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A Funny Thing Happened on the Way to Health Care...

By
Real Estate Agent with Sellstate Next Generation Realty

One of my sellers sent me an article from the Spokesman Review newspaper dated March 28th2010, written by Paul Guppy who is the VP of research for the Washington Policy Center, a research organization with offices in Spokane, Seattle and Olympia and the tri cities, www.washington policy .org

The article lists the many penalties that can be incurred with regards to the lack of providing health care,  but there is one little jewel in there that will be effecting the sale of your home. According to the article there will be a 3.8% tax imposed on the sale of your home and other real estate transactions.

Middle income people must pay the tax even if they are "rich" for only one day, the day they sell their home and the day  they buy the new one. On a $200,000 home that would be $760.

 I wonder where Mr. Seller will start to look for that 3.8%???? Get ready for that 3.8% squeeze! 

Remember the old Andy Griffth show with Gomer Pyle? Gomer's famous line was, "Suurprize, Suurprize".

 

Mary Krummenacher
RE/MAX Properties West - Saint Louis, MO

The devil is in the details eh?

Apr 15, 2010 01:51 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

I don't believe that is accurate. 

My information is that the new tax will apply to capital gains for persons with an income of over $250K.

I'm not sure of the details, but we don't want the consumers to believe that the tax is a blanket one and would apply to everyone.

 

Apr 15, 2010 02:00 AM
Sanna K. Thomas
Sellstate Next Generation Realty - Ocala, FL
PA GRI, E-Pro, SFR, AHWD, LH Ocala Florida Luxury

The devil is an interesting choice of words!!

Apr 15, 2010 02:01 AM
Sanna K. Thomas
Sellstate Next Generation Realty - Ocala, FL
PA GRI, E-Pro, SFR, AHWD, LH Ocala Florida Luxury

I hope you're right. Just quoting from the article,  but non the less the $250,000 a year crowd will not be happy!

Apr 15, 2010 02:03 AM
Anonymous
Tanya Spotts

Sanna,  I agree, there is much we do not know in this health care, taxes, reform etc.  I wish those who we elect would be more willing to act in good faith to protect the public and be less concerned about their own agenda.  Thanks for commenting on my blog" Plant Your Garden"

 

Apr 19, 2010 12:53 AM
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