Parade of Homes 2010

Tax day has come and gone so most of us know where we are regarding what we have coming back or what we owe in to the Internal Revenue. This now also begins the boost in the Real Estate market for 2010. Those that are thinking of making a change by the beginning of summer…

Tax Credit????

Well here we are April2nd 2010 and you still have not contracted on a home to take advantage of the tax credit. You still have 28 days to put a house under contract and close by June 30th. I dont know what you are waiting for as I have said before Now is the time…

Short Sales Part 6

Over the past few weeks we have been discussing the options available when you are in financial trouble regarding your mortgage. Today’s economic situations have made it harder for homeowners to keep up with their monthly payments. As discussed in previous articles you have a variety of options, from loan modification to short sales and…

Short Sales Part 5, Seeking Council:

When determining what to do regarding a short sale there are also some wise words of advice as to your options as well. Seek legal advice and also talk with your accountant or tax advisor as to what the consequences are going to be if you do a short sale. They may also be able…

Short Sale Part 4: Advantages and disadvantages of the short sale

When doing the short sale with the lender the shortage does not just go away. Depending on the lender they will determine if you will get a 1099-C or that you get a deficiency judgment against you. A 1099-C is an income form for the shortage that you will have to claim as income since…

Short Sale Part 3- Preparing documents for the short sale

There are documents that need to be gathered to get the process in full gear. Keep in mind you are asking for a loss from the lender on a purchase you did in the past, a mortgage that you agreed upon prior so the lender needs all the verification again as too why you feel…

Short Sales Part 2- Working towards the process:

You will need verification of your economic condition prior to getting the process started. You will need to write a hardship letter that states why you feel that you need to do a short sale. Also if you are having an outside party assist in the process you will need to put it in writing.…

Is A Short Sale For You?

With today’s tight economic conditions mortgage payments are stressing many families to the brink of either foreclosure or bankruptcy. There are other options available to you as a consumer out there. Loan modification is actually a good option if you are planning on staying in your home. This is where the Mortgage Company will work…

Tallahassee Real Estate Market.

Here we are at the beginning of another year 2010.  The past is now behind us and everyone is planning for a better and more prosperous new year ahead. Here at PrimeSouth Properties we specialise in New Construction and resale Real Estate. We can find you the property that you are looking for and design and build the…