HomeFinders Weekend Oct. 5-7, 2012 by The Wenatchee World

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North Central Washington

Homefinder’s WEEKEND WEEK OF OCT. 6TH

4.) If you sell your principal residence, you will still receive the full benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain above these amounts as income on your Form 1040 tax return. Even then, if your total income (including this taxable portion of gain on your residence) is less than the $200,000/$250,000 amounts, you will NOT pay this tax. If your total income is more than these amounts, a formula will protect some portion of your investment.

Realtor’s Corner 3.8% Tax on Housing? Answers & Resources by THE KCM CREW on SEPTEMBER 25, 2012 · 2 COMMENTS

We have previously reported on the questions surrounding the existence of a 3.8% tax in the administration’s health care program. Today we want to update the post in order to help further explain the issue. – The KCM Crew

Here are the 10 Things You Need to Know About the 3.8% Tax according to the National Association of Realtors (NAR): 1.) When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will NOT be subject to this tax. 2.) The 3.8% tax will NEVER be collected as a transfer tax on real estate of any type, so you’ll NEVER pay this tax at the time that you purchase a home or other investment property. 3.) You’ll NEVER pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income.

5.) The tax applies to other types of investment income, not just real estate. If your income is more than the $200,000/$250,000 amount, then the tax formula will be applied to capital gains, interest income, dividend income and net rents (i.e., rentsafter expenses). 6.) The tax goes into effect in 2013. If you have investment income in 2013, you won’t pay the 3.8% tax until you file your 2013 Form 1040 tax return in 2014. The 3.8% tax for any later year will be paid in the following calendar year when the tax returns are filed. 7.) In any particular year, if you have NO income from capital gains, rents, interest or dividends, you’ll NEVER pay this tax, even if you have millions of dollars of other types of income. 8.) The formula that determines the amount of 3.8% tax due will ALWAYS protect $200,000 ($250,000 on a joint return) of your income from any burden of the 3.8% tax. For example, if you are single and have a total of $201,000 income, the 3.8% tax wouldNEVER be imposed on more than $1000. 9.) It’s true that investment income from rents on an investment property could be subject to the 3.8% tax. BUT: The only rental income that would be included in your gross income and therefore possibly subject to the tax is net rental income: gross rents minus expenses like depreciation, interest, property tax, maintenance and utilities. 10.) The tax was enacted along with the health care legislation in 2010. It was added to the package just hours before the final vote and without review. NAR strongly opposed the tax at the time, and remains hopeful that it will not go into effect. The tax will no doubt be debated during the upcoming tax reform debates in 2013.

Monthly home sales in the Wenatchee area Year to date totals Aug. 2012 = 658 Aug. 2011 = 513

Average sales price YTD Aug. 2012 = $242,101 Aug. 2011 = $247,543

Median* sales price YTD Aug. 2012 = $210,000 Aug. 2011 = $213,950

* Median price denotes that half of the houses were priced greater than the median price, half were lower

120 100

Dollar volume homes sold YTD 80 $200,000,000

$150,000,000 $100,000,000 $50,000,000 $0

40 AUG 2010

AUG 2011

AUG 2012

Source: Pacific Appraisal Associates (Figures include home and condo sales)

’10 ’11 ’12

MAR

APR

MAY

JUN

JUL

AUG

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North Central Washington

Homefinder’s WEEKEND WEEK OF OCT. 6TH

October 6 & 7, 2012

N<<B<E; FG<E ?FLJ<J Wenatchee $142,900

3437 Cassandra Open Sun. 12-1:30 Priced to sell now! This manufactured home sits on .60 acre. This home has 3 bedrooms, 2 baths, a family room 2 car garage and irrigation water. Directions: Easy Street, left on Lower Monitor Road, left on Cassandra Road. Century 21 Exclusively Dawn Wiser 387-1827

$149,000

59 Simmons Open Sun. 12-2                                   Century 21 Exclusively Andrea Lutes 670-4553

$175,000 1820 Heritage Dr. Open Sun. 12-1:30 Heritage Haven 55+ Senior Park Home! Security, pool, clubhouse, gym and social life. Spacious 3 bedroom, 2 bath home. Private covered patio. 2 car garage. Directions: From Western Ave. into Heritage Haven. Windermere Real Estate/NCW Jody Campbell 630-0722 $189,000

1001 Princeton Open Sun. 12-1:30 Beautiful, classic 2 story home with coved ceilings, leaded glass windows/doors, crystal door knobs. 3 bedrooms, 1 full bath, 2 half baths. 2 car garage, auto sprinklers and more. Directions: From Miller, West on Springwater, left on Princeton. Laura Mounter Real Estate & Co. Cheryl Duncan 669-1698 “North Central Washington REALTORS® support our farmers, and the agriculture industry. Buy Washington produce.”

$195,000

1315 Poe Street Open Sun. 2-3:30                                          Laura Mounter Real Estate & Co. Cindy Smith 664-6278

$199,900

1915 Linville Open Sun. 2-3:30                                      Century 21 Exclusively Dawn Wiser 387-1827

$225,000 25 Furney Open Sun. 11:30-1 3164 Sq. Ft. rambler on full basement. Many upgrades. Directions: S. on Miller, right on Washington, right on Furney. John L. Scott Wenatchee Darlene Garton 881-1600

Wenatchee $244,900

215 Pear Lane Open Sun. 2-4 Beautifully updated rambler with 3 bedrooms, 1.75 baths. More than 20 value-added home improvements. One year home warranty. Text 701519 to 79564 for more info. Century 21 Exclusively Pam Wright 860-4487

$260,000 133 N. Marie Open Sun. 1:30-3 Spacious 4 bed, 2.75 bath home on large corner lot. 2 car garage. Directions: West on Fifth past Western, left on Marie. John L. Scott Wenatchee Darlene Garton 881-1600

Wenatchee $399,900

2025 Skyline Drive Open Sun. 12-2 A wonderful home! 4 beds which include 2 Master beds, 1 on the main level, 1 up stairs with large walk-in double headed shower. Incredible views of Castlerock. Custom pool, hot tub, waterfall. Directions: Off of #2 Canyon Rd. Take Private Drive. Premier One Properties Mae Hamilton 630-1104

East Wenatchee

$269,000 425 Lowe St. Open Sun. 2:30-4                                    Premier One Properties Steve Bishop 679-7004

$169,000

$269,500

$169,900

$269,900

4C S. Western Ave. Open Sun. 12:30-2 2854 sq. ft. rambler with 3 bed, 2 bath, updated kitchen, lots of character. Spacious .47 acres. Fenced yard, above ground pool surrounded by large deck system. Wonderful Location. Directions: Western and turn West on private drive at 4C. Premier One Properties Steve Bishop 679-7004

$197,900

$284,500 1918 Lion Place Open Sun. 11-12:45 NEW on the market. Stunning 5 bedroom, 3 bath, 3 car garage on .36 acre with City VIEW. Hot tub, too! Directions: Top north corner of Westerns Heights. Herring & Associates Lisa Day 884-4326

$218,500 912 NE 12th Open Sun. 2:45-4 New central heat/air + roof, 4 bedroom, 3 bath, 2 car + RV in fenced, irrigated, VIEW home. Directions: Eastmont to the top of 12th on right. Herring & Associates Lisa Day 884-4326

$285,000

$219,900 14 S. Roland Open Sun 1-2:30

2510 Day Drive Open Sun. 12:30-2:30 Incredibly well kept home with lots of space! Many updates including a new roof and new windows throughout. Boat and RV parking on side of garage with full RV hookup!! Directions: West on 5th, right on Surry, left on Lester, right on Day Drive. Premier One Properties Steven Schwind 421-1150

1200 Washington St. Open Sun. 12-1 4 bed, 3.5 bath, 2-story + basement. 3,000+ sq. ft., updated kitchen, new addition master suite. Detached studio with power and heat. Fully fenced backyard, beautiful landscaping, 2-car garage. Directions: West on Washington from Miller. Laura Mounter Real Estate & Co. Rachel Goetz 860-7830

$324,900-$389,900 2116-2109 Yarrow Rd. Open Sun. 12-2 Rambler with bonus room, new 2-story. Built by: Huber & Bollinger high quality, ready to move in! Directions: Above Western off Fifth. Century 21 Exclusively Betsy Loomis 669-6464

758 8th St. NE Open Sun. 11:30-1:30                                      Century 21 Exclusively Pam Wright 860-4487

711 DeGage NE Open Sun. 12-2                                           Coldwell Banker LaVigne Laurie Carlson 393-9010 603 North Larch Open Sun. 1-3                                           Peter Nolen Properties, LLC Perry Baber 668-0448

USDA Financing Available. Well maintained 3 bed, 2 bath Rambler! Updated 2,100+ sq. ft. Family room, big master bed. Park-like yard, Koi pond, deck, above ground pool. Garage/shop, RV parking. Directions: Up Grant Rd., right on S. Roland. Windermere Real Estate/NCW Jerry Paine 860-7696

$224,900

2030 Sunset Hwy Open Sun. 10-12 Cozy home on 1.83 acres. Great views, irrigation water. Directions: Sunset Hwy., left on 19th, right on Bates. Follow signs. John L. Scott Wenatchee Sharon Shaw 670-5459

East Wenatchee $229,000

620 Linda Court Open Sun. 1-2:30 Perfect 3 bedroom, 2.5 bath, 2 car + RV on fenced, corner, irrigated property. Beautifully updated. Directions: Eastmont to 10th, right on Fairmont. Its the cute one! Herring & Associates Lisa Day 884-4326

$239,900

2191 Inglewood Dr. Open Sun. 12-2                                          Century 21 Exclusively Shirley Hulligan 670-3464

$239,900 95 NE 17th Open Sun. 1-3 2-story home with 4 bedrooms, 2.5 baths on .50 acres. Crisp, clean & private. Directions: North on Baker to 17th. John L. Scott Wenatchee Karie Rolen 860-2700 $255,000 1013 Harrison Court Open Sun. 1-3 New on the Market and won t last long! This 5 bedroom + craft room, 2.75 bath, 3,360 sq. ft. 1998 built home is sparkling clean and close to schools and has views! Directions: East on 10th, left on Harrison Court. Laura Mounter Real Estate & Co. Pam Cooke 679-4625 Buying or Selling Property? Look for the “R” symbol, it’s the mark of a Real Professional.

$259,900 2178 Blackstone Court Open Sun. 12:30-2 New construction, fantastic oversized master suite. Granite throughout, superior materials and workmanship. 4 bedroom, 2.5 bath is ready to move in. Let this be your new home! Directions: N. Baker, right on 21st, left Blackstone Court. Century 21 Exclusively Gene Palmquist 393-9820 Starting at $309,950

Rivervue Open Sat. & Sun. 12-4 Model homes from 1965-2814 Sq. Ft. Impressive designs, ramblers, two story, daylights, complete with landscaping. Starting at $309,950. Directions: East up Grant Rd., right on Kentucky, left on 4th St., right on Lyle. Corner of SE 8th and Lyle. Premier One Properties Sharon Moreland 670-0075

Cashmere $292,500 5483 Mt. Stuart Drive Open Sun. 12:30-2:30 Great new listing with extras! Directions: Hwy. 2 to Apple Annie s, right on Eels Rd., left at Y , right on Mt. Stuart. John L. Scott Wenatchee Carol Kavanuagh 670-6762

For additional information on these Open Houses visit: www.ncwaropenhouses.com 2 PM  2 1 . UN S N E OP 2025 Skyline Drive, Wenatchee “Not So Big” family home with all the ammenities. Inside: 4 beds, 3.5 baths, stainless steel, slate, tile. Outside: 4 car garage, outdoor BBQ area, pool, hot tub, waterfall. Location, Location! See it all on Sunday!

$399,900

Mae Hamilton 509-888-3950

Premier One Properties

Office: 509-662-2100 135 N. Mission Wenatchee See Our Open Houses at www.century21exclusively.com $159,900 Play where you live! Fishing, swimming, tennis, volleyball, playground, clubhouse, RV parking w/hookups for guests, near golf course. USDA zero-down inancing area. Immaculate home with newer carpets, vinyl, and paint. Covered patio and private, spacious backyard.

Dawn Wiser 509-387-1827

2110 IONE ST.  WENATCHEE Up Fifth St. ., Left on Jennings and left on Ione. Well cared for Country home on a large lot minutes from downtown. This is a gardener’s dream. Large upscale green house on the property, also a sun room/green house connected to the home. Large living room and a huge family room. Covered back deck and a cute sitting deck on back side of the home. Wonderful views! Yard has plenty of room for a pool and or sport court!

$149,000 Cute 3 bedroom, 2 bath home with beautiful lowers, fruit trees and a playhouse. New paint, carpet and tile. Good sense home.

$349,900

Andrea Lutes 509-670-4553

Gary Mullen 509-679-4132 Premier One Properties

$299,900 This large manufactured home is situated on 2.14 acres with pasture and barn. 3rd bedroom converted to den. Formal dining room, living room plus family room.

Lee Hildebrand 509-669-7601 $142,900 Price Reduction!

RESERVE YOUR SPACE TODAY! Contact: Tom

Nees

509-860-2091 nees@wenatcheeworld.com

Talk To Tom About OPEN HOUSES • AGENT FINDER FEATURED LISTINGS • REALTOR SPOTLIGHT • REALTOR’S CORNER

1520 square feet 3 bedroom manufactured home on over 1/2 acre. Large family room. 2 car garage detached. Irrigation water

$615,000........ East Wenatchee Stunning country estate on nine irrigated level acres! Elegant 3,262 sq ft rambler. Three huge shops, employee quarters, very private covered patio. Call for a tour! MLS# 699475 Julie Jessup 670-6637

DeAnn Compton 509-670-9966 $324,900 Price Reduction!

New Huber Homes rambler with ‘’bonus room’’ that frames Castlerock views. Raised ireplace, handmade, solid cherry wood cabinetry with European hinges, soft close and full wood drawers with dove tailed detailing. Rich travertine looring highlights entry hallways & kitchen areas.

Betsy Loomis 509-669-6464

Each office independently owned. Equal housing opportunity.

473 N.E. 5TH STREET- EAST WENATCHEE This house is a must see. Large Tri-Level home with an in-ground Larson Pool anda huge shop! All this sitting on a beautifully landscaped.60 of an acre lot. Plenty of room with a large family room and2nd kitchen that is also plumbed and wired for a hot tub. $289,900. Please Contact GARY MULLEN @ 679-4132 For more information. MLS# 697460

303 S. MARY AVE.- EAST WENATCHEE

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Wonderful four bedroom home with new carpet, new paint, formal living and family room, large kitchen with Jen Air range. Very nice master with five piece master bath. Home backs up to a beautiful greenbelt. $209,900. Please Contact JEFF BENSON @ 630-6859 for more information. MLS# 697943

2020 N.E. 1ST STREET- EAST WENATCHEE PRIVATE location comes with This 4 bedroom home with 2 baths...........OPEN living with just over 1600 sq. ft. Private .47 acre lot.........wonderful VIEWS, GREAT outdoor living space.........Double garage.....and YES tons of parking. Don’t WAIT call today! $229,900. Please Contact JUNE STANAWAY @ 699-1321 for more information.

www.premierone.biz 925 Fifth St., Wenatchee • 662-3491

$599,000............. Leavenworth Custom Crafted Log Home! Vaulted ceilings, 2,896 sq ft, river rock fireplace, gourmet kitchen, wrap around deck, Jacuzzi, 30’x60’ garage/workshop. 1 acre, garden shop, bunkhouse, Wenatchee River access. MLS# 697334 Momi Palmeri 433-2211

$515,000........ East Wenatchee 2 COMPLETE LIVING LEVELS! Main: 3 bedrooms, 2.5 baths, kitchen, living, family, laundry, 3-car garage! Lower: private entry, 2 bedrooms, bath, kitchen, living, family, laundry, 1.5 car garage! MLS# 699373 Jody Campbell 630-0722

$162,000............... Wenatchee Well-located 3 bedroom rambler offers living, dining, and family rooms! Wood floors, storage, private back yard, close to schools, hospital, and bus line. Perfect for 1st time Home Buyers or investment. MLS# 699131 Jody Campbell 630-0722

$154,900............Olalla Canyon Cute 3 Bedroom 2 Bath Country Home on 2 Acres! Gorgeous mountain views and abundant privacy. Newer carpet and updated vinyl windows throughout. Horse Property Potential! MLS# 699000 Jacque Hurst 860-3963 Windermere Real Estate / NCW

662-7184 • 1-800-841-0055 www.windermerewenatchee.com

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