Need to Sell Your House Fast? Sell Via Auctions!!

 

We wanted to bring to your attention the newest marketing program that we can now offer our clients, HOME AUCTIONS. Home auctions are gaining popularity across the country as a fast and effective alternative to the traditional approach to marketing homes. Usually associated with the bulk bank owned property auctions that you see all of the time advertized on TV, we now can offer our clients the same broad and far reaching market tool that had been only available to the large wholesalers.

 

The National Association of Realtors estimates that as many as 35% of all home sales will be via the auction process in the near future. It is a very fast and cost effective method of marketing that should be considered as well as the traditional method of marketing homes for sale. Call us for details on how this may be a solution for you. We are not abandoning the traditional method of marketing, but wanted to add this approach as a possible alternative for you!

Did you know that Mortgage Rates have fallen?

If you would like to take advantage of the historically low home prices and want to put your money in real estate which ALWAYS goes up, now is the time to get

pre-approved for your loan. All sellers and bank owned homes are requiring formal pre-approval before reviewing your offer.

 

The market in Contra Costa County and Alameda is HIGHLY competitive among the homes that are priced low. Each home receives anywhere from 2 to 20 offers! You must be pre-approved to submit your offer and must be able to financially afford the home. Call us to be prepared with your pre-approval. Our mortgage consultants will tell you what price range you need to be looking in. See the below article regarding the recent decline in mortgage rates.

http://www.usatoday.com/money/economy/housing/2008-12-03-mortgage-applications_N.htm?csp=34

 

 

Do you need to sell your home and owe more than it is worth?

Many of our clients are in a Short-Sale situation. A "Short-Sale" occurs when the proceeds from the sale of your home fall short of the balance owned on your loan(s). You may have one, two or three loans. In a short-sale, the bank agrees to let you sell your home for less than the balance of these loan(s) due to financial hardships that have caused you to default on your mortgage payments.

 

There are several main benefits for doing a short-sale:

1) Show your mortgage as "paid in full" verses foreclosure—SAVE YOUR CREDIT

2) Have an expert on your side (our team) dealing with the lender verses letting your home go to foreclosure where there is no one there to help you.

3) Live in your home RENT FREE—the same as during the foreclosure process.

 

We specialize in Short-Sales. We can get a buyer for your home FAST and work with the lender quickly to get you approved for a short-sale and have the lender show "PAID in FULL" to avoid the damaging effects of a foreclosure on your credit. Call us today. We schedule short-sale listing consultations Monday-Friday 9am-5pm 925-808-9126

 

 

Did you short-sell or modify your loan in 2008?

Here is some good news for California homeowners who had all or part of their mortgage debt forgiven during 2008.

 

Under Senate Bill 1055, signed by the Governor in September, some provisions of the federal Mortgage Forgiveness Debt Relief Act of 2007 have been extended to Californians – with a few notable differences. The legislation adds a section to the Revenue and Taxation code.

 

Under the new section 17144.5, borrowers will not pay state taxes when lenders agree to a short sale, short payoff, loan modification or loan refinance that forgives up to $1 million.  Under the federal law, forgiven mortgage debt is excluded from taxable income from January 1, 2007 through December 31, 2009. Under the California law, however, the exclusion from state taxes period has been modified to January 1, 2007 through December 31, 2008.

 

In a nod to the state’s dire budget shortfall, beginning January 1, 2009 borrowers in California will be required to claim the forgiven debt as taxable ordinary income (not capital gains income) for the year in which the debt is forgiven.

 

The law was authored by Sen. Michael Machado of the 5th Senate District, which cover some of the areas hardest hit by the foreclosure crisis, including most of San Joaquin, Solano and Yolo Counties as well as a portion of Elk Grove in Sacramento County.

 

 Homeowners are encouraged to consult a professional tax and legal advisor to determine laws and ramifications pertaining to their own personal situation.

 

Sources:

www.sen.CA.gov

LoanSafe.org

http://dist05.casen.govoffice.com/