When talking with real estate agents, when you hear them talk about buying real estate, they will refer to purchasing a "home." However if you are selling real estate, they will frequently refer to it as a "house." There is an explanation for these different terms used. Buying is typically an … [Read more...]

Commercial real estate activity has suffered from a severe credit crunch for commercial sectors, sustained job losses and weak consumer spending, although the decline appears to be slowing.  A forward-looking indicator shows commercial real estate will remain weak into 2010, but recent actions by … [Read more...]

The following is a statement by National Association of Realtors® President Charles McMillan: "NAR would like to congratulate and thank Department of Housing and Urban Development Secretary Shaun Donovan and Federal Housing Administration Commissioner Dave Stevens for implementing the FHA-Making … [Read more...]

For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®. Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 7.2 percent to a seasonally adjusted annual rate1 of 5.24 … [Read more...]

You or your friends and family can receive a tax credit of up to $8,000 for buying your first home. A first time buyer is considered to be someone who has not owned a home in the last 3 years. The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for … [Read more...]

Bringing the Dream of Homeownership Within Reach - Program Ends November 30, 2009 As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home … [Read more...]

In order to determine the maximum mortgage, lenders use debt to income ratios. That is the percentage of your monthly gross income used to pay monthly debts. A typical rule for debt-to-income ratios is around 33/38. For example, a borrower's housing costs might expend 33 percent of their monthly … [Read more...]

Many people know about the $8,000 home buyer tax credit, but did you know that the American Recovery and Reinvestment Act of 2009 also established a number of tax breaks for current homeowners who want to improve their home's energy efficiency? Energy-efficient improvements to exterior windows, … [Read more...]

Existing-home sales in the second quarter showed healthy gains from the first quarter in the vast majority of states, and price declines have increased affordability in most metro areas. Total existing-home sales, including single-family and condo, rose 3.8 percent to a seasonally adjusted annual … [Read more...]

With fewer and fewer buyers as well as tight financing, some sellers are offering rent or lease to own, or owner financing, alternatives. These options, usually called a lease-purchase option, require buyers to pay rents where some goes towards the agreed to purchase price. Lease or rent to own … [Read more...]