Retail/ Office space for Sale in Victorville

http://www3.CARETScommercial.com/epropertydata/2119697462818

Randy E. Guth                                                  
1450 University Ave. Suite F2 Riverside, CA 92507 Ph 951-300-1010 Fax 951-300-1021 Cell 951-347-9773 Rguth@exitgmw.com

http://www.searchhomesinlandempire.com/
http://www.exitinlandrealty.com/

For a short video on the EXIT story please go to www.ExitRealty.com <http://www.exitrealty.com/> and click 'Up Close and Personal with EXIT'



MORTGAGE DELINQUENCY RATE DROPS NEARLY 25% IN LAST YEAR

Mortgage Delinquency Rate Drops Nearly 25% in Last Year
The mortgage delinquency rate (the rate of borrowers 60 days or more delinquent on their mortgage) dropped 23.3 percent in the past year, ending the third quarter at 4.09 percent, down from a year earlier when the rate stood at 5.33 percent, according to data gathered from TransUnion’s proprietary Industry Insights Report. The mortgage delinquency rate also dropped on a quarterly basis, down 5.3 percent from 4.32 percent in the second quarter, the seventh straight quarterly decline.

All 50 states and the District of Columbia experienced a decline in their mortgage delinquency rate between third quarter 2012 and third quarter 2013. Five states – California, Arizona, Nevada, Colorado, and Utah – experienced declines of 30 percent or more in their mortgage delinquency rate. Three states – California, Florida, and Nevada – had double-digit percentage drops in the last quarter.

TransUnion's latest mortgage report also found that the non-prime population (those consumers with a VantageScore® credit score lower than 700) continues to represent a smaller portion of all mortgage loans, more than 50 percent lower than was observed in 2007. Non-prime borrowers constituted 5.82 percent of all new mortgage originations in the second quarter.

TransUnion is forecasting that the downward consumer delinquency trend will continue in the final three months of 2013. The delinquency rate will likely be just under 4 percent at the end of the year.

Randy E. Guth                                                  
1450 University Ave. Suite F2 Riverside, CA 92507 Ph 951-300-1010 Fax 951-300-1021 Cell 951-347-9773 Rguth@exitgmw.com

http://www.searchhomesinlandempire.com/
http://www.exitinlandrealty.com/

For a short video on the EXIT story please go to www.ExitRealty.com <http://www.exitrealty.com/> and click 'Up Close and Personal with EXIT'

IRS and Short Sales



No Federal Debt Relief Income Tax on Short Sales
C.A.R. has been working with California Sen. Barbara Boxer to protect distressed homeowners from debt relief income tax associated with a short sale in California.  As part of this effort, Sen. Boxer requested the Internal Revenue Service (IRS) to provide guidance on whether mortgage debt forgiveness in a lender-approved short sale would be taxable income under federal law, given California’s recent non-recourse laws for short sales, which were hard fought victories by C.A.R.

The IRS has clarified in a letter that California’s troubled homeowners who sell their homes in a short sale are not subject to federal income tax liability on “phantom income” they never received.  The IRS recognizes that the debt written off in a short sale does not constitute recourse debt under California law, and thus does not create so-called “cancellation of debt” income to the underwater home seller for federal income tax purposes.  This clarification rescues tens of thousands of distressed home sellers from personal liability upon expiration of the Mortgage Forgiveness Debt Relief Act of 2007 on Dec. 31, 2013.

C.A.R. is seeking a similar ruling from the California Franchise Tax Board (FTB), which has been awaiting the IRS action; C.A.R. anticipates the FTB will act promptly.  Short sales may raise other tax issues and, as always, REALTORS® should advise their clients to speak with their tax professional regarding the tax consequences of a short sale. C.A.R.’s Legal Department has prepared a Realegal to further explain the IRS’s clarification.

Randy E. Guth                                                  
1450 University Ave. Suite F2 Riverside, CA 92507 Ph 951-300-1010 Fax 951-300-1021 Cell 951-347-9773 Rguth@exitgmw.com

http://www.searchhomesinlandempire.com/
http://www.exitinlandrealty.com/

For a short video on the EXIT story please go to www.ExitRealty.com <http://www.exitrealty.com/> and click 'Up Close and Personal with EXIT'



Servicing / The Ticker

Housing market remains resilient during seasonal slowdown

HousingWire Staff

November 14, 2013 11:15AM

1 Comment

According to Redfin, as the holiday season nears, the housing market is showing signs of stability and even resilience through the seasonal slowdown. Redfin has more:

The 19-market median sales price is up 15.3 percent year-over-year at $327,302, Redfin said.
Month-over-month prices ticked down slightly with a 0.9 percent decrease. Home sales were up 0.6 percent over last year’s very strong October with 74,363 homes sold this month. Inventory continues to be the low point in the housing market, down 10.4 percent over last year, and down 5.5 percent from last month. As we said last week, shifting market conditions, such as reduced competition and falling mortgage rates, likely sustained demand in October.

1736 W Admiralty St Colton CA

1736WAdmiralty.homes7.com

1736 W. Admiralty St., Colton, CA
Two stories, 1726 Sq. Ft. Home, Built in 1988.		Offered At $259000 4 Bedrooms, 3.0 Baths For more information on this property, Click Here!
For More Information Contact:
Randy Guth Owner/Agent Web: SearchHomesInlandEmpire.com E-Mail: Randy@SearchHomesInlandEmpire.com Phone: (951) 347 9773 Exit Inland Realty

Refi Activity Runs Out of Steam



Refi Activity Runs Out of Steam
Source: The Wall Street Journal

In comparison to last year, applications to refinance a mortgage have decreased by 57 percent. Since mortgage rates started rising last spring, refinance activity fell sharply, particularly in the second half of 2013.Read the full story

Randy E. Guth                                                  
1450 University Ave. Suite F2 Riverside, CA 92507 Ph 951-300-1010 Fax 951-300-1021 Cell 951-347-9773 Rguth@exitgmw.com

http://www.searchhomesinlandempire.com/
http://www.exitinlandrealty.com/

For a short video on the EXIT story please go to www.ExitRealty.com <http://www.exitrealty.com/> and click 'Up Close and Personal with EXIT'

An Important Update on Mortgage Debt Forgiveness



An Important Update on Mortgage Debt Forgiveness

An Important Update on Mortgage Debt Forgiveness

The IRS has clarified in a letter that California’s troubled homeowners who sell their homes in a short sale are not subject to federal income tax liability on “phantom income” they never received.  The IRS recognizes that the debt written off in a short sale does not constitute recourse debt under California law, and thus does not create so-called “cancellation of debt” income to the underwater home seller for federal income tax purposes.  This clarification rescues tens of thousands of distressed home sellers from personal liability upon expiration of the Mortgage Forgiveness Debt Relief Act of 2007 on Dec. 31, 2013. 

C.A.R. is seeking a similar ruling from the California Franchise Tax Board (FTB), which has been awaiting the IRS action; we anticipate the FTB will act promptly.  Short sales may raise other tax issues and, as always, you should advise your clients to speak with their tax professional regarding the tax consequences of a short sale.

Randy E. Guth                                                  
1450 University Ave. Suite F2 Riverside, CA 92507 Ph 951-300-1010 Fax 951-300-1021 Cell 951-347-9773 Rguth@exitgmw.com

http://www.searchhomesinlandempire.com/
http://www.exitinlandrealty.com/

For a short video on the EXIT story please go to www.ExitRealty.com <http://www.exitrealty.com/> and click 'Up Close and Personal with EXIT'