home ownership economics: Fire Sale Of Homes in California? Check out the July 2008 California Association of Realtors Report - 08/29/08 12:57 AM
It was reported that the median sold price of California homes during July 2008 was 40.3% below the 2007 levels.
Some people looked for and found bargains and grabbed distressed housing during July 2008. This twisted the CA housing market sold information toward cheaper houses, California Association of Realtors reports.
Median sales prices in CA, which was … (4 comments)
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home ownership economics: CAPITAL GAINS U.S. INCOME TAX LAW CHANGED ON SALE OF HOME ALSO USED PART TIME AS A RENTAL - EFFECTIVE JANUARY 1, 2009 - 08/28/08 12:54 PM
OUR CAPITAL GAINS U.S. INCOME TAX LAW HAS CHANGED REGARDING SALE OF A HOME OR RESIDENTIAL PROPERTY, WHICH WAS ALSO USED PART OF THE TIME AS A RENTAL.
EFFECTIVE JANUARY 1, 2009
U.S. Housing and Economic Recovery Act of 2008. Section 3092 of this Act Sets Forth the New Rules.
This amends … (0 comments)
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home ownership economics: FDIC To Help IndyMac Mortgage Borrowers - 08/23/08 09:53 AM
Yes, that's right. But is this a good thing?
It was reported on August 21, 2008, that loan modification letters will start going out on 4,000 loans near default with 25,000 more to follow.
The Federal Deposit Insurance Corp. , which took over the former Indy-Mac Bank last month, is launching … (6 comments)
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home ownership economics: HOPE FOR HOMEOWNERS within the U.S. FORECLOSURE PREVENTION ACT OF 2008 - 07/31/08 01:37 PM
People ask whether there is HOPE for them from possible home foreclosure in the new law signed by President Bush on July 30, 2008 (U.S. Housing & Foreclosure Prevention Act of 2008).Everyone should be careful about this and get the advice from qualified Realtors and mortgage professionals.We set forth below a copy … (5 comments)
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home ownership economics: Signs of Continued Irresponsible Home Lending in Southern California - 07/29/08 04:29 PM
Here in Southern California we continue have some current signs of irresponsible home lending practices. The Orange County Register, reported on July 27, 2008, in a Marketplace article that one year ago, July 27, 2007, the house at 920 W. Camile St. in Santa Ana was bank-owned and deserted and that "the … (1 comments)
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home ownership economics: U.S. HOUSING AND ECONOMIC RECOVERY ACT of 2008 Passes House and Senate - 07/28/08 12:02 PM
THE REAL THING & NEW LAW.
It's perhaps good news for our economy, business and real estate, that the U.S House and Senate have passed the Housing and Economic Recovery Act of 2008, that President Bush signed it into law.The idea was to stimulate the economy and inspire people to get back … (4 comments)
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home ownership economics: Will Shy Bargain Hunters Make Their Deals About the OC and California Housing During 2008? - 07/20/08 11:24 AM
We have a big sale going on in The OC & California housing these days.
The OC house seller continues to cut the price. We have experienced a $150,000 drop in median selling price for Orange County residences from the June 2007 peak. We went from a record high price of … (4 comments)
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home ownership economics: Is Today's U.S. Housing Bust Unique in Economy History? - 07/18/08 01:25 PM
This U.S. HOUSING BUST began in good economic times. Certain developments have contributed to the current BUST. After the 2000 stock-market problems and the September 11, 2001, terrorist attacks, and amid fears of deflation, the Federal Reserve drove short-term interest rates to historic lows. The nation's financial system was flooded with … (2 comments)
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home ownership economics: Get Over the 'NIMBY" Attitude When It Comes to Our Need For More Fuel and Energy - 06/25/08 12:44 AM
A primary challenge for us in business here in California and the US is high gas and fuel prices.HERE IS AN IDEA TO IMPROVE THINGS FOR BUSINESS AND REAL ESTATE.Jonathan Lanser at the Orange County Register says that people need to temper their "NIMBY" (not in my back yard) attitudes. We … (2 comments)
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home ownership economics: It's Good For Real Estate that FHA Suspended its 90-day Rule Against Flipping - 06/19/08 10:03 AM
Foreclosed and abandoned homes harm neighborhoods and delay a community's recovery.WE'RE LOOKING FOR SOMETHING GOOD TO HAPPEN IN REAL ESTATE.
In order to help facilities sale of bank-owned properties, the Federal Housing Administration (FHA) has temporarily suspended its 90-day rule against flipping of properties. Under that anti-flipping rule, the FHA does not … (1 comments)
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home ownership economics: Let's Increase Drilling and the Supply of US Domestic Oil and Get Price at the Pump Down - 06/16/08 11:20 PM
All Business people (including Realtors and brokers) must recognize that we have a serious problem in the US with the price of oil and gas at the pump.The Democrats in US Congress are keeping us from exploring and drilling for domestic oil. And they are helping to limit our domestic supply.The … (9 comments)
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home ownership economics: U.S. Congress Should Work To Improve Our Domestic Oil Supply & Get Decreased Prices at the Gas Pump - 06/12/08 07:13 PM
THE GASOLINE PRICE AT THE PUMP CRUNCH is rough for all of us.
Supply has not kept pace with demand, and so prices rise. Many of steps taken in the U.S. for reduction of demand are being negated by increased demands for oil in foreign countries including India and China. The … (1 comments)
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home ownership economics: McCain & Obama as U.S. Presidential Candidates Different Positions on Housing and the Economy - 06/10/08 07:01 PM
John McCain and Barak Obama, the two U.S. Presidential candidates for election 2008 have different approaches to housing and economic issues.
Senator John McCain:
1. Proposes to spend up to $10 billion to allow some home owners to trade high-interest, adjustable-rate mortgages for fixed-rate loans.That sounds good. 2. Proposes a suspension … (11 comments)
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home ownership economics: California Sales Tax Should Not Be Expanded to Include That For Services - 06/10/08 09:58 AM
The State of California and legislature and Board of Equalization is considering sales tax expansion to include that on services, such as fees for real estate agents, physicians, dentists, lawyers, accountants, architects, gardeners, landscapers, babysitters, and so many others.There is an obscure rule of the Board of Equalization, the state's tax collecting … (0 comments)
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home ownership economics: Challenges for Real Estate Investors In This Declining Home Value Market - 06/06/08 09:50 AM
Some losers in this residential real estate declining market are buyers of second homes, investors who are now involved with income tax debt challenge. Some of these people will lose their properties through short sale or foreclosure and make it to bankruptcy under the weight of a income tax bill. While … (5 comments)
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home ownership economics: An Old Fashioned Way of Determining Value of a Home - 06/02/08 01:42 AM
Value of housing has many variants. The value of a certain home is determined by lots of factors specific to that property. It's difficult to asign economic value to each of these factors. This is especially true when buyers and sellers do not not have complete information about each factor. Some … (6 comments)
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