Pushing For Change - To Improve the VA loan process - 05/15/12 11:24 AM
Pushing For Change - To improve the VA loan process -The San Diego housing market is now at an all time high when it comes to affordability. This is great news especially for first time homebuyers.  Low sales price and historically low interest rates have created this perfect storm for buyers. As an agent that represents many VA homebuyers, I'm seeing certain issues that can affect appraisals and in some cases, kill a deal. 

I knew I had to do something, when another escrow involving a VA buyer fell apart due to a low appraisal back in December 2011 that … (0 comments)

Home Foreclosures, Deeds In Lieu of Foreclosure and Short Sales... Credit and Tax Ramifications - 05/07/12 10:54 AM
Home foreclosures, Deeds in Lieu of foreclosure, short sales and tax ramifications. Although the economy is starting to improve, many clients are still facing unaffordable mortgage payments and/or homes which are “upside down” (mortgage balance is greater than property value). As a result, foreclosures, deeds in lieu of foreclosure and short sales are still commonplace.  Foreclosure. Payments are in default and lender repossesses home. Credit. Severe impact; lowers FICO score 200-300 points; remains on credit report for 7 years from date of filing.   Ordinary Income Tax. Under the Mortgage Indebtedness Forgiveness Act, may exclude up to $2 million of “qualified … (0 comments)

Foreclosure Help - Chula Vista, CA - 05/03/12 09:36 PM
Foreclosure help - Chula Vista, CA - Looking to avoid foreclosure? Struggling to pay the mortgage? Want to get from under mortgage debt?  A short sale could be an option for you and there's a big reason why you should consider it. Here's a bit of good news if you're reading this blog and haven't heard any in a while regarding the real estate market. The San Diego housing market has a shortage of listings. That's right, there aren't enough homes on the market for sale right now to meet the demands of buyers looking in Chula Vista. So, if you're … (0 comments)

Rental Properties in Divorce Settlements - 05/02/12 06:30 PM
Rental Properties In Divorce Settlements -Investment real estate as part of property division requires special attention. That is due to the numerous factors that affect their value: Cash Flow. If the rent is covering the mortgage, repairs, management fees and property taxes, there is positive cash flow. Depreciation may shelter all or part of that cash flow for tax purposes making it of even greater value.  Equity. Is the property’s value greater than its debt?  Cost basis. This is extremely important with rental property for the following reasons:    Unlike residential real estate, there is no capital gains exclusion ($250,000 for … (3 comments)

 
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Lorraine Santirosa, San Diego Military Relocation Expert!

San Diego, CA

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Keller Williams - San Diego Metro

Address: 3965 Fifth Ave. #300, San Diego, CA, 92103

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