‘Turnaround year’ for O.C. real estate

Good news for real estate in the Orange County area! In a recent article by the Orange County Register, “the Orange County housing market ended 2012 on a strong note, as sales soared and prices climbed to the highest level in 4 1/2 years, according to two reports released”  recently. With both sales and prices up …

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Still Time to Have Forgiven Mortgage Debt Excluded as Taxable Income

Homeowners who have had mortgage debt forgiven after a foreclosure, modification, or short sale may be able to exclude the canceled debt from their taxable income if they meet specific criteria. According to Gil Charney, principal analyst at The Tax Institute at H&R Block, the specific criteria to have forgiven debt excluded are the debt …

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Real Estate Debt and Delinquencies on the Decline

Real estate-related debts are on the decline, as are overall delinquencies, according to a quarterly report from the Federal Reserve Bank of New York. Debt maintained through mortgages and home equity lines of credit (HELOC) declined $146 billion during the fourth quarter of last year. Mortgages made up a majority of the decline – $134 …

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Distressed Dispositions Outpace New Delinquencies as Shadows Shrink

The industry’s shadows are shrinking, according to CoreLogic. The residential shadow inventory of unlisted REOs and soon-to-be REOs stood at 1.6 million units as of July 2011, based on the analytics firm’s calculations. CoreLogic says that tally represents a supply of five months and is down from 1.7 million units in April and 1.9 million …

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