Home Mortgages and Refinancing

Mortgage rates have been on their way down after the Fed cut the prime rate to near historic lows in an effort to help stabilize the economy. More than 5-million homeowners are facing re-adjustments in their adjustable rate mortgages nationally in 2009 and 2010, and the drop in home borrowing rates will provide the difference for many homeowners between being able to refinance their mortgages. Rates on conventional 30-year mortgages now hover … [Read more...]

Is Now the Right Time to Buy a Condo?

Is it Really Time to Buy a Condo? By Robert Jones Inventories are rising, prices are falling, investors are bailing out, and developers are getting desperate. For someone with a little extra cash, this may look like the perfect time to buy a new-construction condo. After all, you’re getting a brand-new building with slick finishes and great amenities at a fraction of what it would have cost a year or so ago. Seems like a no-brainer, … [Read more...]

HAMP Revamps Underwater Refinancing Program

By Kevin Chiu The U.S. government’s giant lenders, Freddie Mac and Fannie Mae have revamped the Home Affordable Modification Program (HAMP) to make it easier for more underwater homeowners to refinance mortgages. The government sponsored enterprises, under the direction of the Federal Housing Finance Agency detailed the changes Tuesday evening. The program is intended to allow underwater homeowners to refinance at lower interest rates, but … [Read more...]

2011 Delaware Housing Market

Troubled by the banking industry and its former appetite to take excessive risks, Delaware's housing markets are in the midst of one of the nation's toughest real estate crashes even after the federal home buyer tax credit increased home sales for a time. The collapse of the housing market is especially hard hit in the southern half of the state, where foreclosures are climbing amid record mortgage defaults. The scene in southern Delaware … [Read more...]

Worst Housing Forecasts in 2011

For a time government stimulus money combined with lower home prices and historically low mortgage rates to drive home sales and prices in some areas of the country higher, but the so-called second leg in the housing market downturn is underway in many regions of the U.S. Led by fourteen states, the worst 25 forecast housing markets are projected to deflate in average values in 2011 as the nation grows more accustom to a new sort of economy … [Read more...]

2011 California Housing Market

Like suffering through a painful New Year’s hangover, California is slumbering through the fallout of the real estate crash after twin tax credits artificially boosted its housing market only to return to a slowdown. As the world’s sixth largest economy on its own, California isn’t exactly falling into economic ruin, but it isn’t making headway into an economic recovery either. The housing market is still pained by a foreclosure crisis … [Read more...]

Air Conditioning U.S. Tax Credit

Installing new energy efficient air conditioning might be more affordable than you think, especially with the U.S. government offering a tax credit as part of the Troubled Asset and Relief Program (TARP). Many people assume central air involves prohibitive costs, hassle and opt for a less attractive window unit. Others forgo air conditioning altogether, living their summer months with their faces and bodies right up to a fan. But there’s a tax … [Read more...]

Five Tips for New Home Buyers

With the first-time home buyer federal income tax credit of $8,000 this just might be the time to consider buying a home. But before you make that decision you may want to consider 5 tips that could help to determine if it's truly the right time to shop for a home. #1 - Learn about the first-time home buyer federal income tax credit. According to FederalHousingTaxCredit.com, a consumer website those who purchase a home before Dec. 1, 2009 … [Read more...]

Saving Financial Markets Fed’s Priority Not Real Estate

By Mike Colpitts Editor Taking its most aggressive action in years, the Federal Reserve is attempting to save the U.S. economy from falling into an economic depression. The infusion of $200-billion into the money markets is intended to theoretically act to help mortgage lenders, banks and other lenders from failing. The credit crunch has sent financial markets reeling and stock prices to new record lows in many cases. But the Fed’s … [Read more...]

Long Haul Recovery Forecast in U.S. Housing

The U.S. housing market won't return to healthy levels of activity in the majority of the Nation's real estate markets until at least sometime in 2009, perhaps even later, according to the latest analysis of Housing Predictor. The housing market recovery will be a long haul. A series of interest rate cuts are expected by Housing Predictor by the Fed in an attempt to restimulate the housing market, halt falling prices in the majority of the … [Read more...]