Posts Tagged: "Real Estate News"

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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Bend Housing Market: Smiles

The National Association of Home Builders added Bend, OR; Phoenix, AZ; Bowling Green, KY and Lubbock, TX to its ‘100 Housing Markets that will be improving in May 2012’ list.

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Bend: Improving Housing Market

Bend’s housing market is on the mend, according to the folks who should know – the nation’s home builders – who on Monday added Bend to its list of improving markets.

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Flood of foreclosures to hit market

Now that a settlement has been agreed upon by the big five banks, we will be seeing more foreclosures. Although a flood of foreclosures hitting the market has its downsides, it is good for buyers that are looking at bank owned properties hoping to find a “good deal”.

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Record Low Mortgage Rates

The 15-year fixed rate hit yet another record and the 30 year fixed rate is just short of its own record low. Don’t pass up this great time to purchase a home.

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Green Home Trends

This “Going Green” article on Zillow Blog covers everything from replacing your light bulbs to upgrading to a composting toilet. Although a composting toilet might seem a little extreme, you might find some other ideas that would work for you.

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Short Sell To Avoid Foreclosure

Short Sale is a good option for struggling homeowners that are facing foreclosure. This MSN Real Estate article goes over some of the benefits.

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How HPF Can Help You

If you are struggling to make your mortgage payment, HPF Homeownership Preservation Foundation offers some help including reliable, free foreclosure prevention counseling and advice.

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Prices May Withstand Foreclosures

Another wave of foreclosures is on its way according to this article on AOL Real Estate.

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