Archive for May 2012
Another Way to Avoid Federal Taxation on Short Sales
Are you thinking about short selling your home, but worry about possible tax consequences if it does not close by December 31 (the end of homeowner tax relief under the Mortgage Forgiveness Debt Relief Act)? You may be in luck, even if the Act is not extended. The Mortgage Forgiveness Debt Relief Act (MFDRA), which…
Read MoreDon’t Let an Appraisal Ruin Your Sale
There has been a lot of talk lately in the real estate industry about inaccurate appraisals resulting in cancelled home sales. Appraisals have definitely been more challenging, as lenders and their underwriters place strict requirements on the use of comparable properties and of what exactly that can include. Both sellers and buyers have a few…
Read MoreReal Estate News REcap
Will Housing Money be Spent on Housing? The national mortgage settlement with some of the biggest U.S. Banks (from the the robo-signing scandal last year) is supposed to provide many states with money to help with housing issues. California, set to receive a $410 million settlement, could create more programs to help distressed homeowners stay…
Read MoreIs San Diego a Seller’s Market?
Things are really heating up in the real estate market in San Diego. Encountering multiple offer situations is not uncommon these days, especially with properties that are priced well and are in good condition. So, is it a seller’s market? To answer the question we need to divide the market into attached and detached homes.…
Read MoreWhen Can I Repurchase?
So many sellers ask me when they can repurchase after a short sale, foreclosure or bankruptcy. Following is a great synopsis of when a seller can repurchase after a distressed sale or bankruptcy, based on the type of loan/bankruptcy: FHA Loan: Chapter 7:Â Â Â Â Â Â Â Â Â Â Â Â Â 2 yrs. Chapter 13:Â Â Â Â Â Â Â Â Â Â Â 2 yrs. Foreclosure:Â Â Â Â Â Â Â Â Â 3 yrs. Short Sale:Â Â Â Â Â Â Â Â Â Â Â Â 3…
Read MoreShould We Report Unethical Real Estate Agents?
Unethical people stink. We can find them in every profession, including real estate. I certainly have seen my share of such types and I know many other agents who have stories of their own. The frustrating fact is that many agents do not report ethical violations, and these people continue to work in such a…
Read MoreThe Latest Real Estate Technology
If you love real estate technology – whether you are in the industry, or whether you are a buyer or seller -Â click here to read my latest blog post on MoneyPress. I discuss some of the newer apps, websites, tools and technology that make our lives a little bit easier. In our fast-paced world,…
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