Why Celebrities Like Michael Jackson and Angelina Jolie Rent Houses Instead of Buying Homes
Why do celebrities like Michael Jackson and Angelina Jolie rent houses instead of buying homes? In some cases, they sometimes rent even while they own one or more houses around the world. For the most part, we tie big-name celebrities like Michael Jackson and Elvis Presley to the estates they owned…
Is The American Dream Of Homeownership Changing?
According to a recent survey from the National Foundation for Credit Counseling, the traditional American Dream of owning your own home may be changing. According to the survey, almost half of Americans don't think owning a home is a good way to build wealth and almost one-third don't think they…
Signs To Watch Out For When The Housing Market Is Recovering
Ilyce says there are four ways to know when the housing market is recovering:
1. The proportion of home buyers and sellers evens out;
2. Home prices stop falling;
3. Home price start rising;
4. Home buying activity increases.
Are you seeing changes in your local real estate market? What would be a…
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…
Existing Home Sales Rise 2.9 Percent From March
It's funny. This morning I went to check the Web site of the National Association of Realtors for the latest numbers for existing home sales and they hadn't been posted yet. Then after I finished the other two blogs just now, it magically appeared. Anyway...
Existing home sales increased 2.9 percent…
More Mortgage Applications Processed As Rates Rise Slightly
Mortgage interest rates rose slightly last week for 30-year fixed rate mortgages and one year adjustable rate mortgages, announced the Mortgage Bankers Association today. But they're still relatively low.
Yesterday I blogged how falling home values makes buying a home more affordable for first time…
Home Prices Decline 19 Percent In First Quarter 2009
I remember sitting in an economics reporting seminar in grad school three years ago and many of us lamenting that we would not be able to buy homes, not with having to repay student loan debt too. Ever since the bursting of the housing bubble I'm feeling more hopeful. And today's S&P Case…
Georgia Joins The Ranks of States Offering Homebuyer Tax Credits
Fourteen states are now offering tax credits for homebuyers or first-time homebuyers. Georgia is the latest state to offer a homebuyer tax credit. It is available to anyone, regardless if you have owned a home before.
$8,000 Tax Credit-Downpayment Relief: Treasury Department Giveth and Taketh Away
Last week, the Treasury Dept. announced a new plan to allow first time buyers (and those who haven't owned a home in the past 3 years) the opportunity to use the $8,000 tax credit as a down payment for the purchase of the property. The way this would be handled would be with a bridge loan until the…
State Home Buying Incentives You Can Bank On
By now you should have heard about the $8,000 federal tax credit for first time home buyers, including those who haven't owned a home in the last three years.
Many states now offer state-level programs as well. Here's some information on them:
California - New-Home Buyer Tax Credit $10,000 or 5…
71 Percent Of Americans Say Now Is Time To Buy According To Gallup Poll
A majority of Americans, 71 percent, say now is a good time to buy a house, according to an April Gallup poll.
This is up 18 percentage points from a year ago and the highest level of housing-purchase optimism in four years.
However, sluggish home sales across the country mean that Americans aren't…
Pending Home Sales Rise in March
Pending home sales rose 3.2 percent in March, the National Association of REALTORS announced today. NAR's Pending Home Sales Index tracks home sale contracts that buyers sign.
Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. “This increase could be…
Don't Miss First Time Home Buyer Tax Credit
First-time home buyers, pay attention! If you buy a new home in 2009, and close on or before December 1, 2009, you may qualify for an $8,000 tax credit.
The National Association of Home Builders has created a number of resources to help Americans understand current conditions in the housing market…
Homes Become More Affordable - But Will People Buy?
More Americans can afford to buy a $200,000 home, at least on paper.
The National Association of Home Builders announced today that 55 million families can afford a $200,000 home when you take into account their incomes, home prices and mortgage interest rates. That's up from about 38 million…
Home Sales Increase In February, NAR Says
Existing home sales rose by 5.1 percent in February as compared with January, announced the National Association of Realtors this morning.
But they fell 4.6 percent from February 2008.
The median home price fell to $165,400, down from $195,800 a year earlier. NAR's chief economist, Lawrence Yun…
Sub-prime Mortgage Loans Did Not Meet Goals
Sub-prime mortgages issued between 2001 and 2006 did not achieve the goal of increased home ownership, a recently released study finds.
The number of sub-prime mortgages terminated between 2001 and 2006 was higher than the number of first time home buyers who applied for them during that time frame…
First Time Home Buyer Tax Credit For 2008 And 2009
If you bought a home in 2008 or plan to buy one in 2009, before December 1, you'll be able to benefit from a federal income tax credit of up to $8,000. If you're married, filing separately, you can claim up to $4,000.
The Treasury Department and the Internal Revenue Service announced the tax credit…
What's Up With The $7,500 Tax Credit?
From: Linda: You were talking on WSB this passed Sunday morning about a $7,500 tax break for buying a house I did not catch the full story. Where could I find that information? Thanks.
From Ilyce: At the moment, what's available is a $7500 tax credit -- a dollar for dollar reduction in the total…
NAR Says Home Buyer Tax Credit Could Help Reduce Housing Inventory
According to the National Association of Realtors, if all home buyers become eligible for a tax credit without a repayment feature, it could result in an additional 555,000 home sales, which would be enough to significantly reduce excess housing inventory.
Lawrence Yun, NAR chief economist, said NAR…
Here's the video from my appearance on yesterday's Today Show:
Breaking News, World News, and News about the Economy
Dec. 28, 2008
A recent survey commissioned by AARP found that 79 percent of baby boomers want to stay in the home they are currently living in.
Less than 10 percent say they think they won't be able to stay in their home.
Still 26 percent say they expect to move, likely to a single-level home for comfort or…
Sales of Existing Homes Increase
The number of existing homes that sold during the month of September rose 5.5 percent, according to the National Association of Realtors. The pace was higher than during the same month last year. NAR attributes the rise in sales to buyers responding to homes becoming more affordable. Lawrence Yun…
In my best-selling book, 100 Questions Every First-Time Home Buyer Should Ask, I include a list of 10 mistake home buyers often make. I should probably revise those 10 mistakes to include some new ones that have come up in the current housing recession/credit crisis.
In the meantime, here are some of…
Is This What The Bottom of the Real Estate Market Looks Like?
Folks, I'm going to go out on a limb and say that when we look back next year, we're going to see that September 2008 is at the bottom or is part of the bottom of the real estate market collapse.
Why? We had a call on the Ilyce Glink Show this morning from Carmen, a 30-year real estate agent in…
Title insurance is a key part of buying a home. Learn more about title insurance from these ThinkGlink.com stories.
Why do I need to buy title insurance? http://www.thinkglink.com/Title_Insurance_Question.htm
Different types of title insurance www.thinkglink.com/Title_Insurance_Policy.htm
What is a…
