Archive for February, 2008

1031 Exchange on Vacation Homes

Friday, February 29th, 2008

Thought this article may be helpful to people with vacation homes. Finally — IRS Guidance on Exchanging Vacation Homes Revenue Procedure 2008-16 Provides Safe Harbor   Until now, the issue of whether a vacation home qualifies for tax deferral treatment under IRC §1031 was the subject of much scrutiny and uncertainty. To the ...

Fed Cuts May Not Mean Lower Interest Rates

Friday, February 29th, 2008

Heres an article I found that clarifies why this may be true.  The Federal Reserve has been on a rate cutting spree once more. Many mortgage applicants are calling their mortgage representative and expecting a lower interest rate. Others who have been waiting to refinance are puzzled as to why mortgage rates ...

Discount Points…

Thursday, February 28th, 2008

Should someone pay points to get a lower interest rate or not. This is a very common question that a customer asks. Some clients like to pay points and some would rather not. When you pay "points", you pay interest in a lum sum upfront to get a lower rate ...

FICO HOT TOPICS

Thursday, February 28th, 2008

Log in to myFICO FICO Forums Hot Topics FICO Forums is an educational and oftentimes entertaining platform for people to share their credit knowledge and personal financial experiences with other members of this online community. Hot topics for February 2008: Bankruptcy or Debt Settlement Program??? Please Help To make a long story ...

America’s free-falling housing markets

Wednesday, February 27th, 2008

        Homeowners in the hardest-hit cities hope for some relief from the Bush administration's recent foreclosure initiative -- but they'll still have to cope with dramatically declining home-sale prices.     Residents of Sacramento, Calif., where home sale prices for November 2007 fell a startling 18.6% from the year before, are likely breathing a ...

Buyers: Should you wait for the market bottom?

Wednesday, February 27th, 2008

        The housing market will continue its downward spiral, forecasts say, and that means opportunities for buyers. But waiting for the market bottom may not be the smartest strategy. Here are 5 reasons to buy now -- and 5 reasons you may want to wait. By Melinda Fulmer, MSN Real Estate     The latest ...

The simplicity behind the jargon

Friday, February 22nd, 2008

This is a small tangent from real estate, but I thought it would be useful for those of us that are still wrapping our mind around internet trends like Blogs, Wikis and RSS. I came across several short video clips on YouTube produced by CommonCraft – Explanations in Plain ...

How To Avoid Predatory Lending

Tuesday, February 19th, 2008

Protect Yourself from Predatory LendersBuying or refinancing your home may be one of the most important and complex ...

Just Walk Away

Tuesday, February 19th, 2008

A growing trend in today’s market are homeowners that choose to walk away from their mortgage payment, not because they can’t afford the home, but more so because of loss of equity. This is even more of a reality for those that ended up borrowing 100% for the purchase. Some ...

Fee Simple vs Leasehold

Monday, February 18th, 2008

Most people only know of one type of real estate ownership; fee simple, also known as freehold. There are a handful of states that have another form of ownership known as leasehold. The difference in these two types of land tenure is very different and affects the value of the ...