So much going on real estate-wise. Our inventory is shrinking fast and new construction permitting and starts are sharply up. A well-priced property does not last long; some customers of mine were very disappointed to learn last week that 2 homes they were thinking about bidding on suddenly went under contract less than a week later. What's happening? Pent up demand?, record low mortgage rates? It's almost "all good"!
Heads up for short sales. The Mortgage Forgiveness Debt Relief Act is due to expire Dec. 31st. Will it be extended? Who knows at this point, but short sellers, agents and lenders involved would be wise to get a move on and take advantage of this excellent program for distressed homeowners while they can. This is a call to action for the next 5 months. Let's help people out and get these underwater homes off the books! Get more info at Publication 4681.
Comments(1)