Yellow Pages |   News Updates |   Events Calendar |   Movie Times | Recycling  |   Document Shredding
Rocklin & Roseville Today Events
Celebrating 15 Years Online
HOME

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.



About Realtor Julie Jalone


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

BottleRock Presents Announces Concerts and Festival AftershowsNAPA, Calif. -- BottleRock Napa Valley, presented by JaM Cellars, has sold out all passes to the festival's sixth installment on May 25 - 27, 2018 in downtown Napa

Mesa Verde Country Top 5 Winter Experiences in Southwest ColoradoCortez, Colo. - Mesa Verde Country in Southwest Colorado is a great winter destination. The area boasts mountains, sunshine and everything travelers need for the perfect cold-weather getaway

BottleRock Presents Vines & VibesNapa, CA, - BottleRock Napa Valley presents Vines & Vibes, the fourth annual Do It For The Love Benefit Dinner and Concert on Thursday, May 24, 2018, on the rooftop of the Archer Hotel

2018 Lexus GX570 remains luxurious SUVRoseville, CA,- What most drivers will like about the 2018 Lexus LX570 is the combination of gracious around-town capability and its ability to go off-road in rugged winter conditions

Tree Harvest Cannabis Festival Cancelled, Fall Dates PossibleWoodland, CA- The cannabis themed Tree Harvest Festival scheduled for April 20- 22, 2018 has been cancelled due to a municipality withdrawing authorization

Roseville Gas Prices Ease SlightlyRoseville, CA- Gas prices in Roseville have eased slightly this past week despite the strong upward trend and anticipation of prices pushing toward the $4 gallon mark

Roseville City School District to Share $400,000 Grant(Roseville, CA) - Roseville City School District (RCSD) is poised to be the recipient of $400,000, all aimed to benefit its middle school students through

Kay U. Brooks presented with Don Poole AwardSacramento, CA,- Attorney Kay U. Brooks of Weintraub Tobin was recently awarded the Sacramento Region Community Foundation's prestigious Don Poole Award for her significant contributions

Arson Damage at Margaret Azevedo Park in RocklinRocklin, CA,- On February 17th 2018 at about 10:38 PM, Rocklin Police Officers responded to Margret Azevedo Park in the report of a play structure on fire

Roseville City School District Honors Teachers of the Year(Roseville, CA) - The Roseville City School District (RCSD) recently announced their Teachers of the Year. Heidi Polewaczyk and Michael Larsen have been selected

Roseville Gas Prices Throttling HigherRoseville, CA- A quick look around Roseville had motorists noticing gas prices trending upward. Prices in Roseville have pushed past the $3 mark

IHOP Pancake Drive-thru Benefits UC Davis Children's Hospital(SACRAMENTO, Calif.) - On Monday, Feb. 26, pancake lovers can drive through, eat their fill of short-stack pancakes and make a donation to support sick and injured children at UC Davis Children's Hospital


NEWS: In Case You Missed It