Open House from Creators Syndicate

Real Estate Recession Will be Over in 2010 for 11/02/2009

Mon, 02 Nov 2009 00:00:00 -0800

The real estate market will experience growth and expansion next year, according to projections from most major real estate organizations. The recession will be behind us.

That's the forecasting consensus of the National Association of Realtors, National Association of Home Builders, Mortgage Bankers Association, Fannie Mae and Freddie Mac. They are all predicting solid growth in 2010, a ...

Updated: Mon Nov 02, 2009

Manufactured Homes: a Viable Option for 11/09/2009

Mon, 09 Nov 2009 00:00:00 -0800

Individuals and families who are determined to own their own home but have very limited income often opt for a mobile home. Or they may go to the next level and purchase a manufactured home. Both of these factory-built home options are significantly less expensive than a new site-built home.

Construction costs per square foot for a new manufactured home average from 10 to 35 percent less ...

Updated: Mon Nov 09, 2009

Impact of New Home Buyers Tax Credit for 11/16/2009

Mon, 16 Nov 2009 00:00:00 -0800

Now that the extended and expanded tax credit bill for home buyers has been passed by Congress and signed by the president, more people are seriously considering buying a home or selling their residence.

A quick review of the new tax credit law:

Instead of terminating on Nov. 30, the $8,000 credit for first-time home buyers was extended to April 30, 2010. It is effective for home ...

Updated: Mon Nov 16, 2009

College Towns: A 'Sleeper' Opportunity for Home Buyers for 11/23/2009

Mon, 23 Nov 2009 00:00:00 -0800

College towns have unique characteristics and benefits for home buyers. This is a fact of real estate life that is seldom recognized by consumers.

A recent study revealed that homes in these communities offer generally undiscovered benefits. They are affordable and those markets are exceptionally stable. The cultural and economic stability associated with higher education institutions ma ...

Updated: Mon Nov 23, 2009

Cost-Saving FHA Streamline Loans for 11/30/2009

Mon, 30 Nov 2009 00:00:00 -0800

Many homeowners are still not aware of the substantial advantages of refinancing their FHA mortgage with a new FHA Streamline Loan. It's a very cost-effective way to obtain a new mortgage with minimal paperwork and lower interest rates and payments.

The basic FHA Streamline Loan has been structured to refinance another FHA mortgage. This special loan does not require an appraisal and fee ...

Updated: Mon Nov 30, 2009

Upcoming Paperless Real Estate Transactions for 12/07/2009

Mon, 07 Dec 2009 00:00:00 -0800

The development of more sophisticated computer software programs is moving the paperless era closer to reality. This includes documents related to home sales and the transmission of those documents to participating parties, including the legal use of e-signatures.

Recognizing the growing demand for this technology, the National Association of Realtors recently partnered with DocuSign, a ...

Updated: Mon Dec 07, 2009

How to Avoid Moving from Your Home for 12/14/2009

Mon, 14 Dec 2009 00:00:00 -0800

Families who are facing imminent foreclosure and loss of their home might qualify for a special program that would keep them in their home.

A Deed-for-Lease program was implemented in November by Fannie Mae, a major government-sponsored buyer of existing home mortgages. It's a rather simple procedure where the qualified homeowner voluntarily transfers the deed to his property back to the ...

Updated: Mon Dec 14, 2009

Real Estate Investing Revives for 12/21/2009

Mon, 21 Dec 2009 00:00:00 -0800

Investors are taking a new and positive view of homes and other real estate as a viable target for their investment funds. The trend is worldwide.

That's the consensus of investors responding to a survey and study commissioned by Barclays Wealth, a wealth management firm. It was a global survey of more than 2,000 wealthy (high-net-worth) investors. It showed renewed confidence in investi ...

Updated: Mon Dec 21, 2009

Foreclosed Homes Appeal to Special Buyer Groups for 12/28/2009

Mon, 28 Dec 2009 00:00:00 -0800

Purchasing a foreclosed home is still an attractive option for many buyers, but overall their appeal is diminishing, according to a recent survey.

Currently, the most active seekers of a foreclosed property are first-time buyers, investors, homeowners wanting to trade up to a larger home and renters wanting to become homeowners. Harris Interactive conducted the survey, as commissioned by ...

Updated: Mon Dec 28, 2009

Raffles Spark New Interest for 01/04/2010

Mon, 04 Jan 2010 00:00:00 -0800

More homes, particularly luxury houses and condos, are being offered as the key prize in raffle-drawing projects throughout the country. The dream of acquiring such a property free and clear for the price of a raffle ticket (typically $10 to $100) is a very strong motivator.

Reason for the growing trend: High-priced homes in many markets are still experiencing slow sales, often being on ...

Updated: Mon Jan 04, 2010

NOTE TO WOODARD EDITORS: THE COLUMN WILL NOT BE AVAILABLE THIS WEEK, BUT WILL RETURN WITH THE REGULAR COLUMN FOR RELEASE JAN. 25. THE FOLLOWING REAL ESTATE COLUMN BY EDITH LANK IS AVAILABLE AS A SUBSTITUTE THIS WEEK. THANK YOU FOR YOUR ATTENTION. -- CREAT for 01/18/2010

Mon, 18 Jan 2010 00:00:00 -0800

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Updated: Mon Jan 18, 2010

Moved into a Rental for 01/25/2010

Mon, 25 Jan 2010 00:00:00 -0800

Ms Lank: Got a question in regards to the $6,500 tax credit for current homeowners. The rule isn't clear.

I'm a longtime homeowner of 20 years, plus six rentals. In 2009, I got divorced and moved into one of my rentals. My ex-wife got the primary residence, plus two rentals.

The question of the day: Am I eligible for the $6,500 tax credit if I buy before the deadlines? — P.V ...

Updated: Mon Jan 25, 2010

What's a Bedroom? for 02/01/2010

Mon, 01 Feb 2010 00:00:00 -0800

Dear Edith: Can built-in wardrobes take the place of a closet in a bedroom? I want a room to still be designated as a bedroom, but I am looking at using built-ins and taking out the old closet. — e-mail

Answer: When can you legally call a room a bedroom? To find out, check with your local building bureau. Only in some places is a closet essential. After all, many landmark houses we ...

Updated: Mon Feb 01, 2010

Claiming the Credit for 02/08/2010

Mon, 08 Feb 2010 00:00:00 -0800

Dear Edith: We are first-time buyers and just moved into our new home. How do we claim the $8,000 tax credit? — e-mail

Answer: You claim it on the federal tax return you're probably preparing right now. You can't file electronically. You'll need a paper return because you must include proof of your purchase, usually the HUD-1 settlement statement you should have received after the ...

Updated: Mon Feb 08, 2010

Date was Wrong for 02/15/2010

Mon, 15 Feb 2010 00:00:00 -0800

Dear Edith: Has there been a change to the existing tax credit? I purchased a repeat principal residence in June 2009. According to your article, I would qualify for the $6,500. My tax agent said that the dates posted in your article are currently not eligible for the $6,500. — e-mail

Answer: Please give my apologies to your tax agent. I wrote the item you're referring to on the da ...

Updated: Mon Feb 15, 2010

Date was Wrong for 02/15/2010

Mon, 15 Feb 2010 00:00:00 -0800

Answer: Please give my apologies to your tax agent. I wrote the item you're referring to on the da ...

Updated: Mon Feb 15, 2010

Tax Credit for Seller for 02/22/2010

Mon, 22 Feb 2010 00:00:00 -0800

Dear Edith: I recently listed my house. I was wondering if I sell it within the allotted time frame, will I be entitled to the $6,500 at tax time?

I bought it six years ago with my ex. After he left four years ago, we put it in my name alone. I think I am entitled to it. — C.

Answer: You don't mention buying a replacement home, and of course, the repeat buyer tax credit is f ...

Updated: Mon Feb 22, 2010

Where to Start for 03/01/2010

Mon, 01 Mar 2010 00:00:00 -0800

Dear Edith: I am a 27-year-old single female who works as a nurse. I still live with my parents, but I would really like to purchase a small home or town home within the next year. I have no clue where to start this process. Any advice on getting started and programs that would assist me? — e-mail

Answer: One program that will help you is $8,000 toward your federal income tax bill, ...

Updated: Mon Mar 01, 2010

Help for Unemployed Borrowers for 03/08/2010

Mon, 08 Mar 2010 00:00:00 -0800

Many unemployed mortgage borrowers who are unable to make their monthly payments may soon have a new opportunity to remain in their homes. Proposed by the Mortgage Bankers Association, a new forbearance program would allow qualified unemployed mortgage borrowers to remain in their homes while they seek new employment.

According to the proposed program, loan servicers would reduce the bor ...

Updated: Mon Mar 08, 2010

Short-Sale Home Purchases Rising for 03/15/2010

Mon, 15 Mar 2010 00:00:00 -0700

Short-sale homes are now more viable purchase transactions than they have been in past months.

Short sales are homes where the current mortgage balance is more than the market value of the property, and the lender has agreed to discount the loan balance to make a sale more feasible. These situations, commonly known as "underwater" or "upside-down" homes, are experienc ...

Updated: Mon Mar 15, 2010