The legendary investor has been buying up real-estate brokerages around the country as he bets on a housing turnaround. Now, he is partnering with Brookfield Asset Management, a Canadian real-estate investor, to more than double the size of his brokerage business. “I am confident that these partners will deliver value to the residential real estate industry, and I am pleased to have Berkshire Hathaway be a part of the new brand.”  Read more

Despite the recent passage of Proposition 30, the California budget crises remains largely unresolved. Prop 30 revenues–additional sales taxes and income taxes–are estimated to be $8 billion for FY2013, producing the first surplus in the general fund budget in 7 years.  Read more about Energy Resources and the California Budget HERE.

Realtors should know these Top 10 things when it comes to the 3.8% tax that’s part of health care reform (see the entire list HERE).  We like #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.” (via The National Association of Realtors)