Buy or Sell Homes in South East Valley of Arizona

Here is the Market Report for the period ending February 2012. The Market has, and continues to shift, yet again. You can see this by the Distressed Property comparison below, and by the other statistics that are presented in this report. For a more thorough understanding of how the market is shifting, and how this affects you, please give me a call and we can talk about it. Distressed Sales Analysis: This month I am including 2 Distressed Property charts. We include one every month, but I wanted to provide a comparison of our current distressed property status, with where we were a year ago. What a huge shift we have seen in the market over the past year. Foreclosures have dropped from 47% of the Sales to 23%, and Traditional Sales (non-distressed) have gone from just 32% of the Market to 49%. As we get further on in this report, you will see how this dramatic shift has affected all segments of the market, including price, and listings. To view entire report, click HER

Signs of upturn in Phoenix's long-suffering housing market By Julie Schmit, USA TODAY The Phoenix housing market is showing signs of improvement, even generating bidding wars among buyers for lower-priced homes. To read more, click HERE -------------------------------------------------------------------------------- Home Repair: Which Jobs Come First? By Josh Garskof Lean times call for budgetary triage. But while you should clearly opt for orthodontics before Disneyland, the choice is tougher when it comes to home maintenance. To read more, click HERE To view entire Newsletter, click HERE . --------------------------------------------------------------------------------

Here are 10 things the Internal Revenue Service says you should know about mortgage debt forgiveness: 1. Normally, when a lender forgives a debt -- that is, relieves the borrower from having to pay it back -- the amount of the debt is taxable income to the borrower. Thus, a homeowner who had $100,000 in mortgage debt forgiven through a short sale would have to pay income tax on that $100,000, as an example.Fortunately, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude from your taxable income up to $2 million of debt forgiven on your principal residence from 2007 through 2012. This means you don't have to pay income tax on the forgiven debt. 2. The limit is $1 million for a married person filing a separate return. 3. You may exclude from your taxable income debt reduced through mortgage restructuring, as well as mortgage debt forgiven in a foreclosure. 4. To qualify, the debt must have been used to buy, build or substantially improve your p

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