Tax Relief is Expiring

The MTDFRA ( Mortgage Tax Debt Foregiveness Relief Act) and many state counterparts will expire at the end of 2012. That means that if the transaction closes after that date the homeowner will need to pay taxes on the amount forgiven.  This is HUGE! If you are having any trouble paying your mortgage and see ANY chance that you may not be able to pay (even if you’ve already modified your loan) short sell the house now.  Everything is perfect for you right now. Go back to renting for a little while then buy again in 2 years! The HAFA short sale program has several benefits and you might qualify for a HAFA short sale which allows the seller up to $3,000 to assist in closing costs.

Check out the HAFA short sale guidelines now and contact your local Realtor  ( in San Diego that is me Alan Schmitt). Email or call me and I will refer you to an incredible short sale expert in your area.

Check out the HAFA short sale guidelines now and contact your local Realtor  ( in San Diego that is me Alan Schmitt). Email or call me and I will refer you to an incredible short sale expert in your area.

The short sale process can take 4 to 5 months and with the deadline closing in, I expect a deluge of short sales hitting the system within the next 6 months. Have yours completed and be well on your way to your next purchase!  Don’t get caught with your pants down.  Act Today.

The short sale process can take 4 to 5 months and with the deadline closing in, I expect a deluge of short sales hitting the system within the next 6 months. Have yours completed and be well on your way to your next purchase!  Don’t get caught with your pants down.  Act Today.

Check out short sale information at www.shortsaledignity.com

A free book for you at www.canishortsell.com

The mortgage companies now have  (finally) standard processes for handling Short Sales. The entire process now takes about 45 days.  You have to have somewhat of a hardship and not just a desire to get out of an upside down property.

For some, the change in the economic environment might be enough if living on the edge.

If you are in San Diego and think a short sale is for you, call me, we can easily determine the right path for you.

A few KEY points:

The effect on your credit is minor!

You do have to move out of your house or condo.

Fighting Foreclosure

The new HAFA short sale provides $3,000 to help with relocation.

If a San Diego short sale is for you, I am a HAFA certified agent and am happy to assist you.  CALL ME! (619) 985-6528.  If you are anywhere else, I can still help.  I will refer you to the top Certified Residential Specialist  (CRS) in your area.

Here is a link to my free book…..Fighting Foreclosure.

Come back then. In the meantime, please check out my website and get my free book Fighting Foreclosure at www.shortsaledignity.com and for the most advanced state-of-the-art San Diego property search which includes the entire San Diego MLS head straight for the At Home In San Diego website:

www.AtHomeInSanDiego.com

We do expect San Diego prices to start rising soon as the inventory is low enough to create an upward pressure on price.

Want to buy a house in West Virginia?

One thing is for sure, 2012 and 2013 will be very interesting years for the housing market. There are quite a few variables including interest rates, how lenders will handle REO’s and short sales, and what the government will do.

One thing is for sure right now though…the interest rates are the lowest in history and prices are the lowest in 5 years. Chances are prices will not be this low again in our lifetimes.

How can you take advantage? Use any investment money to purchase real estate. Buy a condo and rent it out. When you calculate the numbers, you can easily get a positive cash flow with as little as 20% down.

If you want to take advantage of this opportunity of a lifetime in San Diego, call me at 619.985.6528 or visit the best property search in San Diego at AtHomeInSanDiego.com

One last thing for now….the current economic times have been difficult for many. If you are having mortgage challenges, don’t ignore them. They don’t go away by themselves. Check out my website at ShortSaleDignity.com .  There you will find my free book  Fighting Foreclosure. I can assist in San Diego but can also refer you to the best Certified Residential Specialist and short sale professional in your area.

CoreLogic August Home Price Index (year-over-year change)

Locally, the median price for all sales – including resale homes, resale condos and new homes – was $315,000 in September, down 1.6 percent from August and down 4.7 percent from a year ago. The new-homes sector was the only area that saw a year-over-year price gain, rising from $439,250 to $515,000, or 17.2 percent.
The county recorded 3,084 sales in September, down 5.1 percent from August but up 0.5 percent from the same time last year. The only sector that saw a positive year-over-year gain in sales last month was resale homes, rising 6 percent.
As a region, there were 18,149 total sales, counting Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in September. That figure is down 7.7 percent from August and up 0.3 percent from a year ago.
Demand is staying moderate because of affordability. The interest rates remain at or near all-time lows. In addition, prices are still at or near all time lows. What a combo, you would think demand would be through the roof. However, loans are still difficult to get and many people feel economic woes and are putting off any kind of “large purchase”.
Historical data from the data company show sales have fallen on average 8.3 percent between those months since 1988, when the real estate data company began tracking those numbers.
Meanwhile, the median price for total homes sold last month was $280,000, up 0.4 percent month-to-month but down 5.2 percent from a year ago.

Those who have the means who buy now will be looking back in 5 years saying “Thank god I bought those properties when I did!” The rest will be looking back and saying “If only I had….”

If you are lucky enough to be looking in San Diego, call me at 619.985.6528 or send me an email. And…if you are having any kind of mortgage difficulty, visit ShortSaleDignity.com.

Please feel free to leave any comments — thanks!

Many Banks have taken 3 years to get to the point where they can now process short sales in an efficient and timely manner. At the beginning it was a nightmare. We (agents) would have to fax in a 60 page files multiple times because the banks “couldn’t locate”  the files. We would have to call in 30 times just to get a hold of a clerical who didn’t know the answers to anything!

But….now the time is right. The banks have streamlined the process and now have dedicated departments to assist Realtors and customers. We can now get a short sale done in as little as 5  weeks. However, keep in mind you should allow 90 days at a minimm in case there are “issues”.

If you are having any issues with your mortgage, get help now.

The mortgage companies are truly prepared to assist with many options and the government now has programs in place to help, too, such as the HAFA short sale program .

The process is now very smooth. There is little pain and the effect on credit has been minimal. But…you do have to move out of the house  if you chose the short sale.

We’ve come a long way in helping the many, many Americans in need.  GET ALL THE ANSWERS!

Please visit my website at ShortSaledignity.com for a free Fighting Foreclosure guide

Feel free to comment!

And…by the way….If you are having even the slightest hint of mortgage problems,go get my free book,  Fighting Foreclosure.

I am a Certified Residential Specialist serving all of San Diego County in Southern California. Please contact me if you have any real estate questions at all. I can refer you to a Certified Residential Specialist and a short sale expert in your area.

The MTDFRA ( Mortgage Tax Debt Foregiveness Relief Act) and many state counterparts will expire at the end of 2012. That means that if the transaction closes after that date the homeowner will need to pay taxes on the amount forgiven.  This is HUGE! If you are having any trouble paying your mortgage and see ANY chance that you may not be able to pay (even if you’ve already modified your loan) short sell the house now.  Everything is perfect for you right now. Go back to renting for a little while then buy again in 2 years! The HAFA short sale program has several benefits and you might qualify for a HAFA short sale which allows the seller up to $3,000 to assist in closing costs. Check out the HAFA short sale guidelines now and contact your local Realtor  ( in San Diego that is me Alan Schmitt). Email or call me and I will refer you to an incredible short sale expert in your area.

The short sale process can take 4 to 5 months and with the deadline closing in, I expect a deluge of short sales hitting the system within the next 6 months. Have yours completed and be well on your way to your next purchase!  Don’t get caught with your pants down.  Act Today.

Check out short sale information at www.knowyouroptions-sd.com

That said, there are too many expert opinions right now so  you will hve to do your homework.

Many feel that San Diego is past the bottom , but on a real flat path for a year or two.  Most of the economists in San Diego talk about a real bright future but are uncertain when it will begin. Unemployment is holding the housing market back. There are many upside down mortgages in San Diego and nobody wants to sell at the current price level.

However, many rich people are coming over from Mexico to avoid the drug wars, there is really no more property on which to build in San Diego and , there is currently virtually no construction in the county. It appears San Diego is poised for price increases. Once the prices start to rise, and people begin to enter the sales market, the growth spurt will begin.  Over the next five years, my bet is we see growth of  between 25 and 40% (total…not oer year!). This will get us back to the levels of 2005 and 2006 by the end of 2016.

Properties are very affordable and interest rates have taken another little turn downward. Buy something now so in 10 years you won’t be saying ” if only I had”.

Feel free to call me at 619.985.6528

also – anyone in a little bit of mortgage trouble visit www.knowyouroptions-sd.com

Although inventory is not at killer highs, the market is still favoring buyers. The San Diego housing market is now seeing more and more anxious sellers who will go to great lengths to make a sale. As prices creep up, more ned more of those who have been waiting a few years to sell will put their homes on the market.It has been a long time since the number of homes listed reached the current level especially non REO’s and short sales.It has been even longer since sellers were willing to so much for a buyer and make the concessions they are making now. Prices seem to have leveled out or are on a slowly upward path in the San Diego market with some areas doing better than others. The correction appears to be finishing up and prices are expected to beginning rising at moderate levels shortly. No one knows how long this buyers market will last. But, there is very very little construction in San Diego county, and nobody’s making more land.

Mortgage rates are still near all-time lows. If you are thinking of buying but are putting it off to wait until prices start climbing, you may miss the best buyers market of the decade (or many decades). Owning the real estate in which you live has and always been and will always be the best investment that you can make.

Here is my main website to search the San Diego market and to contact me. Also if you or anyone you know is having mortgage problems, check out our website  for all your options.

If you do any internet marketing, please check out our blog at IncomeFaucet.com.

Today I am featuring Escala in Mission Valley. Want to know all about it? Visit Escala here!

Feel free to call at 619.985.6528. Thanks

Alan

I’ve attached a summary of where the acivity is in San Diego County.  Chula Vista,Spring Valley,Mira mesa, El Cajon, Lakeside, Santee, San marcos, Escondido, Oceanside are where you’ll find most of them. Here is the link to the report

This article was in Sign On San Diego and is a good read on foreclosures.  If you or anyone you know are having mortgage issues, send them over to http://www.knowyouroptions-sd.com .  We are short sale experts and will gladly review all of your options.