It should come as no surprise that most listings expire in the Santa Clarita Valley and in the rest of the United States December 31 at 2400hrs. You can see we have had a bunch of listings expire so the sellers can re-evaluate who they had hired or adjust to the new governmental issues that may be brought about by the Fiscal Cliff.
There is one “shred” of good news related to the Fiscal Cliff – the Debt Forgiveness act has been extended. So those of our Short Sale Sellers in the Santa Clarita Valley will be elated to hear this news. For another story about the issues concerning the Fiscal Cliff being “kicked down the field” – click here.
Click the link above for the listings that expired on the 1st of January. You can be sure that the Santa Clarita real estate agents are going to be working these listings hot and heavy. They will pitch the owners by asking if they are ready to hire the right agent. I’d say those agents using that technique should throw caution to the wind. The sellers are not stupid and hired the first agent for a reason. Don’t be offensive, just tell them why their home did not sell and how you can be their savior.
The Fiscal Cliff, Averted?
I’m not big into politics. However, I do know enough to make me dangerous 🙂 The one thing you have to know is that the Fiscal Cliff has been avoided, at least for now.
The United States Senate was hard at work during the early morning hours today (January 1st). They voted and passed the American Taxpayer relief act of 2012. That will extend tax rates for most families in America. However, as of present, it’s being debated in the House of Representatives. We then will need the President’s signature. More on that to follow.
Investors are not out of the game in 2013 – the Long Term Capital Gains Tax has been held at the 15% level for individuals that are earning less that $450k (jointly). That will free up investors that are going to be selling the the coming months and may do a great job adding to the current Santa Clarita real estate inventory. I know our buyers are going to be happy with this one.
If you are an homeowner here in the Santa Clarita Valley – there was another part of the bill that was approved to keep the sale of your primary residence Tax Free. The criteria is you have to profit $250k or less ($500k for married couples) from the sale of your primary residence. Also – if you are earning over $450K a year in income – it does not apply to you 🙁
Talking about the other issue with the Fiscal Cliff – that is the debt forgiveness act. When you are short selling a home or having one foreclose – the difference between the amount of your loan and the amount the home sold for is typically taxed as income. The same as being in Vegas, putting $1,000 on the number 17 while playing roulette and having it hit. The IRS will not be left behind and will get their money when you cash in your chips. The extension of the Debt Forgiveness act is one that is going to have our Santa Clarita short sale sellers elated!!!
Some of these issues still need the president’s signature. But we are confident it will happen.
Buying a home and Focusing on a Neighborhood:
Some of our clients want to be in a specific neighborhood. They want to live where they want to live. The only issue with that comes in the way of having “available inventory” to sell. It may be that there are no homes for sale and no homes in distress. Both of those items are track-able by our Paris911 Resources. The next step is to contact the homeowners that live in those areas and hit them up for our buyers. We do this primarily by interrupting marketing. You have probably read what we write about how we Hate those that use Interruption marketing – however in this case we make exceptions. Santa Clarita MacBoX resource: click here for our post about Interruption marketing.
Our contacting the sellers in specific neighborhoods with a specific buyer or buyers is the exception. Our intentions are made very clear and that if the buyer we are representing chooses not to purchase the home, the sellers are off of the hook if they want to be. We maintain a very exclusive real estate buyers list within our Paris911 Team, spread across the 5 full time real estate agents that compose Paris911. We also want to always make certain that we keep those buyers cross checked within our systems so when something hits, that may not be for sale at the present time, we can watch, approach and capture. Santa Clarita MacBoX resource: Click here for an explanation of our One Party show.