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Forgiveness on Forgiven Debt Extended Through 2014

Did you have a short sale or let your home foreclose in 2014? Did you negotiate a settlement with your lender? If so, you may be eligible for a tax exemption. The amount you owe, but don’t have to pay back, is considered forgiven debt. The IRS considers forgiven debt…
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When is it a Good Idea to Transfer my Real Estate into an LLC

When is it a Good Idea to Transfer my Real Estate into an LLC?

Renting property to tenants can be lucrative especially in booming housing markets such as Maricopa County.  Of course, being a landlord comes with responsibilities such as maintaining the property and responding to repair concerns.  However, property owners can also be vulnerable to their tenants taking legal action against them.  In…
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What You Need to Know About Your Arizona Deed

What You Need to Know About Your Arizona Deed

When buying and selling Arizona property, you will encounter several legal documents.  Your deed is the instrument which legally transfers ownership of a property from one owner to the other.  However, there are different types of deeds used to convey property.  Here is what you need to know about your…
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Loan Modifications Continue to Frustrate

I thought banks were supposed be more user-friendly when it comes to applying for a loan modification. There have been lawsuits against the big banks that have resulted in settlements and promises of fixing all of the problems consumers were having when applying for a loan modification. There have been…
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Home Inspections When Purchasing Real Estate

The standard Arizona Association of Realtors purchase contract states that a buyer has ten days to conduct home inspections when purchasing real estate. This may not be enough and the contract allows a buyer to take more time to perform inspections but the buyer must specifically state in the contract…
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What to Expect in Today’s Mortgage Lending Market

What to Expect in Today’s Mortgage Lending Market

The real estate market can be unpredictable in general.  Home values and sales can boom one year and crash the next.  Not surprisingly, mortgage lending practices tend to closely follow the activities in the housing market.   For Arizona residents looking to buy or sell real estate, it is essential to…
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Commercial Leases Favor Landlord

Commercial leases are long, detailed and usually favor the landlord. They do not have consumer protections like residential leases.  Therefore, it is important to read and understand all of its terms. It is helpful, and well worth the investment, to seek legal advice. It is common for the tenant to…
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Why Use an Attorney for Real Estate Contracts?

Consulting a lawyer can be like going to the dentist – you have to do it to protect yourself, but it’s expensive and uncomfortable. My goal is to reduce or eliminate the pain and prevent permanent damage and the cost to repair the damage later on. How do I do…
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Buying Your First Home in Arizona

Buying Your First Home in Arizona

According to a recent report by the U.S. Bureau of Economic Analysis,  in 2018 Arizona’s real gross domestic product (GDP) had the fourth fastest growth rate in the nation.  With its economic development and mild winters, it is not surprising that real estate and rental leasing contributed significantly to this…
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