On occasion we lose great employees, lawyers, staff, and friends of the firm as they go on to new callings or perhaps to meet their Maker. Thankfully, this edition’s ‘WHERE ARE THEY NOW” is about the former. Matt Pittman, former law firm digital maintenance expert, network and computer guru, file scanning department leader and firm…
A client called today to have our lawfirm engage in a discussion with his CPA as to tax ramifications for “subject to” sales of homes. For those of you who have never considered using “creative financing” to sell your home or buy a home, a “subject to” means the buyer takes over the seller’s mortgage…
These are some very helpful recommendations that one of our long time clients took the time to compose and share. The client prefers to remain anonymous but you should know that this gentleman has an incredible resume’ which includes running multi-million dollar businesses and overseeing commercial construction campaigns as well as several of his own…
For those of you that check back on this website and blog periodically to find out whether your forgiven debt from your short sale in 2015 will be taxable or not . . . . the year is 3/4th complete and we still don’t know. As you may recall from 2014 . . . it…
A wise man once said, and many wise real estate investors have repeated it : “You make your money when you buy, not when you sell.” The point is that you don’t want to overspend on an investment or you can forget realizing a profit in this lifetime! Sometimes it makes sense for a buyer…
At the intersection of Inventory, Income and Interest rates, we find the biggest pool of eligible buyers of new homes. New road projects at that point on the map appear to be moving to a place that will reduce the pool of eligible buyers. Take a minute and listen to the Real Estate Industry Blog…
With so many ads touting the historic lows of mortgage lending interest rates you have to be at least thankful that they have dropped the word: “New” when describing the historic lows. Believe me when I say that we are all thankful (ok, well, maybe some lenders wish the rates were higher) for the historic…
No wonder our legislators and President are suffering such low approval ratings right now – with just 2 days to spare, they have finally re-enacted the Mortgage Debt Forgiveness Relief provisions which keep Short Selling home occupants from facing stiff taxes on phantom income. Unfortunately, 2015 is upon us and once again the collection of…
Southeastern Virginia is blessed to have a relatively high percentage of military homeowners and therefore a higher percentage of homes than in most parts of the country with VA loans and therefore, thanks to the low down payment requirements for VA loans, a higher lingering inventory of “upside down” or “underwater” homes. Military homeowners…
In our blog earlier this month we included legislative contact information so that you could let your Senators and Congressmen know how important you feel it is to extend the taxable income exclusion for forgiven debt on your primary residence. That exclusion was originally part of a tax relief package begun in the Bush era…
