202102.23
Off
0

Will 2021 continue the Safe Harbor for forgiven debt?

https://www.nolo.com/legal-updates/mortgage-forgiveness-tax-break-extended-through-2020.html For homeowners who experienced the mixed blessing of completing a short sale in 2020, and had mortgage debt forgiven, the need not include the cancelled debt amount in the income for federal tax purposes. Please read the fine print in an article by Attorney Amy Loftsgordon entitled: Mortgage Forgiveness Tax Break Extended Through 2020….

202101.02
Off
0

More Hardship for Landlords in Virginia

The Virginian Pilot today recognized the plight of Landlords and Tenants and called out some very important new steps Landlords must take now to be able to evict non-paying tenants even AFTER the moratorium on eviction is lifted. Note that “5 day notices” must now be 14 day notices in many cases and you may…

202005.21
Off
0

Never Try to “Time” The Market

For weeks now, based in part on the economic gloom forecast for real estate values from west coast based lenders, we’ve been encouraging our real estate investor clients to wait just a little longer but save your cash and there will be some ‘incredible’ values coming onto the market soon!    The inevitable response:   How…

201906.10
Off
0

Fast Talking Analysis of Competition in Flipping

Today’s lighthearted blog is really just a link to connect to another video blog: https://thenationalrealestatepost.com/flipper-using-uber-drivers-to-find-distressed-homes/ The NREP (National Real Estate Post) gives us a few national statistics to ponder on flipping and a novel new idea on how to preserve your market share. First, the percentage real estate transactions that end in sales to flippers…

201905.10
Off
0

Becoming a Real Estate Investor

In this era of HGTV, Flip or Flop, Flip This House, and my wife’s favorite – Fixer Upper . . . it is easy to under-estimate the challenges of being a first time real estate investor.     At its worst, what you are wagering is that you think you can successfully compete with more experienced property…

201901.30
Off
0

Looking for ways to SAVE MONEY on your next closing, LOOK ELSEWHERE (when it comes to TITLE INSURANCE)

Long gone are the venerable days when you hired an attorney for $1,000 and he actually visited the courthouse to search title to the property you were buying.     The closing industry has become so competitive that most settlement fees are 1/3rd to 1/2 what they were 50 years ago!   Attorneys had a monopoly in Virginia…

201901.23
Off
0

Equilibrium!

Everyone loves a close game, right!   The ratings and reviews on this past weekend’s Conference Championships in the NFL were a great example.   Both went to overtime.   Saints fans say the refs love a competitive game a little too much a refused to call a blatant pass interference foul and helmet to helmet illegal hit…

201901.03
Off
0

Great Advice for Self-Employed Mortgage Shoppers

Ever since the knee jerk reaction to the crash of  Oh Eight, self-employed borrowers have often been intimidated away from  the mortgage application process. Despite self-employed (the “gig economy”) vocations growing as a market segment, Fear and trepidation have caused a significant 10 year drop off of self-employed applications for home loans.  Dodd-Frank, the 900…

201610.24
Off
0

Virginia Voter Information!

This year’s (11-8-16!!) ballot has the potential to be a little more complex than usual.   In my city there is a referendum on Light Rail, a question on exempting widows of First Responders killed in the line of duty from real estate taxes, and a constitutional amendment on keeping Virginia a “Right to Work”…