Is there a 3.8% real estate “sales tax” created in health care bill?
No. There is neither a real estate “sales tax” nor a real estate transfer tax under any federal law. The Internet has generated several viral items describing such a tax. Those Internet postings are totally false. The 2010 health care legislation did create a new 3.8% tax, but it applies only to a limited group of taxpayers. Get the scoop here on the new tax
Spring 2013 Update
For the first time in a long time, many sellers of well priced homes are receiving multiple offers on their homes! Rolling quarter data recently released by the Maine Real Estate Information System The spring real estate sales season in Maine has arrived with double-digit sales increases. Maine Listings reported a 13.71 percent rise in sales of single-family existing homes during the month of April 2013. The median sales price (MSP) for the 937 homes sold statewide last month reached $174,900, an increase of 4.14 percent. The MSP indicates that half of the homes were sold for more and half sold for less.
While home buyers are realizing that we have now past the bottom of the market dip, interest rates are still at historic lows. This is enabling them to buy more house than in years past. Rates are predicted to increase, so buyers looking for homes now are in the best position possible. Be sure to check out the mortgage calculator in our sidebar.
