Have a Great Leap Year!!

 An EXTRA day. FREE. No charge, no penalty.

In Maricopa County, 7,000 homes sold, only 425 were new, 1800 Normal, 800 flips, 1350 Short and Pre-Foreclosure.

I like that Normal number coming in that high, Don’t you?  I like it when people sell homes. So in short we are moving homes! If you are thinking about selling, contact me today!

Call or text : 480-275-9566 or email me at rebeccakallhoff@gmail.com. Or check out my website at www.sellingazwithrebecca.com

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Boy I have not ...

Boy I have not been very good in the last couple of weeks with keeping up on my blogging! It has been a crazy market here in the valley. We are seeing bidding wars.....What do you all think this is going to mean? I know it means that we are working our way OUT of the down real estate market in the Valley of the SUN!! Good news....I hope, we don't go in the other direction with the price of gas. Just when we are beginning to think that the worse of poor economy is behind us and we are moving forward, this hits us.  On an up note, if you are thinking of selling your home, you have picked a good time, buyers ARE buying! And if you are thinking of buying, interest rates are still historically low.

If you have more questions about buying or selling a home, please call, text, or email! Or check out my website at www.sellingazwithrebecca.com

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A sellers market?

Working with a buyer today, I heard him tell me it is a buyers market....I disagreed. I believe it is a sellers market right now. I say this due to experience in the past 2 months. It is frustrating for buyers as well as myself. We write contracts and write contracts and write contracts and we don't get anything accepted! We are out bid, even when we give STRONG, over asking offers. But don't take my word for it, the numbers are stating the exact same thing. In Pinal county along we have nearly 1/2 the homes we did a year ago on the market. In Dec. 2010 we had 4330 active homes on the market, with 842 pending sales at the end of the month  and 896 homes closing for the month.  In Dec. 2011 we had 2473 homes active on the market, with 860 pending sales at the end of the month, and 744 sold homes for the month. These numbers show we have nearly 1/2 the homes on the market, with about the same number of sales pending and sold. We don't have nearly the inventory we had a year ago, making our market much stronger!

Call me at 480-275-9566 or check out my website for more stories! at www.sellingazwithrebecca.com

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New 2013 Tax on Home Sales

Beginning January 1, 2013, a new 3.8 percent tax on some investment income will take effect. Since this new tax will affect some real estate transactions, it is important for REALTORS® to clearly understand the tax and how it could impact your clients. It’s a complicated tax, so you won’t be able to predict how it will affect every buyer or seller.

To get you up to speed about this new tax legislation, the NATIONAL ASSOCIATION OF REALTORS® has developed this informational brochure. On the following pages, you’ll read examples of different scenarios in which this new tax — passed by Congress in 2010 with the intent of generating an estimated $210 billion to help fund President Barack Obama’s health care and Medicare overhaul plans — could be relevant to your clients.

http://www.homeownershipuniversity.com/consumer-protection/3-8-real-estate-sales-tax-goes-into-effect-2013-part-of-health-care-bill/

Call me at 480-275-9566 or check out my website for more stories! at www.sellingazwithrebecca.com

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Mortgage Forgiveness Debt Relief Act Ends This Year

What does this mean to homeowners? This means that you are going to be taxed on the "balance" of you home if you foreclose or short-sale. You will get to pay the government an earned income credit if you "lose" your home after 2012. So if you owe 200,000 and it sells at short sale or forecloses for $100,000 you get to pay the IRS taxes on $100,000......

According to the IRS, “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.” Translation: If a lender agrees to forgive a portion of a mortgage debt, either through a loan modification or a short sale, that amount would generally be considered taxable income. The Mortgage Debt Relief Act of 2007, however, allows consumers to exclude that “income” on a principal residence. The act is scheduled to sunset at the end of 2012—an important consideration for homeowners debating whether to short sale their homes in the next year or two.

If you know of ANYONE that MIGHT be in trouble on their home, they need to ACT TODAY! Call me at 480-275-9566 or email me at rebeccakallhoff@gmail.com or check out my website at http://www.sellingazwithrebecca.com/

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