Home Sales Tax
Real estate home sales – – I believe Nancy Pelosi said something like if you want to know what’s in the healthcare bill (Obamacare) you have to pass it. Well, unfortunately as we all know, with a lot of backroom deals, Obama care is now law, and we’re slowly finding out really what’s in it.
I know I’m going to get a lot of flak on this, but the flak will be mainly over my use of the term “tax.” It seems politicians are great on trying to trivialize facts; they get into the minutia of the debating the meaning of common words. So, tax may sound better as a fee, a levy or even a deduction. For the sake of this post, I’ll go with calling this what I think it is, a tax. Buried deep inside Obama care is a provision that starting in 2013 (it’s not a coincidence that this starts right after the presidential elections) if you sell your home, or for that matter any real estate you may be subject to the new Obama care 3.8% sales tax. Read more 
S&P/Case-Shiller Home Price Index Falls
San Diego real estate agent
S&P/Case-Shiller Home Price Indices report was just released this morning. Unfortunately, it seems to indicate that home prices have still not hit bottom. Though, the decline in home prices seems to be slowing, which is a good sign. For April 2011, the Case-Shiller index registered a decline of 4% from March 2010. This April reading is the lowest reading since November 2010. Read more
Economy, Inflation, Gold, Economic Growth
The rising prices in the economy aren’t transitory. The best evidence of this is the fact that Ben Bernanke believes that it is. Anything that he says is wrong. Economic activity is contracting, especially in terms of gold and silver. It is only all the inflation that is giving the illusion of economic growth. The dollar will most certainly collapse, perhaps as early as this fall.
Look at the fundamentals, the reason gold is rising in price is because of the weakness in the dollar, and its steady decline in value, this will continue until there is a end to the expansion of the USD moneys supply.
Crystalline gold
Real Estate Foreclosures
real estate foreclosures
Real estate foreclosures — According a report by RealtyTrac, one out of every 9 homes in Las Vegas received some kind of default notice in 2010. But there is some good news: The foreclosure rate is actually dropping in Vegas, down 7% compared to the end of 2009. In fact, rates fell in all top 10 foreclosure markets of 2010. Read more
Home Sales Decline in May
Home Sales
Home Sales Decline
The National Association of Realtors® reported today that Existing-home sales were down in May. Existing-home sales fell 3.8 percent to a seasonally adjusted annual rate of 4.81 million in May from a downwardly revised 5.00 million in April, and are 15.3 percent below a 5.68 million pace in May 2010.
Existing-home sales in the West were unchanged at an annual pace of 1.17 million in May but are 10.0 percent lower than a year ago. The median price in the West was $192,300, which is 12.6 percent below May 2010.
Naturally, the National Association of Realtors®, implies that severe weather conditions in parts of the country and tough qualifying conditions for new mortgages were him part, to blame for the sales decline.
One should keep in mind,that seasonally, this is the strongest marketing time for real estate. Also, interest rates are near historic lows, and there is a large inventory of homes for sale.
San Diego downtown condos
California Real Estate Sales Loss
Calpers suffers a $367.5 Million loss over just a five year period on a Arizona real estate deal.
Bloomberg News recently reported that the California Public Employees’ Retirement System was part of a group of investors in a 10,200-acre desert land deal in Arizona that was purchased for $400 million five years ago. This same land parcel was just sold for $32.5 million. Read more