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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 for ... Continue reading this article…
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Today’s guest on the Consumerism Commentary Podcast is David Bach, author of Start Over, Finish Rich: 10 Steps to Get You Back on Track in 2010, a book in which David discusses getting out of debt in 2010 and how to make the most of the recovering economy. David is a former senior vice president ... Continue reading this article…
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Ten years from now, how do you want to look back on this decade? In terms of my finances, it would be hard to top the last ten years. This was the decade my net worth as I measure it for Consumerism Commentary soared from below zero to $300,000. Sure, that progress pales in comparison ... Continue reading this article…
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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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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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If you are reading this article, it is almost completely guaranteed that you are human. And if you are human and do not have a major cerebral deficit, you have emotions. Perhaps have is not a strong enough word; everything you do, and every decision you make, is controlled by your emotions. Even the strive ... Continue reading this article…
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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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In this episode of the Consumerism Commentary Podcast Tom Dziubek and I discuss home purchasing and ownership with David Crook, editor of the Wall Street Journal Sunday and author of Complete Home Owner’s Guidebook and Complete Real-Estate Investing Guidebook. Within today’s podcast, David Crook shares his evaluation of today’s real estate market and offers suggestions for ... Continue reading this article…
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For those of you who have filed or are planning to file an amended income tax return (form 1040X) to receive the (up to) $8,000 first time homebuyer tax credit this year rather than waiting for next year, there is some good news. Although the IRS is more than likely overwhelmed, the refunds are currently taking ... Continue reading this article…
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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 Washington, ... Continue reading this article…
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Kerry K. Taylor, author of 397 Ways to Save Money and creator of financial blog Squawkfox joins Tom Dziubek today to discuss her book, currently available from Amazon.ca. Kerry explains how she paid off $17,000 of debt in six months and how to make drastic life changes. She also shares some of her favorite ... Continue reading this article…
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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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Seven years ago, when people I knew were buying houses they couldn’t afford with the philosophy that real estate prices always go up, and the go up fast, I was sitting on the sidelines. I had no money, no desire to settle down, and no belief that real estate in the form of home ownership ... Continue reading this article…
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A quick roundup of current lending news. In December 2008 we reported a prediction that credit card issuers would be reducing available credit by about 45 percent, and recently the company behind the FICO score released a report of credit lines being reduced from April to October 2008, right before that prediction was made. From the study, we ... Continue reading this article…
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Earlier today, the IRS officially began accepting 2008 electronic tax returns for individuals claiming the $8,000 tax credit for qualifying first time home buyers who purchased a house in 2009. If you qualify and have purchased your home this year, you can now file your taxes using TurboTax, TaxAct, H&R Block, or any other software ... Continue reading this article…
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Update: The IRS is now accepting tax returns claiming the $8,000 first-time home buyer tax credit. Earlier this month, and in some cases at the end of February, major tax software providers like H&R Block, Intuit TurboTax, and TaxAct updated their programming to allow qualifying taxpayers to claim the $8,000 tax credit for first-time home buyers. ... Continue reading this article…
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Claim the tax credit with Intuit TurboTax or H&R Block At Home. Are you claiming the home buyer tax credit with your 2009 income tax return? Read these new instructions. The credit has been extended and expanded to qualify for more people, including long-time homeowners. I’ve included some of the basic information below. Because the IRS ... Continue reading this article…
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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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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 ... Continue reading this article…
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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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