Educational Articles 
Here are some articles written by other real estate professionals that I would like to share with you.
There are currently 8 blog entries related to this category.
Short Sale Debt Cancellation Set to Go Away
Wednesday, April 11th, 2012 at 1:25pm. 665 Views, 0 Comments.
Originally, when you did a short sale you were taxed on the amount that you were forgiven by the lender. This was a serious downside to doing a short sale because it could leave you with a large tax bill. For example, if you bought a house for $500k, still owe $450k and it's now worth $250k in the current market then doing a short sale means that you would be forgiven $200k by the lender (assuming it sold for 250k) The IRS looks at the forgiven $200k as "Imputable" income which is subject to normal tax rates. But in 2007 when short sales really took off, Congress passed a provision that allowed homeowners to exclude forgiven debt on their income taxes. This was much needed, as short sales have been and continue to be a huge part of the market and will be…
New Carbon Monoxide Detector Law for California
Wednesday, August 10th, 2011 at 12:30pm. 63750 Views, 1 Comments.
There is a new Health and Safety code section (17926 (a)) which relates to the installation of Carbon Monoxide detector devices inside the home. This applies to all single family homes from July 1, 2011. Condominiums and Townhomes have until Jan 1, 2013 to comply.
So if you are a considering selling your home anytime soon, you should be aware that by law you need to have the detectors installed. The law says that the devices should be installed "outside of each separate sleeping area in the immediate vicinity of the bedroom(s) in dwelling units and on every level including basements within which fuel-fired appliances are installed and in dwelling units that have attached garages".
CountryWide Must Re-Pay 450,000 Home Buyers
Tuesday, July 26th, 2011 at 12:54pm. 912 Views, 2 Comments.
I came across an interesting article forwarded to me by a fellow Oakland Realtor. Apparently the FTC is making Contrywide home loans send checks to over 450,000 home buyers who were overcharged for services and never knew about it. Of course Countrywide was purchased by Bank of America after the mortage meltdown, so B of A will be the one to pay the bill of $108 million.
Will The Feds Buy All The Bad Mortgages? Maybe Not...
Monday, November 17th, 2008 at 10:51am. 740 Views, 0 Comments.
On Monday, November 10, the government provided a record bailout of a private company with a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership.
On Wednesday, Treasury Secretary Henry Paulson said that buying up troubled mortgage assets “is not the most effective way” to use government funding. Purchasing these assets was the cornerstone of the initial financial rescue plan, known as the Troubled Asset Relief Program or TARP. Going forward, some of the money saved from not buying mortgage assets will be used to shore up the market for credit-card receivables, auto loans and student loans, according to Paulson.
The Labor Department reported Thursday that…
Why Buy A Home?
Friday, August 3rd, 2007 at 12:49pm. 764 Views, 0 Comments.
When entering the home market, you are making an investment in your future. Real estate has always been one of the most reliable areas of investment and this trend has held true to this day. In fact, real estate has consistently been one of the highest profit investment areas while other areas have languished. One of the main reasons for this is the constant growth of the real estate sector. Homes appreciate on a yearly basis, with an average of approximately 5% a year. Taken into consideration the instability of traditional investments such as the stock market, real estate provides a consist ant return on your initial investment.
Once you have purchased a home, you can start to reap the rewards. One of the most notable of these is a constant monthly…
The Truth About Mold
Friday, August 3rd, 2007 at 12:39pm. 759 Views, 0 Comments.
One of the most prevalent concerns on today's home market is the presence of mold in homes and condos. As many of us already know, mold can cause significant damage to a house and also has many negative health aspects. In order to better understand the growing mold problem, let's have a closer look at mold itself. Mold is a naturally occurring fungi that develops in dark and moist areas on organic materials. In regards to a home this is most likely drywall, flooring or support beams and other carbon-based products. Mold usually indicates the presence of some type of moisture leak within the structure of the home, although this is not always the case. Mold reproduces by sending out spores, microscopic in size and nearly undetectable, that thrive on…
Investing In Rental Properties
Friday, August 3rd, 2007 at 12:26pm. 706 Views, 0 Comments.
If you are seeking an investment with great ROI then investing in a rental property might be the project that you have been looking for. Like any investment, rental property ownership requires a lot of research and some soul searching.
The first thing that you may want to decide is if you are prepared to be a landlord. Being a landlord can be a trying experience, especially if you end up with bad tenants. Will you be able to evict someone if they are damaging or neglecting the property or not paying their rent? If you feel that you may not be able to do this, then consider looking for another form of investment. If you think that you are suited to be a landlord then the next logical step would be to begin looking at homes in your chosen area. Also…
Why You Should Choose A Realtor
Friday, August 3rd, 2007 at 12:00pm. 747 Views, 0 Comments.
Consider this: if you needed work done on your teeth, would you go to a dentist or do it yourself? The same theory applies to real estate. The art of selling a home is something that takes years to perfect. There are so many aspects of home sales that the average buyers and sellers are unaware of. Also there are many aspects of the process that are only easily available to a Realtor. The actual process of selling a home is very time consuming and right about now, the seller has many more important things to consider, such as the impending move.
Realtors spend years learning the art of selling and how to interpret the real estate market. They can offer you insight and information that only comes from years of experience. Realtors are also experts on…
The Oakland Real Estate Market is HOT
I'm happy to say, that there is definitely a significant increase in activity compared to this time last year. Multiple offer... Add Comment Read MoreShort Sale Debt Cancellation Set to Go Away
Originally, when you did a short sale you were taxed on the amount that you were forgiven by the lender. This was a seri... 13Comments Read MoreChanges To FHA Mortgage Insurance Premium
The Federal Housing Administration recently announced an increase in the upfront Mortgage Insurance Premium. Mortgage insuran... 4Comments Read More
