LAR Bulletin Board

MetroList Waiver vs. On Market Date video.

Hear Bill and Dave explain the difference between using a waiver and On Market Date form. Very helpful and timely information in how you submit your listing to MetroList.

http://youtu.be/H9wwaC6Is_o

Save the Date! Mock Hearing with Susie Kater

April 2014 Multi-Association Class Calendar

Our New Stockton Branch

2014 Boss Planners Now Available

NO FEDERAL or State INCOME TAX FOR SHORT SALES

      We are so excited to inform you of some very good news.  The California Association of Realtors (C.A.R.) has been working with California Sen. Barbara Boxer, The Internal Revenue Service (IRS) and the Franchise Tax Board (FTB) to protect distressed homeowners from the debt relief income tax associated with a short sale in California.  As part of this effort, Sen.

IRS and CA Franchise Tax Board clarify mortgage debt

IRS and California Franchise Tax Board declare California distressed home sellers not liable for federal or state income tax on short sales

LOS ANGELES (Dec. 4) – The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) announced today it received a letter from the California Franchise Tax Board (FTB), obtained by Board of Equalization (BOE) member George Runner, clarifying that California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a short sale.

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