Eliminate Capital Gains Tax On Any Home Purchased For The Next 12 Months!

There have been extensive bailouts this past year and there could be more to come. Tax payers can not afford to keep throwing money at every problem. ELIMINATING CAPITAL GAINS ON ANY HOME UNDER $1 MILLION PURCHASED WITHIN THE NEXT 12 MONTHS for as long as they own the property will not require one more penny of tax payer's money and it will help set a floor on housing. This should be considered.

1. All buyers receive an investment tax credit equal to 10 percent of their down payment up to 20 percent down. These parameters could be of course modified but the concept would immediately create additional demand and help stabilize the decline in housing prices.

2. Demand drove prices up so increasing demand is part of the solution. An elimination of a capital gains tax on housing could cause many investors to reconsider real estate as a good investment by removing some of the risk in this uncertain marketplace. Since prices have adjusted downward and interest rates are quite attractive this one extra ingredient could move more buyers into buying even in those areas not as effected by foreclosures.

3. It will keep things from becoming worse and it will keep tax payers from continuing to bail out more bad loans and desperate companies.

4. The foreclosure market has attracted many buyers but other homeowners, not yet facing that burden, are in need of help to sell now. Eliminating the capital gains tax for purchases will cause investors and insecure buyers to see this as a unique buying opportunity with attractive future benefits. This will keep some distressed sellers from becoming another foreclosure statistic and from prices declining further.

If I Can't Sell My Home, I Will Lease It!

The number of able and willing buyers has drastically declined but if you are one of the lucky Sellers to receive an offer, my recommendation is to do your very best to make it work.

Many home owners are growing tired of waiting for "the offer" and/or having to repeatedly reduce their asking price. So it has become a popular trend to lease and to try to and sell the home later when the market recovers. It seems that many feel the process of finding a good tenant is easy. Well, I should know since I have lease listings and have been working with clients looking to lease and believe me, it is not an easy task and it can be more complex than an actual purchase! Moreover, tenants in today's market want something in tip-top shape and they want it to be at those "deal" prices. They are not willing to spend money to make any changes to a property they do not own thus they commonly request that landlords make improvements to the property such as repairs, painting, new carpeting etc. before they agree to lease.

All property owners should be aware that there are risks involved such as, a tenant may not pay or may be responsible for serious damage the deposit does not cover or you may be trying to once again lease or sell in a market that is more troubled than before. The decision to lease a property should not be taken lightly or it could be a costly mistake.

Feel free to send me an email with your questions. I am here to help in any way I can.

Connie