Tips For Sellers Category
Need Help From Foreclosure Prevention Company?
August 27th, 2010
By Brad Garbutt
Fannie Mae launched a website this month to assist underwater borrowersincluding those in Redding/Shasta County. The site offers advice on steps to take to avoid foreclosure as well as directing borrowers to legitimate companies that provide foreclosure-prevention services. This is in response to a proliferation of companies claiming to offer foreclosure prevention services. In many cases, these [...]
Leave a Comment »
Need To Refinance An Underwater Loan?
August 13th, 2010
By Brad Garbutt
FHA just announced a new loan program for homeowners that owe more than the current market value for their home. In less than a month, the FHA Short Refinance program will enable some borrowers who owe more than the current market value of their home to qualify for a new FHA insued mortgage. Here are some important [...]
Leave a Comment »
Redding Home Prices Slip Again?
August 9th, 2010
By Brad Garbutt
After 3 quarters of relative stability, Redding home prices lost about $8/sq ft in July. Blame an onslaughtof bank-owned properties (REO’s) for the decline. The second quarter of 2010 saw a slight increase to $126.54/sq ft from $125.34 in the first quarter 2010. The last quarter of 2009 pegged the average cost per square foot at [...]
Leave a Comment »
Redding Real Estate Prices Stabilizing?
June 7th, 2010
By Brad Garbutt
According to one Redding appraiser who tracks average home prices, prices are slowly ticking upward. The low point since the bubble burst in 2006 was March with 91 home sales with an average sales price of $203,830 or $121.08 per square foot. May saw 99 home sales averaging $214,352 or $124.6 per square foot. It would not [...]
Leave a Comment »
Bill To Provide Borrowers Deficiency Liability Protections
May 24th, 2010
By Brad Garbutt
Many homeowners are not aware of a loophole that allows banks to pursue certain borrowers for any cash loss they suffer as a result of a short sale or foreclosure. The existing law, which was passed in the 1930’s, protects homeowners from deficiency liability if the loan was used to purchase the home. The problem arises when [...]
Leave a Comment »
Safe Harbor Law Makes Vacation Home Purchase Attractive
May 20th, 2010
By Brad Garbutt
The IRS has finally set ground rules for those that use a tax deferred 1031 exchange to purchase a vacation rental home that later becomes a primary or second residence. In the past, the IRS would penalize those that did this because it violated the tax deferment rules 1031 exchanges were designed to address. Many Americans found themselves [...]
Leave a Comment »
Luxury Home Loans See Rise In Delinquencies
April 1st, 2010
By Brad Garbutt
Jumbo loans, as we call them in real estate jargon, are showing a steady uptick in the number of delinquencies for the 33rd consecutive month according to a recent article in The Wall Street Journal. Depending on what part of California you reside, jumbo loans could be loan amounts exceeding $417,000 or $729,750 for high-cost areas. February [...]
Leave a Comment »
Short Sale Could Lead To Big Tax Bill
March 29th, 2010
By Brad Garbutt
The IRS warns homeowners underwater to study the law regarding debt forgiveness before deciding which course of action to take to get out from underneath an over-encumbered property. The Mortgage Forgiveness Debt Relief Act of 2007 details who will be exempt from paying income taxes on debts forgiven by lenders. Some property owners that successfully sold [...]
Leave a Comment »
Blogroll
Company Information
- Our Offices
- Meet The Team
- Relocation
- Financing
- Preferred Partners
- Home Rewards
- GMAC Insurance
- Elegant Homes
- Career Opportunities
Categories
- Foreclosures
- Miscellaneous
- Real Estate Articles
- Shasta County
- Success in Real Estate
- Tips For Sellers
