What I learned in a San Diego Real Estate Short Sale Seminar today.

While real estate short sales are trending down, along with REOs, and equity sales are trending up, the presenter was of the opinion that we have approximately 2 more years of a strong short sale market.

The speaker, and former B of A exec, based his opinion on the statistic that 21.5% of the homes in the United States with mortgage loans are still under water - 25.2% in California, 34.9% in Arizona, and 52.4% in Nevada.

It is good to know that distressed home sales are decreasing, but we are still not out of the water yet.

This is why the Mortgage Forgiveness Debt Relief Act of 2007 ("MFDRA") has been extended to December 31, 2013. The MFDRA exempts as taxable income up to $2,000,000 of otherwise Taxable Deft Relief when a homeowner does a short sale to liquidate their underwater home.


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Mark Harbaugh, J.D. has been a licensed REALTOR® in California since 1998.  He is a real estate Broker, holds a Bachelors Degree and a Law Degree.

Since 1998, Mark has been providing expert representation to buyers and sellers of homes, condos, multi-unit properties and multi-million dollar estates. 


His clients include friends - old and new - colleagues, professional football and basketball players, original founders of Fortune 500 companies and other high-profile personalities, who value their privacy and anonymity.  Mark has also consulted Nationally and Internationally with many interested in buying and selling real estate.

Mark can be reached at 619-246-2860.

Email: markonthemark@gmail.com

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