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RECENT BLOG POSTS
When viewing a potential home, how much consideration should you give to the surrounding land?In many ways, the land should be carefully regarded, since land is the thing that is hardest to alter. You can rip up carpet, paint walls and even knock down walls, but it takes a lot more effort to chan...
08/13/2019
Last week's economic releases included readings on consumer credit, job openings and weekly reports on mortgage rates and first-time jobless claims.  Consumer Credit Use, Job Openings Slow in JuneConsumer credit use slowed in June as credit card use lost ground. Non-revolving credit, which typica...
08/12/2019
The Federal Open Market Committee of the Federal Reserve announced the first rate cut to its key interest rate range since the Great Recession ushered in a series of rate cuts described as "quantitative easing." The Fed committee confirmed a quarter-point cut to 2.00 to 2.25 percent.Fed Chair Jer...
08/07/2019
Last week's economic news included readings from Case-Shiller on home prices, pending home sales, construction spending and a post-meeting statement from the Federal Open Market Committee of the Federal Reserve.Consumer sentiment was released along with Commerce Department reports on public and p...
08/05/2019
Home price growth slowed again in May according to Case-Shiller home price indices. Home price growth slowed for the 14th consecutive month to its lowest rate in 12 years. Case-Shiller's National Home Price Index showed 3.40 percent growth year-over-year in May as compared to April's year-over-ye...
08/01/2019
Eminent domain is a law that gives the federal, state, county, and municipal governments in the United States the legal right to "condemn" property and then seize it to allow its use for development. Eminent domain is supposed to be used by the government at the various levels to do things for th...
07/31/2019
The federal government adopted the Housing and Community Development Act in 1977, and the Community Reinvestment Act (CRA) portion was designed to prompt lending institutions to provide mortgages for low- and moderate-income Americans. The underlying reasoning for the CRA was to discourage discri...
07/31/2019
Last week's economic reports included readings on sales of new and pre-owned homes and weekly reports on mortgage rates and first-time jobless claims. Realtors® Report Sales of Pre-Owned Homes Fall in June Sales of previously-owned homes fell last month according to real estate pros. 5.27 million...
07/29/2019
Have you ever played the classic board game called Monopoly? The object of the game is to collect all the properties until one winner bankrupts all the other players. The other part of the game is that accumulating properties adjacent to each other increases the value of the individual properties...
07/25/2019
A 1031 tax exchange is a legal way to defer paying capital gains when selling a property and then buying a "like-kind" property within the allowed period. The time limits allowed are 45 calendar days after the close of the sale of the first property to identify the like-kind property for acquisit...
07/24/2019
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Bob Elliot

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