Hat tip to GM for pointing this out - did you know that the Obama Administration has been trying to modify the 1031 exchange rules? Potential sellers of investment properties are already paralyzed by the thought of the excessive taxation by federal and state...
The other day, I used the term 'die correctly', which refers to those who hold properties until death, allowing those who inherit to step up the tax basis. From wiki: Under IRC § 1014(a) the general rule applied to property a beneficiary receives from a benefactor is...
After seeing Bernanke holding the smoking gun on Monday (where he said that he told banks to not disrupt the economy with their REOs), did you give up hope getting a deal on a distressed sale? If not, this might push you closer to believing. Here is the mix of NSDCC...
In the San Diego-Carlsbad area, 11.4 percent, or 66,899, of all residential properties with a mortgage were in negative equity as of the third quarter 2013, according to CoreLogic. It was a slight improvement from 2Q13, when 13.6% of all mortgaged properties were...
From NMD: RealtyTrac reports that the nature of distressed property sales is evolving. In its most recent report on market and distressed sales, the company noted that changing economics are increasing the reliance on more traditional third party purchases at...
Distressed sales have dwindled down to a fraction of the NSDCC market, though they were never a large contributor. Here are the detached-home sales from the June 1-to-August 31 period: Year REOs SS Non-Distressed % Distressed 2009 48 35 572 13% 2010 46 69 575 17% 2011...
From DSNews.com: As home prices improve and headlines spell out recovery, those on the ground in housing markets across the country are encountering a new threat: “zombies.” These so-called “zombie” foreclosures take place when a bank initiates foreclosure on a...
Remember this from September? The use of third parties to help Fannie Mae sell its REO properties is coming to an end. Fannie Mae notified remaining vendors that the government-sponsored enterprise will transition all REO sales work completely to Fannie Mae's in-house...
From NMD: As the housing crisis unrolled the Department of Housing and Urban Development (HUD) and the two government sponsored enterprises (GSEs) Freddie Mae and Fannie Mae came into possession of more and more properties thorugh foreclosure. As of September 30,...
An excerpt from an article in the MND: While great efforts must be taken to avoid a future crisis and bailout the SIGTARP says, we cannot lose sight of the current TARP bailout. Wall Street may have recovered but Main Street has not. TARP was always intended as a...
