If I had only known

These are words we never want to hear ourselves saying, especially as it relates to selling your home. I recently met a former homeowner who now has a very nasty tax issue as a result of not understanding the consequences of debt forgiven by a lender when they completed a short sale. Unfortunately he was not using an agent who had much experience. The agent told him about the law passed in 2007 which allows the IRS not to count debt forgiven by a mortgage lender as income. She did the right thing and told her client to talk to an accountant but she appeared knowledgeable and he confirmed with a friend that this was true so completed the transaction. This happens every day and if you or someone you know is considering a short sale please read my column, “Important Short Fall Lessons,” over at Rocklin & Roseville Today. It can also be found at Sacramento Today.

You have to love this spring weather; it makes me want to be outside. Home buyers are out and as the days get longer we can look at more than one house “after work.” I have been working with several buyers over the past few weeks and it never ceases to amaze me at how many homes end up with multiple offers in a market where we clearly have too many listings. Houses that are well maintained show well and when priced right sell quickly. The days when a buyer could think about making an offer for a week or two are gone!