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Mortgage Debt Forgiveness Extended until 2014!

Jan 02, 2013

Mortgage Debt Forgiveness extended

Late last night, Congress reached a settlement in the “fiscal cliff” negotiations. As a result, the Mortgage Forgiveness Debt Relief Act has been extended for another year. The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal reduction) or foreclosure.

C.A.R. would like to thank the 26,296 California REALTORS® who sent messages to their members of Congress and made 1,862 calls in response to C.A.R.’s Call-for-Action.

Also under the agreement, so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers. These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000. The thresholds have been increased and are indexed for inflation so will rise over time. Under the formula, filers gradually lose the value of their total itemized deductions up to a total of a 20% reduction.

The reinstitution of these limits has far less impact on the mortgage interest deduction (MID) than a hard dollar deduction cap, percentage deduction cap, or reduction of the amount of MID that can be claimed.

Capital gains rates on the sale of principal residences will remain unchanged and continues to exclude the first $250,000 for single taxpayers and $500,000 for married couples.

Article taken from CAR.org (See full article Here)

If you are thinking about selling your home, call me for a Free Consultation at 310.956.9385

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Brittany Sells LA

SOLD: Spacious traditional in the red hot North Hollywood neighborhood

06 May, 2021

5648 Irvine Avenue, North Hollywood, CA 91601 Represented buyer – Sold for $ 1,165,000 – ($14k under asking!) 3 Bedrooms | 3 bathrooms | 2,302 sq.ft. MLS # SR20203879CN

Celebrating 10 Years

06 May, 2021

Wow! 10 years! When I first embarked on this journey I had NO idea I would fall so hard for this career. I couldn’t fathom the places it would take me, the amazingly wonderful people I would meet ♥️ and the opportunities it has afforded me. I never imagined this career would be so rewarding or fulfilling. It’s what keeps me going. What makes me feel alive. My one, true love. Most Realtors change offices many, many times over. I have remained true and loyal to the company which gives back so much. Keller Williams Los Feliz is my family. It’s the place I have made some of my first and best friends. Where I sold my first house where so many memories have been made. I wouldn’t be where I am without the support of this office and the people I’ve met along this incredible journey. I am eternally grateful. I have to send a huge shout out to my amazingly wonderful mom. She never stopped believing in me and encouraging my dreams. Thank you to Gary Reavis for being such an inspiration and ally in my life and career. You helped make this super fun and contributed to so many of my wins! To my amazing mentor when I was a weeee young clueless Realtor, Kenya Reeves-Costa (and for giving me the BrittanySellsLA branding idea). To our new team leader, Brock Worthen for continuing to inspire, cheer, and root for all your agent’s successes. I know I didn’t win an Oscar or a Grammy here, but making it 10 years in a cut throat industry is an accomplishment worthy of thanks and honorable mentions. I didn’t get here on my own. So here’s to the next 10 years. To the highs. To the lows. To the lives I am blessed to change and to all the remarkable people I have yet to meet. Perhaps the biggest thank you of all goes to each and every one of my sweet clients who trusted me over the past 10 years to find them their American Dream! It was a huge honor. Love you all and thank you for your continued referrals. I wouldn’t be here without YOU! Sincerely, Brittany Walter

JUST SOLD! Closed in 17 DAYS: Remodeled Valley Townhome

19 Feb, 2021

8801 Cedros Avenue #25, Panorama City, CA 91402 Represented buyer – SOLD FOR $457,000 2 Bedrooms | 3 bathrooms | 1,476 sq.ft. MLS #SR21019913CN Our first day out in this insanely competitive market my clients fell in love (the wet bar sold them!). We beat out 9 other offers to secure their very first offer, ever on this charming Valley townhome. The kicker, my lender was able to close the deal in 17 days for my clients. 17 days! This place is so light and bright and even has a skylight! The new owners are over the moon.

Sold: Prestigious Del Amo Woods home

27 Jan, 2021

23917 Pasatiempo LN, Harbor City, CA 90710 Represented Buyer 4 Bedroom | 3 bath | 2,354 sq.ft. | 7,056 sq.ft. lot | Sold for $820,000 MLS #DW20244732MR My client had been looking for a home for FOUR years with another agent, but when she contacted me last summer – we got to work! In just a few months we saw upwards of 100 homes until we finally found the one. Even better, I was able to negotiate a $30,000 credit!