SheldonTeam.com - Eastern Connecticut REALTORs "Your satisfaction is our first priority!" - Tom and Cathy Sheldon
Tom and Cathy Sheldon

www.SheldonTeam.com . . . YOUR 1st choice in Southeastern Connecticut REALTORs.   We work with BUYERS and SELLERS throughout Eastern Connecticut, primarily in New London County, but also in Windham and Tolland Counties.

Click to see the latest Town Profile information from the Community Economic Resource Center [CERC] in the communities we serve: Brooklyn - Bozrah - Canterbury - Colchester - Columbia - East Haddam - East Lyme - Franklin -Griswold - Groton - Hebron - Jewett City - Lebanon - Ledyard - Lisbon - Lyme - Montville - New London - Niantic - Oakdale - Old Lyme - North Stonington - Norwich - Pawcatuck - Plainfield - Preston - Quaker Hill - SalemSprague - Scotland - Stonington - Uncasville - Voluntown - Waterford - Windham 

 


NEW 3.8% Tax on Some Real Estate Investment


Beginning January 1, 2013, a new 3.8 percent tax on some investment income will take effect. Since this new tax will affect some real estate transactions, it is important to understand the tax and how it could impact your investment strategy. It’s a complicated tax, and it will affect every buyer or seller differently.

Understand that this tax WILL NOT be imposed on all real estate transactions, a common misconception. Rather, when the legislation becomes effective in 2013, it may impose a 3.8% tax on some (but not all) income from interest, dividends, rents (less expenses) and capital gains (less capital losses). The tax will fall only on individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with more than $250,000 AGI.

New Tax Rate: New Tax Rate:

Applies to: Individuals with adjusted gross income (AGI) above $200,000 AND Couples filing a joint return with more than $250,000 AGI

Types of Income: Interest, dividends, rents (less expenses), capital gains (less capital losses)

Formula: The new tax applies to the LESSER of (a) Investment income amount, (b) Excess of AGI over the $200,000, or (c)  $250,000 amount


USDA Income and Property Eligibility Site


 

 

The US Dept. of Agriculture offers some of the best home loan programs in the nation. When a property qualifies for a USDA mortgage product, a qualified buyer who obtains this mortgage will typically save betwen $60 and $100 per month on the cost of the mortgage over a FHA or conventional mortgage for the same amount. So it is always worth it for a buyer to his/her eligibility for these products early in the home search process.

To make it easy to search, the USDA has created a website to educate buyers. This site is used to determine eligibility for certain USDA home loan programs and the USDA Satellite Grant Program. In order to be eligible for many USDA loans, household income must meet certain guidelines. Also, the home to be purchased or served must be located in an eligible rural area as defined by USDA.

Use this link to:

  • learn more about a USDA home loan program
  • determine income eligibility of an applicant/household
  • find out how to apply for a Rural Development Loan

 


EPA Lead Paint Rule


Lead Paint Renovation and Repair Rule


The Partner Network Office Locations


 

180 Flanders Rd [Rt 161]
Niantic, CT 06357
Phone: 860.701.0600 x238 (Tom) x239 (Cathy)

sheldon_REALTOR@hotmail.com

Fax: 860.691.2295 or 860.701.0644 

210 West Town Street
Norwich, CT 06360
860.887.1145
www.SheldonTeam.com

 


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