Many years ago, we purchased a home in Carlsbad, using a realtor that was recommended to us - Jim Klinge. Fast forward to 2025, we recently had the privilege of selling 2 homes in Carlsbad, CA and didn't hesitate to reach out to Jim and Donna Klinge of Klinge Realty Group to guide us through the sales. The transactions were very different, each with its own unique situation, opportunities and challenges. From start to finish, Donna and Jim helped navigate the pre-sale preparation, the listing, showing of the house, buyer negotiations, the final close and all of the paperwork and decisions in between. What stands out with both transactions is the professionalism of Jim and Donna (and their team), wonderful communication (timely, relevant, concise), their deep understanding of market dynamics (setting realistic expectations), their access to top-notch contractors, and last, their ability to guide us across the finish line successfully. We wouldn't hesitate to use Jim and Donna in the future and highly recommend them for anyone looking to buy or sell a property in North San Diego County.
Maybe people are just going to go into Foreclosure knowing that they can get another year or two of free rent?
What are the tax implications of a Short Sale vs. a Foreclosure followed by a Bankruptcy?
“What are the tax implications of a Short Sale vs. a Foreclosure followed by a Bankruptcy?”
As far as I know the tax exemption applies equally to Short Sales and Foreclosures. You’d have to be proactive enough and seriously worried that the government won’t provide some kind of relief after the fact to enter into a short sale now. It’s a gamble of more free rent versus getting nailed by the IRS in 2013 or later. Bankruptcy might get you out of the taxes but that’s not guaranteed. It wouldn’t surprise me to see the “free renters” get hammered later on by either the IRS or debt collectors that pick up seconds/HELOCs with a recourse option.
If I had to guess who would blink in a game of chicken between the free renters and Congress I think Congress will blink before the election. If I had any money in the game that would be where I’d put my bet.