Another tax is going to be implemented on real estate starting January 1st.
In order to cover the two month "payroll tax holiday" fees will be increased on government backed mortgages from Fannie Mae and Freddie Mac.
The fee will be an additional 0.1 "surcharge" paid monthly on mortgages from both government backed institutions.
A typical $200,000 mortgage will see an approximate increase of $17 per month.
The Payroll Tax is used to fund Social Security. A two month "tax holiday" will take around $33 billion dollars away from the Social Security Trust Fund.
Bottom line: There is not free ride. Regardless of your political affiliation one thing stays the same: Somebody has to pay!
Showing posts with label app download the norton agency. Show all posts
Showing posts with label app download the norton agency. Show all posts
Thursday, January 12, 2012
GAR Contract Changes for 2012
We just completed our 2012 GAR (Georgia Association of Realtors) contract class.
Every year we go through this class as GAR continually refines our contracts. Every change helps our buyers and sellers and the amount of protection we offer them in their real estate transaction.
The biggest change to the GAR contracts is in reference to access to the actual contracts. Starting this month there some new procedures in place.
Real estate agents, who are members of the National association of Realtors and GAR, will continue to have full access to all GAR forms.
However if an agent is not a member of GAR, they will have to pay an annual subscription fee in order to access the GAR contracts.
The last option is that an agent can us non GAR contracts that will be available on both of the Atlanta area listing services FMLS and GAMLS. As this time those contracts will be available on a limited basis.
Bottom line: Real Estate agents in the state of Georgia are not required to be a member of the GAR or NAR. The Wells Team, of The Norton Agency, chooses to be members of these very important organizations. NAR provides us with a code of ethics, access to information, and training that allows us to provide the best service possible. Full access to the GAR contracts just solidifies our position a little more.
Every year we go through this class as GAR continually refines our contracts. Every change helps our buyers and sellers and the amount of protection we offer them in their real estate transaction.
The biggest change to the GAR contracts is in reference to access to the actual contracts. Starting this month there some new procedures in place.
Real estate agents, who are members of the National association of Realtors and GAR, will continue to have full access to all GAR forms.
However if an agent is not a member of GAR, they will have to pay an annual subscription fee in order to access the GAR contracts.
The last option is that an agent can us non GAR contracts that will be available on both of the Atlanta area listing services FMLS and GAMLS. As this time those contracts will be available on a limited basis.
Bottom line: Real Estate agents in the state of Georgia are not required to be a member of the GAR or NAR. The Wells Team, of The Norton Agency, chooses to be members of these very important organizations. NAR provides us with a code of ethics, access to information, and training that allows us to provide the best service possible. Full access to the GAR contracts just solidifies our position a little more.
Monday, January 9, 2012
Obama Health Care Plan and Real Estate Tax
I just received an email from my Dad about a real estate tax that would be part of the Obama Health Care plan.
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time.
I have attached two links to the National Association of Realtors website. One link provides details on the tax with the other providing the position of the National Association of Realtors concerning this subject.
http://www.realtor.org/small_business_health_coverage.nsf/pages/health_ref_faq_med_tax?opendocument
http://www.realtor.org/small_business_health_coverage.nsf/Pages/health_ref_faq_advocacy?OpenDocument
This provision has been discussed since late 2010 but is worth revisiting. Please familiarize yourself with this tax provision.
Bottom line: Regardless of your political views if you want to have a federal program you have to find the money to pay for it!
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time.
I have attached two links to the National Association of Realtors website. One link provides details on the tax with the other providing the position of the National Association of Realtors concerning this subject.
http://www.realtor.org/small_business_health_coverage.nsf/pages/health_ref_faq_med_tax?opendocument
http://www.realtor.org/small_business_health_coverage.nsf/Pages/health_ref_faq_advocacy?OpenDocument
This provision has been discussed since late 2010 but is worth revisiting. Please familiarize yourself with this tax provision.
Bottom line: Regardless of your political views if you want to have a federal program you have to find the money to pay for it!
Thursday, October 6, 2011
The Norton Agency Has a New App
The Norton Agency is a local company with its dominant presence in North Georgia. Even though we are local, our company keeps up with the latest technology.
If you go the website below, you will be able to download an app that features The Norton Agency. The app will take you to our website where you can search the latest residential and commercial properties available. You will also see the additional services the company provides including property management, Homeworks, insurance, and our affiliations with closing attorneys and title companies.
http://www.wdun.com/accesswdunapp/
The Norton Agency: Local knowledge with both a national and international presence.
If you go the website below, you will be able to download an app that features The Norton Agency. The app will take you to our website where you can search the latest residential and commercial properties available. You will also see the additional services the company provides including property management, Homeworks, insurance, and our affiliations with closing attorneys and title companies.
http://www.wdun.com/accesswdunapp/
The Norton Agency: Local knowledge with both a national and international presence.
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