A Real Estate Blog
LA Perfect!
It’s hard to find any good in an article that speaks of a recession like we are experiencing. But when it alludes to a possible ease in that recession, it still lightens the air we breathe just a bit.
The comments that follow give individual perspectives, throwing in that, “What to believe” wrench.
Regardless, the best way to understand what is going on in your area is to ask a local real estate professional…and I just happen to know one.
photo courtesy of Housing Watch
Interesting read….but as pointed out in the article, take it with a grain of salt.
Rules for IRS Credit
So you’ve lived in your home as your principal residence for the past 5 consecutive years during the previous 8 years…blah, blah, blah. Now you intend to purchase another home as your principal residence and take advantage of the new $6,500 credit.
This article written by Kenneth Harney of the Washington Post provides the official IRS guidance you need to know.
If you’re still on the fence about whether or not it’s the right time to buy, and that tax credit the Government is offering fails to nudge you, perhaps this article will.
As Marc Roth from Business Week reveals, what you pay in your interest rate the minute it starts to rise again may just be your, “Ah ha!” Moment.
As for being “stupid” if you don’t buy, well…….just remember I didn’t write the article. So don’t shoot the messenger.
There are already so many things to think about when deciding to buy a home. You want to be sure that all your bases are covered, and that those working for you are working in your best interest.
No doubt the loan process can seem daunting, but things just got a little easier with new rules requiring lenders to, “Spell it Out.” And this article by Kathy Kristoff from the LA Times gives you the insight you need to be informed.
And if you really feel ambitious, the Department of Housing and Urban Development has published 52 pages of frequently asked questions on its website, trying to clarify the rules for brokers.
Scott Grannis provides us with an interesting take on the supposed slew of foreclosures hitting our streets soon.
Will it help keep prices stable? Or will it add to the looming real estate slump?
Are you ready?
Home Sales are UP. Prices are Down.
You may have heard it from your friends, read it in the papers, or heard it on the news….existing homes sales are up! And just as recently as today by 10%.
Bloomberg.com has their say and it’s probably similar to all the tid-bits you’re getting.
Another blog that I have been following, the Calafia Beach Pundit, has a recent post that takes into appreciation the idea that it simply comes down to affordability. I have long said that buyer’s today are looking for value, and once perceived, they jump. So doesn’t it make sense that along with the tax credit extension, and the credit offered to the step-up crowd all help fuel sales? Of course it does. And with the volatility of the stock market still fueling a lack of confidence, we will most likely continue to see falling home prices well in to the first quarter next year which should help keep the sales up….and the inventory down.