The American dream is under attack. Or, at least, that’s the message Movoto heard from realtors when we discussed a tax break that encourages homeownership. The mortgage interest deduction, a tax break introduced in 1913, has come under fire from politicians on the right and the left. Most recently, it was from GOP presidential nominee…
Some recovery has been seen in the realm of pending home sales since September 2010 — a 6.4% increase year-over-year, in fact. However, the September 2011 rate represents a 4.6% drop from where the rate sat in August 2011. What’s more, declines are present in every region of the country: The West suffered a mild…
According to the National Association of Realtors 2011 Report regarding investment and vacation home sales during 2010, the report revealed that these sales were quite steady. Vacation homes sales represented 10% of all sales transactions during 2010, while investment sales presented 17%, unchanged from 2009. Statistics show that with tight credit conditions, a large number…
I know I am little late to the party, but the government is considering lowering the FHA (Federal Housing Authority) and GSE loan limits* to their pre 2008 crisis levels. These government authorities currently back loans up to $417,000, or 125% of the median homes price in particularly pricy areas (Think San Francisco or New…
The real estate market and the new Medicare tax imposed by the Obama Administration seem mutually exclusive, but according to the National Association of Realtors (NAR), investors in real estate might be unexpectedly affected. The recently issued 3.8% tax on “unearned income” concerns only high income taxpayers; the IRS considers a high income taxpayer to…
On their 2009 Profile of Home Buyers and Sellers, the National Association of Realtors released a list of primary reasons why home sellers have put their home on the market. Job relocation, low square footage, and change in family situation rank somewhat high on the list, but the report also showed that 2% of all…
Buying your first home ranks very high on the “life accomplishments” list, right up there with buying your first car and getting your first job. But what about buying your second or third home? Is now the right time to buy? Should you consider making the upgrade to a bigger, nicer home? Upgrading to a…
Do discounted real estate agents get you lower-quality services? As a buyer, your buyer’s agent fee is paid for by the seller, but what about those real estate companies that offer the buyer a rebate commission for the home you purchase? What this essentially means is that these discounted real estate agencies are giving you…
The New York Times reported that Congress is attempting to pass a bill that will allow all buyers—not just first-time home buyers—to cash in on a $15,000 tax credit meant to stimulate the economy. This would increase the Federal Government’s tax credit program from a $15 billion stimulus to a possible whopping $100 billion dollar…
This month in their online edition, The Wallstreet Journal recounted the tale of Brendt Montgomery, a buyer who rushed into the purchase of a home at a cheap price and regretted the consequences instantly. Brendt did what many potential homebuyers do when searching for a home in today’s market: buy first, ask questions later. This…
