Category: Real Estate and Mortgages

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…

Biden $15,000 Home Buyer Credit? President Biden’s housing agenda includes a proposal for a $15,000 first-time homebuyer tax credit. This is similar to the home credit provided over 10 years ago under President Obama (details below). The difference is that this credit is to help American's deal with home affordability vs the original…

New rules for home appraisers implemented a few months ago following the housing market meltdown are causing buyers/sellers, realtors, home builders and mortgage companies further pain in the already depressed housing market. Not only are appraisal costs going up for home buyers, but nearly 60% of home builders are running…

The 2026 FHA loan limit just rose to $541,287 in most of the country, and conventional conforming loans now top out at $832,750. Beyond those limits, the core FHA-versus-conventional decision hasn't changed: it comes down to your down payment, your credit score, and how mortgage insurance is structured on each.…

Despite median home prices across the nation falling by 14 percent to $169,000, there are emerging signs that the housing market may be stabilizing and reaching a bottom. For new or would-be homeowners, mortgage rates below 5% and all the stimulus tax incentives have made buying a house much more…