Showing posts from July, 2012

Is There Really A New Tax On Real Estate Sales?

Well in a word - YES. But wait don't panic it may not even apply to you. The Medicare tax, which goes into effect on January 1, 2013, will impose a 3.8% tax on the net investment income of joint filers with adjusted gross income over $250,000, and single filers with adjusted gross income over $200,000.

So you can stop reading right here if you are not grossing over that $200/250K mark. However, if you are going to be selling Real Estate and are going to make a profit over the exclusion, currently $250k if single or $250K married on your primary residence it will add to your gross income, see below. Remember there is no exclusion for second homes or investment properties. Thinking of selling an investment property soon you may want to close before 2013.

If you do fall into the above $200/250K gross income the new Medicare tax will apply. You figure it on the adjusted gross income (this is the figure on the bottom of the front page of IRS Form 1040), which includes interest, dividends…

Non Judicial Foreclosure What Is It?

In California the main way that homes are foreclosed is called A Non-judicial Foreclosure.

This is the technical process that enables the bank to use the foreclosure process. The way to understand this process is to understand the basic framework used by lenders to secure loans to borrowers.

Two Kinds:
There are two (2) basic types of foreclosure in California. In a judicial foreclosure, a court action is commenced to foreclose the mortgage or deed of trust that secures the loan. This mode of foreclosure is really a lawsuit, and because of that is governed by the Rules of Civil Procedure and Rules of Evidence applicable to legal actions. The other type of foreclosure is the non-judicial foreclosure, sometimes called a trustee's sale under the procedures set forth in Civil Code. This mode of foreclosure is only available, however, if the deed of trust (or mortgage) contains what is called a power-of-sale clause.

You May Be Able To Sell Your Home as A Short Sale More Information.


3842 Eastgate - Virtual Tour - Under Contract

Palm Springs CA Newer Construction

Are you ready to move right in? Well this home is ready for you! Beautiful newer construction, barely lived in. 3 Bed 2 bath - lots of living space. Fully landscaped yard means you truly can move right in. All of the appliances are included with this home.

Awesome mountain views grace the western side of this home. A private walled yard offers plenty of space for whatever your imagination can hold. On the South side of the house is a gate and concrete drive to access the back yard - RV? quads? Boat? even that is already taken care of for you.

Beautiful tile floors throughout most of the living areas. Truly secluded Master suite on the opposite side of the house from the other bedrooms. Massive walk in closet and double vanities in the bath. Master also has a slider to the back yard.

Kitchen is huge with loads of cabinets and newer appliances. open to the family room and dining perfect for big family gatherings or dinner parties. Secondary bedrooms are do…

80656 Independence Ave Indio CA

Homes for Sale in Montecello II,






Michael Layton
Realty One Group
Licensed In:
License #:

80656 Independence Avenue
Indio, CA 92201
Bedrooms: 4

Bathrooms : 3 (3 full)
List Price: $249,000

Living Area Approx :

2567 S Gene Autry Trail C - Virtual Tour

Canyon Sands Condo South Palm Springs

Feels Like home be sure to see this Beautiful Condo at Canyon Sands - three bedrooms with an attached double garage.

Canyon Sands features single level bungalows set on park like grounds, that are walled but not gated, with all the amenities you want in your desert retreat.

This unit is very private tucked away in one corner of the complex. Enjoy Tennis, swimming pools, spas and outdoor seating areas are yours to enjoy.

Three bedrooms with a rare 2.5 bath arrangement, multiple patios and vaulted ceilings. Two private patios and loads of closets. There is a fireplace in the spacious living room and an entry hall with coat closet. The unit… has been updated with a new roof, new carpet and toilets.

View the Virtual Tour for 2567 South Gene Autry Trail, Palm Springs, CA

Happy Independence Day!

[caption id="attachment_1969" align="aligncenter" width="300"] July 4th 2012[/caption]

New Listing - Palm Springs