There are rumors flying all over the net that the recent OK by the Supreme Court to uphold the Affordable Care Act will mean a 3.8% Tax on Home Sales on 2013. Well it's not that easy. So to clear it all up, the National Association of Realtors issued this statement

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Now that the Supreme Court has upheld the health care legislation, all of its major provisions remain in effect, including the new tax that was designed to affect upper income taxpayers.  The 3.8% tax is imposed ONLY on  those with more than $200,000 of Adjusted Gross Income (AGI) ($250,000 on a joint return).  The tax applies to investment income, defined as interest, dividends, capital gains and net rents.  These items are all included in an individual's AGI.  A formula will determine what portion, if any, of these types of investment income would be subject to the tax.
The tax is NOT a transfer tax on real estate sales and similar transactions.  Not long after the tax was enacted, erroneous and misleading documents went viral on the Internet and created a great deal of misunderstanding and made the tax into something far more draconian than the actual provisions.
The new tax does NOT eliminate the benefits of the $250,000/$500,000 exclusion on the sale of a principal residence.  Thus, ONLY that portion of a gain above those thresholds is included in AGI and could be subject to the tax.

For your own situation, please consult a financial adviser or accountant.

"BUILDING A HEALTHIER GOOGLE INITIATIVE"

Artist Ian Ross was challenged by Google to create a mural bringing the outdoors in for Google's new Mountain View, CA office wing.  

His unique "organic style" brings into the office the tranquility of nature.  

As people view these images, the large deer looking directly at them and the smaller ones not aware anyone is there, onlookers realize that perhaps they are in no normal place. They have now entered into a space in which artists are at play and where anything can happen.

 

 

ALERT: THOUSANDS MAY BE KNOCKED OFF COMPUTERS ON MONDAY

Crain's NY and other publications are warning computer users that, according to the FBI, there are about 64,000 uses who may be affected.

To check your computer go to http://www.dcwg.org/ and that site can check your computer and supply a fix.

Check it out.

A GOOD TASTE OF F LORIDA HOSPITALITY

Wishing for a getaway, nearby, with historic reminders and beautiful gardens, near a downtown area brimming with museums, theaters, interesting eateries, Antiques Row, art galleries, yachts on waterways and a new downtown waterfront area? 

You can get away from the cares of the day with a weekend or longer stay at the Casa Grandview, located in downtown West Palm Beach’s trendy Grandview Heights historic district, south of City Place and Clematis.   Here you will enjoy a 1925 historic bed and breakfast inn featuring private luxury vacation resort cottages, main house guest rooms and 1948 art deco cabana suites.  It has received the AAA Four Diamond Award.  

Accommodations are chic, warm, eclectic styles and inviting and retain the original interior architecture.  There is a cozy Caribbean-like island atmosphere with a Mediterranean flair.

Walk beneath a canopy of leafy palms and flowering trees.  Sit in the garden and enjoy the serene view.  Feel surrounded by history.  Some rooms reflect the Henry Flagler Era of 1893-1913, or the Palm Beach Boom Era of 1913-1926.  Others remind you of the Historic Neighborhood Downtown Boom Era of the 1894-1920’s.

Choose from Spanish Mission, Revival, Craftsman Bungalow, Art Deco and Key West styles, one or two bedrooms and suites.  This off-the-beaten path resort provides an authentic Florida vacation experience and gracious hospitality.  There are one bedroom units, suites with living rooms, units with kitchens.

Walk to the tennis courts, the Kravis Center, and the Convention Center.  Bike or jog the scenic route.  Have lunch at the world famous Breakers Hotel.

Some accommodations enjoy complimentary breakfasts, coffee and tea service and all have allergy blocking mattress and pillow encasements.  There is a DVD rental library, hammocks, keyless door entry, 600-thread count sheets, outdoor lounging areas, chaises, dining and grilling areas.  Cottages have washers and dryers.

For more information.

Come on over on certain Saturdays, listed below, and join the "Taste History and Culinary Tours of Historic Palm Beach County."  Visit restaurants, eateries, cafes and markets in historic districts, areas and buildings in either Delray Beach, Boynton Beach, Lake Worth or Lantana, and enjoy food sampling. Learn about food history, food culture facts and foodways.

You  will be touring on a bus and walking four to six blocks for four hours, rain or shine, visiting at least two of fifteen eateries regularly on the tours, markets and urban farms.  See and hear narrative information by a live guide on historic buildings, districts and landmarks located along the tour.  Dietary restrictions cannot be accommodated but you may visit local home-grown markets, vegan restaurants, organic eateries, gourmet restaurants, soul food, visit an urban farm, and more.  Some food tasting is standing only - no sitting, so wear comfortable shoes.

Cultural Arts venues include stops at the Lake Worth Art League Gallery and the Clay, Glass, Metal, Stone Gallery in the downtown Lake Worth arts district. Cost is $35 per person, less for groups of ten, all paid in advance.   Tours being at 11 am so be there at 10:45 am.  Tours start at the Boynton Beach Mall (Macy's - Outside at East Entrance), 801 N. Congress Avenue.

The Tour is run by the Museum of Lifestyle & Fashion History in Boynton Beach, a non-profit 501c3.  Tours are held on the 2nd (Lake Worth), 3rd and 4th Saturdays (Delray Beach and Boynton Beach) of each month, year-round. The website is http://mlfhmuseum.org/culinaryfoodtours.html.

For more information call 561-243-2662 or E-mail tour@tastehistoryculinarytours.org. Private group tours are also offered.

 

 

IDEAS FOR LIVING LONGER, NOTHING NEW BUT YOU MAY NEED TO REFOCUS

United Healthcare’s 7^th Annual 100@100 Survey found that more than half of the 100-year olds exercise nearly every day.  Activity favored by  nearly half: walking, and almost as many do exercises to strengthen their muscles.  Some enjoy yoga, Tai Chi, riding a bike, jogging or participating in sports.  It is estimated there are 72,000 centenarians nationwide with Medicare plans.  

The survey included 300 baby boomers in their early 50’s, and 100 centenarians and answers focused on talking with a friend or family member almost every day,  attending social events, and finding reasons daily to giggle or laugh.

Asked who to invite to a family dinner from a list of 14, Betty White was number one for 78%.  Half would pick “Gone with the Wind” as the greatest movie from the  past 100 years.  Boomers picked “It’s A Wonderful Life.”

Almost 75% of the centenarians polled said they will vote in November.

RIS MEDIA: HOUSING MARKET MAY BE ON THE RISE

The key word is MAY.

Many economists see the easing of foreclosures as the key reason the market may be on the rise.  However, they note, “Banks still retain many foreclosed properties on their books and some analysts have predicted that housing prices could weaken again if lenders dump these properties into the recovering market.”

Lowe’s Daily Real Estate Report for first three months of 2012 says, “Foreclosure filings up in most markets.” This was for more than half of the markets tracked by RealtyTrac, “an early sign that long-dormant foreclosures are coming out of hibernation in many local markets.”

The foreclosures referred to above are only part of the shadow inventory, and more people who are “underwater” may do short sales or be foreclosed on in the near future.  Ris Media points out that one of several factors holding back a major turnaround in the housing market is, “the huge number of homeowners who owe more on their mortgages than their homes are worth leaving them essentially stuck in their properties.” 

One good sign is that Standard & Poor’s Case-Shiller Index of 20 US cities shows the steady shrinking in recent months of a year-over-year decline in home values.  Ris Media says, “analysts note that prices have stablizied and sales volume has been gaining.

DataQuick of San Diego reported that, “statewide the notices of default had a 17.6% drop from the same period last year.”  One of the early callers of the housing crash, Christopher Thornberg of Beacon Economics said, “What are important are sales and inventory, and those are pointing in the right direction… I would say that by the end of the year, they should translate into better prices.”  As reported in this blog recently, NAR Chief Economist said that by the end of the year prices might rise by 10%.  Zillow predicts a 5%+ price rise by the end of  the year.

Some promising factors for home sales include low interest rates and the availability of bargain-priced properties, and a prevalence of investors buying up, fixing up and renting out former foreclosures.  New home sales, with last year being their worst on record, are up 16% for the first three months compared to 2011.  Now we will wait to see what happens to some or all those shadow inventory foreclosures.

HIRING 5000 HEROES

Yesterday, job fairs for military veterans took place in New York, Chicago and Fort Hood, Texas.  In New York the job fair was held at the Intrepid Air & Space Museum.  There, over 5000 veterans and military spouses connected with more than 100 employers.  A total of 23,000 veterans and military spouses attended Hiring Our Heroes events.

 

Companies came with job opportunities in hand, including rock band KISS.  They received over 500 applicants for their roadie job.  Comcast was there. NBC Universal pledge to hire 1000 veterans over the next three years.

 

Over 400 more job fairs are being held across the country.  Military.com and Monster.com are holding virtual career fairs for veterans and military spouses; over 19,000 people applied online.

The campaign was held by the US Chamber of Commerce, the National Chamber Foundation and Capital One, which has pledge $4.5MM to support job fairs and workforce training initiatives.  NBC has promoted this effort.

Andrea Mitchell reported that the veteran unemployment rate was 12.1% last year.