no equity.  What the hell are they thinking? 

Our economy is still far from stable considering all of the new foreclosures and short sales coming on the market on around the country. Not to mention all of the corporate bailouts and the stock market going on a sea saw.

About the only thing we still have to be thankful for are the lowest interest rates in history.  I guess home owners need to decide to sell now and buy their dream home or refinance and stay put until they can afford to stomach another 3.8% in closing costs.

Carol stated, "The National Association of REALTORS is all over this and working to get it repealed, before it takes effect. But, I am very pleased we aren't the only ones who know about this ploy to steal billions from unsuspecting homeowners. How many REALTORS do you think will vote Democratic in 2012?

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That's $3,800 on a $100,000 home, etc. When did this happen? It's in the health care bill and goes into effect in 2013.

Why 2013? Could it be to come to light AFTER the 2012 elections? So, this is "change you can believe in"? Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax.

If you sell a $400,000 home , there will be a $15,200 tax.

This bill is set to screw the retiring generation who often downsize their homes or sell their homes so they can

afford to move into a retirement community. Does this make your 2012 vote more important?

Oh, you weren't aware this was in the Obamacare bill?

Guess what, you aren't alone. There are more than a few members of Congress that aren't aware of it either

http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home

I hope you forward this to every single person in your address book. VOTERS NEED TO KNOW."

If you are thinking about buying, refinancing or selling, now is the time.  Don't wait until it's too late!  Call Premiere Team Real Estate today for a FREE consultation offering you the pros and cons of buying, refinancing or selling now.  Call Mike Cusimano at 512-345-1919.