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To: Steve Lokness who wrote (26469)	3/29/2005 12:32:59 PM
From: benwood	Respond to of 116555

For most people, the 1.28% excise tax is simply added to the other expenses of flipping. If you have the house for 1 year in Seattle, you'll pay about 1.0% in property tax, 6% in mortgage expenses (less any rental equivalents), plus 2-6% selling expenses, so maybe 12% overall expenses rather than 11%. It isn't as big a damper when you look at the big picture. Of course, during the manic blow-off stage where you want to flip every 3 months, or 3 weeks, or 3 hours, it starts to become more prominent.