2013 Realtor San Diego CA News: Mortgage Debt Relief Act Update

realtor-san-diego-2013

Happy New 2013 MRG Nation! 

It’s early morning on New Years Day ….and The Best Realtor San Diego CA Team Never Rest!!

 
We received word from our very reliable industry contact that early this morning (while many were popping bottles of Champagne), the Senate passed the extension of the Mortgage Debt Relief Act as part of their plan to avert the fiscal cliff. It’s expected that Congress will ratify this measure when they meet today at noon.

What does this mean? Homeowners in process of a short sale or who are considering a short sale may have the opportunity to do so TAX FREE should this be ratified.

The Magnus Realty Group Team is passionate about Real Estate Market Economics and we constantly have our ear to the ground.

San Diego Real Estate Brokers Jill Eastman and Ernie Pallares are busily strategizing for the upcoming year and will be releasing their Real Estate Predictions for the new year – this has made Magnus one of the early pioneer short sale realtors in San Diego.

Don’t miss it.

Become a fan and stay up to date on Real Estate Matters that affect you.

Until next time Nation…

The MRG Team

 

What is a short sale?

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WHAT EXACTLY IS A SHORT SALE?

Put simply, a short sale is the sale of a home in which the amount owed to the lender(s) is more than the amount that the home can be sold for. Instead of the homeowner having to bring in money to complete the sale, the sale is completed through negotiations with the existing lender(s). The lender(s) agree to accept less than the full amount owed to satisfy the debt and allow it to be paid off “short.”

Put even more simply, a short sale is a real estate transaction that requires an approval from the lender – period. Read more »

Put and END To Mundane Thanksgiving!

“Aaaahh…Turkey Day! About as American a Tradition can get.”

 

MUNDANE? YES! But it doesn’t have to be. Here’s how You can break the monotony…

 

It’s been years of freshly baked pumpkin pie for me.

Perfectly Smashed Potatoes (WARNING: we have a designated family “potato smasher” for this – PLEASE, smash potatoes responsibly), Gravy, Sweet Tamales…

(TAMALES?)

(COME AGAIN??)

Yes. Maybe not 100% traditional, but it works.

Let’s see, stuffing, and then…

The Aromatic Rock Star of the night positions itself next to me.

A perfectly browned Turkey – makings its 1st appearance. Granted, conversation is pretty general leading up to and during dinner…BUT – once we’re done stuffing ourselves, the real magic happens.

You see, at the conclusion of dinner, each person at our table takes a turn to stand up (Apple Cider glass in hand) and have a Gratitude Moment.

Not a rushed moment, not a fake moment. I’m talking about a Real Moment where we share WHAT and WHO we are grateful for – including any crummy setbacks during the year. Sort of like a trust fall that we each take. The more honest and authentic we get to be, the bigger the risk.

By the time each person’s done, something funny happens. For that brief moment, the busyness of lifeis gone. The walls have come down because we know each others challenges…our triumphs…and even the people we miss that are no longer at the table.

For me, I get to share with my family, friends and guests (some I may not have seen in a while) how grateful I am that they are a part of my life.

Who said Tradition had to be mundane?

That’s my tradition.

What’s yours?

Warm Wishes,

Ernie Pallares

Real Estate Broker, Strategist, Human Being

Realtor San Diego Corner: Can You Short Sale Rental Property?

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Short Sale San Diego Realtor Confesses

 

With national elections behind us and the Mortgage Forgiveness Debt Relief Act “appearing” to come to a close (stay tuned here), Team MRG now explores a large segment of the “pondering short sale” homeowner population that either

A) Has never lived in the home  they’d like to short sale

OR

B) Has lived in the home at one time.

We answer this question a lot. In fact, about 1/3 of our clients are landlords.

The answer on whether you can short sale your rental property is? Read more »

Realtor San Diego Confession: Short Sale Tax Loophole Ends 12/31/12

Greetings MRG Nation! Your all too enthusiastic Realtor San Diego Team is back once again to answer more of your Real Estate Questions.

Keep Sending Them  – We’ll Keep Answering Them.


Countdown To 12/31/12 – Say it’s not so!

Last time we answered the question many current and prior homeowners face – that is, “How Soon Can I Buy a Home After a Short Sale.” Today we’ll cover some more common after effects of a short sale such as:“What are the tax consequences if I do a short sale – how does that piece work? Is it like forgiven debt? Do I receive a 1099?” Read more »