Newsletter

May 2008

IN THIS ISSUE

1. The Short Sale Option

2. Highest and Lowest States for Taxes

3. Friends and Family
Benefits

4. Quote of the Month

4. Are you headed to Fordyce?

Do you have
a candidate
considering a
move from
state to state?

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The Short Sale Option

The housing market has everyone in a panic. Homeowners trying to sell their houses are competing with foreclosures, short sales, and aggressive sellers making their home potentially worth a lot less. This makes the job of getting a candidate to consider a relocation much harder.

With so many candidates upside down on equity and considering relocation - is a short sale the right answer? Does it have any better or worse affect on the housing market? Will your candidate be able to accept the position and move?

Some important points to consider…

• Short sale properties typically sell for a higher amount than a property that might be foreclosed on.
• The borrower must first obtain the lender’s approval of a short sale by indicating a financial hardship of not being able to make the payments.
• With a short sale, individuals should expect a hit on their credit rating of 80 to 100 points. Although a negative factor, this is still better than the 250 to 280 point hit on a foreclosure.
• Homeowners going through a short sale can repair their credit easier and re-purchase much quicker than a homeowner who goes through a foreclosure.
• On a short sale, recent legislation forgives the homeowner’s obligation to pay tax on the debt that a lender may forgive.

For more information on the real estate and relocation industries, contact Recruiter Relocation today.

Friends and Family
Benefits

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Quote of the Month

Highest and Lowest
States for Taxes

Candidates moving state to state are concerned about cost of living, and taxes are a large part of that concern. Take a look at the highest and lowest when considering taxes.

State, local and federal taxes (combination):

Income tax varies greatly between states, and there are several with no income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.

Additionally, several states have no sales tax: Alaska, Montana, Delaware, New Hampshire and Oregon.

Regarding gasoline prices, it is important to note that states also assess a gasoline tax on top of the federal gas tax of
18.4 cents per gallon. The highest state for gas tax is
California at 45.5 cents per gallon and the lowest is Alaska
at 8 cents per gallon.

Contact Recruiter Relocation for online resources on this topic to see where your candidate’s state fits into the scale.

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Food For Thought...

Energy and persistence conquer all things.

Any fool can criticize, condemn and complain and most fools do.

You've got to stand for something or you will fall for anything.

Choice not chance determines ones destiny.

The best way to predict the future is to create it.

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