Real Estate Update - Ilyce Glink and Jill Schlesinger of MoneyWatch.com Discuss The Housing Crisis
I spent some time shooting video and recording a podcast with CBS Editor At Large Jill Schlesinger. We talked about the housing and credit crisis, real estate and what's coming next.
Under the rules for joint tenancy with rights of survivorship, you should be able to receive the property that you already co-own and continue paying on the mortgage if the other co-owner passes away. The due on sale clause in most mortgages should not be triggered if the property passes to your…
Home Selling Tips - Staging Your Home For Sale
Staging your home for sale is one of the top things you can do to sell your home faster and for more money. You want your house to appear open and inviting, and you don't want your personal items distracting the buyer from the features of your house. Stage your home for sale by decluttering your…
Estate Planning Can Help Avoid Capital Gains Tax
Proper estate planning will help you avoid paying long-term capital gains tax when you sell inherited property. If your relatives plan with an attorney or tax advisor for how they would like their assets to be distributed, you can avoid paying unnecessary taxes on your inheritance and assets.
Home Selling Tips: New Year's Resolutions For Home Sellers
Home sellers had it rough in 2009, and 2010 promises to be another hard year for home sellers. However, there are some home selling tips you can take to put yourself in a better home selling situation. Make it a New Year's Resolution to become a better seller and follow these home selling tips to…
Real Living, GMAC Merger Hopes to Provide Even Higher Level of Customer Service
Real Living and GMAC Real Estate hope to provide an even higher level of customer service. The real estate companies have announced a merger with plans to target a female audience and for an emphasis on customer service. Real Living and GMAC will rebrand under the Real Living name, with offices…
ThinkGlink Radio Show for Aug 19, 2009
The future of the housing market doesn't look too grim, according to RE/MAX CEO Dave Liniger. He sat down with Ilyce Glink after a press conference to answer a few questions on his experience with RE/MAX, what he thinks will happen with the recession, his thoughts on foreclosures and the $8,000…
Seller and Buyer Closing Costs State By State
Seller and buyer closing costs are usually a mystery, and we frequently receive emails asking us to give sellers more information on who generally gets to pay for survey and title insurance expenses. So, we prepared a list of two of the most popular closing costs paid by sellers and buyers on a…
Title Insurance Problems Arise When A Title Company Fails to Disclose An Association
What is the purpose of a title company? To avoid title insurance problems and issues. A title company's responsibility is to search the public records and inform the prospective homeowner about any issues and problems that affect the title of a property they intend on buying.
Six Reasons Why Your House Won't Sell
The housing market is still slow, but some homeowners are selling their houses. You may ask "why my house won't sell?" If you're a buyer who is having trouble selling your house, there may be a reason why you can't sell, but your neighbor down the street just sold their house. Make sure your house…
Lawsuit May Be Only Way Out Of Real Estate Ownership Dispute With Family Member
Buying or owning real estate with family can be tricky. What can you do if when one family member stops contributing and won't agree to sell. If the co-owner won't ultimately agree to be removed from the title to a home on whose mortgage he's made no payments, it may be necessary to file a partition…
Unpaid Real Estate Property Taxes: Redeeming The Tax Sale
If you don't pay the real estate taxes on your home, you could lose it to a tax purchaser. That tax purchaser can buy your home at a tax sale. You'll have a short period of time in which to redeem the property sold at the tax sale, but not long. Unpaid real estate property taxes is one reason why…
The More Things Change, The More Things Stay the Same, Location, Location, Location
In the new world of real estate there are many changes to keep track of, but there are also some key parts to the home buying process that haven’t changed. Real estate agents are still a good deal for home buyers. You’ll get the best home loan rates and save money if you shop around. Home repair and…
How Does A Reverse Mortgage Work And What Are The Pitfalls?
How does a reverse mortgage work? A homeowner can take out a loan based on the equity in their home, and the loan becomes due when the home is sold. Usually FHA’s home equity conversion mortgage (HECM) program is loaded with insurance to prevent any loss in case the value of the home drops. However…
Federal Housing Finance Agency (FHFA) Boss James Lockhart on Fixing the Housing Market
At the recent meeting of the National Association of Real Estate Editors in Washington, D.C., James Lockhart, director of the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, discussed how the housing market had changed from 2007 to 2009…
When Will U.S. Commercial Real Estate Property Markets Recover? Try 2017
Commercial real estate properties are in a tough spot in this recession. Commercial real estate rents are down by nearly 50 percent, which means that the underlying value of commercial real estate could fall 50 percent from the high point in 2007. Will the federal government back commercial real…
Questions for HUD Secretary Shaun Donovan
Shaun Donovan, Secretary of the Department of Housing and Urban Development (HUD), spoke to a members of the National Association of Real Estate Editors yesterday afternoon in Washington, D.C. After he made his prepared remarks, Donovan took questions from the media on the topics of foreclosures…
Some Local Real Estate Markets Showing Improvement
I had some interesting responses to a blog I wrote wondering, "Where Are All The Fantastic Real Estate Deals?"
Jessica said, "No great deals out here in CO either. Prices have remained steady except for a few foreclosures that go directly to investors with cash."
Mike said that the market is tough for…
Senator Proposes $15,000 Tax Credit For All Home Buyers
What would it take to motivate you to buy a house? U.S. Senator Johnny Isakson, R-Ga., thinks you need the push of $15,000.
Yesterday Sen. Isakson introduced legislation that would expand the first-time home buyer tax credit to all home buyers, and it would increase the maximum credit to $15,000.
I…
Proposed Legislation Would Expand Home Buyer Tax Credit
US Senator Johnny Isakson, R-Ga., introduced legislation that would expand the first-time home buyer tax credit to include all home buyers, and increase the credit the $15,000. The legislation proposed by Isakson to increase the home buyer tax credit also removes income limits and closing deadlines…
California, Nevada, Florida Rank Top 3 For May Foreclosures
RealtyTrac released today the May 2009 foreclosure numbers. Nevada tops the ratings with 1 in every 64 housing units receiving a foreclosure filing, more than six times the national average. California was second with 1 in every 144, and Florida third with 1 in every 148 housing units receiving a…
May Foreclosure Activity Up 18 percent From Last Year
RealtyTrac, the leading online marketplace for foreclosure properties released its May 2009 U.S. Foreclosure Market Report, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 321,480 U.S. properties during the month, a decrease of 6…
Where Are All The Fantastic Real Estate Deals?
All this commotion in the news lately about the $8,000 tax credit and foreclosures and great deals and falling prices has put the idea in my head that it might be time for me to become a homeowner.
Under normal circumstances, my finances would tell me to steer clear of a mortgage. But I figured that…
Is Your Mortgage Broker Allowed To Originate An FHA Loan?
Can a mortgage broker originate an FHA loan if he or she also has a real estate license? The FHA prohibits brokers who are "actively selling" real estate from getting FHA loans. However, the eligibility requirements for FHA lenders don't address real estate licenses. If you're a mortgage lender, but…
Foreclosures Increase 24 Percent In First Quarter 2009
In the first quarter, the number of foreclosures increased 24 percent from a year earlier, reported RealtyTrac today. One in every 159 homes received a foreclosure notice in the first quarter. RealtyTrac includes bank repossessions, default notices and auction sale notices in the foreclosures it…
