Archive for Tips
Mortgage Interest Deduction – Response from NAR Economist
NATIONAL ASSOCIATION OF REALTORS®’ Chief Economist, Lawrence Yun sent the following response to the editor of The Washington Post in response to the January 1, 2011 article, “Trim the Excessive Tax Subsidy for Real Estate.” January 2, 2011 It’s a common misperception that the mortgage interest deduction benefits primarily the wealthy, as argued in the Washington [...]
2011 Housing Predictions
Predictions for Housing in 2011Will housing values increase in 2011? Fortune.com offers both a bullish and a bearish prediction.The bulls say: Affordability is at its highest level. Billionaire Warren Buffet is among those who believe this is a sign the slump is about to end. Buffet writes: “Prices will remain far below ‘bubble’ levels, of course, but [...]
Buying a home in 2011?
5 Reasons to Buy a Home in 2011 Michele Lerner, author of Homebuying: Tough Times, First Time, Any Time, offers reasons why real estate is likely to improve in 2011. Here are five reasons she thinks consumers should consider a home purchase next year:▪ Mortgage rates will stay low. Even with rates climbing — maybe to as [...]
Where is this market going? Should I hold out for lower prices before I buy?
What does 2011 look like to you? What do you hope the 2011 Real Estate Market will bring? Will rates rise? Is there “shadow inventory” lurking about? What about home prices? There are 3 critical factors that will determine how the housing market will look in 2011. Unemployment rate House prices Interest rates Cherry Creek Mortgage [...]
Mortgage Rates Jump to 6-Month High
Mortgage rates rose for a fourth-straight week to reach a six-month high as yields on government bonds continue to rise. The average interest on a 30-year fixed loan hit 4.61 percent, up from 4.46 percent a week ago, Freddie Mac reported. Also, 15-year fixed loans averaged 3.96 percent, up from 3.81 percent last week; and rates [...]
Existing National home sales decline in October
Existing-home sales retreated in October on the heels of two strong monthly gains, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, declined 2.2 percent to a seasonally adjusted annual rate of 4.43 million in October from 4.53 million in September, and are 25.9 percent [...]
Mortgage Purchase Applications Hit 6-Month High
Mortgage applications to purchase homes increased 14.4 percent last week on an adjusted basis compared to the previous week, according to the Mortgage Bankers Association weekly survey.The unadjusted Purchase Index increased 9.6 percent compared with the previous week and was down 7.4 percent compared to the same week a year ago.On a seasonally adjusted basis, [...]
Rates on the Rise
Mortgage Rates Back on the Rise Rates for 30-year fixed mortgages rose to 4.39 percent this week from 4.17 percent a week ago, and average interest on 15-year loans moved to 3.76 percent from 3.57 percent, said Freddie Mac. Interest for five-year adjustable-rate mortgages jumped to 3.4 percent from 3.25 percent, meanwhile, and one-year ARMs held at [...]
Look out investors! Rental income tax coming up!
Starting January 1st, 2013 investors may be surprised to find out that they are now on the hook for a 3.8% tax on “unearned income”, meaning income derived from the investment of your capital…such as rental income. Now this is only for “high income” individuals and may also face a .09% tax on earned income. [...]
7 Trends That Will Drive the Future of Housing
Credits for this information go to realtor.org, source at bottom.7 Trends That Will Drive the Future of Housing Hanley-Wood’s ProSalesOnline.com identifies seven trends that the magazine’s editors believe will have the biggest impact on housing in 2011.1. Big builders are wringing the extras out of construction costs and dropping the national average cost-to-build 36 percent to $52 per [...]
