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Monthly Archives: January 2013

Fannie Mae over pricing homes by 20 percent Sign the petition

 specialize in short sales and about 6 months ago all I my Fannie Mae short sales (Even the approved ones) were coming back with values way above market price.  I found that this has been going on across the nation.

Fannie Mae admits to demanding 20% more than market value for short sale properties – forcing homeowners into foreclosure. They then offer the properties to the public on their website at 20% above market value and will give a federally sanctioned Fannie Mae bad loan for this price if the buyer “takes advantage” of not paying for an appraisal. These are the type of manipulations which destroyed the property market. As a federal bailout, Fannie Mae should be forced to act ethically and responsibly or they should be shut down.


Sign the Petition to stop Fannie Mae from over pricing properties


Top Real Estate agents for December 2012

Keller Williams December Top Agents For December productions.

Rain Silverhawk

Patty Muhlhauser

Janice Harvey

Danielle Watson

Penny Carver

Stan and Julie Groves

Greg Link

Dennis Spencer

Dan H and Janet Stevens

Jason Walker

Barbar Swehosky

Jaye Mounsey

John Thomas Sinclair

Paul Ertel

Josh Adams

Brandon Marchand

Debra McMann

Tom and Julie Nolan

Aimee Gerone

Pete Puga

Mike Threadgill



Rain Silverhawk has moved to Keller Williams

Greetings Friends,

It brings me great sadness to announce to you that Sandpoint Realty has closed their doors and I have decided to make Keller Williams Sandpoint my new home. I have been following their growth, networking and marketing endeavors for some time and have been very impressed with them on a whole.

The good news for you as sellers is that we will start from scratch with new marketing plans for your property. I will be putting alot of energy into new promotion of your listing, new flyers, virtual tours, videos, postcards will be made for you. A email campaign will be sent to buyers who have an interest in your property. Your property will be entered in as a new listing in both Multiple Listing Systems (MLS) and in the Keller Williams networking system. All of my listings will be viewed by the office and we will have a whole new set of people who will be thinking of your property when they have clients. While you have been included in about 100 websites before, you will get even more exposure with your property appearing on almost 900 websites. WOW! Even I am impressed.

For my buyers we have even more ways to see properties and save your favorites. A good staff to answer phones when I am out in the field. I will be able to stay in touch with you even better than before and meet your needs even quicker.

I look forward to trying some of the innovative marketing plans from this new company and will look at this as a bright new beginning for us all.

Lets make 2013 a great year!
Rain Silverhawk

For more information please see my websites at

or contact me at

http://www.lakeandhomes.com for listings
Rain Silverhawk Realtor
Keller Williams  120 South 2nd  Ave. |  Sandpoint, ID. 83864
Phone (208)  610-0011  FAX 800-760-1936

Mortgage debt relief act extended

For those of you in a facing a foreclosure, principle reduction,   deed-in-lieu of foreclosure,  or short sale. on your home, the debt forgiveness act of 2007 has been extended for another year.

Under the IRS tax code forgiven debt was treated as income subject to federal income tax.  Homeowners who get their mortgage debt forgiven through a short sale, deed-in-lieu or loan modification will not be taxed on the debt forgiven on the amount forgiven up to $2,000,000. 

On Jan. 1 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff.” The bill was signed into law by President Barack Obama on Jan. 2.  Below is a summary of real estate related provisions in the bill:

Real Estate Tax Extenders

•       Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014

•       Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012

•       15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012

•       10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012 Permanent Repeal of Pease Limitations for 99% of Taxpayers Under the agreement so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers.  These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000.  These thresholds have been increased and are indexed for inflation and will rise over time.  Under the formula, the amount of adjusted gross income above the threshold is multiplied by 3 percent.

That amount is then used to reduce the total value of the filer’s itemized deductions.  The total amount of reduction cannot exceed 80 percent of the filer’s itemized deductions.

These limits were first enacted in 1990 (named for the Ohio Congressman Don Pease who came up with the idea) and continued throughout the Clinton years.  They were gradually phased out as a result of the 2001 tax cuts and were completely eliminated in 2010-2012.  Had we gone over the fiscal cliff, Pease limitations would have been reinstituted on all filers starting at $174,450 of adjusted gross income.

Capital Gains

Capital Gains rate stays at 15 percent for those in the top rate of $400,000 (individual) and $450,000 (joint) return.  After that, any gains above those amounts will be taxed at 20 percent.

The $250,000/$500,000 exclusion for sale of principal residence remains in place.

Estate Tax

The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax.

After that the rate will be 40 percent, up from 35 percent.  The exemption amounts are indexed for inflation.

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