This is a great article from the Los Angeles Times about the BofA and Countrywide merger. The most interesting point is that the CEO of BofA, Ken Lewis, thinks that the California real estate market has about another 20% drop in the not too future…I would have to agree. This is one of the first more » Read more »
The Shandrow Group’s Client for Life Program
Our clients get the royal treatment, with the Shandrow Group’s Client for Life Program. We provide you with the knowledge, comfort and security that you are receiving the best services possible…tailored to your life, your scheudle, and your needs.Through my involvement with the BNI Chapter Oceans of Opportunity you can rest assured that the vendor’s and more » Read more »
Glen and Mona Sams Talk About Mark Shandrow’s Ability to Sell Their House In a Down Market
[No Auto Start]ZG2Xw6ADZVc[/No Auto Start] I helped Glen and Mona Sams sell their home in Santa Ana and allow them to move into their retirement home in Murieta, Califrornia. They were able to take advantage of Proposition 13 to move their tax basis from one home to another, saving them thousands of dollars per year more » Read more »
Huntington Beach, California
Huntington Beach Huntington Beach, where California’s world-famous surf scene was born, is one of the Southland’s safest, most vibrant coastal villages. The Orange County Register recently named “Surf City USA†OC’s number one city to live in, while OC Parenting readers last year ranked it the county’s “best family beach.†Some 195,000 people call Huntington more » Read more »
Buy and Bail . . . A New Twist On ‘Just Walk Away’
Great article from the WSJ.com. Next month, Michelle Augustine plans to walk away from her four-bedroom house in a Sacramento, Calif., subdivision and let the property fall into foreclosure. But before doing so, she hopes to lock in the purchase of another home nearby. “I can find the same exact house as what I live in more » Read more »
What is a Short Sale?
With the increase in foreclosures lately you may have heard the term “short sale†and wondered what it was. A short sale is when the lender will accept less than the full amount due on a mortgage when a property is sold. Usually, the lender will accept the short sale to avoid the time and more » Read more »
Tax Breaks for Short Sales
In December, 2007, President Bush signed a new law giving tax breaks to homeowners who have mortgage debt forgiven called the Mortgage Forgiveness Debt Relief Act of 2007. Now, a taxpayer does not have to pay federal income tax on debt forgiven for a loan secured by a qualified principal residence. This new tax break more » Read more »
Q and A Fact Sheet from CAR on Short Sales
Short Sale Fact Sheet Information Provided by the California Association of Realtors (CAR) Introduction Increasingly, lenders are making loans in amounts that become too difficult for borrowers to repay. Some of these borrowers may not be able to fulfill their mortgage obligations. When a borrower is no longer in a position to make the mortgage more » Read more »
Tax Consequences of a Short Sale
I spoke with the LA Times staff reported Diane Wedner recently about the tax consequences of a short sale. Check out the full story here: click here for the full story. Seller may face tax and credit troubles in a short sale An owner can sell a house for less than its value and the more » Read more »
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