Extraordinary real estate services for buyers and sellers
Ten years ago hardly anyone had heard of a short sale. Now, since the real estate bubble burst, "short sale" is almost a household word here in the Los Angeles area. The current situation is the result of several converging factors. First, when the bubble burst, homeowners who purchased when the market was rising or had reach its peak, lost value. That might not have mattered if two other factors hadn't come into play at the same … [Read more...]
Most Los Angeles locals are familiar with Barnsdall Art Park in Hollywood. The park is home to Frank Lloyd Wright’s Hollyhock house, weekly Farmer’s Markets and a variety of activities throughout the year. I was at Barnsdall Park myself last Saturday enjoying Taste of the Eastside, with great food and libations from a variety of local restaurants and vendors for the benefit of the Rose Scharlin School. If you missed the fun, watch for … [Read more...]
…get started on a short sale now. When payments are overdue it can be tempting to simply wait it out and live payment-free for a few months until the bank gets around to foreclosing. However, that's a poor idea in terms of your financial future. Three very good reasons to avoid foreclosure and take steps toward a short sale today: 1. Credit, and your ability to purchase another home A foreclosure will stay on your credit report for ten … [Read more...]
When Congress passed the Mortgage Tax Debt Relief Act in January of 2008 they created a "tax safety net" for underwater homeowners who were either foreclosed upon or who sold their homes as short sales. This act removed the tax consequences of having mortgage debt "forgiven" either through foreclosure or a short sale. Until then, any debt that a mortgage holder wrote off was subject to Federal Tax as "1099 Income." The act provided a … [Read more...]
Have you determined what features your new home absolutely must have? Often, buyers approach the home search without a clear idea of what they're looking for. They think "they'll know it when they see it" so spend a lot of time viewing homes that just won't do. Others have a long list of "wants" and become frustrated because no one home offers all of them. Budget constraints also play a part. If the sky is the limit, you may be able to … [Read more...]
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