Posted on January 1st, 2010 by Carlo Capomazza
Last year, lenders often took three to six months to respond to a short-sale offer. If the response was no, the buyer was out looking for another home after having wasted a lot of time. Many buyers who expected short sales to be good deals shied away from them altogether after having a few bad experiences.
Filed under: Business Services, Listing Presentation, Real Estate Market, Short Sale | No Comments »
Posted on November 7th, 2009 by Carlo Capomazza
It’s official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
Filed under: Current Events, Real Estate Market, Tax Issues, VRN | No Comments »
Posted on August 16th, 2009 by Carlo Capomazza
First-time home buyers had better get a move on if they hope to take advantage of the $8,000 federal tax credit. The window of opportunity is closing rapidly.
Filed under: Current Events, Foreclosure, LA Area, Money-Saving, Mortgage, Real Estate Market, Tax Issues | No Comments »
Posted on May 31st, 2009 by Carlo Capomazza
Image via Wikipedia DEAR BENNY: My partner and I have a very serious decision to make quite soon. Can unmarried, co-titled adults on a property, having fulfilled the 24-out-of-60-month occupancy requirement each be eligible for the $250,000 exemption? –Pamela DEAR PAMELA: The answer is yes. So long as both of your are on title, and [...]
Filed under: Legal Advice in Common Scenarios, Money-Saving, Real Estate Market, Tax Issues | No Comments »
Posted on May 29th, 2009 by Carlo Capomazza
Image via Wikipedia DEAR BENNY: I was told by a prominent accountant that there is a loophole in the law that states that you can be exempt from paying capital gains (if you are in a home less than the two-year period) if there are “unforeseen circumstances” involved. Are you aware of this? Can you [...]
Filed under: Legal Advice in Common Scenarios, Tax Issues | No Comments »
Posted on May 29th, 2009 by Carlo Capomazza
DEAR BENNY: My question is about the two-year residence requirement for tax exemption when selling your main residence. We owned the bare land for years and built a home on it in 2006. We actually moved out of our rental and into the home on Nov. 6, 2006, and by Dec. 31 the home was [...]
Filed under: Legal Advice in Common Scenarios, Tax Issues | No Comments »
Posted on May 7th, 2009 by Carlo Capomazza
Instead of making buyers wait until they receive their tax refunds, some states have created bridge-loan programs that advance purchasers the money they need for their closings. Reporting from Washington — For the housing market, it’s the equivalent of financial alchemy, and it’s hot: Turning the $8,000 federal home-purchase tax credit, which normally isn’t spendable [...]
Filed under: Credit, Current Events, Finance, Money-Saving, Mortgage, Real Estate Market, Tax Issues | No Comments »
