yellow pages news jobs events calendar movie times
Rocklin and Roseville Today Events Calendar
    (Independent and Locally Owned)

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.

Print

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

Placer County Tourism Gets Boost Placer County organizations team up to promote tourism in the region.

Want to Buy a Home and Need a Rich Uncle?Mortgage Alternative Program (MAP)- Julie Jalone of MagnumOne Realty in Roseville writes about new program to help get families who can't currently qualify for a mortgage into homes of their choice and on the road to homeownership.

U.S. HealthWorks Offers Onsite Flu Shots U.S. HealthWorks Medical Group, a leading operator of occupational healthcare and urgent care centers in the nation, said today it is offering to visit businesses on-site and provide flu vaccination shots

Roseville Police Bust Nets $40,000 Cash, Guns and MethRoseville narcotics detectives suspected that Joshua Holmboe was both selling illegal drugs directly to users and also supplying lower-level drug dealers, and that some of those drugs were then being sold and used in Roseville.

Governor Brown Signs Bill to Help Disabled VeteransLegislation sponsored by George Runner to protect California's disabled veterans has become law. Senate Bill 1113, authored by Senator Steve Knight (R-Antelope Valley),

Roseville Chamber Events October 2014Roseville, CA -- The Roseville Chamber of Commerce featured events for the month of October 2014.

Sacramento Area Gas Prices Down AgainAverage retail gasoline prices in Sacramento have fallen 2.4 cents per gallon in the past week, averaging $3.61/g yesterday, according to

Nontraditional Employment for Women Event in RocklinSierra College seeks sponsors for the second Nontraditional Employment for Women (NEW) event on October 17

$160,000 for Scholarships Raised at WJU Anniversary GalaJessup's Gala Honored 75th Anniversary and those who brought the Growing University to Placer County

Wakefield Gets SA Chapters RunningMy featured person this week, Margery Wakefield, of Lansing, Michigan, has had lifelong struggles with schizophrenia, a mental health disability.

Overcharged Tax on an Auto Purchase? Get Your RefundUnfortunately, I've been hearing from my constituents that the Department of Motor Vehicles is overcharging tax on their vehicle purchases.

Ford Focus Sportier and More RefinedFord redesigned the Focus two years ago and has produced a fairly sporty and refined compact car that has received strong statements of approval from prominent auto publications.


more news