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09-04-2010 |
Resale Sales Analysis
The July ARMLS1 Reports reported sales of 7,101, which is a decrease of 2,177 from June. On a seasonally adjusted basis sales were down 1,994 from July 2009. Sales have been below the level of one year ago for the past three months.<! ... |
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08-20-2010 |
| July ARMLS Reports
Resale Listings
The listing count reported in the July Arizona Regional Multiple Listing Service (ARMLS1) Reports, which were released on August 16th, was 42,887—up 1,018 listings from the June reports. In March 2009 ... |
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08-14-2010 |
| Current New Homes Market
6-Month Spec Count
The spec inventory count is now at 1,744 units, 3 more than six months ago. It has dropped below the historical (before the current market conditions) record number of 2,400.
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08-06-2010 |
| Current New Homes Market
6-Month Spec Count
The spec inventory count is now at 1,726 units, 25 less than six months ago. It has dropped below the historical (before the current market conditions) record number of 2,400.
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News Article From: 01-13-2010
Tax consequences from short sales - Debt forgiveness on loans used to purchase homes is generally not taxable income. Under the Debt Forgiveness Act of 2007, any debt forgiveness on a loan used to purchase a principal residence is not taxable income. Therefore, if the short sale has been approved, the seller should have no taxable income on any debt forgiveness. In the case of a rental home, the IRS has ruled that there is no tax liability for debt forgiveness of non-recourse debt. Under Arizona law, any loan used to purchase a home is generally non-recourse debt; that is, the homeowner has no personal liability for the loan. Consult a legal or tax adviser before making decisions. See the full article for more details:
http://www.azcentral.com/arizonarepublic/business/articles/2010/01/13/20100113biz-combs0113.html |
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