Well we right now we have what I am calling the perfect storm. Interest rates are still at an all-time low, prices on homes are again low (it is cheaper to buy than to rent a home right now) and on top of all of that banks are offering assistance with closing cost. How can you go wrong? Folks that have been holding on for dear life to their home, they are now in a position to sell and finally not have to compete with short sales or foreclosed property. Yes, they are still here—but 58% of all homes sold in the past 3 months have been regular sales…Music to our ears!!
With the Debt forgiveness act ready to expire at the end of the year—if you think you need to sell for less than you owe, now could be a GREAT time to do so. This act allows you to sell your property for less than owed, and the difference is not taxable. Will they extend this act? Hard to say but I do know if they don’t you will be liable to the tax on the difference based on what your tax bracket is. Now of course I am not your tax account- so if you are considering this please do yourself a favor and get legal and or tax advice.
So if you have been thinking of selling, right now is the time! Feel free to go to my website www.AzSellsHomes.com there is some great information about what your choices are and some items for getting ready to sell your home. If you want to see what your home is worth, give me a call or email and I will be happy to schedule a free consultation! 480-570-1912 or BeeryRealty@gmail.com .
If you are just curious to see what is out on the market, then feel free to go to www.AzBuysHomes.com to see what you can get for your money after you sell- or perhaps you just want an investment property…Now would be a good time for that as well!