Selling your Buffalo Grove home in today's market
begins with picking the best realtor

 Are you going to sell your Buffalo Grove home?  Finding the best realtor is an important decision.How do you make a knowledgeable decision  of which realtor  to hire...  Here's the scenario...you just interviewed 3 local[...]

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http://judygreenberg.com/post/1400684/selling-your-buffalo-grove-home-in-today-s-
market-begins-with-picking-the-best-realtor

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GSE Pass-through Players Gird for the New Year

Two major concerns for value hang over the pass-through market right now: the anticipated end to the Fed’s MBS purchase plan March 31, 2010 and the likelihood of a sharp jump in involuntary prepayments in GSE pass-throughs (due to modifications and other foreclosure avoidance efforts and foreclosures, which trigger a buyout of the loan from [...]

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http://feedproxy.google.com/~r/HousingWire/~3/vWpj3K5mIL4/

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Riding the Same Wave in Carmichael & Fair Oaks

I’m wrapping up an appraisal report tonight for an investor in Carmichael. While crunching numbers for my appraisal, I wanted to do a little comparison of sales in Carmichael and Fair Oaks. So I graphed detached single family residential sales (from MLS) over the past three years and came up with the following. I only included properties [...]

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http://sacramentoappraisalblog.com/2009/12/28/riding-the-same-wave-in-carmichael-
fair-oaks/

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66 Ways to Connect with Prospects

If you think it?s been a tough year, bad market and find yourself thinking from a scarcity point of view, you might find yourself believing that there is little you can do to get more business?Think again! Before you go with ?scarcity thinking?, expert Harvey MacKay gives us 66 creative and meaningful ways to connect with even the most elusive prospects. MacKay is the bestselling author of ?Swim with the Sharks Without Being Eaten Alive?. He says, ?Anyone can get the order if he?s willing t...

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http://www.realty30.com/article/3704/66-Ways-to-Connect-with-Prospects

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Freefall in LCD Prices

So the old 27and#8243; Sony TV and#8212; a 32and#8243; CRT in the bedroom is finally dying. Turn it on, and the sccreen goes to on and off until its warmed up (after that its fine). I want to replace it with a bigger flat panel and#8212; I want 37and#8243;, the wife insists on smaller. Looks like 32and#8243; will be the compromise. I am torn between getting something really nice or a something thatand#8217;s a really good deal. I am leaning towards the latter.  The big TV in the den is kick...

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http://www.realty30.com/article/3703/Freefall-in-LCD-Prices

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The man who claims he's the "victim" of identity
theft, Bernardo Barrera.

As I mentioned last week, during the holiday break we're going to summarize the pertinent facts of the Bernardo Barrera mortgage fraud case. What better way to start than taking another look at the man who claims his identity was stolen, Bernardo Barrera?

1. Let's begin by illustrating a previous mortgage fraud that Mr. Barrera had committed. If Detective Baluja would have checked into this prior fraud that Mr. Barrera had been involved in, perhaps he would have looked at the case a bit differently.
   
2. Moving along, we then learn that Mr. Barrera diligently monitors his credit history through the use of several different credit monitoring services. Although he monitors his credit history he forgets to mention the activity on his credit before the closing of the Oak Avenue home, he only mentions that he was alerted to the new loan on his credit report 30 days after the closing. Bizarre as any activity is noted on your credit report literally instantaneously.
3. WHOOPSIE!! We now learn that Mr. Barrera just a few months before he claimed his identity was stolen for the purchase of the Oak Avenue home HAD HIS IDENTITY STOLEN IN ANOTHER FRAUDULENT TRANSACTION! UH OH! This timing of when the police report was given for this transaction is HIGHLY SUSPECT. If Detective Baluja would have compared the dates of this identity theft and the Oak Avenue transaction, I think he would have been highly surprised, not to mention all sorts of red flags should have gone up if he would have taken a look at the activity on Mr. Barrera's credit around this time.
4. We go on to learn that Mr. Barrera opens up a corporation with a rather strange name and an address that leads to an empty lot. Why would you do such a thing? It's got to be a real pain in the ass trying to conduct business out of a dirt lot! Suspicious to say the least.
5. We're now introduced to the foreclosure case that arose out of the fraudulent purchase of the Oak Avenue home and then get an opinion from one of the lawyers involved in the foreclosure case regarding Mr. Barrera's involvement in the fraud. Amazing how easily evident his involvement is to this attorney, yet no one at the PD or the SAO can draw the same conclusion.
6. In case there was any doubt of Mr. Barrera's involvement in the fraud, take a close look here and if that wasn't enough check this as well.  I don't know how you can deny all the documentation that was addressed to Mr. Barrera by Citi Mortgage regarding the Oak Avenue home purchase let alone all the other information that he had regarding the transaction.  Interestingly enough, all the information in those two posts came right out of the lead Detective's own file yet he chose to do nothing about it. 
   
7. UH HELLO!  DETECTIVE BALUJA, ASA KOSTRZEWSKI!  DO YOU NEED ANY MORE EVIDENCE THAT MR. BARRERA WAS INTIMATELY INVOLVED IN THIS FRAUD?  DUH!  He knows nothing about the mortgage fraud or the identity theft and evidently either does the lead detective or the assistant state attorney.

The ladies and gents effectively sums up the states victim in the Oak Avenue mortgage fraud/Identity theft case.  I can't wait to see Mr. Barrera before a jury!


Read The Full Article:
http://thestrawbuyer.blogspot.com/2009/12/man-who-claims-hes-victim-of-identity.h
tml

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Securing a Loan as a First-Time Buyer: Ask a
REALTOR

      With the economy the way it has been in the past year, banks are less likely to give loans than they were previously, although the market is better now for buyers. Will buyers with less than perfect credit have opportunities to refinance their debt and be considered eligible for a home loan for first-time buyers?   The last thing we want to do is to allow people to buy a home just because it sounds good on the  news. The reason we are in the mess is in large part because ou...

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http://www.realty30.com/article/3702/Securing-a-Loan-as-a-First-Time-Buyer-Ask-a-
REALTOR

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Is It Better To Sell My Relinquished Property in
2009 Or Postpone Until 2010

Taxpayers have only four more business days to get transactions structured and closed until 2010 hits us right between the eyes.  First of all, yikes, where did 2009 go?  Second of all, thank God we are moving into 2010, which promises to be a much better year than 2009.

Closing By Year-End

Now to the question of when to close on the sale of your relinquished property.  It has always boggled my mind during the 24 years that I have been in the 1031 Exchange industry that so many taxpayers want to close on their relinquished property before year-end when they are structuring a 1031 Tax Deferred Exchange. 

Why put so much pressure on yourselves?  Its a tax-deferred exchange, so its tax deferred and it shouldn't matter when you close on the sale of your property assuming that all other relevant factors are equal.  However, let's discuss some of the basic reasons why, and then get to the question. 

The Buyer

Certainly, the buyer may wish to close by December 31st in order to obtain any number of benefits, including tax benefits, of owning the property before year-end.  The tax benefits can often be tremendous, or losing tax benefits that may expire at year-end may be very expensive.  So, the buyer may have motives for doing so. 

There may be other reasons as well, such as deploying investment capital by year-end, shoring up the balance sheet ("window dressing") for year-end financial statements, etc. 

The Seller

Generally, the seller completing the 1031 Tax Exchange shouldn't care, but some of the same reasons my apply.  They may want to get the property off their balance sheets by year-end, may want to reduce the amount of outstanding debt before December 31st, etc., just to name a few of the more obvious reasons. 

When to Sell/Close

One or both parties may wish to close on the property for some of the reasons stated above, or other reasons, in which case, it certainly does make sense to sell and close on the property before December 31st. 

However, barring other benefits, detriments, or issues not mentioned here, there is no real benefit from a 1031 Exchange perspective to closing in 2009 or 2010, unless you are concerned that your 1031 Tax Exchange may fail (i.e. you are not able to acquire replacement property). 

A failed or incomplete 1031 Exchange is generally taxable in the year of sale or the year in which the taxpayer has the right to receive their 1031 Exchange proceeds from the Qualified Intermediary.  This is the one main issue that taxpayers should consider when selling relinquished property in order to answer the question when should they close because it may affect their income tax situation. 

As yourself the following questions:

• Will closing in 2009 versus 2010, or vice versa, potentially place myself in a higher income tax bracket because of the 1031 Tax Deferred Exchange?
• Will closing in 2009 trigger my 45 day and 180 day deadlines before I am ready to?
• Would closing in 2010 buy me more time to look for and identify suitable replacement properties to be acquired through my 1031 Exchange? 
• Will closing earlier or later help or hurt my borrowing position? 
• Will closing in 2009 hold up the filing of my income tax return if I have not completed the acquisition of my replacement property?

There are probably many more question like this that should be addressed, so you should always consult with your legal and tax advisors before proceeding with your 1031 Tax Deferred Exchange.  Copyright 2006-2010 by William L. Exeter. All Rights Reserved. (866) 393-8377

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http://exeterco.blogspot.com/2009/12/is-it-better-to-sell-my-relinquished.html

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HUD Charges Las Vegas Real Estate Broker and
Owners with Violating Fair Housing Act

HUD Charges Las Vegas Real Estate Broker and Owners with Violating Fair Housing Act

Friday, December 18, 2009, 4:00:00 AMWASHINGTON - The U.S. Department of Housing and Urban Development (HUD) today announced that it is charging a Las Vegas real estate broker and two homeowners with violating the Fair Housing Act by denying a mother of seven the opportunity to rent a four-bedroom home because they thought she had too many children. The owners of the house instead rented to a couple with one child. The Fair Housing Act prohibits housing discrimination based on family status, including discrimination based on the number of children.

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http://harriscompanyrec.com/blog/2009/12/hud_charges_las_vegas_real_est.html

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Noah's 2010 Predictions

A: Lets keep it going. You can view my 2009 predictions, 2008 predictions, and 2007 predictions by clicking on the appropriate links. By no means should these predictions be taken in an advisory capacity; rather, they are my gut feelings on a few main topics based on information I have on hand at the time of the writings. I urge you to put yourself back into 'time and place' when the predictions were written. Since hindsight is 20/20, often I find many to believe the past was easily predi...

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http://www.realty30.com/article/3701/Noahs-2010-Predictions

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