Don't Let Negative Press Get you Down!

Lately, it seems the media been running so many negative stories about the housing market. These articles were mostly based on housing sales numbers from July. As you know, the federal tax credits expired the end of June, causing an all time high for closings. So the huge bubble in June caused a natural run down in closings in July and August. The media also neglected to report that prices for the fourth straight month had gone up nationally.



So, lots of negative news from the media, but things look positive from my vantage point. Our Howard Hanna Pepper Pike office is on a roll! When you look at our 2010 activity compared to 2009 -- we are higher in everything--units, volume, higher average prices. For example, average closed price in 2009 was $307,366 but our average YTD is $310, 259. We listed 273 homes at this time last year; 340 this year. And we've closed 269 homes, versus 227 at this time last year. Call me if you need a dose of positive news to offset the depresssing media!

New Real Estate Sales Tax - Fact or Fiction?

Have you heard the rumors of the alleged real estate sales tax, supposedly part of the new health care bill? Word on the street is the new tax will make all real estate transaction subject to a 3.8% sales tax.

Rest assured, this rumor is NOT TRUE! The health care legislation does contain a variety of new taxes and one of them can be influenced under certain circumstances by a sale of real estate. But it's pretty complicated and unlikely to affect most real estate transactions.