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Summit County News & Views is here!

by Allison Simson

Hello from Summit County!  We are in full gear for 2013 It’s starting out to be a great year!

Here is our latest (and greatest!) News & Views magazine.  It’s loaded with good info for you – Market updates, sales pricing history, articles on the various towns in Summit County, what your money can buy in Summit County, great properties – and best of all – the Summit Calendar of events! 

Please click on the picture below to enjoy our Winter edition of Summit Real Estate News & Views....

See something that catches your eye, please give us a call.  We'll be happy to send you more detailed information about ANY property for sale in Summit County.

We value your opinions and comments-if there is something you would like to see in our magazine next time, just ask!   Let us know what you think!  Have a safe and happy winter!

Fiscal Cliff - How it affects property owners

by Allison Simson

Question:  Allison, we are wondering how the “fiscal cliff” really affects us.  Any thoughts?

Answer: Just when you never wanted to hear the words "Fiscal Cliff" again, I’m glad you asked!  Here are some of the details of the changes in the law that affect property owners. 

(This information was compiled by the National Association of Realtors

* Mortgage cancellation relief is extended until January 1st, 2014.  This is for people doing short sales and not wanting to be taxed on the amount shorted to the bank.
* Deductions for mortgage insurance premiums for filers making under $110,000 is extended through 2013 and is retroactive for 2012.
* This one affects ALL home owners, the energy efficiency tax credit of 10% (up to $500) was extended through 2013 for improvements to EXISTING homes.
* Capital gains rate: This stays at 15% for those making under $400k/$450k.  After that tax rate is now 20%.  The $250k/$500k exclusion for the sale of a single family residence stays in place.
* Estate Tax:  The first $5m in individual estates and $10m in family estates are now exempt from estate taxes.  After that the rate is 40%.

 

This is just the down and dirty about how the newest changes may affect you and your family.  Give us a call if you’d like more information – or, as always, speak with your accountant to get detailed info about your particular situation!

 

For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Her philosophy is simple, whether buying or selling, she understands that the most important real estate transaction is yours.  Want to know the value of your Summit County property? Visit www.SummitHomeValue.com  

 

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Photo of Summit Real Estate Real Estate
Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker