Short Sales – What you Need to Know
June 30th, 2010 § 1
Gov. signs new homebuyer tax credit
March 25th, 2010 § 0
posted by Jeff Collins
Gov. Arnold Schwarzenegger has signed a new bill providing up to $10,000 in tax credits for both new-home buyers and for first-time buyers of existing homes.
An earlier round of state tax credits offered last year were for new-home purchases only. That program was so popular that homebuyers depleted the full $100 million eight months before the deadline. » Read the rest of this entry «
Governor Expected to Sign Homebuyer Tax Credit
March 24th, 2010 § 1
On Monday, the legislature passed AB 183 (Caballero & Ashburn) which would provide $200 million for homebuyer tax credits. The Governor is expected to sign AB 183 into law before the end of the week. C.A.R. supported this important legislation. » Read the rest of this entry «
Foreclosure Bargains Getting Harder to Find
February 26th, 2010 § 0
Daily Real Estate News | February 23, 2010
Foreclosure Bargains Getting Harder to Find
Home buyers hoping to snag a really good deal on a foreclosed home are finding it increasingly difficult because supply is shrinking.
The number of foreclosures that are available for sale nationwide fell to 617,000 in December, down from 845,000 in November 2008, reports Barclays Capital.
» Read the rest of this entry «
Top 10 Cities with Climbing Home Prices
February 26th, 2010 § 0
Daily Real Estate News | February 25, 2010
Top 10 Cities with Climbing Home Prices
Home prices aren’t tanking everywhere. In some cities they have bounced pretty high off the bottom, according to a report in Forbes magazine.
Altos Research examined data for every U.S. city with at least 100 homes on the market – about 8,000 cities. It identified these 10 cities as having the biggest price increases from the previous year.
» Read the rest of this entry «
Should Buyers Try to Beat the Tax Credit?
February 26th, 2010 § 0
Daily Real Estate News | February 26, 2010
Should Buyers Try to Beat the Tax Credit?
Some potential home buyers say they’re holding out until the tax credits expire on the theory that prices will decline once the buying incentive is gone.
One person who commented on the dilemma on Zillow.com wrote: “I’ve seen prices in my neighborhood jump up over $30k since the credit started.”
» Read the rest of this entry «
IRS Clarifies What’s Needed to Claim Tax Credit
February 26th, 2010 § 0
Daily Real Estate News | February 22, 2010
IRS Clarifies What’s Needed to Claim Tax Credit
The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit.
While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties’ signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn’t common.
» Read the rest of this entry «
Tax Credit Ignites Early Spring Selling Season
January 24th, 2010 § 0
Daily Real Estate News | January 21, 2010
Tax Credit Ignites Early Spring Selling Season
The homebuying season is starting early this year, thanks to the expanded first-time and move-up homebuyer tax credit.
Typically, the busiest time for home shopping starts in March and continues through May, but this year buyers who want to take advantage of the tax credits have to hold a signed contract by April 30 and close the deal by June 30. » Read the rest of this entry «
FHA Toughens Down Payment Rules
January 24th, 2010 § 0
Daily Real Estate News | January 20, 2010
FHA Toughens Down Payment Rules
The Federal Housing Administration will raise the minimum down payment for its least credit-worthy borrowers, the agency announced Tuesday. » Read the rest of this entry «
30-Year Mortgage Rates Slide Below 5%
January 24th, 2010 § 0
Daily Real Estate News | January 22, 2010
30-Year Mortgage Rates Slide Below 5%
Long-term mortgage rates fell for the third straight week, pushing the average rate on 30-year fixed home loans below 5 percent again, according to Freddie Mac. » Read the rest of this entry «