California Legislature and Governor Agree on Short Sales

Published 04-09-10 by Tony Hunthausen

The California State Legislature and governor finally came to an agreement on a bill to eliminate state income taxes on home owner debt relief obtained in a short sale. Considering there are just a few days until tax time on April 15th, our representatives in Sacramento cut this one pretty close.

Senate Bill 401 by Sen. Lois Wolk, D-Davis, was passed today by both houses of the legislature. It provides tax relief for mortgage debt forgiveness for tax years 2009 through 2013. Reliable reports are that Governor Schwarzenegger’s has indicated he will sign the legislation.

This is very good news for those in the process of doing a short sale or considering one. The new law now makes Californai tax code consistent with the Debt relief act of 2007 at the Federal level. More information on the federal program , including detailed examples, can be found at IRS.gov in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17.

Buying a Home, When You Need to Sell First.

Published 02-08-10 by Tony Hunthausen

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When you are in a situation where you need to sell your home before buying, it is important to talk to a REALTOR to discuss your options. Oftentimes in a low inventory market (like we are experiences now) you need to have your home in escrow or sold before a seller will consider you a serious buyer. We can help negotiate a way to make this process run as smoothly as possible for you.

Important Things to Consider When Buying a Home.

Published 12-17-09 by Tony Hunthausen

This week Tony Hunthausen shares important things to consider if you are thinking of buying a home. Feel free to contact Tony Hunthausen for any of your Real Estate questions or needs.

Hunthausen Group is the premier Real Estate Team for Huntington Beach and surrounding areas. SellingHuntingtonBeach.com is a comprehensive website with up-to-date local real estate information and breaking news. Consider the experts at Hunthausen Group for all your Real Estate needs. A portion of the proceeds of each transaction go to supporting the needs within the local community.

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