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  2. Real Estate 411
    3. (Page 6)

Real Estate 411

Fannie, Freddie Will Not Forgive Underwater Debt

Despite rumors to the contrary sweeping Wall Street and Washington, D.C., the White House says it is not planning to order Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of people who owe more than their homes are worth. “The administration is not considering a change in policy […]

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Home Owners Still Love Their Houses

Despite declining home prices, 90 percent of Americans don’t regret buying their current home, according to a survey for Bankrate.com. Among the 9 percent who do regret the purchase, most say they are unhappy that they can’t sell their home and move elsewhere or they can’t afford their monthly mortgage. Some 79 percent of those […]

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Single Buyers Choosing Suburbia Over Cities

Some 52 percent of single home buyers in April chose suburban locations over urban and rural areas, according to a survey by Coldwell Banker of 1,000 single buyers. · More than 53 percent of single home owners reported that they purchased a home because it was more cost effective than renting in their area, while […]

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Elimination of Homestead Exemption in Georgia

Public reports of the removal of the Georgia Homestead Exemption have left homeowners confused and agents unsure of what to say in their annual home buyer letters. The standard homestead exemption (and other exemptions based upon age) still exist and have not changed. What has been eliminated is the money that the homeowner may have […]

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Buyers Should Prepare for Extra Expenses

Home buyers should be prepared for a bundle of extra costs beyond the mortgage payment. “Some people walk away from closing with a nickel and a stick of gum, and that’s probably not going to be a good idea,” says Dale Robyn Siegel, president of Circle Mortgage Group, in Harrison, N.Y. People whose only previous […]

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Housing Inventory Decreases

The number of homes for sale declined 2.4 percent in November in the metropolitan areas covered by ZipRealty Inc. In the last 25 years, the decline in November has averaged 1.8 percent. The data doesn’t include New York, but Miller Samuel Inc., an appraisal firm, reports that inventory was down 7.1 percent from the end […]

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Good Housing News Predicted

All the leading indicators say housing is definitely on the mend, economists reported in advance of the official release of several pieces of good news expected this week. Bloomberg News surveyed 53 economists and asked them where they expected the numbers to fall. Here are their predictions: Construction starts in September are expected to hit […]

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Private Investors Dominate Foreclosure Market

Cities and municipalities are having trouble spending the money allotted by the controversial Neighborhood Stabilization Program, which was passed by Congress last year to acquire houses in blighted neighborhoods. The goal was to buy vacant properties at 1 percent less than appraised value, rehab them, and either sell or rent the homes to low-income residents. […]

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7 Tips for First-Time Home Buyers

Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today: Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage. Don’t become overconfident about income growth. Even though buyers in […]

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“Keep the Momentum Going”

NAR President Charles McMillan said Congress needs to keep the momentum going. “Even with a good recovery taking place, the market is not yet back to normal. With a gradual absorption of inventory, we are on the cusp of a general stabilization in home prices,” he said. “To ensure that housing has a broad stimulus […]

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