Mortgage Debt Relief Act Extended Through 2016
Buried deep in the Tax Extenders provisions of the 2016 Appropriations Bill, which was quietly passed by Congress and signed by President Obama on Dec. 18, 2015, was a very unpublicized extension of the Mortgage Forgiveness and Debt Relief Act of 2007. This extension is of great importance for homeowners who are still suffering under the weight of underwater homes. Under the Mortgage Forgiveness Debt Relief Act of 2007, taxpayers can generally exclude income resulting from the discharge of debt on their principal residence. This latest extension will continue said tax protection for homeowners through the 2016 tax year, which means that if you relinquished your home in a foreclosure, short sale, or deed in lieu, or had a loan modification resulting in debt forgiveness in 2015, or if one of these unfortunate events happens to you in 2016, you may be able to take advantage of the latest extension of the act. Info: irs.gov/uac/home-foreclosure-and-debt-cancellation
Moderate Lake Tahoe Real Estate Sales Volume in 2015
The year 2015 brought mostly positive results for the broader North Tahoe/Truckee real estate market. As a whole, the market generated moderate sales volume and median price increases in some segments. The lakefront segment saw a 16 percent increase in the median sales price and solid sales volume of 31 closings on the North and West Shores, including California and Nevada. Across The North Tahoe/Truckee market, 1,136 single family homes closed in 2015, a 5.4 percent increase year-over-year. Strong demand is expected to continue into 2016. “Less-than-ideal winter conditions and low lake levels resulting from four years of drought had some impact on the market,” said Bill Dietz, president of real estate at Tahoe Luxury Properties. “However, the expectation is that a strong winter for 2015/16 will bring additional energy into the real estate market.”
Bill Dietz is Lake Tahoe’s Number One Real Estate Agent Two Years in a Row
Bill Dietz, president of Tahoe Luxury Properties, closed 2015 as the area’s top real estate agent, with $75,609,700 in sales in California and Nevada, according to dollar volume reported by Tahoe Sierra MLS and Incline Village MLS data. Contributing to the year’s success was the sale of The Champagne Estate in Incline Village for $12 million, which was the Lake Tahoe basin’s highest recorded sale in 2015, per MLS reports. Dietz represented both the seller and the buyer. In 2014, Dietz sold $89,918,345 in real estate sales, also finishing the year as the top agent of the region, making his two year total $165,528,045, which includes 13 lakefront home sales.
Architect Todd Mather Wins Best of Houzz 2016 Award
Houzz, a website designed for home remodeling and design, has named Todd Mather Best of Houzz 2016 for customer service. The award recognizes the top three percent of professionals with the most five star reviews for projects completed in the previous year. Houzz is the leading web platform for remodeling and design. TGM Architect is located in Tahoe City, and principal Todd Mather is licensed in California, Nevada, and Utah, and is known for his ease and adeptness in collaborating with clients and peers to create projects that flow seamlessly and logically with the surroundings. A member of the American Institute of Architects, Todd is a chair on the Tahoe Basin Design Review Committee. Some of Mather’s projects have been featured in Utah Homes & Garden, Park City Magazine, and Utah Style and Design. Mather has 14 five-star reviews on houzz.com. Info: tgmarchitect.com