Two things to take note of in regards to the Mortgage Forgiveness Debt Relief Act for Californians…

1. As you know, the bill includes a provision to extend the Mortgage Forgiveness Debt Relief Act, which will for one more year exempt the taxation of mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale or loan modification (including any principal reduction).  While debt relief has been extended at the federal level, the California exemption expired at the end of 2012, so forgiven mortgage debt is considered taxable state income for now.

2. Capital gains rates will remain at 15 percent for those earning less than $400,000 (individual) and $450,000 (joint).   Gains above those income levels will be taxed at 20 percent.  Gains on the sale of principal residences will remain unchanged and continues to exclude the first $250,000 for single taxpayers and $500,000 taxpayers filing jointly.

It seems California is still on the fence as to whether or not they will extend the Mortgage Forgiveness Debt Relief Act. It will be interesting to see what lies ahead!

Chase International

Chase International is known as a company that sets itself apart from the rest. Chase International’s President and CEO, Shari Chase, has recently been featured in the “Captains of Industry” section of the Reno Gazette Journal.

Chase International Leading Vision

Chase International started out as a small real estate brokerage and has grown to include 8 offices (including a European branch in London) and about 225 real estate agents. Shari Chase explains that a big reason why the real estate brokerage has been so successful is because we “decided to do things differently. We didn’t look at the industry and say, ‘This is how the industry works.’ We created our own vision for the marketplace.”

More Details on Chase International Article

Click on the image to view the PDF and entire article. Or click on the link to view online.

Taylor Made Menus

A good friend of mine recently launched a new blog site featuring her amazing recipes and cooking tips! Some of the best meals I have ever had have been cooked at Virgina Taylor’s house and I wanted to share this great new site! Virgina Taylor is home owner in the Bear Creek community and spends much time in Alpine Meadows.

Local Lake Tahoe Recipes

Taylor Made Menus is the site and it includes recent recipes, featured menus and other helpful kitchen information.  The recipes are categorized under various styles such as, Easy Weeknight Menus, Multiple Course Menus or Seasonal Menus and all of the recipes have been indexed under under the standard categories such as appetizers, salads, poultry, etc.  Also included is the cook’s favorite equipment ideas and cookbooks.

Click here for some great recipe and cooking ideas!

Current interest rates are unbelievable! Some are even as low as 3.375%! If you are thinking about purchasing a home, here is another reason why now is the time. Click on the image below for specifics on current interest rates. Or let me know if you would like me to put you in touch with an outstanding local mortgage broker!

Current Mortgage Interest Rates in Lake Tahoe