Buyers are becoming more and more savvy when home shopping, and many have a specific idea of what they’re interested in before they even set foot inside a home. When a buyer thinks about spending their hard-earned money on a new home, most expect the...
HUD’s 203(k) program is a beneficial program that assists home buyers who are looking to rehabilitate and repair single-family properties. Eligible properties include one- to four-family dwellings that have been built for at least one year. Demolished homes can qualify as well, but must have...
A new 3.8% surtax, or “transfer tax,” that takes effect on January 1, 2013 could impact certain real estate transactions next year. There has been a lot of discussion about this new surtax and how health care could start to impact real estate, but understanding...
The Mortgage Debt Relief Act is something worth familiarizing yourself with in order to better understand your tax liability as it relates to forgiven debt. Right now, the program has been extended until December 31, 2012, but there is talk of extending it further to...
In an effort to establish better relationships between servicers and home owners, Fannie Mae is offering a new program called “Know Your Options Customer Care” for servicers. The customer care training program will benefit servicer call center employees who are on the front lines answering...
A little imagination can go a long way in making smaller living spaces not just habitable but inspirational. Lofts, studios, condominiums and cottage-style single-family homes are excellent options for today’s price-sensitive homebuyers. Since they are traditionally smaller in square footage, challenges like lack of storage, limited...
The Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board recently extended the deadline for free foreclosure reviews until September 30, 2012. Home owners who think they would benefit from a free, independent review are encouraged to submit their requests now. The...
Facebook acquired Instagram earlier this year, and the cutting-edge photo-sharing service has continued to soar in popularity. For real estate agents, the merger offers a new growth opportunity in marketing. With Facebook’s backing, Instagram will only get bigger. And they already are. They recently launched an...
The real estate market is starting to show signs of a recovery, and many people are purchasing vacation homes because of favorable pricing. But many of the vacation homes that people are purchasing are close to their primary residences thanks to the rising costs of...
There’s good news for military home owners who have been permanently moved because of a job. Effective June 1, the rules concerning who is considered owner-occupants changed, and some military families could qualify for the Home Affordable Modification Program (HAMP). The HAMP program helps lower...
