WEEKLY Newsletter. Filled with all sorts of information and fun items. Come back each MONDAY for the new copy.
This WEEK....Monthly Market Update.
This Weeks Open Houses and ADs
NO MORE STATE TAX ON FORGIVEN DEBT
Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification. Enacted into law yesterday, Senate Bill 401 generally aligns California's tax treatment of mortgage debt relief income with federal law. For debt forgiven on a loan secured by a "qualified principal residence," borrowers will now be exempt from both federal and state income tax consequences. The existing federal exemption is for indebtedness up to $2 million, whereas the new California exemption is for indebtedness up to $800,000 and forgiven debt up to $500,000.
For Sale Properties
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25635 Queenscliff Ct.
Mountain View Estates in Calabasas
6+6 6,252 square feet with pool
REDUCED
$1,795,000 Not a REO or Short Sale
♦♦♦♦♦♦♦♦♦♦♦♦
22236 Craft Court
Calabasas
4 Beds. 3.5 Baths Pool/Spa
Extensive Remodel
Gated Community
$1,050,000
FOR LEASE
5544 Las Virgenes Rd #100
2+2.5 FP, FD, 2 Car Detached Garage
$2,050 a Month