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Move in ready home in Roseville, CA Overview Maps Photos Market Stats $239,000 Single Family Home Main Features 3 Bedrooms 2 Bathrooms Interior: 1,343 sqft Lot: 0.13 acre(s) Location 890 FiFteen Mile Drive Roseville, CA 95678 USA To get updates on open home dates and other property events, please click the “Like” button below: Frank Valente (916) 257-0893 email@example.com http://frankvalente.com Listed by: Frank Valente/RE MAX GOld Our recent listings Move in ready home in Roseville, CA Clean 5 bedroom 4 bath in Rocklin Rocklin HUD Home Lincoln Crossings-HUD Home HUD home in prime Roseville location Subscribe to our listing feed Nearby properties for saleRead More
Clean 5 bedroom 4 bath in Rocklin CA for Sale Overview Maps Photos Market Stats $269,900 Single Family Home Main Features 5 Bedrooms 3 Bathrooms 1 Partial Bathroom 1 Unit Interior: 2,677 sqft Lot: 14,375 sqft Location 3590 Farron Street Rocklin, CA 95677 USA To get updates on open home dates and other property events, please click the “Like” button below: Our recent listings Clean 5 bedroom 4 bath in Rocklin Rocklin HUD Home Lincoln Crossings-HUD Home HUD home in prime Roseville location HUD Home in Roseville Subscribe to our listing feed Nearby properties for saleRead More
Short Sale Debt Foregiveness 2013? A key tax provision set to expire at the end of the year could trip up the Obama administration’s push to have banks forgive mortgage debt more often for borrowers who are underwater. Five years ago, Congress passed a law, the Mortgage Forgiveness Debt Relief Act, that would prevent households from having to treating certain types of forgiven mortgage debt as taxable income. If the provision expires as scheduled on Dec. 31, it could throw a wrench not only into efforts to trim loan balances for underwater borrowers, but also for short sales, where banks allow homeowners to sell their properties at a loss. How does the relief provision work? Without the measure, a homeowner who owes $300,000 on his mortgage and sells his house for $250,000 would owe taxes on the $50,000 balance that’s forgiven, because it would be considered income by the Internal Revenue Service. This could take away some of the incentive for homeowners to seek a short sale. Will the relief provision get extended? Will there be Short Sale Debt Foregiveness for 2013? Earlier this month, the Senate Finance Committee passed a one-year extension, as part of a broader tax package,…Read More
PLACER COUNTY REAL ESTATE UPDATE! Median prices for homes sold in the Sacramento region rose by double digits in October compared with the same month a year before which was recently reported by DataQuick. For Sacramento and Placer counties, it was the largest year-over-year price increase since the height of the housing bubble in late 2005, according to data supplied by the San Diego-based DataQuick. Sacramento’s median home price rose by more than 16 percent from $155,000 in October 2011 to $180,000 in October 2012. Placer County’s median home price rose by nearly 19 percent during the same period, going from $252,500 in October 2011 to $300,000 last month, DataQuick said. But Why? What is causing this change to Placer county real estate? This increase in median prices is simply an example of the basic laws of Supply and Demand. At this time we have a very low inventory of homes on the market. Actually we have less than a 45 day supply of homes. This means that if no other home came on the market, then our region would be out of re-sale homes in less than 45 days! If you have a 3-6 month supply you have a…Read More
Penryn California Real estate is a mix of smaller country homes from the 1800’s to larger executive style homes on large parcels and large horse properties. Today there were on 11 active homes on the market in Penryn priced from 279K at 7372 Orchard to 859K at 8081 Boulder Creek. That property has 3371 sq ft and is on 5.2 areas. In the last 6 months 16 properties have sold in Penryn California from 150K to 875K. The average price per sq ft has been 195.99 $/sq ft for the last 6 months. For more information on Penryn California Real Estate call Frank at 916-257-0893 or email Frank@frankvalente.comRead More
Short Sale Debt Forgiveness Information Here are a couple common questions and answers on Short Sale Debt Forgiveness What is Cancellation of Debt? If you borrow money from a commercial lender and the lender later cancels or forgives the debt, in other words Short Sale Debt Forgiveness, you may have to include the cancelled amount in income for tax purposes, depending on the circumstances. When you borrowed the money you were not required to include the loan proceeds in income because you had an obligation to repay the lender. When that obligation is forgiven, the amount you received as loan proceeds is normally reportable as income because you no longer have an obligation to repay. Here’s a very simplified example. You borrow $10,000 and default on the loan after paying back $2,000. If the lender is unable to collect the remaining debt from you, there is a cancellation of debt of $8,000, which generally is taxable income to you. Is Cancellation of Debt income always taxable? Not always. There are some exceptions. The most common situations when cancellation of debt income is not taxable involve: Qualified principal residence indebtedness: Bankruptcy: Debts discharged through bankruptcy are not considered taxable income. Insolvency: If…Read More
Short Sale Debt Forgiveness…????? Are you considering doing a short sale? Have you exhausted the possibilities of a loan modification? One major concern for most homeowners is the tax consequences of doing a Short Sale. By definition if you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition. This law expires DECEMBER 31, 2012!!!! What will happen to Short Sale Debt Forgiveness? The good news is that the law is expected to be extended. However, I think all consumers should be informed of…Read More
Home prices have risen!!!! This is truly historic numbers for our real estate housing report. In Sacramento county we have seen a 10% price increase in home values compared to August 2010 (over 12 months ago). This rise is due to the extremely low inventory of homes available to buyers. In Sacramento, Placer and El Dorado counties, there is now less than a 30 day supply of resale homes. In a normal or balanced market, we look to have a 6 month supply of homes for sale. Real Estate Housing Report!! We have also seen a change in the make up of the Real estate market for areas of Placer and Sacramento counties. The percentage of non distressed sales is up from 40% of the resale market to now 50% of the real estate housing market. In other words, at least half the sales are not short sales and not foreclosures! At least 50% of the sales, are back to traditional real estate sales, ie, one family sells to another family!!!! Where is the inventory? As the economy stumbles its way slowly towards a recovery, the real estate market remains challenged with upside down loans, lawsuits, and uncertainly as to what’s coming. One surprising factor is the…Read More
Lowest Inventory of Homes for Sale Sacrament including Placer County since the year 1980! Currently we have less than a 1 month supply of resale homes in the county of Placer!! Our region has not seen this low inventory of homes for sale since the 1980’s. Any home that is correctly priced is receiving multiple offers. Buyers are willing to pay THOUSANDS of dollars over asking price!!! Three questions come to mind? Why is the inventory so low? Will this low inventory last, and finally what will be the effect on prices? Solutions to consider with extreme low inventory of homes: The easy question to answer is the effect on prices. Housing subscribes to the basic economic principle of supply and demand. As inventory shrinks, demand increases. As demand increases prices will go up! In the past 6 months, I have seen values increase 3-5%. That rate if increases is very significant, but may not last. Simply because this low inventory is very artificial and controlled. There truly is a “shadow inventory” of homes that have not yet hit the market. I do NOT expect a wave, but as the major banks, Fannie, and Freddie process homeowners through the loan…Read More
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“Frank helped me find a perfect house for me and my family and it was a very simple, easy process. He followed up often, we talked on the phone or via email. He made sure that the underwriter was doing everything on time so we could move in on time.”
“They were super helpful and walked me through purchasing my first home and were always available, always responsive which made what could have been a really intimidating process very easy, pain-free, and smooth. I asked him a ton of really dumb questions because as a first-time buyer I didn’t know what I didn’t know and rather than pointing me to the answer he went the extra mile and got all of the detailed information for me.”
“We were very happy with it. They advised us that we were asking too much and so we lowered it which they didn’t think was enough yet, but we wanted to try it. So we tried it for several months and it didn’t work so we lowered it again and got a bite. They were honest with us and Mary was very personable and she showed us many homes. We are in our eighties and we had some restrictions at the time so they were always very careful to see that they didn’t take me any place that I couldn’t get around. They have become very dear friends.”
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