Steve Holderfield's Real Estate Blog » Business

Tax Law Change Coming On Short Sales

Steve Holderfield — Wed, 18 Jan 2012 00:31:18 +0000

Image by 401K via Flickr

Did you know that if you are upside down on your home and process a short sale, that the amount that the bank forgives is scheduled to become taxable in 2013? That means that, for example, if the bank forgives say, $100,000 in order for you to sell you home, that $100,000 would be taxed at your tax rate. For a person in the 25% tax bracket that means they would owe $25,000 to Uncle Sam. If you are having trouble making your payments, I can think of no better reason to do a short sale in 2012. Contact us today. You do have options!

What Needs To Change To Improve Our Economy?

Steve Holderfield — Fri, 07 Oct 2011 19:05:34 +0000

Image via Wikipedia

I’ve been in the real estate business for some 33 years. Over that tenure I have endured some pretty daunting markets. In the past I could always point to one or two problems that, once overcome or fixed in some way, would improve the market. It always felt as though it was just a matter of time before things got better. I have to be honest and say this recession has been different. I have been unable to identify the one or two problems that need to be overcome that will make tings start moving again. I just read this article and it is quite obvious that our problem is jobs: http://economistsoutlook.blogs.realtor.org/2011/10/07/job-growth/.

For me, jobs, are not some dead end, temporary government funded stimulus attempt by some Washington bureaucrat, but real, career building, long term employment that an employee can strive at and achieve the rewards that we all desire. Until we see that kind of change in the job market, we are in for more of the same… falling incomes, high unemployment, more foreclosures, etc. The jobs are out there and will be created once our Government gets out of the way and empowers our job creators with lower taxes, certainty about the future costs of running a business, less government regulations, etc. At least that is my opinion.

Economy added 103,000 jobs in September (seattletimes.nwsource.com)
Economy added 103,000 jobs in September (sfgate.com)
Your comments: Long-term unemployment a growing problem for more than 4 million Americans (nj.com)
New Layoffs Are Harbingers of Broader Economic Changes (usnews.com)

At Times Like These, You Need an Experienced Realtor That You Can Trust

Steve Holderfield — Tue, 27 Sep 2011 00:31:53 +0000

: Image via Wikipedia

Does it feel like the current poor real estate market just keeps getting worse? The real estate bust followed by the “Great Recession,” the “Jobless Recovery” and now the threat of a “Double Dip Recession?”

Weren’t we assured that home values were destined to go up and up and up? Failed assurances are on the news every night.

Here’s the bottom line: the choices that homeowners make when they feel they are at the end of their rope will have ramifications for years to come on their ability to qualify for credit, their job prospects, their security clearance and their overall finances. When a family’s financial trajectory is rapidly heading in a negative direction, there’s no substitute for the helping hand of a knowledgeable expert who has the integrity, the experience and the training to reverse the course—someone who is tapped into regulatory initiatives and can separate fact from fiction.

It is my mission to serve as a credible source of information and perspective to homeowners who have found themselves in a tough situation and need help sorting through their options. That’s why I sought out the Certified Distressed Property (CDPE) designation—the most renowned and recognized credential in the distressed property field, and it’s why I continue to stay on top of regulatory and industry developments that impact options available to homeowners who are struggling with their current financial situations.

My message to homeowners who do not know where to turn: there is hope. Foreclosure is not inevitable and neither the government nor your bank wants to see that happen. No one expected to find themselves on the brink of foreclosure, but I have worked with countless clients who have managed to turn their financial trajectory around and get on a path of financial recovery.
It CAN be done! And it would be my privilege to help. I have help many homeowners avoid foreclosure and I can help you. I have assembled a team that can help you through the short sale process, help you with repairing your credit so that in a short time you will be ina position to own a home again. Call, we can help!

First Private-Label Residential Mortgage Backed Securities (RMBS) Deal in Two Years

Steve Holderfield — Fri, 23 Apr 2010 14:15:22 +0000

This is really good news… a private company backing the purchase of residential mortgages packaged as an investment. This “secondary market” due to the collpase of the housing market has all but dried up. This missing element to our market is one of the reasons that we all have been fearing an increase in interest rates which would be devastating to an already weak market. If there is no vehicle for banks to sell the loans they make, there is no source to re-capture the capital needed to make additional loans. Unless there is an active secondary market, the only ultimate solution for banks to sell their loans would be to enhance the desirebility of these investments through increasing the yeild through higher interest rates… not a great solution for consumers. Read on here: http://www.dsnews.com/articles/redwood-trust-readies-first-private-label-rmbs-deal-in-two-years-2010-04-22

California Foreclosure Sales Soar in March

Steve Holderfield — Tue, 20 Apr 2010 14:03:18 +0000

: Image by Getty Images via Daylife

The banks are back in the business of foreclosure, Remember last year that many banks had voluntarily instituted moratoriums on foreclosing on homeowners. Well this moritoriums have now pretty much expired and we have a surge in foreclsoure activity. Read more: http://www.dsnews.com/articles/california-foreclosure-sales-soar-in-march-2010-04-19.

So what do you do if you feeling that distress is approaching and you are worried that you can’t continue making your mortgage payment? To make matter worse, you may have discovered that you owe more on your home tham its worth in today’s market. Well you do have options. Consider having us negotiate a short sale with your lender. To find out more go to www.morethanashortsale.info. We have successfully negoatiated short sales with most major lenders and can help you. Remember, you do have options and the quicker you act the better the outcome will be. Contact us today if you need help.