Fremont Real Estate Blog

From DS News   All-Cash Sales Reach New High In November All-cash purchases accounted for 42 percent of all residential property sales in November, up from 38.8 percent in October and also up from a year ago to the highest level since RealtyTrac began tracking all-cash purchases in January 2011, the company reported. States with the highest percentage of cash sales included Florida, Georgia, Nevada, and South Carolina--all with more than half of the homes sold last month purchased with cash. » Read More   - S unil Sethi SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App" . Want to know if you qualify for any special loan programs. Check out CAR's Mortgage Directory    Love Us on Yelp!      Like Us on Facebook  

From CAR LEGAL UPDATE Short Sales Not Subject to State or Federal Income Tax for Cancellation of Debt Short sales in California are generally not subject to state or federal income tax for cancellation of debt. The Franchise Tax Board (FTB) issued a letter on December 4 stating that, as nonrecourse obligations, short sales in California are not subject to state income tax for cancellation of debt. The FTB's position conforms with the federal treatment of short sales stated in an IRS letter dated September 19. These letters will provide welcome relief for short sale sellers given that the tax break for a qualified principal residence under the federal Mortgage Forgiveness Debt Relief Act of 2007 will expire at the end of this year, and similar protection under California law already expired in 2012. The FTB letter includes transactions that closed in 2012 but, as always, sellers should consult with their own tax professionals. According to the recent FTB letter, "a California

From DS News FHA to Bring Down Loan Limits for 2014 The Federal Housing Administration (FHA) is lowering loan limits on single-family mortgages next year, HUD announced. The federal agency's maximum ceiling for single-family loans will drop from $729,750 to $625,000. HUD estimates about 650 counties will see lower thresholds in 2014. Exceptions have been extended to counties in Alaska, Hawaii, Guam, and the Virgin Islands to account for greater construction costs. » Read More   - S unil Sethi SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App" .    Love Us on Yelp!      Like Us on Facebook  

Thanks for Sharing Jay.   2013 Tax Changes for Individuals Here's what individuals and families need to know about tax changes for 2013. 2013 Tax Changes for Businesses Whether you file as a corporation or sole proprietor here's what business owners need to know about tax changes in 2013. 10 Tax Breaks Set to Expire in 2013 Federal tax breaks come and go, and this year is no different. Unless Congress takes action, 55 of them are set to expire on December 31, 2013. Let's take a look at the ones that are most likely to affect taxpayers like you. Tap Your Retirement Money Early; Minimize Penalties There are ways to withdraw funds early from retirement plans like your 401(k) without getting hit with a tax penalty. Tax Tips Retirement Contributions Limits Announced for 2014 10 Things to Know About Capital Gains Are Your Social Security Benefits Taxable?   Tax Due Dates December 10 Employees who work for tips - If you received $20 or more in tips during November, report them to

  I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date. Housing Inventory Snapshot November 27, 2013   Average List Price for active listings Median List Price for active listings Average DOM: for active listings/ for sold listings Alameda County, CA Single Family under $1M $505,374 $488,000 62  / 63 Single Family over $1M $1,969,047 $1,499,000 93  / 70 Condo/Townhome under $600K $372,143 $356,000 56  / 61 Condo/Townhome over $600K $785,123 $699,900 43  / 51 San Mateo County, CA Single Family under $1M $701,707 $699,000 55  / 29 Single Family over $1M $4,172,517 $2,299,000 91  / 12 Condo/Townhome under $600K $414,804 $425,000 42  / 17 Condo/Townhome over $600K $918,259 $798,000 58  / 13 Santa Clara County, CA Single Family under $1M $670,613 $659,000 54  / 21 Single Family over $1M $2,776,867 $1,949,000 85  / 20 Condo/Townhome under $600K $400,985 $380,000 60  / 41 Condo/

From CAR   SHORT SALES NOT SUBJECT TO STATE OR FEDERAL INCOME TAX FOR CANCELLATION OF DEBT Short sales in California are generally not subject to state or federal income tax for cancellation of debt. The Franchise Tax Board (FTB) issued a letter yesterday  stating that, as nonrecourse obligations, short sales in California are not subject to state income tax for cancellation of debt. The FTB's position conforms with the federal treatment of short sales stated in an  IRS letter  as we previously reported on November 15. These letters will provide welcome relief for short sale sellers given that the tax break for a qualified principal residence under the federal Mortgage Forgiveness Debt Relief Act of 2007 will expire at the end of this year, and similar protection under California law already expired in 2012. The FTB letter includes transactions that closed in 2012 but, as always, sellers should consult with their own tax professionals. According to the recent FTB letter, “a Califor

We’ve got schools, central location, mass transit options, and a lot to appeal to ethnically diverse population that works in Silicon Valley, and did I mention we’re cheaper than Cupertino, Palo Alto and Atherton.   http://www.bizjournals.com/sanjose/news/2013/12/02/fremont-san-jose-san-francisco-home.html     - S unil Sethi SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App" .    Love Us on Yelp!      Like Us on Facebook