The Mortgage Debt Relief Act of 2007 is set to expire!!

The window is closing rapidly on one of the most important tax-relief provisions enacted by Congress during the housing crisis to help financially strapped homeowners. Time is running out to Short Sale your house. Although the 2007 law that allows taxpayers to exclude from income the amount of debt that is forgiven or canceled by their lenders doesn’t expire until Dec. 31, it’s likely to take every bit of the coming months to…

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It happens every year. Agents tell their sellers that they should wait until after the holidays to put their homes on the market. They say no one is looking during December so don't bother. Translation: Agent wants much needed and deserved time off during the holidays, or seller has a lot of family coming and does not want people traipsing through their home with all of the activity going on.

Other side of the equation: Very busy…

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There have been some recent numbers and percentages being released concerning different polls and surveys the National Association of Realtors has conducted.  These numbers work to paint a solid picture of what buyers really do care about in terms of their agent and how they are represented.

From the start you can say with certainty that people are not concerned about how…

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Interesting that they were last minute listings here in the Palm Springs, CA area.  One in North La Quinta and the other in West Indio..both had Sale Dates set of approx. 21 days out.  Both Sellers had been denied Loan Mods and were at wits end and OVER the banks!

Chase has always been tough for me,…

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Here I am in beautiful West Vancouver, BC.  I was here last year with clients/friends, but in the Northern Vancouver area.  Both are gorgeous.  As I did last summer, I am experiencing the other side of the Palm Springs, Calif. real estate reality.

No Short Sales!

Strange, but true.  The Banks here are regulated,therefore, no unregulated run up of property value..just a steady, gradual rise.  Now, the Vancouver market appears to be blazing along.  In fact, at a…

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North Carolina is quickly becoming one the nations leading places to live and Huntersville, NC is up at the top!  Huntersville is located about 10 miles from Charlotte, so driving into the city is a simple, short drive.  Getting to the Speedway is also a snap for all the NASCAR fans out there and is conveniently located where taking a weekend getaway to the…

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You know you will love this:

 

http://www.huliq.com/3257/sweet-justice-main-street-homeowner-forecloses-bank-america

 

B of A foreclosed on a guy that paid CASH for his home......the guy TRIED to get it straight with B of A, they ignored him (can anyone here relate to being ignored by B of A)????

 

He took them to court, WON, was ignored…

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Got a GMAC short sale approved for a Chandler Home owner  but requested copies of real estates turns out GMAC will not pay commission to a licensed buyer representing him/her self  also no resale for 12 months (no flip ) short sale was nulled and void pending approval by diffident department in loss mit, so everything must be disclose to bank from the start in order to avoid delay of closing, Crazy right maybe not they what to make sure agents are not locking the best deals for their self so… Continue

 

Homebuyer Tax Relief Bill Passes Legislature on last day of 2010 Session MAR-supported legislation to allow foreclosed properties to retain their principal residence exemption for a period of up to 3 years has passed both the House and Senate, and is expected to be signed by the Governor in the coming days.

Senate Bill 77 provides for much needed Principal Residence status and tax relief to purchasers of bank-owned properties after the May 1st filing…

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Being a Destin and 30A FL Short Sale Buyer's Agent is my Niche 

Destin and 30A Short Sales

 

 

Destin and Santa Rosa Beach…

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I just like to share with you this article about What the House bill is doing to force Banks to speed up the process of Short Sales. It's a great idea but are they able to pass this so that the process won't take so long for Homeowners and for Buyers. I sure do hope so. Someone has to do something..... http://House Bill Would Force Lenders to Decide on Short Sales in 45…

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Short Sale , Deed in Lieu, Loan Modification, Foreclosure, HAMP, HAFA in California and what they mean to you.

Under the HAFA program you have the option of doing a Short Sale or Deed in Lieu. According to current FHA guidelines you can buy another home 2 years after the short sale. The lenders are required to give you at least 120 days to market the home and obtain an offer. The lender does not have to give you more time and you are…

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The person who negotiates with a lender on behalf of a homeowner needs a license, either under NRS 645 or NRS 645F. In the case of a real estate licensee who maintains a license under NRS 645, that licensee must be part of a real estate transaction with the homeowner. Any other person - even an unlicensed assistant in the brokerage office - who negotiates with the lender would fall under NRS 645F, and needs a license from the Mortgage Lending…

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Short Sales reduce numbers of strategic defaults..

Since beginning my short sale career when this mess in the Coachella Valley, CA took hold years ago, it has been my mantra that the Lenders do NOT want to be truthful with their shareholders regarding true values of their housing assets. Now, I am seeing this very idea in various media outlets. I still believe…

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Short Sales in the Inland Empire; Price Points are rising.. I have been watching the numbers, walking the homes, studying the comps and exactly what I felt would happen this year is indeed happening. The high end golf course communities and custom homes are seeing Short Sales and REO's. This is a new phenomenoa for my area of the Inland Empire..Palm Springs, Palm Desert, La…

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Distressed Properties: Listing Short Sales: Mindsets and The Short Sale Process w/Melissa Polce

Wednesday, April 28, 2010

1:00 PM to 3:30 PM EDT

Training Room, Cornelius



Chapters 5 & 6 from the Distressed Properties Handbook:



Listing Short Sales course materials will be covered.



You will learn:

* Know lenders' and Asset Managers mindsets and motivation: Understand where the ultimate sellers are coming from--why they do what they do and… Continue

Ann Arbor Foreclosures Lower than the National Rate, but Delinquency Rates Increase.



Many sellers ask me should we sell now or wait until the market comes back? I answer by telling them two things.



* Why are they selling?

* How do any of us know when the market is coming back?



According to recent data from First… Continue

recently had a short sale contract on one of my listings in Mary Esther, Florida, where the seller had a VA (Veterans Administration) home loan. A VA short sale is called an "Offer in Compromise". The offer price was $120,000, which I thought was reasonable given the condition of the property. Wells Fargo, the short sale lender, ordered an appraisal. Not just any appraisal, but a VA appraisal, called a " Notice of Value" or NOV.



The seller's short sale VA appraisal came back at… Continue

The Emerald Coast of Florida has a high military population with both active duty and retired air force personnel. Eglin Air Force Base is located in Fort Walton Beach, and Hurlburt Field is in Navarre, Florida. Duke Field and NAS Whiting Field are nearby. We will be seeing an increase in short sales for GI borrowers when they must relocate during their PCS moves (permanent change of…

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