Short sale tax break signed into law | 2014-12-29 | HousingWire

It's official now that the president has signed into law the extension of the Mortgage Debt Forgiveness Act!



Short sale tax break signed into law | 2014-12-29 | HousingWire

Let us earn your business

What can Nancy and I do to earn your real estate business?

If you are a buyer: Searching the Internet for a house?  Let us search for you.  Whether or not we have a listing that interests you, we'll be able to show you any of the houses that are available.

We'll search for you and provide you with the facts and pictures you're looking for on a daily basis.

We can develop a search that finds all properties listed that meet your criteria so you don't waste any time!

Real estate brokers like us cooperate to show all listings on the market, no matter whose sign is in the front yard.

As your agent we'll will work on your behalf, look out for your best interests and negotiate your deal.

We can advise and provide expertise in our field of real estate sales.


If you are a seller: Whether you're in Jefferson or not (we regularly do business in Salem, Albany and Lebanon) we have expertise in pricing your home to get it sold.  

Your listing gets maximum exposure to the real estate market with us, just like with the big box brokerages!  You'll see your listing across the internet as well in Homes and Land web site and magazine, Hamby Realty web site and most importantly, the multiple listing system (MLS) of the Willamette Valley,  WVMLS.

Here's a copy of the Jefferson Together December Community Newsletter  This includes a lot of information about what's happening in our community as well as what's scheduled for the community center.

A brief observation from my favorite economist about oil prices

A brief observation from my favorite economist about oil prices

Because the US still imports 5 million barrels/day of oil, and consumers spend a substantial share of income on energy, cheaper oil boosts GDP. Every $10/bbl decline shaves 25 cents off the price/gallon of gas and reduces oil imports by $50 billion/year. That will boost GDP by almost half a percent. If oil falls below $65/barrel, the benefits remain positive but shrink as US drilling and exploration activity will fall.

 Elliot F. Eisenberg, Ph.D.

Here's a copy of the Jefferson Together November Community Newsletter  This includes a lot of information about what's happening in our community as well as what's scheduled for the community center.

Reasons to use a Realtor to buy or sell your home

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• An interesting article in Realtor magazine here about why a person should use a Realtor to buy or sell their home.  One of the enlightening comments quoted below says it all:
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  gabe5472 

  I used to think I could buy or sell a home myself, until I amassed 20 years of experience as a Realtor and learned how complex the process is and the endless pitfalls involved. The internet brings us an amazing amount of information and zero knowledge. Information without knowledge is dangerous.• 12 hours ago

"The founder of a popular for-sale by owner Web site used a real estate broker to help sell his 2,000-square-foot, two-bedroom New York apartment after it lingered on the market for six months."

It is quite interesting to see in this article how the median price of homes in the US ($207,500) gets you three or four bedrooms in most listings across the border, but only one bedroom in our 'immediate' area of White Salmon Washington.

Nancy and I were proud to sponsor a Jefferson girls 5-6th grade softball team team this year.

Coached by Megan Garland and Mike Cheever, the girls did a really terrific job holding their own against the other teams and finished the season 2nd in the league with final results of 6 wins, 3 losses and 1 tie.  (note that the inter-league games are not counted in the standings)  The girls faced some tough competition!  I am amazed that you did so well!

Thanks to the great efforts of the girls and the coaches, this was a memorable season.  I look forward to being a part of future team efforts!

Here's a link to the Leagues standings

Use a renovation loan to prevent future flood damages

You may have heard that the flood insurance program is undergoing many changes requiring people who need flood insurance to pay the true cost of the insurance without subsidies, resulting in a drastic increase in the cost of flood insurance and the subsequent lowering of the affected property value.

But here's some good news:

The Realtors association has pushed the FHA for an answer to whether or not a renovation loan (FHA 203(k) ) can be used to 'mitigate' flood issues before a flood disaster and received the answer:

"the mitigation of flood risk to an existing home either through relocation or elevation of the existing structure is permitted by the 203k program." 

Using the 203k program may be a viable alternative for homeowners or prospective homebuyers for the mitigation of the flood risk on their home, and lowering their flood insurance costs.

Here's the full article from the National Association of Realtors.

Here's a copy of the Jefferson Together July Community Newsletter.  This includes a lot of information about what's happening in our community as well as what's scheduled for the community center.

Here's a link to the current City of Jefferson water quality report, presented for the information of Jefferson residents.

According to the report "We're pleased to present to you this year's Annual Water Quality Report. This report is designed to inform you about the water quality and services we deliver to you every day.

In 1996, Congress passed amendments that require drinking -water systems to give consumers important
information regarding their -water quality, including where it comes from, what is in the water and how
your water quality compares with federal standards."


2013 Annual Water Quality Report

REALTORS® expect home prices to continue to appreciate over the next year, with a median price increase expected of 4 percent over the next 12 months, according to the latest REALTORS® Confidence Index, reflecting responses of more than 3,000 REALTORS® about their April transactions.

Read more...

Here's a copy of the Jefferson Together June Community Newsletter.  This includes a lot of information about what's happening in our community as well as what's scheduled for the community center.

Here's a link to FEMA's web site with a fact sheet about Homeowner Flood Insurance Affordability Act.

The Homeowner Flood Insurance Affordabillity Act of 2014 law repeals and modifies certain provisions of the Biggert-Waters Flood Insurance Reform Act and makes additional program changes to other aspects of the National Flood Insurance Program.

The act, signed into law March 21, 2014, lowers the recent rate increases on some policies, prevents some future rate increases, and implements a surcharge on all policyholders.

Here's a reminder of May 3rd Festival of the Flowers schedule:

8:45 Flag ceremony

9:00 Zumba demonstration and class by Karie Cordle

10 Sydney Harrington sings popular music

10:45 JHS Jazz Band, JHS Jazz Choir performs

11:45 Craig Risley (with Jack Motty and Dan Fick) performs Island Rock

12:30 Jeff and Julia Marcec duet of acoustic rhythm and blues

1:30 Oldfield Road (Sue and Andrew Queisser) contemporary folk

2:30 Bootleg (4 piece band) - American rock

Sound system provided by Neil Paben

Here's a copy of the Jefferson Together May Community Newsletter

Interesting factoid from Elliot Eisenberg:


04/15/2014

"With an increase of 4.5 billion barrels of crude oil in 2012, America's proven reserves are now 33 billion barrels, their highest level since 1976 and have been rising since 2009. Moreover, the increase in reserves in 2012 was the largest since 1970, when 10 billion barrels of Alaskan crude were added. At the current rate of consumption of 19 million barrels/day, proven reserves equal almost five years' worth of consumption.
Elliot F. Eisenberg, Ph.D."

The May 3rd Festival of the Flowers will feature the following entertainers:

8:45 Flag ceremony

9:00 Zumba demonstration and class by Karie Cordle !
 
10  Sydney Harrington sings popular music !

10:45 JHS Jazz Band, JHS Jazz Choir performs !

11:45 Craig Risley (with  Jack Motty and Dan Fick) performs Island Rock !

12:30 Jeff and Julia Marcec duet of acoustic rhythm and blues !

1:30 Oldfield Road (Sue and Andrew Quiesser) contemporary folk !

2:30 Bootleg (4 piece band) - American rock !

We had great success with the Friends of the Library Building Fund garage sale this past weekend.  Sold a lot of stuff and raised about $800.  Thanks to all the library friends that helped staff and donate items.  And thanks to the many Jefferson residents who helped us (and themselves as well) by purchasing from us!

Two upcoming events:

April 12 & 13 Friends of the Library Garage Sale at 710 N 2nd St Jefferson, at the storage units

9 AM to 4 PM

Lots of Stuff and Benefiting the Library Building Fund!
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May 3

Festival of Flowers  9 AM to 4 PM  Main St in Jefferson

Flowers, music & etnertainment, garden art, crafts, free kids crafts, book sale, CAR SHOW!, food, indoor yard sale, Fireman's pancake breakfast (7 AM to Noon)

Sponsored by the Friends of the Library, Harts Nursery and Peoria Garden!

Here's the latest Jefferson Community newsletter for April 2014!


www.hambyrealty.com/newsletters/April 2014 Jefferson Community Newsletter.pdf

Need a buyer! 796 N. Sunrise Dr., Jefferson OR

I need a buyer for this house!... Besides being a great cozy home in good condition, with a new roof, appliances included, new interior paint and vinyl siding, it would make a great rental if you are interested in investing.    Yard is completely fenced!  Follow the link below for more listing information.

Only $89,000!  Financing could be done with an FHA or VA loan.  Not eligible for USDA.


796 N. Sunrise Dr., Jefferson OR

Look here for more info.

Jeff Marcec
Broker licensed in Oregon
Hamby Realty
111 S. 2nd St, Jefferson, OR
503 949 5489

 

Open House today at 796 N Sunrise Dr, Jefferson, OR 97352

Sunday 3/30/2014 from 1 to 4 PM

Cozy and affordable! This well maintained home features a light and bright open floor plan with vaulted ceilings. It has a NEW 30 yr roof, fresh interior paint, newer laminate & vinyl floors, newer water heater. The refrigerator is included. The yard is completely fenced and includes a storage shed.  $89,000


google map

Our state representative Jim Thompson has published a recent legislative update here:

He states: "The 2014 special session concluded Friday, March 7th, 2014.   The issues I addressed in previous newsletters remain on the table as they could not be addressed-either for partisan differences or the issue was too big to find the correct resolution in a 35 day session. "

Ron Wyden and the Senate Finance Committee

Here's an article that explains that Ron Wyden is heading up the committee reviewing popular tax benefits such as the mortgage forgiveness act.  

The  mortgage forgiveness act expired at the end of 2013 and has a big impact of those homeowners faced with a so-called "short sale" of their home.

Here's a link to the legislative update from our state representative Jim Thompson from February 20th.

FHA Moves to Accept E-Signatures

It's about time that electronic signatures are accepted on mortgage loan documents and sales contracts.  This will help speed up transactions and communications and reduce our reliance on blurry faxed documents and meeting clients halfway between here and Timbuktu for a quick signature.



FHA Moves to Accept E-Signatures

4 Keys Identified for a Full Housing Recovery

I agree with this discussion of the factors involved in a real estate recovery.  This perspective is national and we here in Oregon and finally Jefferson, will follow the national trend, but at a slower pace.  I look to real estate values improving at a 5% rate this year.

4 Keys Identified for a Full Housing Recovery

Next Home Games! The Jefferson Girls and Boys basketball teams' next home games are January 24th, 2014 Friday when Jefferson faces Pleasant Hill.

Junior Varsity Boys 4:30 PM at Middle School
Junior Varsity Girls 4:30 PM at High School
Varsity Girls 6:00 PM at High School
Varsity Boys 7:30 PM at High School

It would be great to see the community turn out to support our school athletics!

Since I've had a challenge finding up to date information about the possibility of Congress extending the mortgage forgiveness tax break into 2014 I've included a link to govtrack which will show the latest status: This link will show the current status of the bill proposing to extend the mortgage debt relief law through 2014. What this bill does: Amends the Internal Revenue Code to extend through 2014: the tax credit for purchasing health care insurance; the tax deduction for expenses of elementary and secondary school teachers; the exclusion from gross income of imputed income from the discharge of indebtedness for a principal residence; the equalization of the exclusion from gross income for employer-provided commuter transit and parking benefits; the tax deduction for mortgage insurance premiums; the tax deduction for state and local general sales taxes in lieu of state and local income taxes; the tax deduction for contributions of capital gain real property made for conservation purposes; the deduction from gross income for qualified tuition and related expenses; and tax-free distributions from individual retirement accounts (IRAs) for charitable purposes.