Realty World – BLUE | Property Group, Inc.

Hellloooo My Wonderful Beautiful Bay Area!!… How many of you have gone through the home buying process and gone to the title company to sign off your loan documents and actually experienced waiting the day or two before your home finally became officially yours??… For those of you who have never gone through the process here’s a glimpse of what actually happens when you go to sign off your closing documents just prior to your home loan funding and recording at the County Recorder’s Office and getting your keys to your new home!…  the following video is an actual signing for one of my clients (who happens to be just 23 years of age, who purchased her first home without any financial help from her parents… (I want to make clear that this example is one that is happening much more frequently than ever before … and I want to emphasize that anyone I mean anyone no matter how young or old can achieve homeownership if the desire is there…)
I hope this will enlighten you and give you extra insight as to what happens towards the end of a transaction in escrow… By all means please feel free to contact me with any questions you may have… it will be my pleasure to assist you…

Maddi is now a very happy and proud homeowner and I’m very honored to have represented her!…
Thanks for checking in…
Isi
Isi Wu… the realtor for you
Serving Clients All Over the Eastbay…

Hello My Beautiful, Wonderful Bay Area!… Today …Isi’s Fav Spots is highlighting a fun place to go have food and drinks and general merriment… Another one of those places in the Eastbay thats been around for a long time and enjoys a clientele made up of old timers – new timers and once in awhile timers… but always a great place to enjoy some food and drinks and friends or do business… hope you’ll put it on the calendar to go try it out … its a nice place…
http://www.youtube.com/watch?v=ZwQz1I9MQLw
 Cheers!.. Thanks for checking in…
Isi
Isi Wu
Serving Clients All Over the Eastbay…

Nelson Mandela via last.fm

Hellooooo My Beautiful Wonderful Bay Area… just had to share this with you… “the greatest glory in living… lies not in never falling… but in rising everytime we fall.” ~ Nelson Mandela

Image via Wikipedia

 
Greetings My Wonderful Beautiful Bay Area!!…  Today I want to revisit what can happen to you if you enter into a Short Sale or if the Bank Forecloses on your property and sells it.
There is NO FREE LUNCH when it comes to the IRS… whenever your home is sold… whether by regular conventional means or if you sold your home at a loss and you paid the difference or by short sale approved by the Bank or involuntarily by foreclosure… be warned you may be subject to taxes!
It doesn’t seem fair and what’s worse… you may not even find out that you owe taxes until the day you open your mail and find a 1099.
The IRS has tax rules for foreclosures or repossessions by lenders of homes belonging to owners who have fallen behind on their mortgage payments.  There can be severe and unexpected tax consequences for any owner who simply walks away just because he or she has little or no equity and the lender takes over and sells the property.  When a mortgaged property is foreclosed or repossessed and the bank re-acquires it or the bank knows the owner abandoned the property… the bank will send Form 1099 to the owner and the IRS… it will include the foreclosed bid price, the actual debt (loan) amount and the amount short of the debt amount… that amount will be taxed as ordinary income… the same as for your salary.
Sellers of residences acquired within the past two years or so are going to incur losses.  Even assuming no price declines, losses will result because of expenses for real estate brokers, lawyers and the like.  Sellers will not be able to deduct those losses… it makes no difference that they are forced to sell because of ie)… job changes or health reasons.
**  There’s also information floating around that Banks where distressed properties have overtaken the area in certain markets…are taking steps where even after they approve and close a property for short sale… they will be actively tracking the owner of that short saled property over the next 6 years… during that time if their credit rating goes up and if they attempt to purchase another home they will be pursuing them for the  “short amount” they lost when they approved that person’s short sale 6 years prior… This bit of information is not fact – as of yet here in California… yet people… Everyone please do everything you can to protect yourselves BEFORE A FORECLOSURE OR SELLING… PLAN AHEAD… especially before attempting to sell on a short sale or going through a foreclosure… please get legal and tax advice… do the planning BEFORE ITS TOO LATE!!…
Thanks for checking in…
Isi
Isi Wu… the realtor for you
Serving Clients All Over the Eastbay!
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Frequently Asked Questions on Short Sales answered by my Short Sale partner IFR  visionaryrealtynews.com)
75% of modified home loans will redefault  money.cnn.com)

 
Hello My Beautiful Wonderful Bay Area ~ How are things going for you today?…  No matter whats going on in our crazy lives… this certainly brings a smile to most everyone’s face… it’s something we all have fond childhood memories of…  One of the most treasured guilty pleasures for most everyone is “ice cream“ !!!… its simply ageless… lots of late nights spent topping off a nice day or evening out, or going for a sweet treat with friends,  or spending time with a loved one or just going for a fun time…  One of my most favorite places to go is a place called Fenton’s … its not just a place for ice cream… its  a “happening” place to be… with darn good ice cream… all kinds… and an “all american” style menu filled with your favorite basic foods nothing fancy… but sure to please those who choose to have a meal before their “very special dessert”…here’s my attempt in sharing the essence of Fenton’s…  enjoy and if you havent been… you must try it at least once in your life!… soooooo soooo yummeeeee…
Clik This >>>>>>>>> >>>>               The Legendary ~ Fenton’s Ice Creamery
Thanks for checking in…
Isi
Isi Wu… the realtor for you
Serving Clients All Over the Eastbay!