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Real Estate Articles (2013)

REALTOR®: SILVAR REALTOR® is 2014 Women's Council of REALTORS® chapter president

Wednesday, December 25, 2013
Members of the real estate industry congratulated the Women's Council of REALTORS® (WCR) Santa Clara Valley chapter on the installation of the group's 2014 president and officers on Dec. 4. Mimi Wang, a REALTOR® with Century 21 M&M in Cupertino and a member of the Silicon Valley Association of REALTORS® (SILVAR) is the 2014 WCR local chapter president.
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REALTOR®: Mortgage cancellation tax relief set to expire, but renewal is likely, according to REALTORS®

Wednesday, December 25, 2013
One of the major successes Congress reached in the “fiscal cliff” negotiations at the end of 2012 was the extension of the Mortgage Forgiveness Debt Relief Act for another year. The measure continued to exempt from taxation the mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal reduction) or foreclosure. On December 31, 2013 the Mortgage Cancellation Tax Relief will expire. Without an extension, homeowners in the same position would be subject to federal income tax liability on debt written off by lenders as a result of these distressed transactions.
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REALTOR®: 2013 a Good Year for Santa Clara County

Wednesday, December 18, 2013
The housing market is bouncing back in Santa Clara County. Compared to previous years, 2013 was a good year. Expect 2014 to be just as good or even better, according to Moise Nahouraii, broker/owner of Referral Realty in Cupertino. Nahouraii, who is a member of the Silicon Valley Association of REALTORS®, shared data with other members of the local trade association to prove his point.
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REALTOR®: FHA temporary loan limit increase expires Dec. 31, 2013

Wednesday, December 18, 2013
The U.S. Department of Housing and Urban Development (HUD) has announced that the temporary loan limits it established as part of the Housing and Economic Recovery Act of 2008 will expire Dec. 31, 2013. The loan limits for FHA-insured loans in high-cost areas, which were temporarily raised to $729,750, will be reduced to the FHA permanent limit of $625,500 beginning Jan. 1, 2014.
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REALTOR®: REALTORS® urge Congress to pass legislation to delay flood insurance rate increases

Wednesday, December 11, 2013
A bill that would delay flood insurance rate increases is currently stalled in Congress. With just a few days left before the end of the legislative session this year, REALTORS® at the local, state and national level are contacting their members of Congress and urging them to pass the Homeowner Flood Insurance Affordability Act. REALTORS® say this bill will help millions of homeowners who are facing sudden and extreme increases in flood insurance premiums that went into effect Oct. 1.
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REALTOR®: Recent surveys indicate buyer home feature preferences

Wednesday, December 11, 2013
Buyer optimism about the housing market has risen dramatically over the past five years. With this in mind, REALTORS® and builders are taking note of features buyers want and what they don't want in a new home.
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REALTOR®: California distressed home sellers not liable for federal or state income tax on short sales

Wednesday, December 4, 2013
The California Association of REALTORS® (C.A.R.) announced on Wednesday that it received a letter from the California Franchise Tax Board (FTB), obtained by Board of Equalization member George Runner, clarifying that California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a short sale.
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REALTOR®: American Dream still alive among California's young renters

Wednesday, December 4, 2013
California's young renters continue to value homeownership and hope in time to achieve the American Dream of homeownership, according to the “2013 Renter Survey” conducted by the California Association of REALTORS® (C.A.R.).
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