California and federal tax laws currently exempting debt cancellation from income tax consequences are set to expire Dec. 31, 2012. Congress may act before the end of this year but after the elections are over. For debt on a qualified principal residence up to $2,000,000 federal law provides tax exemption for debt forgiven. California provides […]
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In an ideal world sellers want to receive a non-contingent offer. But sometimes there will be an appraisal contingency. It’s not a bad sign so don’t panic! Although you cannot change the market value of your home, as the seller, you can help the appraisal run smoothly. First make sure the appraiser can walk through
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When interest rates are low, there are significant advantages for both buying and selling real estate. A buyer has a double advantage from the low interest rate: monthly payments are lower and equity builds quicker even with the lower payment. During the first 5 years of a 30 year mortgage, equity builds nearly twice as
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Vanguard’s “Economic Week in Review” for September 21, 2012 has the headline “Real estate rebound may be for real”. The article states sales of previously owned homes jumped 7.8%. The national median price rose to $187,400 in August, the first time prices climbed six straight months since December 2005 to May 2006. http://www.vanguard.com/us/insights/article/economic-week-review-09212012 As buyers
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Should I consider making repairs to my house so it can be in an agreeable condition for the buyer? How much should I spend on repairs? I am upfront with my sellers when it comes to selling their home as-is. I like to get the estimates right away so they know how much repairs will
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