Posts Tagged: "Real Estate News"

30 Year FHLMC Rates 30-Year Fixed-Rate Mortgage Chart

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Deschutes County growth among fastest in US

The US Census Bureau estimates for population growth in the year ended last July 1 show the Bend-Redmond metropolitan area – actually encompassing all of Deschutes County – gained 4,433 residents over the previous year, up 2.7 percent to 170,388 residents, making it the seventh-fastest growth rate among US metro areas over that period.

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Home Sales Strongest in 7 Years

The housing market has been experiencing a “healthy recovery” over the past two years, with home sales last year rising to the highest level since 2006.

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Easier to get a Mortgage for some Borrowers

Borrowers may be having an easier time applying for a mortgage compared to a year ago.

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Nearly Every US City Can Expect Good 2014

US Conference of Mayors project that nearly every city in the United States is expected to see economic growth in 2014.

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Mortgage Debt Forgiveness Taxable in 2014

Chicago Tribune Real Estate answers questions about Mortgage Debt Forgiveness in 2014.

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Unearned Net Investment Income Tax FAQ

Frequently Asked Questions about Health Insurance Reform’s New Medicare Tax on UNEARNED Net Investment Income.

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Biggest Home Price Increase in 6 Yrs

CareLogic® reports that nationwide home prices, including distressed sales, increased ona year-to-year basis by 8.3% in December 2012 compared to December 2011. This represents the biggest increase since May 2006 and the 10th consecutive monthly increase in home prices nationally.

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Housing Market 2013

CBS Moneywatch article predicts housing depression will persist through 2013; interest rates will stay low through 2013 and probably through 2014; short sales and loan modifications will continue to increase.

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Mortgage Debt Relief Extended

The final act by the 112th Congress to avoid the fiscal cliff was a significant victory for homeowners. As a part of the legislation that cleared the US House of Representatives, Congress extended the cancellation of the mortgage debt relief provision for one year, through the end of 2013.

What does this mean?
If a lender forgives some portion of a homeowner’s mortgage in 2013, either as part of a short sale or foreclosure, or in a loan restructuring that reduces principal, the owner/seller will not be required to count that forgiven amount as income for tax purposes.

Why is it important?

  • Homeowners shouldn’t be forced to pay a tax on money they’ve already lost with cash they never received – and will never receive.
  • More than 20% of current homeowners with a mortgage are in a distressed financial situation and owe more on their homes than the current market value.
  • The housing market, while recovering, is still fragile enough that this tax relief is necessary to provide stability in the coming year.
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