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State of CA flagThe State of California Appropriations Committee is meeting this Friday.  On the agenda a SB 30 which was originally introduced in December 2012 and finally received its first hearing last week.  If not approved this Friday, the bill would stall up until January 2014.

Why is SB 30 important?  Under the current state law, when a lender forgives mortgage debt in a short sale, the seller must pay state income tax on the amount of forgiven debit (there is currently no federal income tax).  If passed, this bill will assist to eliminate the state income tax on short sale transactions.   According to the California Association of Realtors (CAR) and many others, passing this bill is the right thing to do.  Distressed homeowners are faced with a no-win situation — either pay taxes on money they don’t get or let the home go into foreclosure.  They generally have two choices — foreclosure or short sale.  If they fear state income tax liability on a short sale, they are likely to choose foreclosure.  Foreclosures are bad for everyone….the community, the homeowner and damage property values more than short sales.

Not all delinquent homeowners face foreclosure because they purchased above their means.  Many homeowners have financial hardships that have placed them in a difficult situation.  If this bill is not passed, these borrowers will face credit challenges and additional financial challenges as a result of having to pay taxes on money they will never see again.

What can you do to help?

Encourage State Assembly member Mike Gatto (Chair of the Appropriations Committee) to pass this bill by visiting his Facebook page: www.facebook.com/mikegatto and sending him a message asking him to support SB 30 and distressed homeowners

OR

Call Assembly Member Mike Gatto at: 1-800-969-3420  — enter PIN number 3043 (call Monday – Friday 9 AM – 5 PM)
If you wish, you can bypass the first part of the message by entering the PIN, followed by the # sign, at any time. You may also bypass the 2nd part of the message by hitting the “1” key to be directly connected to the legislator’s office. Ask him to support distressed homeowners and support SB 30. As the Chair of the Appropriations Committee, he is responsible for the committee’s failure to act on behalf of distressed homeowners.

To read the full bill click here

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Late Friday afternoon walk with our 2 houseguests. #lovewherewelive #mammothlakes #visitmammoth ...

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Sonja recently helped me purchase a condo. My experience with her was only positive. She's knowledgeable, thorough and friendly. She is the consummate professional and the standard to which I would hold any real estate agent. - Alexander R.

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Open House This Weekend! Come see this incredible property for yourself!

44 Wagon Wheel Drive
Sunday, October 2
4 PM - 6:30 PM

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Time isn’t always on your side, especially if you’re trying to time the real estate market.

Some homeowners postponed selling while they waited for prices to hit their peak. Here’s why you shouldn’t wait any longer:

💲The market is unpredictable — even experts can’t guarantee what it will do next!
☑️ You could pay more to buy your next home the longer you delay.
🤝 It’s still a great time to sell, but rising mortgage rates are beginning to slow down demand.

You can’t control the real estate market — but you can control when you put your home up for sale 🏡

Contact us to start a conversation about the right time to make your move.

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BIG bright windows are the main attraction in this spacious 2 bed/2 bath condo in St. Anton. This complex is next door to Canyon Lodge – one of the shortest walks of any Mammoth location! Come see this condo today and get ready for the best winter season of your life!

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If you're renting but plan on buying a house in the near, don't renew your lease without going month-to-month or making sure you can cancel it by giving your landlord a month or two notice.

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Thursday, September 29
9 AM - 11 AM

Stop by and tour 3 amazing Mammoth Lakes Properties tomorrow!!!

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Beautiful sunset tonight.

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Sonja was very knowledgeable and competent in selling our house in Mammoth. She is very personable and answered all of our numerous questions with courtesy, humor, and patience. Despite a greatly slowed real estate market, she sold our house in a reasonable time frame. - Stuart F.

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#nofilter Sunday evening neighborhood stroll. ❤️reflections, water, blue skies and fluffy clouds ☁️ #lovewherewelive ...

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If you have a light fixture you want to keep and take with you to your next home, take it down and replace it before you put your house on the market. You can also leave it up and "exclude" it from the sale within your listing, but it can cause issues if a buyer sees it and wants it. Avoid problems by removing it ahead of time.

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Beautiful day at the village. I love the clouds and like to look for shapes or object -- what do you see?

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Amazing two-bedroom condo next door to Canyon Lodge! Ski all season long in this cozy mountain home!

Properties Link Below:
https://www.destinationmammoth.com/properties/

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Hope everyone is having an amazing time at the Mammoth Trail Fest! If you haven't already make sure to check out this awesome event the rest of the weekend!

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Beautifully updated two-bedroom slope side condo just listed for sale. Check it out!

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What does “Months of Supply” tell us about the market?

To break it down simply:

📊Balanced Market = 6 to 7 months of supply
There are a relatively even number of buyers and sellers.

📈Seller’s Market = Fewer than 6 months of supply
There are more buyers than homes for sale, thus sellers hold the upper hand.

📉 Buyer’s Market = More than 7 months of supply
There are more homes for sale than willing and able buyers, thus buyers have more negotiating power.

Have a question about current market trends? Reach out at any time! We’re here to help you decode the lingo and make the most of today’s market 👨‍💻

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SNEAK PEAK! This two-bedroom condo next door to Canyon Lodge will be listed for sale in the next 24 hours!

Check out an early video tour now on our YouTube!

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I love working with awesome realtors like Heidi Vetter! How thoughtful is this?!” @vetter_heidi ...

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If your agent isn't available, don't call a random agent to show you a house you're interested in seeing if you plan on having your agent write an offer if you like the house. Agents don't get paid for simply showing houses, so it's inconsiderate to ask an agent to show you a house they have no chance of selling to you.

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