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Welcome to ArizonaHomes1.com

Welcome to ArizonaHomes1.com, the luxury home & condo  affiliate website of Condo Living Realty in Scottsdale, Arizona. 

 

Whether you are in the market to sell or buy, our mission is to provide you with the service, tools and resources to allow you to achieve all of your Arizona real estate and investment goals.

 

We look forward to hearing from you soon!

 

Jeff Tallman, Broker/Owner

Office:  480-543-7007

Cell:      602-315-6333

JeffTallman@cox.net

Welcome to ArizonaHomes1.com
Text Box: Click Links Below To Go To Desired Page

Contact Us:

 

Office:  480-543-7007

Cell:       602-315-6333

Email:  JeffTallman@cox.net

Thinking about selling your Scottsdale home? 

List with us and we’ll feature your property right here!

 Arizona real estate

BLOG

 

We Specialize In:

 

Sonoran Heights

Condos

Second Homes

Vacation Homes

Resort Properties

Senior Housing

Out-of-State Homeowners

Internet Marketing

Mortgage Rates At Record Lows:

 

Fixed mortgage rates have dropped to record lows, sinking well below 5% on

30-year rates.

 

SOURCE:  Wall Street Journal

Terms you should be familiar with:

 

Anti-Deficiency Statute

 

Mortgage Debt Relief Act

 

HUD

 

HAMP-HAFA

 

Short Sale

 

Deed-In-Lieu

 

Condo Certification

 

Lender Approved Condominium Association

 

Owner Occupied

 

Investor Owned

 

Rental Property Statutory Assessor Registration

What is a 1031 exchange?  A 1031 exchange is a tax-deferred exchange of “like kind” INVESTMENT property which is held for investment or for productive use in a trade or business.  Section 1031 of the Internal Revenue Code provides one of the best tax strategies for deferring the capital gain tax that would ordinarily be assessed on the sale of investment property.  By utilizing an exchange to defer the capital gain tax, the property owner has substantially more equity to reinvest in a replacement property.  Rental or investment property owners can accomplish virtually any investment objective with tax deferred exchanges including:   

1) greater leverage, 2) diversification, 3) consolidation, 4) cash flow, 5) management relief, and 6) increased depreciation.

 

 

OVERVIEW OF THE TAXPAYER RELIEF ACT OF 1997Primary Residence, Internal Revenue Code 121 (Replaced IRC code 1034):

 

· Couples filing a joint tax return can exclude up to $500,000 of gain on the sale of their principal residence, and single filers can exclude up to $250,000

· New rates and rules effective for dispositions on or after May 7, 1997

· Home must have been the primary residence of both spouses for 2 of the last 5 years

· $500,000 exclusion available once every 2 years

· Vacation homes and second homes do not qualify

 

 

 

 

 

 

 

 

 

Featured Subdivision:

 

Sonoran Heights

126th Street & Via Linda

Scottsdale, AZ 85259

Text Box: CLICK HERE to enter Sonoran Heights using Microsoft bing maps.  Explore the neighborhood.  Be sure to use the Aerial Views and Birds Eye Views.  Really Cool!

CLICK HERE to go to the Desert Mountain Football website

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Frequently asked questions regarding short sales

 

Q:  My home is worth less than I paid for it 3 years ago.  Am I eligible for a short sale?

A:  No. To be eligible for a short sale, you must be delinquent on your mortgage payments and demonstrate a real hardship to your lender

      (ie, loss of job).

 

Q:  I am delinquent on my mortgage payments and have received notice of foreclosure.  Am I eligible for a short sale?

A:  Possibly.  Why are you delinquent on your mortgage?  Loss of job?  Loss of income?  If you can demonstrate your hardship to your

      lender, they may accept a short sale vs foreclosure.  Most lenders would prefer not to foreclose as this is time consuming & expensive.    

 

Q:  Are there tax ramifications on a short sale?  Should I get professional tax advice?

A:  YES!  In a short sale, the lender and the homeowner agree to sell the property for less than the mortgage balance.  The IRS treats this 

      difference as income to the homeowner.  The lender will issue a 1099 which shows the amount of loss.  However, the federal government 

      currently has a law in place known as the “mortgage debt relief act” which may allow a homeowner tax relief on the loss reported on the

      1099.

 

Q:  If my lender agrees to a short sale, will they attempt to “collect” the difference from me personally?

A:  It depends.  Arizona has a law known as the “anti deficiency statute.”  If you qualify, the lender is not allowed to pursue you for the debt.  

      Also, the terms between you and the lender regarding the short sale should be carefully reviewed regarding the lenders intent to either

      pursue or not pursue further collection efforts.

 

Q:  Does a short sale affect my credit?

A:  YES!  A short sale is a significant “hit” on your credit.  Generally though, it is not as severe as a foreclosure. 

 

Q:  Are short sales more time consuming than non short sales?

A:  Yes.  It can easily take 45-90 days for a lender to make a final decision regarding a short sale.  That is one of the reasons why you should

      communicate clearly with the lender regarding all details and what may or may not be acceptable to them and how their decision process

      works. 

 

Q:  Where can I get more information regarding short sales?

A:  On this web page, just above this “frequently asked questions” section, there is another section called “sample forms library.”  You can

      find the “short sale seller advisory” form there which contains detailed information regarding short sales.

 

Q:  Can you help me with a short sale?

A:  Yes, we can help.  Give us a call or send us an email at the contact information located at the top of this web page.

Northsight Office

13847 N Northsight #101

Scottsdale, AZ 85260

Business:  480-624-3149

Fax:  480-315-8378

McCormick Ranch Office

7975 N Hayden Rd #C280

Scottsdale, AZ 85258

Business:  480-607-0200

Fax:  480-607-3370

Enhance your Home’s exposure!

By using multiple, targeted websites to increase our internet presence, your HOME will be in front of millions of potential buyers who may not have

seen  it otherwise.

 

In addition to www.ArizonaHomes1.com, we operate 4 additional high traffic websites to feature your Scottsdale Property.  Check them out!

 

www.ScottsdaleCondos.com

 

www.CondoLivingRealEstate.com

 

www.ShowcaseHomesAZ.com

 

www.ArizonaCondos.net

 

Your CONDO will also be featured on

Jeff Tallman-Experience & Qualifications

 

Arizona State University, W.P. Carey School Of Business, B.S., Business Administration, 1983, With Honors

 

Licensed Real Estate Broker, State Of Arizona

 

PepsiCo, Business Development Manager:  Phoenix, Southern California, Las Vegas, Seattle, Hawaii, Alaska

 

Affiliated with:

 

Scottsdale, Arizona & National Association of Realtors

 

Life Member, Arizona State University Alumni Association, Sun Angel Foundation, Sun Devil Club

 

25+ years experience in Valley Real Estate

 

Specializing in Scottsdale Condos, Town Homes, Vacation Homes, Second Homes, Resort Properties, Senior Housing,

Investor Property, 1031 Exchange, Out-of-State Homeowners, Short Sales, Bank Owned and Foreclosures

 

Protecting And Promoting Our Clients Interests In All Their Arizona Real Estate Transactions!

 

 

 

 

 

Did you know that….

 

According to the National Association of Realtors, 48% of 2nd home buyers pay cash

 

84% go online to find properties & brokers

 

Scottsdale is in the top 10 for 2nd home ownership

2011

Season

Season

 

DMHS @ Highland

Thursday, October 6, 7:00pm kickoff

Tony Tabor Head Coach

Region Coach of the

Year 2009