Buy or Sell Homes in South East Valley of Arizona

January 2013 Market Report     Report overview : This report includes MLS data for the past 36 months in Maricopa County only as provided by the FlexMLS system. Please note that searches fluctuate daily when running these reports; these figures were obtained on 1/3/13 .   A reminder that you need to meet with a real estate professional  to see how statistics impact the area where you are considering selling or buying – blended statistics will not be as accurate as a more detailed report that your real estate professional can provide to help you with your decision making. To read full report, click HERE!

Mortgage industry fares well in fiscal cliff deal, debt forgiveness law survives The mortgage industry can breath a sigh of relief with the final fiscal cliff deal bringing back a popular tax break on mortgage insurance premiums and debt forgiveness for borrowers who go through a short-sale or some other type of debt reduction. A topic that is still up for discussion and likely to surface later in the year is whether the popular mortgage interest tax deduction will be part of a long-term deficit reduction plan. To view my entire newsletter, click HERE!

Well, here's to the U.S. House of Representatives- it was close but they finally were able to accomplish something before it was too late.   One of the most pressing for the housing market is the extension of the Debt Forgiveness Act …that will keep most folks from having to pay taxes on the debt that was forgiven when they do a short Sale.   Now in fairness they passed many other bills and here is an excerpt from the White House summary;   ■ Restores the 39.6 percent rate for high-income households, as in the 1990s: The top rate would return to 39.6 percent for singles with incomes above $400,000 and married couples with incomes above $450,000.   ■ Capital gains rates for high-income households return to Clinton-era levels: The capital gains rate would return to what it was under President Clinton, 20 percent. Counting the 3.8 percent surcharge from the Affordable Care Act, dividends and capital gains would be taxed at a rate of 23.8 percent for high-inc...