My husband tells me occasionally, YOU CANT POST THAT! This picture might be one of those. Never have I seen grass and weeds growing out of an indoor carpet! No photoshop here, this is actually growing in a distressed sale home in Livermore. Just when you think you’ve seen everything!
At the end of your rope and don't know what to do with a current mortgage that needs to be refinanced? Struggling with an ongoing loan modification that just doesn't seem to be headed in the right direction? We have answers for you. You and your friends can attend this complimentary short sale seminar at the LIvermore Library. My short sale negotiator will be present to answer all your important questions.
Please RSVP to this seminar today!
Thursday, February 21, 2013
6:30pm to 7:30pm
Livermore Civic Center Library
Conference Room B
1188 South Livermore Ave.
The now signed bill includes a provision to extend the Mortgage Forgiveness Debt Relief Act, which will for one more year exempt the taxation of mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale or loan modification (including any principal reduction). While debt relief has been extended at the federal level, the California exemption expired at the end of 2012, so forgiven mortgage debt is considered taxable state income for now.
Here are other housing-related provisions included in the federal law:
Good News for the New Year
Happy New Year! Besides it being a new year, what else is new and affects you?
“The “fiscal cliff bill” passed by Congress on January 1 included a provision to exclude borrowers from paying taxes on debt forgiven through a short sale, foreclosure, or loan modification. Known as the Mortgage Debt Relief Act of 2007, the act was scheduled to expire December 31, 2012, but received an extension for another year.”
Why is this important for you? Well, if you are a move-up Seller/Buyer, this means there will be additional short sale homes to purchase. Also, most importantly, If you are having difficulty maintaining a current mortgage, this means that the current laws in place to protect you from taxes and deficiency judgement will remain in place through 2013. If you are considering a short sale, consider it now. It takes about 6 months to complete from start to finish in most cases. For other insights on the real estate market please contact me. I’m always happy to hear from you and am eager to help. May this be the best year ever for you and your family!
Call me for more details. Natalie Swanson 925-580-9829
Please join me for a complimentary consultation on Wednesday, February 29th between 5:30 PM & 7:30 PM.
Come with your questions about the short sale process, foreclosure prevention, refinance, bankruptcy and credit restructuring. I can also provide you with a market analysis.
Come join me at my Livermore Bank Owned Property Tour on Saturday, February 25. First time homebuyers are welcome. You DO NOT need to be an investor to join us, although, investors are welcome. You will be met at my office briefly and then head out to see numerous bank owned properties available. Come personally to see some of the opportunities available in real estate. This a low-key event and you will be driving your own vehicle. Each participant will receive a special bonus incentive for attending. I will have financing information available. Come with your questions and curiosity.
Where: Prudential CA Realty 1790 First Street, Livermore
When: Saturday, February 25, 2012 10 AM – 12 PM
Contact me for more details: 925-580-9829 or Homes@NatalieSwanson.com
Clients often ask me if appraisers use distressed sales (short sales and foreclosures) as comparables when doing an appraisal on non-distressed properties. Last month, the Appraisal Institute issued a paper on the subject, and in it, explained the following:
“Foreclosures and short sales can provide important information for appraisers, who develop valuations based on market data and market forces.” This is especially true when the number of traditional sales is limited.
“An appraiser should not ignore foreclosure sales and short sales if consideration of such sales is necessary to develop a credible value opinion.”
And they explained the possible differences between short sales and foreclosures:
“A short sale … might have involved atypical seller motivations and so might not be an ideal comp…”
“A sale of a bank-owned property might have involved typical motivations, so the fact that it was a foreclosed property would not render it ineligible as a comp.”
The bottom line is that some will argue that distressed properties should not be used when appraising non-distressed properties. However, there is no longer any doubt that they will be.
If you are interested in purchasing a home or need information about your own Upcoming sale, I'm here to answer your questions.
Contact me for more information: 925-580-9829 or Homes@NatalieSwanson.com
Average price per square foot for Pleasanton CA was $302, a decrease of 78.6% compared to the same period last year. The median sales price for homes in Pleasanton CA for Oct 11 to Dec 11 was $581,000 based on 244 home sales. Compared to the same period one year ago, the median home sales price decreased 17%, or $118,672, and the number of home sales decreased 9.3%. There are currently 160 resale and new homes in Pleasanton on Trulia, including 13 open houses, as well as 179 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Pleasanton CA was $854,152 for the week ending Jan 25, which represents a decrease of 1.2%, or $10,247, compared to the prior week.
This is the only solid bank owned property in Livermore in this price range. The few other ones I previewed had mold and location problems. This home at 5361 Lilac has good curb appeal, a nice floorplan and lots of potential. In a market where we are lacking quality homes, this one shines on the brighter side. Come with a paint brush and cleaning supplies, but this is a home that buyers should consider in Livermore.
Interested in others? Visit my website: www.NatalieSwanason.Com. Click that tab and view. Email me for more details.