Some South Florida real estate agents close a $1 million home transaction once in a blue moon. And others, like EWM in South Florida, make it a core part of their business model.

Who would you rather work with when buying or selling YOUR $1 million plus home?

It is with great pleasure that we report to you that EWM was recently recognized as THE leading luxury brokerage in Miami-Dade and South Broward counties for listing single family homes over $1 million.

So what exactly does it take to hold this distinguished position in the region? It means:

• Selling a $1 million plus residence every 13 hours
• Closing 335 transactions in excess of $1 million each during the first six months of 2015
• Selling homes at an average sales price of $2,559,020
• And completing a total of $857 million in luxury sales between January and June of 2015.

Now that we’ve told you what we’ve done to get this distinction, we want to take a moment to share with you how we provide the most excellent luxury home sales services in South Florida.

What We Provide For You as a Luxury Home Seller

When you work with us as a home seller, we will work tirelessly to ensure that your home is being marketed to interested and qualified home buyers and that it fetches the highest price possible on the market.

Some of the specific tools we offer include our marketing plan for sellers, tips for showing your property and tips for pricing your property.

We also offer you access to our valuable home selling blog!

What We Offer to Our Luxury Home Buyers

As a home buyer, we will search high and low for the ideal South Florida luxury home for your lifestyle and price range.

Plus, in addition to thoughtful advice, some of the valuable resources we offer to our buyers online include a guide to South Florida communities, Buyer FAQs and School Information.

20 Most Recently Listed EWM Estates For Sale

Start Working With An Award-Winning South Florida Team Today!

As you can see, when it comes to luxury real estate in South Florida, no one knows it better than our expert agents at EMW!

Thus, when you’re ready to enter the market as a buyer or seller, be sure to connect with us!

Until next time,

Scott

Recently, the National Association of REALTORS® released a helpful statement about how health care reform does and does not affect real estate taxes.

Evidently, rumors have been circulating for months that the law contains a 3.8 percent tax on real estate.

In fact, the NAR has said that the tax does not target real estate and will likely not affect most home sales. That’s because this tax will only affect high-income households who experience substantial financial gains after an asset sale (including a home sale).

The National Association of REALTORS® went on to say that the tax would likely only affect 2 to 3 percent of home sellers.

Dispelling Rumors on the Real Estate Tax

Here’s what else the National Association of REALTORS® wants you to know about health care reform and how it affect real estate taxes:

The tax will affect few home sellers because there are a lot of criteria that must be met first for the tax to apply

• First, the home sale gain on the principal residence must be greater than the $250,000 to $500,000 capital gains exclusion that’s in effect today. Please note, this says gain and not sales amount. Thus, it’s a pretty substantial profit margin.
• Second, those homes that do see a gain of more than $250,000 to $500,000 (specifically $250,000 for single filers and $500,000 for joint filers) need only count the amount above the exclusion into the tax calculation. This would still only apply to high income households, which is defined by law as single people earning $200,000 a year. For joint filers, that figure is $250,000 a year.
• Once that value is plugged in and if it’s seen as taxable, then the amount could be subject to a 3.8 percent tax.
• Although the tax took effect in 2013, any impact on taxes would not happen until 2014 because the tax filer would do the calculation in 2014 for the 2013 tax year.
• Finally, because this is not considered a tax on a real estate sale but rather on a capital gain, it would not be calculated at the time of closing. Rather it would be calculated at the time the individual files his or her taxes.

Of course, it’s important to check with a professional tax preparer about your specific situation but this is generally how the tax works.

Your Dedicated South Florida REALTOR®

Hopefully you now have some added clarity on what the health care reform tax on real estate does and doesn’t’ do.

For more information on this recent change as well as some perspective on how it may affect you as a South Florida home buyer or seller, make sure to contact me, Scott Patterson.

I will be more than happy to assist you with all of your South Florida real estate needs in such communities as:

• Aventura, Florida
• Hallandale, Florida
• Sunny Isles, Florida
• And others!

Until next time,

Scott