March 2012

Yes it’s getting better; But, it’s not over yet: Housing’s Next Challenges

by on Friday, January 27, 2012 www.matthewferrara.com

The housing industry is showing some small but smart signs of improvement. But could these green shoots get mowed down before they can blossom? Here are four things to keep an eye on.

Some good signs are emerging in the housing industry. Selected markets around the country are stabilizing or experiencing modest growth. Nationally, inventory continues to fall towards market equilibrium. International dollars are helping urban areas absorb inventory and upper-end properties. Investors are gobbling up good deals and mopping up the distressed segment. Baby Boomers are cashing out of suburban homes bought long before the bubble, and taking that money into cities and luxury communities. By many accounts, there are some good things happening.

Brokers and agents are putting the recession to work for them, too, fundamentally altering organizational structures, improving efficiencies and trying new models (like auctions or no longer paying for leads) to drive down costs and drive up value to consumers. While some companies have closed their doors, others are springing up, without the legacy costs – and thinking – about how to sell properties. Little things – like improving standards, diligently pursuing leads and bringing an iPad to a listing presentation – are proving effective in creating opportunities in every market.

All good news. But let’s not let our guard down just yet.

Read entire article.

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Asheville Beer City Festival June 2nd! Tix are selling fast!

The ABA (Asheville Brewers Alliance) teams up with the folks from Brewgrass for Beer City Festival. It’s the brewer’s beer festival! Tickets are going fast for the event which will be held at Pack’s Square on June 2nd. You can still buy tickets at local breweries including Bruisin’ Ales and Barley’s. They are $45 cash only. Sounds like a darn good time! See the official website here.

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10 Reasons to visit Asheville, NC!

More love for Asheville… This is why we would not live anywhere else!

By Whitney Matheson, USA TODAY

Asheville, NC consistently receives accolades for its quality of life. In the past 10 years alone, it has been named the “Happiest City in America” by Self magazine, “Best Mountain Destination” in Southern Living, “Best Southern Town” in Outside magazine and among the “Most Beautiful Places in America” by Good Morning America. If you find yourself heading this way, here are a a few pop-culture-themed ways to check out our city: Read article here.

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Western North Carolina Home & Garden Show starts this week!

Western North Carolina’s premier Home Show starts March 16th and runs through the 18th. The Home & Garden Show is taking place at Asheville’s U.S. Cellular Center. The Home Lawn and Garden Show features displays of the latest home construction techniques, materials and products. Home furnishings, home builders, lawn and garden equipment, landscaping, pools and spas, home financing, appliances, home security and entertainment, decorating ideas, decks and patios, sporting goods, heating and cooling equipment home repair and renovation, and much more. Click here to go to Western North Carolina Home & Garden Show website.

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Really? Bel Air Home has 41 Bathrooms?!

Image from Bing Maps

The LA Times recently reported that the super wealthy need more bathrooms. Well, here is one Bel-Air mansion that might have the record.

Read more here.

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A 3.8% tax on the sale of your home? For real?

I have started to get this question from many realtors, friends, and clients so I wanted to make sure everyone is very clear about the new health care law as it pertains to selling your home.

Does the new health care law impose a 3.8% sales tax on the profit of your sale? No, with very few exceptions.

At the last minute, Democratic lawmakers decided on a new 3.8 percent tax on the net investment income of high-income persons. But the claim that this would amount to a $15,200 tax on the sale of a typical $400,000 home is completely false.

In order to to be taxed, if you are single you must make an income of $200,000 a year  or more and the first $250,000 in profit will not be taxed.

If you are married household income must be $250,000 or more and the first $500,000 in profit will not be taxed.

Realistically, only a tiny percentage of home sellers will pay the tax. Again, the tax will not apply to the first $250,000 on profits from the sale of a personal residence if you are single, or to the first $500,000 for a married couple selling their home.

To read more about the law click here.

 

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Hello From Mukunda

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