Artest goes short

Ron Artest loves animals
Ah, how cute.

I missed this story about former Sacramento King Ron Artest shorting his home in Loomis.

The short sale that Artest used to escape his losing real estate investment has become a commonplace tactic in an area beset by plunging housing prices…In Sacramento County, 58 percent of homes for sale in mid-May were short sales, according to Metrolist Services.

Wow. The house is dog-friendly though (FauxPaws!).

With the sale, the forgiven debt is $480,000, but Artest just might get a parting gift out of his short stay in Sacramento. Recently signed state and federal legislation eliminates taxes on forgiven mortgage debt from 2009 through the end of 2012.

Eliminates taxes? Whoa, whoa, whoa. I thought taxes were, oh, nevermind…

I wonder if this will be included in his new reality series.

Author: RonTopofIt

RonTopofIt is a complex personality, as are most of the small breed of modern day renaissance millionaires. He wishes more people were like him and yet believes that it takes all kinds. You've met RonTopofIt many times, you just don't remember him.

One thought on “Artest goes short”

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: