All Real estate Articles

In residential real estate, 2009 arrives much the same way that 2008 did: via a rocky road with deepening potholes. While more homebuyers are swooping in and picking up great deals, and sales are slowly increasing in many markets, the ongoing excess inventory of foreclosed homes continues to depress the market. While potential buyers are getting very low mortgage rates, they also are facing Read more...

If 2008 was the year of foreclosures and when "underwater" entered every homeowner's lexicon, 2009 will be the year of refinances and mortgage modifications. In hindsight, the mortgage mess seems inevitable: Absurdly loose credit from 2002 to 2007 led to a bubble in house prices, scores of subprime lenders went out of business in 2007 as the risks caught up with them, and the misery Read more...

A new federal housing law has raised the ceiling on the amount of money seniors can obtain from a reverse mortgage and lowered the fees charged for the loan. Previously, with federally backed loans, the amount a homeowner could borrow had to stay below the dollar limit the county set. But the new law, which takes effect on January 1, 2009, sets a national limit at $417,000 and up to $625,500 Read more...

Bad news about housing is rampant -- foreclosures, upside-down home equity, falling real estate values. But there is some good news about homeownership, and it starts with the Habitat for Humanity organization. If you are looking to do some home improvements, consider this tip from our Frugal $ense winner for December, Angeline Zemba, of Mechanicsburg, Pa. Bankrate: How did you come across Read more...

It's the worst-case scenario for home sellers: To endure price cut after price cut until their houses become stigmatized and hungry buyers smell blood. But how can you avoid this unpleasant scenario in today's troubled housing markets? The answer, experts suggest, is to put your home on the market at the right price, and if it doesn't sell quickly, cut the price deep and fast, so you won't be Read more...

This week's abrupt drop in mortgage rates will provide an opportunity for some borrowers to refinance. But a large-scale refinancing boom is unlikely. A good candidate for a refinance is a homeowner who: has good credit; owns a house that is worth substantially more than the outstanding debt on it; earns enough to repay the loan and can prove it; isn't overburdened by student, Read more...

If flipping a house in today's real estate market seems riskier than trekking with a ragtag band of hobbits to Mordor, take heart: Home flippers can still find plenty of opportunities, though they're not entirely without risk. It may seem counterintuitive to invest in real estate when the housing market is in its darkest hour. But in fact, it may prove to be the most optimal time for such a Read more...

Behind on your mortgage? The federal government might fast track a way to reduce your monthly house payment. If you're current on your mortgage, and didn't borrow more than you could repay, the federal government thanks you for your responsibility. That and four bucks will buy you a cappuccino. Under the express modification program, Fannie Mae, Freddie Mac and some lenders will offer to Read more...

Whether you're a homebuyer, seller or an owner, you probably have one central question about this market: Where are prices headed from here? You can gain some insight into the pricing puzzle by focusing not just on home values, but on rental rates. Housing economists have long used a home price/rent ratio as one way to gauge whether or not home prices are inflated or Read more...

The basketball gods were smiling on Trenton Hassell when the Dallas Mavericks acquired the 6-foot-5-inch swingman from the Minnesota Timberwolves last September. After all, Dallas still had Dirk Nowitzki and much of the nucleus that took them to the 2006 NBA Finals. Meanwhile, the eternally struggling T-Wolves had just dealt their lone superstar, Kevin Garnett, to the Boston Read more...

About a year and a half ago, Tom Runge and his wife, Cathy Woods, put their Auburn, Wash., home up for sale. Woods had taken a new telecommuting-friendly position and the couple planned to move to Portland, Maine, where they could more easily afford some investment property. The situation seemed ideal, but there was just one problem: Their four-bedroom Washington house didn't Read more...

Owners of multiple homes need to mark Jan. 1, 2009, on their calendars. That's the day that the rules change when it comes to how much profit you might be able to keep out of IRS hands when you sell. One of the most cherished parts of the U.S. tax code is the provision that allows sellers to exclude up to $250,000, or $500,000 if they file a joint return, of profit they make when they sell Read more...

A dramatic drop in mortgage rates has motivated some homeowners to wonder if they should refinance. A better question might be: Are they able to refinance? Back when house prices were zooming upward, it was easy to refinance a mortgage. Lending standards were loose: You could borrow 100 percent of the home's value, you didn't have to document your income, and no one cared if you had a few Read more...

The government takeover of Fannie Mae and Freddie Mac is designed to put downward pressure on mortgage rates and to ensure that home loans remain available. Those goals are made crystal clear in the statements made by public officials. The primary mission of the two mortgage giants "now will be to proactively work to increase the availability of mortgage finance," says James Read more...

Dear Real Estate Adviser, I own a home in North Carolina and plan to move to California. What's the best thing to do, rent my home or sell it? If I rent it, what are the things that I need to know and do? And would I need to get someone to manage the rental? -- Faye Dear Faye, The least complicated solution, is seems, would be to sell the place, assuming you'll be able to Read more...

Dear Steve, Sadly, I think I know the answer to this question. My girlfriend and I are splitting. Our home, though purchased when we were together, is in her name only. I did build a large garage there four years ago and she did say I could keep my things in there for a while, but won't agree to a lease. Is there any recourse for me at this point? -- Bill Dear Bill, Table that Read more...

Dear Tax Talk, I currently own a house and I'm paying the mortgage payment. I wanted to buy another house for my retired parents to live in. Both houses are going to be in my wife's and my name. My question is, will I be able to claim the interest deductions on both houses, since my parents are not paying any rent or mortgage payment?--Stanley Dear Stanley, Home mortgage interest Read more...

Whether you're buying a home or refinancing an existing home loan, you'll soon find out that lenders today are a picky and demanding bunch when it comes to loan approvals. Even well-qualified borrowers are expected to jump through some pretty high hoops to qualify for financing. Just as job-hunters may wonder what top employers want to see on a resume, prospective borrowers may be curious Read more...

Aug. 1, 2008 -- Loan standards may have tightened some, but mortgage rates still are historically low, even if up from a year or two ago, according to local lenders. With the decline in home prices this year, "Now is a good time for renters to get up off the couch and look for a home to buy," said James Woolery of Dove Mortgage in Richmond, Kentucky. "In a year or two, after Read more...

Being "upside down" is usually a negative term when applied to financial matters, but multimillionaire Robert Shemin believes that sort of thinking is ... well ... upside down. Shemin, author of "How Come That Idiot's Rich and I'm Not?" feels there are two positions when it comes to wealth: right side up and broke, or upside down and rich. Shemin prefers upside down. Read more...