This Week's Edition of National Real Estate News 12/31/2012 (Video)

This week's national real estate news update - The housing  recovery is gathering steam and there is an optimistic forecast for 2013, Freddie Mac's housing outlook for the year ahead, and  New Years resolutions for Buyers and Sellers,. Click here for more- about moving, strategies and interest rates.

Click here for this months newsletter and our video news channel.

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

The 3.8 Percent Medicare Tax Beginning 1/1/2013 is NOT on All Property Sales.

Despite what you may have read, this tax is NOT on all real estate sales. The criteria for the tax does not, or will not  affect every homeowner across the board.

First, this tax is not aimed at homebuyers. The new 3.8 percent "Medicare tax" is on unearned income, and translates to an additional tax for homesellers only , and  further,  only under the following circumstances:

The new tax applies only to:

• Single taxpayers with a modified adjusted gross income (MAGI) in excess of $200,000 ,and

• Married taxpayers with a MAGI in excess of $250,000 if filing a joint return, or $125,000 if filing a separate return.

These taxpayers  pay the tax on their gain from the sale of their primary residence, but only on the amount of gain that exceeds the  $250,000 thresholds  for single taxpayers, and  $500,000 for joint tax returns.  

The tax is equal to 3.8% of the lesser of the taxpayers’ “net investment income” or the amount by which their MAGI exceeds their respected  threshold. Note the following example, offered by Realtor.org-

"John and Mary sold their principal residence and realized a gain of $525,000.
Th ey have $325,000 Adjusted Gross Income (before adding taxable gain).
Th e tax applies as follows:
AGI Before Taxable Gain $325,000
Gain on Sale of Residence $525,000
Taxable Gain (Added to AGI) $25,000 ($525,000 – $500,000)
New AGI $350,000 ($325,000 + $25,000 taxable gain)
Excess of AGI over $250,000 $100,000 ($350,000 – $250,000)
Lesser Amount (Taxable) $25,000 (Taxable gain)
Tax Due $950 ($25,000 x 0.038)

If John and Mary had a gain of less than $500,000 on the sale of their residence,
none of that gain would be subject to the 3.8% tax. Whether they paid the 3.8% tax
would depend on the other components of their $325,000 AGI."

If you have any questions about this tax, and whether it applies to you, please consult your accountant.

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1.4M. See the virtual tour HERE

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Five "MUST-HAVE" Safety Gadgets for Your Home

You’d do just about anything to protect your family and your home. Take a look at these five safety devices that make it easier to get some peace of mind.

•    See who’s there. Traditional peepholes are difficult to see through, making it easier for unannounced—and potentially unsavory—visitors to get you to open your door. LCD peephole viewers attach over existing peepholes and let residents view their visitors on screens that are about the size of a digital camera’s. Features can include wide angle and zoom modes, low-light visibility and image recording capability.
•    Turn on the TV (light). Timed lights that come on at the same time each night may not fool burglars, but the flickering light of a television might. Rather than leaving your TV on when you’re away from home, look into LED TV simulator units. These small devices use less energy than a TV but emit lights that flicker and change color and intensity, giving the appearance from outside the house that a TV is on—and that someone is home.
•    Stop the flow. When a sump pump overflows or a washing machine hose fails, you could be out thousands of dollars in repair bills. Instead, a wireless water leak alarm can alert you to a leak before it becomes a whole-house disaster. When they detect a leak, these devices send out a loud alarm. For added protection, install a whole house alarm that will automatically shut off the entire water supply if a leak is detected.
•    Listen to your detector. You may think no one could sleep through the shrill alarm of a smoke detector, but your children might not wake up. An American Academy of Pediatrics study found that just 58 percent of children awoke to the sound of a smoke alarm within five minutes—but half woke within 20 seconds of hearing their parent’s voice. “Talking” smoke and carbon monoxide detectors let parents record a message telling the child to wake up and what to do next.
•    Unclog the vent. Over time, lint from the dryer accumulates in the exhaust vent, creating clogged conditions that can lead to a fire. Though annual cleanings of your exhaust vent are always recommended, a pressure system sensor can let you know when a lint clog is inhibiting air movement. These systems send out an alarm when air movement is seriously restricted in the vent, potentially giving you time to prevent a fire before it’s too late.

The information in this article was obtained from various sources. While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. These suggestions are not a complete list of every loss control measure. The information is not intended to replace manuals or instructions provided by the manufacture or the advice of a qualified professional. Nor is it intended to effect coverage under any policy. State Farm makes no guarantees of results from use of this information. We assume no liability in connection with the information nor the suggestions made.

Article submitted by Brennan Purdy of State Farm Insurance

My vision is to be an insurance professional whose actions are driven by keeping the customer's best interest as my primary goal. My staff will treat all my customers in a caring, friendly, and professional manner. My office will provide warm, efficient, and seamless services to our customers at all times. I expect my business to be comprised of knowledgeable, multiple-line customers who see my office as their first and best choice for all their insurance and financial service needs

For more information on these and other home safety tips, stop by my office or visit www.brennanpurdy.com. My office is conveniently located in downtown Bethel. 203-798-7300.                   211 Greenwood Avenue , Bethel, CT 06801

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1.4M. See the virtual tour HERE

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Best of Business Spotlight- Westport CT "Frank & Lu" Childrens Clothing

Whenever we hear of, or visit a great new local business, we want all of our friends, followers and fans to know about it.

Recently, a chic childrens clothier called "Frank & Lu" opened up in Westport, Connecticut.

Their reasonably priced clothing line is designed by company founder and CEO Michael Jarvela, a fashion designer with nearly 20 years of experience. Jarvela was previously Vice President of men's Design at the Gap, and acknowledges that Frank and Lu was born out of frustration with the impossibility of finding fashionable kids clothes at affordable prices.

Their motto is "Big Fashion For Little People" and it is certainly appropriate.

We give a hearty thumbs up to this local business, and would not be surprised if this first location turns into their flagship store, and one of many across the country.

Visit Frank & Lu  at 177 Post Road West (Nash's Plaza)

203-557-0328
http://www.FrankandLu.com

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1.4M. See the virtual tour HERE

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) G

How to Avoid a Holiday Decorating Disaster

‘Twas the day after Thanksgiving, when all through the home
Through boxes of holiday gear we started to comb.
Decorations and lights were strung up without care,
Not an outlet was empty, no power strip bare.
When down in the living room there arose such a clatter,
I sprang from my bed to see what was the matter.
When what to my wondering eyes should appear, but…
…smoke and fire – oh dear!

Very few traditions are as unique to the holiday season as the practice of decorating our homes and yards with twinkling lights and festive decorations. While they definitely add to the magic of the season, some of our favorite holiday traditions also increase our risks for holiday fires and injuries.

Luckily, there are steps you can take to ensure a safe, bright and happy holiday for your family. Give your holiday story a happy ending with these simple reminders from the Electrical Safety Foundation International (ESFI).
If you are purchasing new decorations, shop only at reputable retailers, and check to make sure the products have been approved for safe use by a nationally recognized testing laboratory. Consider buying LED-type lights, which use less power and burn cooler than traditional incandescent lights. Always follow the manufacturer’s use and care instructions that accompany your decorations.

Carefully inspect each electrical decoration and extension cord before use; discard any damaged items. Cracked sockets, bare or frayed wires, and loose connections may cause a serious shock or fire. Determine how many outlets are available and where they are located. Avoid overloading outlets, which can overheat and also cause a fire. ESFI recommends never connecting more than three strands of incandescent lights together. Do not pinch cords in windows or doors, or under heavy furniture, which can damage the cord’s insulation.

There are a few extra things to consider when decorating outside. Always use a ground fault circuit interrupter (GFCI)-protected outlet outdoors. Make sure all decorations and extension cords are marked for outdoor use. Exercise extreme caution when decorating near overhead power lines. Use a wooden or fiberglass ladder instead of metal, which conducts electricity. Keep yourself and all of your equipment at least 10 feet from power lines. Outdoor extension cords and lights should be kept clear of standing water and snow throughout the season.

Christmas trees are an important holiday tradition for many families. If purchasing a live tree, check for freshness. A fresh tree will stay green longer and is less of a fire hazard than a dry tree. Heated rooms dry out live trees rapidly. Place the tree at least three feet away from all heat sources, including fireplaces and space heaters. Be sure to keep the stand filled with water. For artificial trees, look for the label “fire resistant,” indicating that the tree is more resistant to burning. Decorate your tree, live or artificial, with non-combustible or flame resistant materials. Never use burning candles on or near your tree.

Whether your house is the most festive one on the block or you prefer a more low-key decorating style, make safety an important part of your decorating tradition. Don’t let your holiday story end with a decorating disaster.
Electrical safety awareness and education among consumers, families, employees, and communities will prevent electrical fires, injuries, and fatalities. Visit ESFI’s Virtual Home to learn more about home electrical safety.

Source: Electrical Safety Foundation International

Article submitted by Brennan Purdy of State Farm Insurance

My vision is to be an insurance professional whose actions are driven by keeping the customer's best interest as my primary goal. My staff will treat all my customers in a caring, friendly, and professional manner. My office will provide warm, efficient, and seamless services to our customers at all times. I expect my business to be comprised of knowledgeable, multiple-line customers who see my office as their first and best choice for all their insurance and financial service needs

For more information on these and other home safety tips, stop by my office or visit www.brennanpurdy.com. My office is conveniently located in downtown Bethel. 203-798-7300.                   211 Greenwood Avenue , Bethel, CT 06801

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

The Featured Home of the Week is at 125 Norton Road in Easton  for $1.4M. See the virtual tour HERE

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY