Are we facing a “Short Sale Cliff?”
Preliminary Data Suggests Impact from Expiration of the Mortgage Forgiveness Debt Relief Act. For those of you looking to short sale your home, as of January 1st, the government did not extend the mortgage forgiveness debt relief act that has been in place, excusing Oregon home owners from having to pay taxes on the amount forgiven by the bank. In other words, if the bank is willing to forgive a seller $200,000 on the property they are short selling, they will be paying taxes on the $200,000 as if it were INCOME. Ouch! Here is a good article about it. Please feel free to call me or email me...
Read MoreHave you considered an ” Additional Dwelling Unit ” ?
I have recently been working with a lot of people who are interested in ADU’s (Additional Dwelling Unit) on their property. Whether it’s a guest house for friends and family or something for the aging parent, we are seeing more and more need for this type of structure. Here’s an excellent website about these in the Portland area – http://accessorydwellings.org/ If you have any questions about ADU’s or any other Real Estate related topics.. I’d love to help. Email me at: karolyn@karolynwold.com or call me at: 503.860.3664 Thanks!...
Read MoreCouple from SF love Portland!
I helped a couple find a home here last month who have lived in San Francisco for the past 20 years. They have grown tired of the rising costs and all the changes in the Bay area. I thought they were so brave. They researched different cities and areas and decided that Portland, Oregon had the most to offer for them in their retirement years. They contacted me through the Zillow system after (I’m sure) reading about many realtors there. Janet called me and we had a long conversation. She decided I would be a good match for the two of them. We worked long distance for the next...
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