Steve Holderfield's Real Estate Blog

They have said that 2012 will be called the year of the short sale. Here’s more evidence: http://realtormag.realtor.org/daily-news/2012/03/01/short-sales-rise-more-banks-view-it-better-option I’m closing 2 short sales

right now. One of them the bank is allowing the seller to receive $25,000!  If you know somebody who is in distress with their property and would like to learn what options they have, please send me their name and contact info to steve@realtyworldpcp.com or direct them to www.morethanashortsale. To learn more about associating with our fine company go to:

info. http://careersrwpcp.com/

Related articles

• Short Sale Incentives in the News Again (agbeat.com)
• Short Sales Will Explode in 2012 (steveholderfield.com)
• DSnews.com: Short Sales Bring 24% Greater Returns than Foreclosures (foreclosure-avoidance.com)

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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!

A friend of mine has been chosen by a bank, who will go un-named, to market about 150 properties for them in Solano County this year. Could it be that the banks are finally planning to bring all the “phantom inventory” we’ve all been wondering about, to the market?

If so, we could be in for another market drop… but finally we could have more inventory to present to our buyers. There’s always 2 sides to every story. Many experts have estimated that the banks have held back about a years worth of home inventory from the market. This action or lack of action has actually created an artificial shortage of available listings around the country. Home prices have actually risen a bit due to the lack of inventory and many expect that these recent gains would be erased if the banks brought all this inventory to the market.

So hang tight the coming months should be interesting to see if the banks do put all the foreclosed homes that they are holding to the market and what the reaction of the market will be.

http://www.dsnews.com/articles/white-house-to-announce-plans-cut-mortgage-principals-2010-03-25

More government means less freedom and unintended consequences that are hard to predict. I’m not saying that the government intends to do harm… it just seems that they can’t predict what the results of their actions will be.  When it comes to the government, in my opinion, less is really more.   It seems to me that the more they try to fix things the longer we have to deal with this financial crisis. I say, let’s let the 100% effective law of natural consequences do it’s good work. There is nothing more sure to affect human behavior in a positive way than letting somebody have to deal with the natural consequences of making a mistake.