2014 is shaping up to be a great year to buy or sell real estate!
Rates are still hovering below 5% for most home loans.
More loan packages are available for those who suffered in the financial crisis with just 12 months following a short sale , foreclosure, deed in lieu for many buyers.
For sellers there is still a limited inventory for buyers to choose from and for short sellers California Association of Realtors has announced that the IRS has clarified in a letter that California’s troubled homeowners who sell their homes in a short sale are not subject to federal income tax liability on “phantom income” they never received.
Happy Buying and selling!