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A rumor about a 3.8% federal tax on all home sales has again hit the in-boxes of Texas consumers and real estate agents. So, is there such a tax for all home sales? No.

The facts are that individuals with incomes over $200,000 a year ($250,000 for married couples) will be subject to a 3.8% tax on profits of more than $250,000 ($500,000 for couples) from the sale of a primary residence. So, a husband and wife who make more than $250,000 a year and sell their home for $510,000 more than their purchase price would pay $380.  

by Texas Association of REALTORS®   

Everyone has challenges presented to them in Life.  This year we have had a few, but overall we are very blessed.  The short story is our business name will be changing.  We are still the same family owned company that works diligently for our clients, only under a new name.  We would very much appreciate the support of our clients and friends in this change.  Having to rebrand ourselves after all this time is a little challenging but we expect it to be a smooth and positive transition.  Read on if you are interested in the longer version.

This challenge came in an unexpected call from a Real Estate Broker in Nevada earlier this year.  The gentleman informed us that we might not have the right to use our business name.   Now, I want to assure you we went about forming our business legally and correctly. We filed an LLC through the State of Texas, and of course file our county, state and Federal tax returns as we should.  However, unknown to us was a company out of Las Vegas NV who several years ago purchased another company out of California with a very similar name (Better Homes Realty).  The California company had registered their logo & name with the United States Patent office many years ago, but had never attempted to move in to the Texas market, as far as we know.  However the company that purchased them, Avalar/Better Homes, has determined that they want to be a part of the Texas market and are claiming the name.  After consulting with our attorney and other patent type attorneys, we have decided to not fight their claim and to move forward, changing our name to prevent any further confusion.  They did ask us to join their franchise, but after much thought & prayer we have found that is not the right fit for our team.

Our plan is to continue to provide excellent services that rival any of the large franchised companies, but with the individual service of a boutique brokerage Real Estate office.  We appreciate the continued loyalty of our clients and friends.

Sold

Harvest Ridge, Fort Worth  -  The single story at 13220 Ridgepointe Road has been sold.

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Lost Creek Ranch, Fort Worth  -  The single story at 3612 Diamond Ranch Rd has been sold.

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Haslet Park Addition, Haslet  -  The single story at 205 Schreiber Drive has been sold.

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Mortgage Interest Rates for Fixed and Variable Rate Mortgages*
Rates as of Friday, 20th May, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
Arm Reset Term
Conventional - 30YR Fixed
360
4.625%
4.753%
$5.14
%
0.000%
$0.00
-
Conventional - 15YR Fixed
360
4.000%
4.124%
$4.77
%
0.000%
$0.00
-
3/1 Libor ARM
360
2.375%
2.488%
$3.89
%
0.000%
$0.00
36
5/1 Libor ARM
360
3.000%
3.117%
$4.22
%
0.000%
$0.00
60
USDA - 30YR Fixed
360
4.375%
4.501%
$4.99
%
0.000%
$0.00
-
FHA/VA - 30YR Fixed
360
4.375%
4.501%
$4.99
%
0.000%
$0.00
-
Jumbo - 30YR Fixed
360
%
0.000%
$0.00
5.000%
5.088%
$5.37
-
Jumbo - 5/1 ARM
360
%
0.000%
$0.00
3.750%
3.831%
$4.63
60


*Rates are subject to change due to market fluctuations and borrower's eligibility.
Important Mortgage Rate Disclaimer: The rates on agency conforming loan amounts are for borrowers who are have a middle FICO score over 740 and enough equity in their home to qualify for a refinance or a large enough savings to cover their down payment and closing costs. If the terms of their loan trigger any risk-based loan level pricing adjustments (LLPAs), the rate quote will be higher. LLPA's are based on such criteria as credit score, down payment, documentation type, LTV, property type, occupancy type, and program selected just to name a few. Please keep in mind that interest rates are market driven and subject to several changes daily.



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Bill Adcock
PNC Mortgage
700 E. Southlake Blvd. Suite 170
DFW Metroplex, TX 76092

13220 Ridgepoint
Fresh and Ready!

• 1,790 sq. ft., 2 bath, 3 bdrm single story - MLS® $125,000

 -  Take a look at this fabulous and fresh 3 bedroom home with seperate formal area. At first glance you will notice the lovely curb appeal with flagstone porch and great landscaping.

The floorplan has nice flow with a roomy kitchen that includes lots of counterspace and cabinets, open to breakfast area and large family room that boasts fireplace with gas logs.

Other features; upgrade lighting, high ceilings, covered flagstone patio with ceiling fan for outdoor living, sprinkler system and more. The interior was freshly painted and new carpet was installed in Oct/Nov 2010.

This is a must see! Call today for your personal tour.

Property information

Lost Spurs Ranch, Fort Worth  -  Announcing a price reduction on 3616 Silverado Trail, a 2,776 sq. ft., 3 bath, 4 bdrm 2 story. Now MLS® $145,000 - A Must See .....

Property information

Lost Spurs Ranch, Fort Worth  -  Announcing a price reduction on 3616 Silverado Trail, a 2,776 sq. ft., 3 bath, 4 bdrm 2 story. Now MLS® $145,500 - A Must See .....

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• 1,919 sq. ft., 2 bath, 3 bdrm single story - MLS® $212,000

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http://www.fortworthgov.org/citynews/default.aspx?id=83952  

The quality of life that has made Cowtown one of the nation’s most livable cities is gaining national attention once again.

Fort Worth was one of 26 cities and communities from across the U.S. named Wednesday as a finalist in the 2011 All-America City Award competition. Sponsored by the National Civic League, the award has recognized cities for civic engagement since 1949 and has helped past recipients bring new grant funds and employers.

Fort Worth won the All-America City Award in 1964 and again in 1993

Harvest Ridge, Fort Worth  -  Announcing a price reduction on 13220 Ridgepointe Road, a 1,790 sq. ft., 2 bath, 3 bdrm single story. Now MLS®$127,500 - .

Property information

Harvest Ridge, Fort Worth  -  Announcing a price reduction on 13220 Ridgepointe Road, a 1,790 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $129,750 - .

Property information

March 2011
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Sendera Ranch East, Fort Worth  -  We invite everyone to visit our open house at 14204 Cedar Post Drive on March 4 from 12:00 PM to 6:00 PM.

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Villages of Woodland Springs West, Fort Worth  -  The 1 1/2 story at 11828 Wolfcreek Lane has been sold.

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