Confusion Surrounding The First Time Homebuyer Tax Credit - 03/27/11 11:41 AM
As the April 15 tax day approaches, there is still some confusion surrounding the First Time Homebuyer Tax Credit.  And while there were thousands of fraudulent claims made by those attempting to cheat the government, a large number of taxpayer legitimately failed to understand how the tax credit worked.  Of course, congress added to the confusion by creating different plans, some of which required repayment, and by creating different levels of qualification.
 
Discussions of additional proposals that were never adopted only added to the confusion; and some tax payers are now struggling to determine the necessary forms and documentation needed … (17 comments)

New Guidelines for the Remediation of Chinese Drywall Only Add to the Confusion - 03/24/11 08:24 AM
 
New Guidelines for the Remediation of Chinese Drywall Only Add to the Confusion
 
Several months ago I posted a BLOG describing how government bureaucrats were avoiding involvement with the issue of tainted drywall; and a couple of agencies have now acknowledged their responsibility to provide guidance.  The Department of Housing and Urban Development (HUD) and the Consumer Product Safety Commission (CPSC) have recently offered proposals and standards, but their new guidelines for the remediation of Chinese drywall only add to the confusion. 
 
Additionally, the National Association of Homebuilders (NAHB) has just released a 77 page document describing … (17 comments)

In Many Cities it’s Cheaper to Buy than Rent - 03/19/11 06:14 PM
 
As home prices continue to decline, in many cities it’s cheaper to buy than rent.  A recent study done by Deutsche Bank shows that for the first time in more than 2 decades, buying a home costs less than renting, especially for those purchasing in large metropolitan areas.  And while it’s unlikely that the news will trigger a surge in homebuying, it confirms one more advantage of owning for those considering a home purchase.
 
Today’s housing market is unlike any we’ve experienced in decades, with many buyers remaining on the sidelines waiting to see if the market would stabilize.  … (38 comments)

Building or Buying A Home Should Be Fun - 03/19/11 09:58 AM
 
When I ran my own homebuilding company—following a couple of unpleasant experiences—I developed a rule that I would only build or remodel for “nice” people.  Building or buying a home should be fun, and it can be if the right choices are made up front.  Having previously spent more than a decade working in the corporate world of residential construction, I came to realize that life is truly too short to add to the frustrations by taking work solely for monetary gain.  And later, after establishing my company, I expanded my rule by adding that my projects should be enjoyable, … (13 comments)

Reverse Mortgages Can Take a Bite out of Your Assets - 03/13/11 10:54 AM

Reverse mortgages, through heavy advertising on TV, have become quite popular in the past few years; but they fail to disclose that reverse mortgages can take a bite out of your assets.  Just as any other type of loan, there are pitfalls and dangers to the uninformed.  That’s why anyone considering a reverse mortgage should thoroughly investigate the product being offered and make certain that they fully understand all the “fine print.”
 
Just this week AARP filed a lawsuit against HUD over reverse mortgage problems that had ultimately placed homeowners at risk of foreclosure.   And an article in the … (7 comments)

Is Now A Good Time To Invest In A Home? - 03/06/11 04:21 PM
 
With the economy continuing its struggle and the housing market lacking stability, is now a good time to invest in a home?  While the past decade saw many reap huge benefits from the sale of their homes, the answer to the question is: a qualified maybe.  Housing in general isn’t a great investment, but the realities of today’s market give us reason to believe that a properly researched purchase, could provide a hedge against inflation over the next few years.  Unless you are purchasing as an investor—not the subject of this post—houses should be purchased for shelter, for pride of … (12 comments)

 

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