Profile picture for Guy Ghanem

Guy Ghanem's Q&A

Questions and answers are sorted newest to oldest.

  • Questions (0)
  • Answers (5)
  • Best Answers (0)
  • Helpful (1)

Guy Ghanem wrote:

 

What are the HOA fees in this community (Royal Highlands)?

Answer
90 a month for Royal Highlands and 55 a month for Southern Highlands master plan fee.
2 days ago
(0)

Are sellers still being 1099'd for the difference owed in a short sale by bank?

Answer
Linda is right, you definitely need to consult a CPA or the IRS.All sellers are going to get a 1099C. It's almost standard issue from what I've seen, but if the property in question is the primary residence, then the mtg. debt relief  act will come into play.From what I've read:Deficiency tax forgiven up to $2 million per loan.$1 million per married person filing separately.Sellers will pay 2nd. mtg. deficiency tax if applicable.
February 17
(0)

What is the down side of putting my home for sale on Craig's list, before I sign with a realtor?

Answer
I personally don't see a downside, all you're doing is giving your home exposure. If you aren't planning to FSBO though, I would recommend meeting and working with a realtor as soon as you can so that you don't end up getting interest on the property and having to scramble to find an agent.With that being said, it has never been more true with so much inventory on the market that to FSBO is like finding a needle in a hay stack.Good luck.
February 06
(0)

What are the current tax implications of selling a home for a loss?

Answer
My advice is to contact your CPA. He will be the one to give you the most accurate information.From looking at irs.gov, it seems you cannot deduct a loss on your main residence:http://www.irs.gov/businesses/small/industries/article/0,,id=98921,00.htmlYou can also find more useful information here:http://www.irs.gov/publications/p523/index.htmlHope this helps.
February 03
(0)

How do I find out about neighborhoods in other towns?

Answer
bestplaces.net is a good resource to get an overview on neighborhoods you are interested in. Just type in a city, town or zip code. Best of luck.
February 02
(0)
 
pageName