As part of the so-called “fiscal cliff” negotiations, Congresses’ late night settlement included a one-year extension of the Mortgage Forgiveness Debt Relief Act. Essentially, this allows underwater borrowers (those who owe more on their mortgage than their home is currently worth) to “discharge” any tax liability for loss incurred from a short sale, foreclosure or … Continue Reading
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Eastside Costa Mesa
Homebuyers – Be Prepared to Compete As Competition Heats Up; The New Supply-and-Demand Driven Market
House hunters in Newport Beach, Costa Mesa, Orange County and elsewhere are encountering formidable old foes… ample competition, multiple offers and all cash buyers. Well-priced homes in desirable areas are rare – and thus a precious commodity. Some homes in sought-after neighborhoods are selling like hotcakes, above list price, with multiple offers submitted within … Continue Reading
East Side Costa Mesa Real Estate
Anyone looking for property in East Side Costa Mesa will have no problem finding the home of their dreams. Unfortunately for buyers, home prices are on a significant incline. As loans remain at record low rates, those with solid credit, income and lender approvals can lock-in unprecedented interest rates. Even a “more expensive home” (compared with, say, a few … Continue Reading
