Happy 4th of July
Coldwell Banker Associated Brokers would like to take a moment to wish you and your families a very happy Fourth of July!
Independence Day is a time to spend with family and friends, while celebrating the most important event in our history – the founding of our country.
Our founding Fathers signed the Declaration of Independence so that its citizens would enjoy many freedoms, including the idea of private property rights. The “American Dream” of home ownership was established very early and is an integral part of the greatness of this country and the continued freedom of its people.
Coldwell Banker Associated Brokers is here to promote and protect the “American Dream” of home ownership. In these troubling times where citizens dreams of home ownership is challenged we are here to help.
We wish you a great second half of the year and enjoy the holiday!
Sincerely,
Coldwell Banker Associated Brokers
California expects mortgage-aid program to begin in weeks
The California Housing Finance Agency (CalHFA) reported this week that its “Keep Your Home California” program will be delayed because of logistical issues with the program.• Funded with federal money, the program offers four different types of cash assistance for an estimated 100,000 low- to moderate-income California homeowners. Additionally, eligible borrowers must have endured some sort of loss of income.
• The two primary forms of aid include $875 million dedicated toward unemployed Californians who need help making their monthly payments, and $790 million to be used to directly reduce mortgage loan balances.
• Although the program has been delayed for several weeks, homeowners struggling to make their mortgage payments are advised to not wait for assistance programs to begin before contacting their servicer or lender. Instead, homeowners should begin working with their lender or servicer at the first sign of difficulty.
• More information about the “Keep Your Home California” program can be found at
The “Keep Your Home California” program is a $1.83 billion government aid program that will pay down loan balances and provide monthly cash assistance to struggling California homeowners.
New Real Estate Transfer Tax – Coming Soon as a part of ObamaCare.
There is indeed a tax on the sale of real estate. It doesn’t apply to many people, but it WILL apply to some people that have profit from the sale of their homes. Starting in 2013, those with incomes over $200,000 will have to pay a 3.8% tax on profit from the sale of their primary residence or investment properties. The exact amount will be based on a formula that includes the profit from the property and the income above $200,000. The tax is not an income tax, but rather it is a “payroll tax”… officially it is a Medicare Tax.
My question is does Obama really care? I have a feeling this ObamaCare package has a lot of more of these hidden taxes in its 20,000 pages.
Hasn’t the housing market been hit hard enough, but now we have to contend with a tax on the sale of property. This is like putting the nail in the coffin of the housing market. This is going to affect not just the wealthy, but the people the wealthy hire to fix up their investment property to flip or rent.
Real Estate Update
DEAR FRIENDS, CLIENTS & ASSOCIATES:
Coldwell Banker Heritage House welcomes you to our on-line real estate magazine known as Yuba-Sutter Real Estate Guide. This publication is designed to reach a much wider area of home buyers and sellers and provide additional value to our clients. Buyers and sellers will also benefit from the pertinent and timely articles and statistics in each publication that will help them stay on top of the many influences affecting our areas unique real estate market. This is important information not found anywhere else! We hope you’ll find it useful!
View and browse homes for sale in Yuba City, Marysville, Plumas Lake and other area communities online. If you like this publication download it, sent it to a friend and subscribe.
October 2010
