Short sale debt relief Act—Extended

by Joe Salcedo on 12:13 am

Good news for homeowners looking to short sale their house and didn’t quite make it last year, because it has been extended through 2013 as part of tax bill H.R. 8. Basically the debt relief states that if you owe 150,000 and you short sale for 100,000 you won’t have to pay the tax on […]

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Looking at the last five years, when Northern NV housing market started slipping, and as we’ve been seeing signs of recovery this year, I’m pleasantly surprised to see Tahoe’s housing market as strong as it is today.  Honestly, I though it was going to be a lot worse for us. I’m glad it seems to […]

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Financial Planner Reveals He Went Through a Short Sale

July 24, 2012

Stumbled upon a fascinating article on NY Times: How a Financial Pro Lost his House… “I’m a financial adviser. I get paid to help people make smart financial choices, and I speak and write about personal finance issues for this publication and others.” He is painfully honest about his experiences (hey, he’ just like us!): […]

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Bank of America to test plan to allow distressed homeowners facing foreclosure the chance to rent back their home & wipe out their mortgage debt

April 2, 2012

Very interesting news I read in the NY Times this morning: “And Bank of America said in late March that it would begin testing a plan to allow homeowners facing foreclosure the chance to rent back their homes and wipe out their mortgage debt. Eventually, the bank said, it could sell the houses to investors.” […]

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What Area in Tahoe Has the Most Short Sales?

February 22, 2012

I was thinking of a topic to write about today and a question came to mind, “What part of Tahoe has the most short sales?” What is the benefit of knowing, you may ask. Good question. Hmmmm.  I have only one (possible) good answer to that question — distressed properties (short sales and foreclosures) when […]

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The Case For Assembly Bill 284 — Added Steps (and fines) for Banks Before Foreclosing on a Property

February 7, 2012

There has been a lot said about the controversial Assembly Bill 284 — a law that makes it harder for banks to foreclose on a home.  To be clear the bill is not preventing banks from taking ownership on a delinquent property.  Rather, it’s a few added steps for the banks to fulfill before foreclosing […]

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“32% of the properties sold being distressed properties”

January 7, 2012

32%of the properties sold being distressed properties” This was penciled-in in one of the well written year end reports for North Tahoe and Truckee. (Note: This report was compiled from North Tahoe- Truckee MLS.) Some things I thought were interesting: In 2011… 16.9% of sales in North Tahoe was foreclosed homes (206 homes). Just a […]

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Most Expensive South Lake Tahoe Short Sales (part 2)

November 30, 2011

Last week I presented the priciest short sales in the Nevada side of Lake Tahoe.  Today, we will look into the California side — South Lake Tahoe and Truckee.  But before that, I want to give you an idea on some of the most expensive short sales around the country. Miami and South Florida’s Most […]

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Most Expensive Lake Tahoe Short Sales

November 24, 2011

Had an idea this evening on listing the most expensive short sales at specific areas in Lake Tahoe.  With a bit of research the results revealed some of the finest short sales not only in California and Nevada, but the whole country.  If you’re new to short sales you can learn more here:  short sale […]

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NEW Feature: Lake Tahoe Short Sales Listings

November 10, 2011

Good afternoon folks! I’m happy to announce a new feature for  You can now search for available short sale listings in Lake Tahoe. Most of the short sales are located in Incline Village, Stateline, Zephyr Cove and Glenbrook. Also, I also added another feature to see pending short sales in Lake Tahoe. If you’re […]

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“Joe’s your man if you need someone to trust. Joe Salcedo is a hard working Realtor. Joe is very professional and will go the extra mile.”

– Philip Duane Johncock

“I was laid off from the state in November of 2007 due to major budget cuts. We were no longer able to make our house payments as the job market was just beginning to get worse and worse. My agent in San Jose found Joe Salcedo in Reno for me and told me he has a lot of experience in short sales. He priced our home at a very realistic price in relation to the market values at the time. Joe was very professional and before we knew it we had an offer on our home. In September of 2008 our home closed and the bank forgave the difference. A short sale comes off of your credit in a much, much shorter time than a bank foreclosure. We will be forever grateful for the assistance of Joe Salcedo”

– James and Marsha McGinnis (feel free to call for a reference, Joe has my number)

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