LAPD, LASD, CHP, Fire Fighters, Educators, and our other Paris911® Clientele, Lend me your ears...  Remember Bush?  (a moment of self reflection...)

Short Sale my Santa Clarita HomeWell apparently the "short sale" thing and the "forgiveness" with regard to, anyone short selling, and not being taxed on the difference between what you owed on your mortgage and the amount your bank or banks agreed on allowing it to sell for - that amount, will start to be "taxable" as income, come the end of this year, 2012.

Click here for the Legaleze directly from the Internal Revenue Website!!!

Here is a typical short sale scenario and how it might play out:

  • You owed your bank $500,000.00 on your home.
  • You fell on hard times, job loss - disease - pay cut - divorce - death?
  • You decided it would be better for your "long range credit wise" to short sale instead of letting your home foreclose.
  • Calling up a Local Short Sale Expert - you signed up and filled out all of the necessary documentation.
  • The price of your home was set - bank was notified, and an offer was received by someone that wants to buy your home as a short sale.
  • Your Bank agreed to allow your home for $250,000.00.
  • The buyers appraiser(from the bank where your buyer is getting their loan), validates the sales price of $250k.
  • Escrow closes and you have just Sold Short Your home.
  • Now, it used to be that difference - the amount of what you owed on  your mortgage and the amount you sold short your home for - in this scenario $250,000.00 - would have been treated as taxable income.
  • It has not because of Past President Busy and an agreement signed by the powers that were.
  • That is running out December of 2012, unless a new agreement is signed by the current powers that be!

If you are considering a Short Sale - you will want to call your local real estate professional to get more details on the upcoming changes to the Short Sale Rules and 10-99 forgiveness.

*If you are considering a Short Sale in the Santa Clarita Valley - you will want to contact my Paris911®  Team and I - click here.

Here are the most recent Foreclosure Alerts for the Santa Clarita Valley:  Be Safe and Be Good to each other!

Your New Foreclosures alert, Paris911's Pre-Foreclosure Alert for Santa Clarita Valley CA, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Preforeclosure 507636788 27035 FAIRWAY LN 66 VALENCIA 91381 CA CND 1642 2 2.00 05/31/2012 $297,564.00 $405,941.00

Preforeclosure 41760851 15438 CALLE SONRISO SANTA CLARITA 91390 CA SFR 1350 3 2.00 06/06/2012 $117,502.00 $189,132.00

Preforeclosure 509606685 18209 SIERRA HWY 22 CANYON COUNTRY 91351 CA CND 795 2 2.00 06/07/2012 $119,181.00 $243,088.00

Preforeclosure 23771708 28117 HAXTON DR CANYON COUNTRY 91351 CA SFR 1400 3 2.00 06/06/2012 $258,655.00 $321,606.00

Preforeclosure 500580338 27909 SKYCREST CIR 40 VALENCIA 91354 CA CND 910 2 3.00 06/07/2012 $235,590.00 $356,904.00

Preforeclosure 184494 28045 KEEPSAKE WAY VALENCIA 91354 CA CND 1671 3 3.00 06/07/2012 $340,738.00 $742,602.00

Preforeclosure 1045568b 25442 HOLMES PL STEVENSON RANCH 91381 CA CND 1997 4 3.00 06/07/2012 $369,636.00 $244,041.00

Preforeclosure 509608211 19960 AVENUE OF THE OAKS NEWHALL 91321 CA CND 925 2 2.00 06/02/2012 $148,960.00 $210,911.00

Preforeclosure 503457204 25230 CARSON WAY STEVENSON RANCH 91381 CA CND 1972 3 3.00 06/02/2012 $377,917.00 $589,873.00

Preforeclosure 24540657 19855 BLACKBIRD LN CANYON COUNTRY 91351 CA CND 1669 3 3.00 06/07/2012 $275,991.00 $541,670.00

Preforeclosure 503410379 18125 AMERICAN BEAUTY DR 171 SANTA CLARITA 91387 CA CND 844 3 2.00 05/30/2012 $116,466.00 $254,206.00

Preforeclosure 512670378 27616 NUGGET DR 5 SANTA CLARITA 91387 CA CND 1127 2 3.00 06/02/2012 $162,837.00 $296,594.00

Preforeclosure 512862823 25670 SERENA DR VALENCIA 91355 CA CND 864 2 2.00 06/07/2012 $250,287.00 $376,593.00

Preforeclosure 500603661 27829 CARNEGIE AVE SANTA CLARITA 91350 CA SFR 957 2 1.00 06/07/2012 $241,546.00 $238,866.00

Preforeclosure 24710360 28861 STARTREE LN SANTA CLARITA 91390 CA SFR 1450 3 3.00 06/07/2012 $345,019.00 $67,176.00

Preforeclosure 36020488 28229 TAMBORA DR CANYON COUNTRY 91351 CA SFR 2303 3 3.00 06/06/2012 $378,586.00 $343,914.00

Your New Foreclosures alert, Paris911's Santa Clarita Bank Owned Real Estate Alert, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Bank Owned 520355441 22710 RIO GUSTO CT VALENCIA 91354 CA SFR 1576 3 2.00 02/14/2012 $325,920.00 $411,837.11

Bank Owned 916325b 17913 WELLHAVEN ST CANYON COUNTRY 91387 CA SFR 1196 3 2.00 02/14/2012 $270,703.00 $245,650.00

Bank Owned 369127 25035 WHEELER RD NEWHALL 91321 CA SFR 2403 3 3.00 02/14/2012 $424,397.00 $453,120.47

Bank Owned 24545472 18816 VISTA DEL CANON F SANTA CLARITA 91321 CA CND 810 2 1.00 02/14/2012 $125,434.00 $156,824.41

Bank Owned 507381968 28535 ROW CT SAUGUS 91350 CA SFR 2322 4 3.00 02/14/2012 $387,083.00 $312,000.00

Bank Owned 517065600 25820 EL GATO PL VALENCIA 91355 CA CND 1356 3 3.00 02/14/2012 $313,288.00 $283,226.40

Your New Foreclosures alert, Paris911's Sold to Third Alert for Santa Clarita Valley CA, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Sold to 3rd 42828696 29323 OHARE CT SANTA CLARITA 91387 CA CND 3035 4 4.00 02/14/2012 $390,090.00 $352,291.58

Sold to 3rd 23778188 22707 GARZOTA DR SANTA CLARITA 91354 CA CND 2032 3 2.00 02/14/2012 $340,795.00 $248,500.00

Your New Foreclosures alert, Paris911's Auction Alert for Santa Clarita Valley, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Auction 40525508 27346 DEARBORN DR SANTA CLARITA 91354 CA SFR 1962 3 3.00 03/01/2012 $359,133.00 $563,385.00

Auction 507577625 27241 RIVERVIEW LN SANTA CLARITA 91354 CA CND 1330 3 3.00 03/01/2012 $246,006.00 $284,484.00

Auction 513125735 25471 WHARTON DR VALENCIA 91381 CA CND 1560 3 3.00 02/29/2012 $293,202.00 $513,611.00

Auction 512897510 19203 RANIER ST CANYON COUNTRY 91351 CA SFR 1537 4 2.00 03/02/2012 $290,385.00 $420,270.00

Auction 104170 19340 OLD FRIEND RD SANTA CLARITA 91351 CA CND 1598 3 3.00 02/29/2012 $245,944.00 $549,102.00

Auction 23792714 25724 LEWIS WAY STEVENSON RANCH 91381 CA SFR 2698 4 3.00 02/29/2012 $539,858.00 $506,216.00

Auction 24533969 23790 WILDWOOD CANYON RD NEWHALL 91321 CA SFR 3078 3 4.00 03/05/2012 $617,839.00 $518,697.00

Auction 520356142 27803 PALMETTO RIDGE DR SANTA CLARITA 91354 CA SFR 1263 3 2.00 03/01/2012 $323,536.00 $352,701.00

Auction 667918b 24420 FLAXWOOD LN 102 SANTA CLARITA 91321 CA CND 829 2 2.00 03/05/2012 $144,774.00 $259,305.00

Auction 509597267 23601 CANERWELL ST NEWHALL 91321 CA SFR 2121 4 3.00 02/29/2012 $416,464.00 $412,761.00

Auction 23790931 25363 CLARKE ST STEVENSON RANCH 91381 CA SFR 2820 3 3.00 02/29/2012 $565,103.00 $547,494.00

Auction 11000 26707 PEAJAY WAY CANYON COUNTRY 91351 CA CND 1700 4 3.00 03/01/2012 $276,562.00 $12,841.00

Auction 24532681 25144 SMOKEWOOD WAY STEVENSON RANCH 91381 CA SFR 3444 3 3.00 03/01/2012 $717,478.00 $647,952.00

Auction 24540888 19802 SANDPIPER PL 15 NEWHALL 91321 CA CND 970 3 2.00 03/13/2012 $160,956.00 $265,018.00

Auction 864654b 15430 NASTURTIUM DR SANTA CLARITA 91387 CA SFR 1149 3 2.00 03/02/2012 $240,231.00 $397,095.00

Auction 509743817 20207 GRATLAND DR SANTA CLARITA 91351 CA CND 1918 4 3.00 02/27/2012 $275,826.00 $515,025.00

Auction 512765163 26903 WHITEHORSE PL SANTA CLARITA 91387 CA SFR 3116 3 4.00 03/01/2012 $714,870.00 $864,539.00

Auction 23801108 26809 GROMMON WAY SANTA CLARITA 91351 CA CND 1392 3 2.00 03/06/2012 $234,150.00 $424,594.00

Auction 512705103 25402 VIA PACIFICA VALENCIA 91355 CA SFR 1596 4 2.00 03/02/2012 $403,844.00 $477,991.00

Auction 445200 30355 ABELIA RD SANTA CLARITA 91387 CA SFR 1362 4 2.00 03/08/2012 $276,805.00 $564,125.00

Auction 517535560 25902 BELLIS DR VALENCIA 91355 CA SFR 2536 4 3.00 03/02/2012 $634,021.00 $738,021.00

Auction 23812124 15256 POPPY MEADOW ST CANYON COUNTRY 91387 CA SFR 1464 3 3.00 03/02/2012 $322,600.00 $505,777.00

Auction 23813186 23713 VIA BEGUINE VALENCIA 91355 CA SFR 2336 5 3.00 02/29/2012 $479,951.00 $438,312.00

Auction 512747711 23515 LYONS AVE 112 VALENCIA 91355 CA CND 987 2 2.00 02/27/2012 $178,568.00 $260,854.00

Auction 34124 25368 AVENIDA RONADA SANTA CLARITA 91355 CA SFR 1817 4 2.00 03/01/2012 $386,734.00 $526,903.00

Auction 23814014 25426 PLAZA ESCOVAR VALENCIA 91355 CA SFR 1817 4 2.00 02/29/2012 $371,923.00 $403,211.00

Auction 23968008 28119 BOBWHITE CIR 111 SANTA CLARITA 91350 CA CND 1492 3 3.00 03/06/2012 $228,384.00 $9,116.00

Auction 517087773 21632 NEWTON CT SANTA CLARITA 91350 CA SFR 1565 3 3.00 03/02/2012 $324,368.00 $414,190.00

Auction 1045350b 22801 ASPEN CT SAUGUS 91390 CA SFR 1450 3 3.00 03/08/2012 $343,975.00 $431,163.00

Auction 37286598 15025 LIVE OAK SPRINGS CANYON RD SANTA CLARITA 91387 CA SFR 4940 5 6.00 03/01/2012 $916,797.00 $1,699,993.00

Auction 517496621 29810 GLENDOWER CT CASTAIC 91384 CA SFR 2247 4 3.00 02/28/2012 $398,988.00 $477,795.00

Auction 513000263 28367 HAWKS RIDGE DR CANYON COUNTRY 91351 CA SFR 3882 6 4.00 03/01/2012 $629,209.00 $538,677.00

Auction 37421592 26902 MONTEREY AVE SANTA CLARITA 91355 CA CND 2356 4 3.00 02/29/2012 $448,776.00 $739,295.00

Auction 509787885 24915 SOUTHERN OAKS DR STEVENSON RANCH 91381 CA SFR 3835 6 4.00 03/02/2012 $792,117.00 $1,239,116.00

Your New Foreclosures alert, Paris911's Auction Alert for Santa Clarita Valley, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Auction 23810848 25825 TOURNAMENT RD I12 SANTA CLARITA 91355 CA CND 993 2 2.00 02/28/2012 $143,118.00 $143,200.00

Auction 38237720 25076 BLUE RIDGE WAY STEVENSON RANCH 91381 CA SFR 3229 5 4.00 02/21/2012 $680,647.00 $698,684.00

Auction 43663146 25360 AVANTI CT VALENCIA 91381 CA CND 1733 3 3.00 03/31/2012 $338,596.00 $471,234.00

Auction 904922b 17523 SARVISTREE CT CANYON COUNTRY 91387 CA SFR 3215 4 3.00 02/29/2012 $484,449.00 $700,391.00

Auction 963423b 29210 DISCOVERY RIDGE DR SANTA CLARITA 91390 CA SFR 3447 5 4.00 02/27/2012 $606,922.00 $481,449.00

Your New Foreclosures alert, Paris911's Pre-Foreclosure Alert for Santa Clarita Valley CA, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Preforeclosure 23799875 26901 RAINBOW GLEN DR 642 CANYON COUNTRY 91351 CA CND 1001 3 2.00 06/05/2012 $155,605.00 $5,972.00

Preforeclosure 505307777 18818 VISTA DEL CANON F SANTA CLARITA 91321 CA CND 810 2 1.00 05/30/2012 $122,022.00 $3,015.00

Preforeclosure 111759 29831 GRANDIFLORAS RD SANTA CLARITA 91387 CA SFR 1505 4 2.00 06/06/2012 $312,101.00 $443,236.00

Preforeclosure 41255640 20000 PLUM CANYON RD 222 SANTA CLARITA 91350 CA CND 809 1 1.00 06/05/2012 $125,869.00 $273,480.00

Preforeclosure 520356921 20319 RUE CREVIER 554 CANYON COUNTRY 91351 CA CND 1107 3 2.00 06/05/2012 $173,409.00 $295,662.00

Preforeclosure 503336376 28819 CARNATION CT CASTAIC 91384 CA SFR 2800 4 3.00 05/30/2012 $460,495.00 $768,399.00

Preforeclosure 174406 18146 AMERICAN BEAUTY DR 1049 SANTA CLARITA 91387 CA CND 934 3 2.00 06/06/2012 $128,222.00 $191,504.00

Preforeclosure 505277125 25004 PLAZA LARIOS VALENCIA 91355 CA SFR 1429 3 2.00 05/30/2012 $361,342.00 $285,469.00

Preforeclosure 507636830 17781 CAPE JASMINE RD CANYON COUNTRY 91387 CA SFR 3313 4 3.00 06/06/2012 $505,677.00 $549,599.00

Preforeclosure 24539588 20029 GREEN JAY PL SANTA CLARITA 91351 CA CND 1561 3 3.00 06/06/2012 $235,126.00 $287,213.00

Preforeclosure 512859330 28646 LAKECREST AVE SANTA CLARITA 91387 CA SFR 2529 4 3.00 05/31/2012 $395,404.00 $558,049.00