Author: Carrie B. Reyes

Does the healthcare law really affect sellers of real estate?

Have you heard grumbling in the real estate community about the alleged affect the healthcare law will have on real estate taxes? Yes. (70%, 217 Votes) No. (30%, 93 Votes) Total Voters: 310 Rumor has it the healthcare law recently upheld by the U.S. Supreme Court will adversely affect sellers of real estate, causing them to pay a 3.8% surtax on their home sale. There is a grain of truth to this gossip, though it will affect very few homeowners. Effective January 1, 2013, single-filing taxpayers with an adjusted gross income (AGI) greater than $200,000 and couples filing jointly...

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Servicers must assist underwater military members ordered to relocate

This guidance addresses concerns about mortgage servicer practices involving military service members who receive Permanent Change of Station (PCS) orders. Joint guidance issued by: the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office of the Comptroller of the Currency Effective date: June 21, 2012 Servicers of loans borrowed by military members receiving Permanent Change of Station (PCS) orders must: provide accurate and clear information on assistance available to them, including assistance programs under: the Making Home Affordable Program; Fannie Mae; Freddie...

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BofA offers shortsale cash incentive to few sellers

Sellers in the process of completing a shortsale with Bank of America (BofA) may receive a check in the mail from BofA as an incentive to complete the shortsale instead of allowing the property to go into foreclosure. BofA extends these cash incentives when they stand to lose more through foreclosure than the amount of cash offered the seller from a buyer in a shortsale. If the home forecloses, the bank will incur extra foreclosure related costs, including maintenance, property taxes and lost interest (and principal) while the home sits vacant. For sellers to qualify for the cash-incentive program:...

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Homeowner Bill of Rights is law

Do you think the Homeowner Bill of Rights will help homeowners? Yes (46%, 97 Votes) No (42%, 87 Votes) It will have no impact. (12%, 25 Votes) Total Voters: 209 A portion of the Homeowner Bill of Rights, sponsored by the California Attorney General, has passed. The suite of bills making up the Homeowner Bill of Rights was proposed earlier this year as a preventative measure against foreclosure abuses by lenders against homeowners. With the passage of these two state bills, Assembly Bill (AB) 278 and Senate Bill (SB) 900, California has become the most proactive state in protecting...

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Do you believe to protect the public new sales agents need to be apprenticed to a broker for a period of time before independently handling negotiations?

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Zestimates are great conversation starters with sellers and buyers. Zillow has done more for our bottom line than NAR ever has or will. Don’t fight the current of the river, learn to run with it. Disruption is inevitable in any industry that is fragmented or inefficient. Granted, it does feel like armchair experts and platforms are plentiful in real estate these days, but when the tide rolls out we will see the value proposition of the truest professionals in this industry shine once again.

Justin Bonney, on Zillow’s impact on the real estate industry

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