Category: Real Estate and Mortgages

Thanks to the housing affordability crisis, many fundamental truths about owning an home have come under question. For example, owning a home was considered a key plank towards financial freedom and along with 401K/IRA retirement plans was the best way to build financial security over the longer term. Similarly a popular…

Mortgage lenders often attract homeowners seeking to lower their mortgage interest rate with some simple math, usually presented in one of two ways: 1) Comparing the nominal closing costs to the total savings from 30 years of a lower monthly payment, or 2) How few months it will take before…

Mortgage interest rates are at their lowest point in decades (about 4.5%) and the housing credit has been in effect for more than three years, yet the housing market is tepid at best, with foreclosures at record highs and government housing institutions having to put more distressed assets on their…

While not as generous as in previous years, there are several energy efficient tax credits and breaks available for 2022, which can be claimed when filing returns in 2023. This includes the residential energy efficient property credit, which allows for a credit equal to the applicable percent of the cost…

The home buyer credit, extended and expanded over the last 3 years is set to expire at the end of this month with Congress still unable to approve the extension as part of HR 4213. However, recently released data for May 2010 shows worrying trends of sharply declining sales of…

The market for government loans is skyrocketing. More and more families are ready to settle down in their dream home, and government-backed mortgages seem like a way to make home ownership happen quickly and easily. Three loans programs in particular have become buyers’ favorites throughout the last few years: VA,…

[Updated April 2010] With a weakening housing market and impending expiration of the home buyer credit, the Obama administration and Treasury have stepped up efforts to help struggling home owners facing foreclosure, including subsidies for the unemployed and borrowers who owe more than their home is worth. The updated/revised plan…

Following my recent post on Tips for Selling your Home, I received a reader email asking me to clarify the tax consequences of selling their home and what the potential liability/capital gain implications would be. Based on what the IRS says, here are the key tax facts to keep in…

Government incentives and a booming economy have definitely made this a sellers market. But the key for any seller to get the highest price possible is to still make their home stand out to prospective buyers, which involves having a good sales strategy before and while selling the house. Here…

[Updated Nov] - See this post for details on the home buyer credit extenstion approval and new provisions: 2010 First-Time Homebuyer Tax Credit Extension Approved and Expanded to Existing Home Owners. New Provisions Not Retroactive A number of would-be home buyers and the real estate industry are anxiously wondering if…

MISTAKE #1 - Choosing a real estate agent who is not committed to forming a strong business relationship with you HERE’S HOW TO AVOID IT: Making a connection with the right real estate agent is crucial. Choose a professional who is dedicated to serving your needs—before, during and after the…

Like me, a good friend of mine recently bought a house after a long and arduous search. In talking with him I thought his journey to buying a house would provide some timely advice for those in the market to buy a house (hurry before the new home buyer credit…

Foreclosure filings in the U.S. exceeded 300,000 for the sixth straight month as job losses that boosted the unemployment rate to a 26-year high left many homeowners unable to keep up with their mortgage payments. A total of 358,471 properties, or one in 357 households, received a default or auction…