The mortgage debt relief act of 2007 says that a homeowner has the right to have forgiven debt cancelled for tax purposes. Meaning the amount that your bank writes off during the short sale process cannot be taxed as income. Normally on forgiven debt the bank is required to issue a 1099-c, “cancellation of debt” [...]
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Can a Home Warranty Cover Items Found During Inspections?
The American Home Shield (AHS) FlexPlan Combo Seller/Buyer Plan can! When the AHS Seller/Buyer FlexPlan Combo Home Protection Plan is placed on a home prior to Seller and/or Buyer completing inspections, AHS can help overcome inspection issues and pave the way to a smoother closing for all parties involved in the transaction. Without the Seller [...]
“Undetectable Pre-existing Conditions” Home Warranty Coverage
Could a Mechanical Failure Immediately After Close of Escrow be Considered a Pre-existing Condition? Certainly it can, but with the American Home Shield (AHS) FlexPlan Combo Home Protection Plan, failures immediately after close of escrow are typically covered items under our “Undetectable Pre-existing Conditions” clause. Our terms and conditions state that AHS will cover a [...]
Apartment Sales In Reno Show Promise
Greetings, I read an article today about our re-surging apartment sales market in Reno. Many commercial brokers are optimistic this particular sector will continue to improve because of the lowering vacancy and lack of new construction. Apartment vacancy is currently running at 6.56% according to the appraisal firm of Johnson Perkins, who tracks all apartments [...]
It’s Official I now hold 2 Licenses with the Nevada Real Estate Division.
It’s been months in the making. Lot’s of time. effort, and some really hard tests went into getting certified as an Building Analyst Professional. But last year the Nevada Legislator passed AB423 that required Energy Auditors to be Licensed by the Nevada Real Estate Division. The Energy Auditor will come under NRS 645D. This is the [...]
Owning Investment Properties Can Be Affordable
Did you know that you can cover your Reno and Northern Nevada income properties, investment properties or rental properties with a Fidelity National Home Warranty? And, if you have five or more properties you may qualify for a discount! A Fidelity National Home Warranty (FNHW) can save you money on repairs and/or replacement of a [...]
Ticor Title Washoe County Foreclosure Statistics For February 2012
To get a better understanding of where we were and where we are going in the foreclosure market, Ticor Title Company started tracking Foreclosure trends in Washoe County in 2007. In the foreclosure trend line, Ticor shows the total recordings for each month of Notices of Default, Notice of Sale, and Trustee Deeds. For the past few months, since the [...]
A whole different perspective
Inspectors look at a home with a whole different perspective than other people, even contractors. We have a routine that maintains a consistent process; after all we do it everyday. Those of us that have been around for a long while have our habits and idiosyncrasies. We know what to look for and know what’s [...]
How Soon Can I Purchase After a Short Sale?
Over the last four years many home owners have short sold their home for various reasons. For those home owners that short sold their home, your wait time can be as long as 7-years from the completion date of the short sale before you are eligible for a mortgage loan. Conventional, FHA, and VA loans [...]
Venting about Excessive Attic Moisture
When damage from excessive moisture in attics is seen the first thing that comes to mind is to increase ventilation. This common solution may or may not do anything to reduce the moisture damage in the attic. Attic ventilation is important and required for not only roof longevity but also prevention of ice damming. We [...]
