These are all the Blogs posted in April, 2008.
Thursday, April 3, 2008
The 2 out of 5 rule
Often GreatWest GMAC Real Estate professionals will be asked by home buyers if home sellers age 55 or older were still allowed a once-in-a-lifetime tax exemption of up to $125,000 in sale profit. That is no longer true. On May 7, 1997, the tax law on home sales changed.
If you live or dwell in the house for two of the five years before you sell, the IRS won’t collect tax on sale profit of up to $250,000 if you’re single or $500,000 if you and your spouse file a joint return.
Currently the law rewards people who sell frequently. In this current market, homeowners who ... Read more
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Wednesday, April 9, 2008
A Couple Questions & Answers Regarding “Short Sales”
As homeowners grapple with declining home values, and in some instances, mortgage payments that have dramatically increased, GreatWest GMAC Real Estate professionals are increasingly be queried about Short Sales.
Often a seller will become concerned because they are unable to make house payments, but do still have an ability to make all or part payment of the negative equity. They may hope to also hope to preserve their credit score. They wonder if a short sale will be right for them.
The answer is, probably no. Sometimes if a seller is able to pay back all or part of th... Read more
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Wednesday, April 16, 2008
What Do I Need to Disclose
Often, when GreatWest GMAC Real Estate professionals sit down with a Seller, the Seller will ask – “What do I need to disclose, when selling my house?”
Or – they will be more specific, “Must I disclose the real reason I’m selling my home is because of noisy and obnoxious neighbors?”
One Seller questioned a GreatWest GMAC Real Estate professional, about a ghost or two, which were “residing” in the home, and wanted to know whether this needed to be disclosed.
In California, we are a long way from a couple decades ago, when Residential Purchase Agreements were one pag... Read more
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Monday, April 21, 2008
Latest Sales Statistics by Zipcode
Here are the latest sales statistics by zip code, for Sacramento and surrounding areas. These statistics represent the month of March 2008.... Read more
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Cell Phone Law – Effective July 1st 2008
Cell Phone Law – Effective July 1st 2008
QUESTIONS?
Wireless Telephone Laws FAQs Two new laws dealing with the use of wireless telephones while driving go into effect July 1, 2008. Below is a list of Frequently Asked Questions concerning these new laws:
Q: When do the new wireless telephone laws take effect?
A: The new laws take effect July 1, 2008
Q: What is the difference between the two laws?
A: The first prohibits all drivers from using a handheld wireless telephone while operating a motor vehicle. (Vehicle Code (VC§23123). Motorists 18 and ove... Read more
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Sunday, April 27, 2008
GMAC Real Estate to Provide Agents with Enterprise-Level Marketing Solutions
RISMEDIA, April 22, 2008-GMAC Real Estate announced the creation of Market Advantage, a private-label marketing tool and print fulfillment service built in conjunction with Denver based SharperAgent and the world’s premier print and related services provider, RR Donnelley.
According to the company, Market Advantage combines SharperAgent’s eCustomer Relationship Manager (eCRM) and RR Donnelley’s extensive print fulfillment network. The result is a custom-built GMAC Real Estate Market Advantage Suite designed to provide real estate professionals with the industry’s most innovative marke... Read more
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Wednesday, April 30, 2008
How to Sell Your Home in a Market Laden With Foreclosures
Most home sellers in Northern California, understand this isn’t a joyous time to be marketing property. Foreclosure numbers continue to rise, and are causing distress for sellers not in the same financial crisis as some homeowners, who are either trying to weather dramatically increased mortgage payments, while finding themselves owing more on their mortgage than the house is now worth. Still others face the specter of foreclosure.
“Pricing on residential real estate is collaterally controlled presently, by the incidence of foreclosure rampant in many of the country’s neighborhoods,... Read more
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