Tax Break For Underwater Home Owners Ends Soon Time is ticking to get a fresh start. According to recent data by CoreLogic©, a leading provider of information, analytics and business services, almost 1 in 4 homes with a mortgage is underwater. This number has continued to grow quarter over quarter as real estate values remain …
Category Archives: Selling
Are Lenders Getting Smarter About Short Sales?
Well maybe. 50 million American home owners have a mortgage on their homes. 10 million of those home owners are upside down or as some like to say, under water. 6.4 million of those home owners are delinquent! Does this mean a new wave of foreclosures? Probably not. The lenders have determined that short sales …
How Much Fixup to Sell?
I believe that you can get the most for your money by limiting the repairs to the fire damage and deferred maintenance. Forget updating the kitchen and bath. Keep the money in your pocket. In today’s market a home seller must compete with distressed properties; short sales and foreclosures. They are generally in need of …
Choosing a Listing Agent
I am not surprised to see different agents come up with different estimates of value, but there really shouldn’t be more than a 3-7% variable. A 20% differential you have described is definite cause for concern. Review each of the presentations. Are two of the presentations closer in value than the third one? Are the …
What About Tax On Short Sale Debt Relief?
The mortgage debt relief act is set to expire at the end of 2012.Prior to 2007 the IRS considered forgiven debt on ones primary residence as taxable income. For example, If you owed $100,000.00 on your residence and sold it short of the full amount owed; say for $80,000.00, the difference, $20,000.00 was considered taxable …
Should I Yank My Listing And Give It To An Agent Who Will Advertise?
I understand your disappointment with not seeing your home being advertised in the newspaper. But have you checked on the Internet? The internet has changed the way that the world does business. Even President Obama in his state of the union speech said that “Where there’s an Internet connection, there’s an opportunity for a new …
When the Escrow Fails Does the Deposit Go to the Seller?
What happens to the deposit when an escrow falls apart?
Do You Have to Be Behind in Your Payments to Get a Short Sale?
Getting behind in payments makes no sense if you want a short sale approved!
