Great news from a letter I just received…
As we anticipated, C.A.R. today received a letter from the California Franchise Tax Board (FTB), obtained by the State Board of Equalization, clarifying that California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a short sale.
Tag: short sale expert
It is Now Legal to Short Sale Your Home, Lease it Back, and then Buy it Later at Today’s Low Price!!
People can now short sale their homes, lease them back and purchase them at today’s prices later!
Until recently, many banks would not allow a seller to remain in a property as a renter after they completed a short sale and none would allow an agreement that would arrange up front for the seller to potentially buy back the home at the cheaper price.
Now, becase of Supplemental Directive 11-02 March 30, 2011, those two things are legally possible if the seller/borrower qualifies and their bank agrees!
You have to work with a specially certified agent in order to have a chance of taking advantage of this program. Robin Watson-Bird is a Fresh Start Certified Agent and can assist you with the HAFA Leaseback Program! Call her today at 925-577-8692 for a free consultation.
It is Now Legal to Short Sale Your Home, Lease it Back, and then Buy it Later at Today's Low Price!!
People can now short sale their homes, lease them back and purchase them at today’s prices later!
Until recently, many banks would not allow a seller to remain in a property as a renter after they completed a short sale and none would allow an agreement that would arrange up front for the seller to potentially buy back the home at the cheaper price.
Now, becase of Supplemental Directive 11-02 March 30, 2011, those two things are legally possible if the seller/borrower qualifies and their bank agrees!
You have to work with a specially certified agent in order to have a chance of taking advantage of this program. Robin Watson-Bird is a Fresh Start Certified Agent and can assist you with the HAFA Leaseback Program! Call her today at 925-577-8692 for a free consultation.
Seeking a Career in Real Estate at a High Tech Real Estate Company?
Seeking a career in Real Estate? New Agent Training Cohort at Realty World-No Pressure Realty in Livermore only has 4 positions left for its up-coming new agent training cohort designed to help agents get their businesses up & running & make the most of the up-coming Spring and Summer home buying and selling rush. If you are considering joining an office or making an office change, visit http://nopressurerealty.com/agent-careers/ and contact me today.
Experienced agents are always welcome to apply for a position with us. They may also sit in on the new agent trainings if they like as well. We also offer a lot of online and in person advanced training in high and low tech methodologies that work to help even the most seasoned agents grow their businesses even more.
Just a couple of the great benefits of becoming a part of Realty World-No Pressure Realty is that we offer in house short sale processing and Transaction Point transaction coordination services so agents can spend their time getting more business and making more money rather than shuffling paperwork and calling banks! Contact us today to find out more!
Livermore Real Estate Market Update–Probably have not hit bottom yet
Livermore home prices are not increasing. The first half of 2010 had increases in home prices, but there has been a steady decline in home values since the second half of 2010. Home values are now at Sept. 2009 and 2003 values. Struggling upside down homeowners may need to modify their loan or short sale since the option of waiting for home prices to increase so they can do a regular sale is probably not going to be an option anytime soon. Robin Watson-Bird specializes in short sales and is happy to give free consultations to homeowners in Livermore, Alameda County, Contra Costa County, and parts of San Joaquin, Santa Clara, Solano and other counties.
Buying a Home in the Bay Area after doing a Short Sale in Livermore, the Tri-Valley, East Bay Area & California
Buying a home after completing a short sale is not impossible! Depending upon the type of short sale you completed, whether or not you have additional properties that are upside down/under water, your credit rating, and the amount of downpayment you have, you may be able to purchase a home right away or need to wait 2-5 years after completing the short sale.
Buying a Home in the Bay Area after doing a Short Sale in Livermore, the Tri-Valley, East Bay Area & California
Buying a home after completing a short sale is not impossible! Depending upon the type of short sale you completed, whether or not you have additional properties that are upside down/under water, your credit rating, and the amount of downpayment you have, you may be able to purchase a home right away or need to wait 2-5 years after completing the short sale.