The American Taxpayer Relief Act of 2012 passed both the House and the Senate over the past couple of days. The bill is on it’s way to the White House where President Obama has stated he will sign it into law as soon as possible.
While the primary thrust of the bill was to prevent massive tax increases there were a number of “extenders” in the bill as well.
According to the National Association of REALTORS®, “Of most interest to real estate, the bill would extend mortgage cancellation relief for home owners or sellers who have a portion of their mortgage debt forgiven by their lender, typically in a short sale or foreclosure sale for sellers and in a modification for owners. Without the extension, any debt forgiven would be taxable, which, for underwater households, represents a financial burden.”
This is good news for many Americans who are working through a short sale, deed-in-lieu, or a foreclosure. Without an extension of the Mortgage Forgiveness Debt Relief Act, many of these people would have owned thousands of dollars to the IRS as a result of the distressed sale of their primary residence.
Have questions about short sales? Contact us at 214-227-6626.
The Shops at Legacy in Plano, Texas has become one of the premier areas in north Plano for dining, shopping, entertainment, and urban living. Gina and I enjoy Sambuca 360, Nicola’s, Jasper’s, Taco Diner, and Seasons 52.
The holiday lights are spectacular. After enjoying a nice meal, we often stroll along Bishop enjoying the lights and stopping in for an after-dinner Irish Coffee or a nice glass of wine at one of the many local stores that line the street.
Mention Dallas to someone not from Texas and they see oil wells and horses. Much of the stereotype comes from watching JR Ewing in the television series, Dallas. Most of the greater Dallas area is like any other suburban area in the country with homes on smaller lots and not an oil well or horse in sight.
The good news for people looking for horse-friendly homes is that there are plenty of homes in the North Dallas area where you can enjoy your horses. While there are a few in Plano, the vast majority of horse-friendly homes are located along the out edges of the North Dallas area.
While there are plenty of older homes, you’ll find a fair-share of new construction in areas allowing horses. The North Dallas area truly has something for every type of home buyer!
While we are in the middle of a cold spell in the greater north Dallas area, spring is not far off.
With arrival of warmer weather comes the start of our sales season. A number of our clients tell us they will be looking for a home with a pool this year.
We typically advise clients looking for pool homes in Plano to find a home with the pool already installed. It’s far more cost effective to update an older kitchen for $15k than it is to have a $45k pool and spa built.
Lexington Park at Rice Field is a luxury town home community conveniently located just two blocks from the Downtown Plano DART rail station. These three-story townhomes range in size from 1658 square feet to 2351 square feet per building plans. Prices begin at $159,880.
The Branch Team is pleased to announce the grand opening of Lexington Park at Rice Field. The doors officially open at 10 AM on Saturday, December 8th on this luxury town home community.
Located two blocks from the Downtown Plano DART light rail station, Lexington Park at Rice Field is a brand new urban community. These three-story townhomes range in size from 1658 square feet to 2351 square feet per building plans. Prices begin at $159,880.
IMPORTANT NOTICE:
Gina Branch with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender.
Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your
home and damage your credit rating.
The American Taxpayer Relief Act of 2012 passed both the House and the Senate over the past couple of days. The bill is on it’s way to the White House where President Obama has stated he will sign it into law as soon as possible.
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Mention Dallas to someone not from Texas and they see oil wells and horses. Much of the stereotype comes from watching JR Ewing in the television series, Dallas. Most of the greater Dallas area is like any other suburban area in the country with homes on smaller lots and not an oil well or horse in sight.
While we are in the middle of a cold spell in the greater north Dallas area, spring is not far off.
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