Learn the Facts
I have been hearing false rumors going around about a transfer tax on all real estate sales. The claim is that the Affordabel Care Act includes a 3.8% tax on all real estate sales. Not so.
The act does include a 3.8% tax on some investment income, it will effect the majority of home sales, especially in the Odessa & Midland TX home sales. The tax applies only to people with adjusted gross income of $200,000 ($250,000 for a joint return). Also, as a homeowners, if you sell your principal residence, you will continue to receive the exclusion of $250,000 of gain on the sale of the home ($500,000 for married couples).
If you want to know the truth about what is going on in the Odessa TX, Midland TX. and Greater West Texas real estate market – call me at 432-934-4439 - I am always here to help. Specializing in Odessa TX homes for sale and luxury home marketing.
Make It Your Own,
Author Bio: Donna Edwards is a broker associate of DeRiso & Haynes Realty in Odessa Texas, a highly regarded boutique firm of Odessa Realtors – selling more homes annually than any other firm in Odessa! For more information on how we can best serve your real estate needs, give her a call at 432.934.4439 or by email at donna@OdessaMidlandHomes.com . Also, check out what fabulous clients have to say on her testimonials page!