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Home Selling in West Sacramento : Real Estate Advice

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Activity 4
Wed Aug 21, 2013
Jaime Becker answered:
Hello

I just came across your question and wanted to see if you were able to get everything handled? If you still need help, let me know. I have both experience in the area as well as probate and or trusts sales.

You can contact me if you still need help.

Sincerely,

Jaime Becker
Lyon Real Estate
jbecker@golyon.com
www.SacramentoHomesByJaime.com
Off: 916-484-3610
Cell: 916-715-7454
BRE# 01737783
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Fri Oct 5, 2012
Austin Najera answered:
Hi Alicia,

I would also be happy to give you my opinion of what can be done to get you the absolute top dollar for your home.
There is a lot involved in preparing and selling a home so it is important that you get the very best person for the job. I would love the chance to throw my hat in the ring!
You can call me at 916-813-7516 or email me at aknajera@gmail.com.
Talk to you soon.

Austin Najera-Broker Associate
Fusion Real Estate Network
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Fri May 11, 2012
Perry Palamidessi answered:
Hi Alicia, if you can hold off you are going to get more money as time marches on. Since mid January my charts started to move north, with some homes up nearly $35,000. I don't see this pattern changing for a couple of years, this whole real estate market fell so far so fast, we were due for a quick uptick in pricing. We are poised to see a nice run thru out the rest of the year, so if your situation permits, hang in there, and enjoy the ride.
Alicia I have lived in West Sacramento my whole life and have sold more homes in the last 11 years than anyone. I think one of the reasoins for this was I told people the truth about their situation, and it seems you are in no hurry. We all took a beating in the last 4 years, let the market catch up a little...we are just getting started
.
Perry Palamidessi 425-1270
Exclusive Realty
1102 Jefferson Blvd.
West Sacramento
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Sun Apr 5, 2009
Ann Cook answered:
Hi Wendy,

I'm not an attorney but I do a lot of reading. You should go to an real estate and tax attorney on this What I do know is CA is a non judicial state which means that if the home is foreclosed on the bank cannot come after you because they've gotten the house back from you. However, if you have not lived in this house as your pirmary residence you'll face a tax on the loss the bank suffers. They'll 1099 you for their loss and you'll have to pay taxes on it. The only way you'll get out of this is if you have lived in the house as your primary residence, file bankruptcy or you can verify with the IRS you are financially insolvent. There was a law signed into effect by G,Bush jr in 2007 under the debt foregiveness act that allows the owner occupied home owner who loses their house to foreclosure to not be penalized by being taxed on the loss of the bank. This law is a sunset law that expires in either 2009 or 2012. You can go the IRS's website and look up debt foregiveness. It does not appy to 2nd homes. If this home was used as a rental at all during your ownership be prepared to pay taxes on the depreciation you claimed on your taxes against the house. Again, I'm not an attorney but I read a lot. Perhaps you may want to contact your bank to see if they're willing to do a loan modification (be careful about the terms of the loan mod if you get one because while CA is not a judicial state, with the right language in a loan modification re your future default on the loan the lender could alter your rights with your agrrement). One thing, if the home is your primary residence, if you have an Equity Line of Credit (ELOC) on the loan, if the value of the house has dropped below the balance you owe on the ELOC the ELOC is now an unsecured loan because there is no longer any equity securing the loan; but I'm sure there is a little more tied to this than my simple explanation. A bankruptcy attorney can advise you on this (I've never filed bankruptcy). I've been told that some bankruptcy judges have eliminated ELOC's all together and treated them like any other unsecured debt. Again, I am not an attorney, I just read a lot. Now I may be misunderstanding everything I've read out of context and without reference to connective laws that affect what I've read, but I encourage you to please talk with an attorney. Please check out IRS.Gov and CA Assembly BIll SB1137. ... more
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