Brand new, beautiful, energy efficient home is future ready for Solar.  This spec home is a 3 bedroom, 2 bath, 1 story house with high ceilings, covered patio, an open floor plan, energy star appliances, dual pane vinyl windows, and a spacious 2-car garage.  All of  the Silverbell by Doucette homes are LEED certified for ”GREEN” Eco-friendly design, energy efficiency & sustainability.  The fascia is wrapped to withstand the Tucson sun, it never needs painting. Homes have insulated interior & exterior pipes, 14 SEER HVAC, all bedrooms have returns and are security system ready.

This new Silverbell by Doucette community is located in a scenic, higher elevation, Tucson area, minutes from Downtown, the University of Arizona, Pima College, hospitals, parks, golf courses, public transportation, shopping, restaurants, entertainment, and more!

Brochure, floor plans, maps emailed upon request.

Also available and ready to be built: New 1 & 2 story, 2-4 bedroom homes starting at only $154,900.  Many options, upgrades and floor plans available!

Contact Michelle De Leon, Prudential Foothills Real Estate for showings and information.

(520) 429-1111
Michelle@MichelleDeLeon.com

The Mortgage Forgiveness Debt Relief Act of 2007 relieves homeowners from being taxed on the deficiency when they obtain a Loan Modification, Short Sale and even in a Foreclosure. This Tax Act is only good through 2012, which means if you have forgiven mortgage debt after 2012, expect a tax bill. Homeowners who are foreclosed, sell short or modify their loans will be taxed as income for the deficient balance.

Tara-Nicholle Nelson, Broker in San Francisco, CA says, “While the long-term housing outlook is beginning to look up, 2011 is projected to be the peak year for foreclosures during this market cycle. Distressed homeowners who are on the brink of a short sale, loan modification or foreclosure should be aware that normally, any mortgage balance that is wiped out by one of these outcomes is taxed as what the IRS calls Cancellation of Debt Income, or CODI.”

“Under the Mortgage Debt Forgiveness Relief Act of 2007, the IRS is currently not charging income taxes on CODI incurred through a loan mod, short sale or foreclosure on most primary residences through 2012. But right now, banks are taking many months, or even years, to work out mortgages in all of these ways; the average foreclosure in New York state right now occurs only after 22 months of missed mortgage payments. If you foresee any of these outcomes in your future, don’t put things off. Do what you can to get to closure on your distressed home and loan, ASAP, while you won’t have income taxes to add as the insult on top of your significant housing injury.”

Mortgage Tax Forgiveness

For all counties in Arizona, the 2011 limit is the standard $417,000.

Realistically, the chances of these events happening are unlikely. In the end, rates may see some brief and fleeting improvements, but many experts believe they will likely continue to creep up over time.”

1)  PNIP HAP NSP-2 offers $20,000 to purchase a vacant foreclosed home in the NSP-2 target area. The purchase price must be 1% below the appraised value. The HQS inspection is not a requirement, but the home must be habitable.

2) The 3.5% up to $5,000 homebuyer assistance program is back. Homebuyers can buy a new or resale home with these funds.

3) The 4.5% up to $6,000 homebuyer assistance program with an MRB loan is still available

The HQS inspection is still required with both of these programs

12854 N Fresnal Canyon Road Marana, AZ 85658

4 Bedrooms, 2 Bathrooms, Click to view slideshow.

Swimming Pool, Bay Window in Living Rm/Dining Rm, Den off Living Rm, Family Rm off Kitchen, Covered Patio, Double Drs to Master. Popular Open Floor Plan with Archway, Niches, High Ceilings & Many Upgrades. Stucco, Tile Roof, Block Wall Fence, Sidewalks, Quiet Area. NOT a Short Sale, Quick Close! Qualifies for FHA 1% Down Program. USDA Money is now available! ~You’ll love this home!

Directions:

N-Ina/La Cholla, W-Tangerine Rd., N-Dove Mountain Rd., L-Moore St., R-Tortalita Rd., R-Cochie Springs St., L-Fresnal Canyon St. to address.

Sponsored by: Sol Casinos, Gadabout, Faye Morse, Ace Hardware, Pierini, La Encantada, Sam Levitz Furniture, Tucson Lifestyle, Tucson Subaru, 94.9 MIX FM, BFC, VOLVO of Tucson, The Art Institute of Tucson and Several Silent Auction Donors from Our Community.

• $265,000
• 4 Bedrooms, 2 Bathrooms,  1928 sq. ft.
• Living Room, Family Room & Den
• Covered Patio & Pool
• High Ceilings, Tile Roof, Stucco
• Built in 2000
• Qualifies for FHA 1% Down Program

~ You’ll love this home!

Michelle De Leon  (520) 429-1111

Prudential Foothills Real Estate

7231 E. Speedway

Tucson, AZ 85710