Tag Archives: short sale

Under water? Can’t afford your mortgage payments anymore? Short Sale as Foreclosure Avoidance Tool best for some Homeowners


According to yesterday’s issue of the Puget Sound Business Journal, about 16 percent of all residential properties with mortgages were in negative equity at the end of the year in Washington State. Negative equity means the homeowner owes more on the home than the home is worth.  This  can occur because of a decline inContinue reading “Under water? Can’t afford your mortgage payments anymore? Short Sale as Foreclosure Avoidance Tool best for some Homeowners”

Houses for Pennies on the Dollar? Really?


 Many buyers have heard that Seattle real estate is more affordable than ever. Yes, prices have dropped quite substantially but when I hear people saying or I read articles about “Houses for Pennies on the Dollar” I get a little perturbed.  We have had a few people contact us with unrealistic expectations about what theyContinue reading “Houses for Pennies on the Dollar? Really?”

My house was sold at a short sale – do I owe taxes for the forgiven debt?


Homeowners who sold their house in a short sale are often cautioned by their lender, escrow officer, real estate agent or other professionals involved in the sale that they may owe taxes on the forgiven debt. Usually, a homeowner who resided in the home (as their primary residence) sold at a short sale will notContinue reading “My house was sold at a short sale – do I owe taxes for the forgiven debt?”