Archive for the ‘Foreclosure Information’ Category

What’s really gotten the market moving? This RIS Media article looks at how much of our recent sales activity has involved first-time buyers, distressed properties…or both. The National Association of Realtors reports that “half of the sales made in the year’s first quarter were to first-time buyers and almost half of all these sales were distressed properties.” And that’s good news for the market as a whole — the sooner the existing inventory (including distressed properties) is absorbed, the sooner we’re back on our way to a stable marketplace.

This is one foreclosure I didn’t see coming!

…are there tax consequences?

Considering we are deep in tax season, and both short sales and foreclosures are on the rise, I thought I’d find some information to help you realize potential tax consequences.

Be advised, any of you in a possible short sale or foreclosure situation should consult with your CPA, tax adviser, attorney or other advisor.