You may find that the information I provide is sometimes contradictory. As I always try to remind everyone, "the market" is very location specific. Reading news about national statistics or even state or county statistics may not be (and in most cases isn't) relevant to a local market. Here in the greater Phoenix metro area, the range is HUGE. For example, stats for the Paradise Valley luxury market have pretty much no relationship to the metro market, except that when you see stats for the metro market they include all areas and, as noted recently by Michael Orr, author of the Cromford Report, when there are less sales in the luxury market, the numbers can change drastically for the rest of the market.
Also, included in today's topics is an article about the rumored "Real Estate SalesTax" that has been flying around the Internet for some time now. Contrary to what you may have read in such an email regarding a real estate sales tax (also being called a transfer tax) that is tied to the new healthcare bill, please note that the tax is not a real estate tax, but a tax on investments and it won't affect everyone... only those showing a profit over the capital gains threshold. BTW, there are other tax rules for sale of a primary residence. Anyone considering selling a home should certainly consult their tax advisor.
Below you'll find a link to the explanation about the so-called "sales tax" by SNOPES and an article from the National Association of Realtors® about the same issue.
http://www.snopes.com/
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