So when the market TOOK OFF one of the thresholds it first encountered was the fabled $400,000 median price barrier–that was BACK in 2003. So TEN years later here we are again at another threshold? Or peak? Our median kept thundering along hitting a record $630,000 at the height of the bubble market in 2007. [...]
Fed: 96K Foreclosure Review Checks to Be Sent to Underpaid Borrowers By: Esther Cho DSNews.com 05/09/2013
About 96,000 borrowers who received a check under the foreclosure review settlement should expect a second payment since their checks were for a lesser amount than what they should have received, the Federal Reserve announced in a statement.
ne of the main issues currently in Sacramento of major concern to Norman is the “Debt Relief” extension NOT yet ratified by the legislators. On the national level the “Debt-Relief” extension was extended by Congress to the end of 2013. However California has YET to extend this valuable aid for “underwater” homeowners facing serious tax consequences when selling their home for LESS than what is owed. The difference between the sales price and loan amount, usually a negative number, is considered “Debt Relief” and is treated as ordinary income. Norman noted that a homeowner selling a home for $300,000 with a $400,000 loan would have “debt-relief” of $100,000. In California this would be subject to income tax as ordinary INCOME for the year 2013. [...]
Join the “Kelly-Norman Team” at Keller Williams Realty on our weekly radio show as we keep you up-to-date on the Sonoma County,California real estate marketplace. Below is a synopsis of our monthly $1,000,000 report and the Luxury Home market for Sonoma County, California.
So many properties to choose from, vineyards, Equestrian ranches, weekend estates, we [...]
Here in Sonoma County the largest demographic are folks over 55. With an “aging” population the frequency of useage for “Reverse Mortgages” is on the rise. We’ve brought in expert Jill Gromm to give us a mini seminar on the various types of Reverse Mortgages available and WHICH one might be RIGHT for you!
Sonoma County, California Home Sellers AND buyers–get out of the Appraisers way! Let me start by saying there are many really good appraisers. Unfortunately, not all home appraisers are created equal. Some make a genuine effort and others are just in a hurry to get this appraisal done and move on to the next one. [...]
Whether moving across town, across the country…or across the world, the level of stress can be the same. Your moving company should ease that stress…not add to it. So, it’s important to pick the right one. Redwood moving is a local, family owned company with a great reputation , a super clean facility, and a [...]
Bay Area posts 32 percent jump in home prices….
The key word in this article is “median” home prices. This is not 32% equity growth….although, we are experiencing equity growthas well.. (Click on the headline above to see the PD article) In the lower (under $400,000 especially) price points, Mike and I are seeing multiple [...]
Come this January 1st a whole new era in the foreclosure/distressed Market Place will come alive–the “Homeowner’s Bill of Rights”, most every state will have one, goes into effect. Some of the more dramatic highlights:
Tenants with valid leases written PRIOR to the foreclosure can have them REMAIN in effect. Tenant leases a home for [...]