Talega Green Sheet Article - May 2012

As we move into the summer months and the selling season, Talega inventory remains very low.   There are only 27 homes Available in Talega as of today.  Here is the breakdown:  3 Condos (1 in the Gallery, 1 Bank Owned, 1 Regular Sale) and 24 Single Family Homes (5 in the Gallery, 1 Bank Owned, 4 Short Sales, 14 Regular Sales).  16 of the homes are under $1,000,000 and only 6 homes are under $800,000 that are not in the Gallery.   The average days on market of properties under $1,000,000 has now dropped to 26 days.  Interest rates are amazingly low and there is a large pool of buyers that are trying to buy a house.  Now you know why this market is so hot right down. 

For those of you still in a Short Sale situation, the market is getting better so you will have to check your current home value. However, there is something very important that you need to be paying attention to that is expiring on 1/1/2013.   That is the Mortgage Debt Relief Act and Debt Cancellation for both California State and the Federal Government.   This is the law that allows home owners to waive the debt cancellation tax when they short sale their home, if they qualify.  There has been almost no talk about either State or Federal Government extending this Act at that this time.   If you are in a short sale situation, I recommend that you look up on the internet the Mortgage Debt Relief Act and get educated on the qualifications and time frames.  I believe if they do not extend the expiration date it could have a big impact on our market in the second half of the year. 

As always, if you are considering leasing, buying, or selling Real Estate, please call me for a confidential appointment.  I handle residential sales, leasing, investment properties and commercial properties.  I handle all price ranges from condos to estates in San Clemente, Dana Point, San Juan Capistrano and other coastal communities.  I believe in providing personal service at the highest level combined with the absolute best marketing.  My professional, comprehensive approach to selling homes will help you obtain the highest value for your property, in the shortest amount of time.  My Group is selling 60% more homes and 73% more buyer sales than my nearest competitor in San Clemente.  To learn how you can benefit/save money from San Clemente’s top producer, contact me at 949-498-7711 or email me at doug@echelberger.com.