I hope everyone enjoyed their first week of 2013! It's been busy in Washington as they work out the fiscal cliff right after the new year. I'm sure a lot of people have questions about the new bill- i.e. what it means and what's been resolved. For a quick review, click <<here>>
Real Estate News:
As for real estate, one of the items addressed was the Mortgage Forgiveness Debt Act which helps people that owe money to their mortgage lender. The Mortgage Forgiveness Debt Relief Act has been extended until January 2014- it allows homeowners who received principal reductions or other forms of debt forgiveness to not pay taxes on the amount forgiven. The amount extends up to $2 million of debt forgiven on the homeowner’s principal residence. The National Association of Realtors has put together a summary of real estate provisions in the new bill:
http://www.ksefocus.com/billdatabase/clientfiles/172/4/1711.pdf
Real Estate Fun:
Yahoo.com put together their homes of the week selling for $450,000. It's a fun way to see the type of house you can get in different parts of America, look at the various styles, locations and learn how much "house" you can get for the same amount of home.
Enjoy! yahoo-homes-of-the-week-homes-for-450-000-slideshow
No comments:
Post a Comment