Buying a home is a trying and complicated process. It often strains relationships and puts an enormous amount of stress on buyers physically, mentally and financially. That’s why the folks at the Boston Globe have put together this list of 10 things to keep in mind as you weather the home-buying storm. [More]
real estate
Calculator Tells You Whether to Rent Or Buy
By 4.24.10
The New York Times has a soul-soothing calculator that lets you know whether you’d be better off renting or buying. [More]
Um, So What's Going To Happen When The Home Buying Tax Credit Expires?
By 3.30.10
Here’s a question nobody knows the answer to: What’s going to happen when the (already extended) Homebuying Tax Credit expires April 30th? [More]
Mapping The Hidden Costs Of Living In The Suburbs
By 3.26.10
Living in the city seems much more expensive than the suburbs, until you consider transportation costs. Good points us to a new tool from The Center for Neighborhood Technology that maps the percentage of income various areas spend on transportation and housing combined. Turns out living in the suburbs can be less cost effective.
Something to research when you’re thinking of moving. [More]
When Should I Make Extra Mortgage Payments?
By 3.23.10
We get a surprising amount of letters from people who regularly make extra mortgage payments. (Extra payments sometimes confuse the bank and causes headaches.) It seems like it would always a good idea to pay off debt if you can afford it, but with current mortgage rates as low as they are.. does it still make sense? [More]
Woman Who Lost Home Over $68 Dental Bill Might Get Another Chance
By 3.1.10
Almost a year ago, Sonya Capri Ramos was in the news because she’d lost her home over a $68 dental bill. Last week, the Utah Court of Appeals gave her some hope that she might be able to get it back from the title company that bought it at auction for $1,550. [More]
VIDEO: 5 Tips For Selling Your Home Now
By 2.26.10
It doesn’t take a rocket scientist to know that the current real estate market is not exactly a seller’s paradise. Nevertheless, there are still a lot of people who need to unload their homes now. The early risers over at Good Morning America put together this video highlighting 5 steps you can take to help your property stand out. [More]
Is Rich Dad Robert Kiyosaki Getting Rich Off Suckers?
By 2.24.10
If you’re looking to get rich, a CBC Marketplace hidden camera investigation reveals that Robert Kiyosaki’s “Rich Dad” seminars should probably be avoided. They attended a $500 3-day workshop and found it was little more than some very poor real-estate investing advice – tricks like “lease options,” “pre-foreclosure” and “buy 10 condos, get 1 free” – sprinkled on top of heavy upsells into the $12,000-$45,000 “advanced” training courses. In a new twist, the instructor tells everyone to go raise their credit card limit by $100,000 so they will have the money they need to start investing in real-estate, and even gives them the scripts to do it. [More]
Maybe Homeowners Wouldn't Strategically Default If Lenders Cooperated
By 2.4.10
There’s an interesting detail at the end of this New York Times article on borrowers who strategically default–that is, they choose to walk away from the home when its value is significantly less than the mortgage balance. It turns out that the homeowner mentioned at the start of the article applied last fall for a loan modification with Bank of America after his income level had dropped, and this was BofA’s response: “The lender came back a few weeks ago with a plan that added more restrictive terms while keeping the payments about the same. ‘That may have been the last straw,’ Mr. Koellmann said.” [More]
Largest Ever Single Residential Property Deal Collapses Under Debt Mountain
By 1.25.10
The company that paid the most ever for a single residential property in the US is giving up and giving the development back to its lenders, says the WSJ. [More]
Twitter Defamation Lawsuit Dismissed
By 1.21.10
The burgeoning Twitter libel defense industry was dealt a blow recently when the infamous Twitter defamation lawsuit was dismissed. Apparently, it is quite difficult to craft a Tweet that fits the legal requirements for defamation in this country. [More]
Should You Be Let Out Of Your Lease If Your Apartment May Plummet Into The Sea?
By 1.12.10
It’s nice to have an apartment on a cliff overlooking the ocean — until the cliff decides to stop existing. That’s what is happening to one apartment complex in Pacifica, CA. [More]
Rental Vacancies Are Up Along With Foreclosures. Wait, What?
By 1.11.10
So apparently apartment vacancies were up to 8% in the last quarter, which is weird because one would assume that people getting tossed from their foreclosed houses would be renting. Marketplace has some thoughts on the problem. [More]
30-Year Ski Passes Available!
By 1.5.10
USAToday says that a Utah ski area is offering a limited number of 30-year ski passes to people who buy condos. [More]
Citi Promises No Foreclosures Or Evictions For One Month
By 12.17.09
About 4,000 borrowers who were either scheduled to have foreclosure sales or who were going to receive foreclosure notices will be left alone until January 17th, according to CNN. [More]
About 1 In 4 Borrowers Is Underwater
By 12.1.09
The Wall Street Journal says the number of borrowers currently underwater on their mortgage (meaning they owe more than the property is worth) has swelled to 23%. Ouch. [More]
New Record! 9.64% Of All Mortgages Delinquent!
By 11.19.09
The Mortgage Bankers Association has announced that 9.64% of all mortgages are now delinquent, and this delinquency rate breaks the record set last quarter. The records are based on MBA data dating back to 1972.
Pontiac Silverdome Sells For Only $583,000
By 11.18.09
35 years ago, taxpayers paid $55.7 million to build the Pontiac Silverdome, former home of the Detroit Lions. The city of Pontiac has been itching to be free of the stadium’s $1.5 million umaintenence bill, so it sold the property at auction. For $583,000.
