Tampa Bay Blog

President Bush signed into law Thursday a bill creating a temporary tax break for homeowners who are able to persuade lenders to forgive part of their debt, and extends a tax deduction for some families with private mortgage insurance.

For the next three years, the IRS won't count as income debt forgiven by lenders when troubled borrowers negotiate short sales or workouts on their primary residence that involve forgiveness of part of their debt.

If you would like more information on Short Sales please reply to this blog.

As we end another year of a declining real estate market.  Buyers and Sellers are still wondering what to do.  Buyers want to know if they should buy and sellers are wondering if they should lower their price.

Well here's the truth, buyers should be taking advantage of the low interest rates that are still available and have a realtor help them find the best deals out there.  There are still some great incentives from sellers, builders and realtors.

Sellers need to come to grips with this market.  If your home is still sitting on the market more than 120 days chances are you are over priced.

How do you fix it?  Get a new market analysis and price your home accordingly.  If you want to start seeing some offers you should be priced 5% to 10% below your competition and always below the last similar home's sale price.

If you have questions or comments we'd like to hear it so feel free to reply.

If You want a FREE market analysis of your home or want to know what your neighbor sold their house for call 813-541-3222.