As featured in The Wall Street Journal, Money Magazine, and more!

Real Estate and Home

One-Third of Home Loans are Under Water

by Luke Landes

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 […]

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

by Luke Landes

“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 […]

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

by Luke Landes

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 […]

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Your House Is Not a Good Investment

by Luke Landes

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 […]

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

by Luke Landes

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 […]

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Should You Walk Away From a House and Mortgage?

by Luke Landes

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 […]

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Obama Sends $75 Billion to Homeowners in Foreclosure

by Luke Landes

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 […]

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Is Your Home an Asset or Liability?

by Luke Landes

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 […]

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Housing Market Crash Predicted in 2003

by Luke Landes

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 […]

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

by Luke Landes

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 […]

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