Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times | Recycling
Rocklin and Roseville Today Weekend Events
contact add event advertise 

Now with the election behind us...



Now with the election behind us, it is time to look to the end of this year and the year beyond.

As we prepare for 2013 one of the big issues in the Sacramento housing market remains distressed properties and if Congress will extend the Mortgage Debt Forgiveness Tax Relief law.  This is this act which provides a tax exemption for forgiven debt related to the short sale of homes.  The act and the exemption are set to expire at the end of the year and if not extended will virtually remove short sale as an option for homeowners who must sell a home with a value less than the mortgage balance.   If the law is allowed to expire, homeowners who negotiate a short sale or lose their homes through foreclosure would have to pay federal taxes on the amount forgiven by their lender.

The NATIONAL ASSOCIATION OF REALTORS(r) has issued a nationwide Call-for-Action, urging members to contact their Members of Congress in support of extending the current Mortgage Debt Forgiveness Tax Relief law. Despite some positive signs of recovery, our nation's real estate market is still fragile. Over a quarter of all transactions still involve distressed properties.   As part of this call I am urging you to contact your representatives and ask them to support an extension of the act.

As we move into 2013 the California housing market will continue to recover.  The California Association of Realtors has forecast increased sales for the third consecutive year and the median price to rise for the second straight year.  The C.A.R. forecast sees sales gaining 1.3 percent next year to reach 530,000 units, up from the projected 2012 sales figure of 523,300 homes sold.  Sales in 2012 will be up 5.1 percent from the 497,900 existing, single-family homes sold in 2011.

C.A.R.'s forecasts the average for 30-year fixed mortgage interest rates will edge up to 4 percent after six consecutive years of declines, but will still remain historically low.

The statewide median home price is forecast to increase a moderate 5.7 percent to $335,000 in 2013.  Following a decrease in 2011, the California median home price will climb a projected 10.9 percent in 2012 to $317,000.

The actions of homeowners who are upside down and what happens with the tax forgiveness act will be important in 2013.  With prices moving up, some of these homeowners will stay in their homes while others will sell and move forward.

If you or someone you know is considering selling a home where the value is less than the mortgage balance, give me a call at the MagnumOne Realty office in Roseville (916-899-6571) or send an email to juliej@jalone.com.  I would be happy to answer your questions.





Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento

Placer County News Headlines

Pediatric Telemedicine Consults Delivers Cost SavingsResearchers at UC Davis have conducted a comprehensive study to determine whether pediatric telemedicine consultations with rural emergency departments

50 Days of the Grateful Dead: Sugar MagnoliaIn a nod to the recent Dear Jerry Celebration held at the Merriweather Post Pavilion and an online request, we step back in time 32 years to June 1983.

Memorial Day Weekend : All Aboard as Railroad Season BeginsWhen the whistle blows Memorial Day weekend it will be full steam ahead this summer aboard the historic Virginia & Truckee Railroad

American River Project: Water Transfer ApprovedDrought Watch: At the May 21 meeting of the Placer County Water Agency (PCWA) Board of Directors, the Board approved a resolution authorizing the release of 12,000 acre-feet

Granite Bay Cuts Water Use 32 PercentDrought Watch: Customers in San Juan Water District's retail service area reduced their water use by 32 percent in April compared to 2013.

When 20 Billion Gallons of Water Savings is Not EnoughDrought Watch: Even though customers from 19 Sacramento-area water agencies have saved more than 20 billion gallons

$900,000 Window Project: Placer County Courthouse AuburnWork is under way on a construction project that will restore and repair aging windows at Placer County's Historic Courthouse in Auburn.

Squaw Valley High Profile Development ProposedA proposed high-profile project is in the works that would transform 94 acres in Squaw Valley into a development offering numerous resort residential options and amenities

Auburn Library Opens with Flooring Project CompletionThe Auburn branch of the Placer County Library has been closed since May 1

Kaiser Permanente Roseville Honors Fallen for Memorial DayKaiser Permanente Roseville Medical Center held a special ceremony yesterday honoring the memories of all who have died on behalf of our country

Raley's and iFoster Launch Foster Youth Hiring Program iFoster has partnered with Raley's Family of Fine Stores to develop a new hiring program for foster youth.

Auburn Non-Profit Above All Adventures Utilizes IndiegogoIn Placer County, 13 is the average age for first time alcohol and illegal prescription use, and binge drinking increases threefold between 9th and 11th graders


NEWS: In Case You Missed It