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Real Estate and Home

Scarlett Johansson’s Home For Sale at $2 Million Loss

by Flexo

The market for Hollywood Hills homes of the stars hasn’t been immune to the real estate downturn. Although she purchased the house for $7 million in 2007, the asking price is now $4.59 million. Judging from the photographs on CNN Money, the villa looks like a great place to live. CNN Money often profiles houses ... Continue reading this article…

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Pontiac Silverdome Sold for Less Than a House

by Flexo

A year ago, a group of investors offered $20 million to buy the Pontiac Silverdome, the seldom-used, dome stadium that used to be the home for the Detroit Pistons and Michigan Panthers. The deal eventually fell through. In a sign of the state of the commercial real estate market, the winning bid for the Silverdome ... Continue reading this article…

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President Obama and Congress Extend the $8,000 Home Buyers’ Credit

by Flexo

It’s official. Today President Obama will sign a bill into law that extends the $8,000 First Time Home Buyers’ Tax Credit, recently set to expire on November 30, until April 30 next year. The tax credit, originally part of the American Recovery and Reinvestment Act of 2009 was intended to stimulate the real estate industry, ... Continue reading this article…

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Congress Plans to Extend the First-Time Home Buyers’ Tax Credit

by Flexo

The $8,000 tax credit for first-time home buyers is set to expire at the end of November, but lawmakers don’t want this benefit to end. While there have been some positive signs in the real estate market, the current credit hasn’t done much to stimulate house prices or the economy overall. All year, some senators ... Continue reading this article…

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Is Buying a Foreclosed Property Realistic?

by Jeff

My wife and I enjoy our apartment, but we’re preparing for the day when we can make the jump to a house. We could use the extra space, and we’re ready to get away from some of the ticky-tack regulations and rules that landlords love to use. Financially, however, our preparation is lacking. It isn’t ... Continue reading this article…

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One-Third of Home Loans are Under Water

by Flexo

A few years ago, a coworker formed an investment partnership in speculative real estate. He promised investors a 10 percent annual return and was using the capital to invest in Florida real estate, earning 15 to 20 percent overall. As most of the real estate had not even been inhabited or built yet, the investments ... Continue reading this article…

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House Sales Improved in June, But is the Housing Crisis Over?

by Flexo

“Now is a great time to buy.” That has been the advertising mantra of the National Association of Realtors regardless of the state of the housing market. The NAR certainly has a purpose; its mission and vision is clearly displayed on the organization’s website: “The core purpose of the NATIONAL ASSOCIATION OF REALTORS® is to ... Continue reading this article…

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The Watergate Hotel is in Foreclosure

by Flexo

The real estate recession doesn’t discriminate. While foreclosures have soared to one out of 84 households over the course of the first six months of 2009 and the Obama administration is considering more aid to help families in this situation, the threat is also affecting famous properties. The owner of the famous Watergate Hotel in ... Continue reading this article…

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Extending the $8,000 First-Time Home Buyer Credit to $15,000

by Flexo

Update: The first-time home buyer tax credit has been extended and expanded. Click here for the latest details. The information below is now out-dated. The Senate is considering a number of changes to the $8,000 first-time home buyers credit. Spurred on by Sen. Johnny Isakson from Georgia, the adjustments being considered seek to expand the ... Continue reading this article…

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Your House Is Not a Good Investment

by Flexo

The latest data show again that you shouldn’t expect to make more money from buying and selling the house you live in than you would from investing in stocks. In fact, you could do better with government-issued inflation-protected bonds. This isn’t just a result of the recent decline in home prices, 19 percent over the past ... Continue reading this article…

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HUD Wants to Let First Time Home Buyers Use $8,000 Credit for Downpayment

by Flexo

In February, Congress passed the American Recovery and Reinvestment Bill of 2009, otherwise known as this year’s stimulus bill. One small part of this bill allows first time home buyers (anyone who hasn’t owned a home in the past three years) to qualify for a $8,000 tax credit. For individuals or families hoping for some ... Continue reading this article…

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Do I Qualify for a Loan Modification?

by Smithee

(Or… What on Earth is an Affidavit of Financial Hardship?) Today the U.S. Treasury announced the details of their “Making Home Affordable” Loan Modifications. This link to the financialstability.gov Web page about the plan should help you answer whether you are eligible to receive help with your “underwater” mortgage. Here’s a good summary from a ... Continue reading this article…

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Should You Walk Away From a House and Mortgage?

by Flexo

In the real estate boom, many homebuyers extended themselves financially to buy a house that may have been beyond their means. With the exuberant market, people were encouraged to buy with low introductory interest rates and interest-only loans, the belief that their income would increase to meet their payments, predictions that real estate prices would ... Continue reading this article…

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Obama Sends $75 Billion to Homeowners in Foreclosure

by Flexo

If real estate is truly the root of the economic recession, then this new proposal from President Obama should help. The plan calls for $75 billion to help 9 million homeowners who can no longer afford their monthly mortgage payments and are at risk for foreclosure. Here is how this plan would help. If you ... Continue reading this article…

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Is Your Home an Asset or Liability?

by Flexo

When is your house a liability? Does the fact that you have a mortgage make your house a liability? Or do you have to owe more than the house is worth? What is a liability, anyway? Well, it depends. Looking at your house from a financial perspective, which you should do because if you’re like ... Continue reading this article…

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Housing Market Crash Predicted in 2003

by Flexo

In 2003, John Talbott predicted the housing market crash, in a way. It’s true that when the real estate market is exuberantly celebrating an uncharacteristic increase in home prices, you can predict a crash and just wait for it to come true. Here’s what Talbott, a former Vice President at Goldman Sachs and author of ... Continue reading this article…

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Senate Amendment to 2009 Stimulus Bill: $15,000 Tax Credit for Homebuyers

by Flexo

This text refers to the original $15,000 tax credit amendment for all homebuyers which has now been superseded. The tax credit is now $8,000 and is available for people who purchase a house between January 1, 2009 and November 30, 2009. Here is how to claim the $8,000 home buyer tax credit on your 2008 ... Continue reading this article…

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Senate Amendment to 2009 Stimulus Bill: Moratorium on Foreclosures

by Flexo

As Barack Obama’s 2009 economic stimulus plan makes its way through Congress, the Senate is taking the opportunity to modify the bill with the intent of providing assistance to the lagging housing market. Rather than allow the market to continue correcting itself, the government would like to encourage consumers to jump into the market, allowing ... Continue reading this article…

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Senate Amendment to 2009 Stimulus Bill: First-Time Home Buyer Credit

by Flexo

This text refers to the original amendment to the stimulus bill, which has now been superseded in the final law. The first-time home buyer tax credit is now $8,000 and is available for people who purchase a house between January 1, 2009 and November 30, 2009. Here is how to claim the $8,000 home buyer ... Continue reading this article…

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Senate Amendment to 2009 Stimulus Bill: 4% Fixed-Rate Mortgage

by Flexo

Updated March 20, 2009: The stimulus bill is now a law. Read our roundup of the many ways you can benefit. Without any Republican support, the 2009 stimulus package pushed by President Obama passed the House of Representatives. The bill is now making its way through the Senate, and it won’t come up for a ... Continue reading this article…

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