By Lou Barnes, Monday, January 3, 2005.
Rates popped up about an eighth of a percent last Monday (T-bonds to 4.32 percent, mortgages to 5.875 percent) in response to more Goldilocks data. Pretty good strength, but no dangerous heat. more...
By Dian Hymer, Monday, January 3, 2005.
Several years ago, real estate agents feared the worst when they heard the buyer was using an online lender. In many cases, the agents were not overreacting. Often mortgages originated online closed late, and this can wreak havoc with a home-purchase transaction. Some online loans never did close. One home buyer who used an online lender e-mailed his lender daily and did everything he could to stay on top of the loan process. Despite all his efforts, the transaction closed one week late. more...
By Jack Guttentag, Monday, January 3, 2005.
Recent bursts in property appreciation suggest to some observers that we are in a housing bubble. A bubble is a marked price increase fueled partly by expectations that prices will continue to rise. Once that expectation comes into serious question, the bubble bursts, and prices drop sharply. more...
By Robert Bruss, Monday, January 3, 2005.
DEAR BOB: My tenant in a rental house I own would like to buy it, and I would like to sell to her. Would an installment sale be a good way to save money on the capital gains taxes? Should I contact a Realtor or a real estate attorney? – Ed C. DEAR ED: Installment sales benefit property buyers and sellers. Your profit will be taxed at the current maximum federal tax rate of 15 percent for capital gains, plus state tax. However, the depreciation deducted after May 6, 1997, is taxed at a special federal "depreciation recapture" tax rate of 25 percent. more...
By Inman News, Monday, January 3, 2005. Housing and Urban Development Secretary Alphonso Jackson today announced that the Federal Housing Administration (FHA) has increased its single-family home mortgage limits by more than 7 percent from last year. Effective Jan. 1, 2005, FHA will insure single-family home mortgages up to $172,632 in low-cost areas and up to $312,895 in high-cost areas. The loan limits for two-, three- and four-unit dwellings also increased. The FHA is sending letters to thousands of mortgage lenders and brokers to make them aware of the higher rates that can help families. more...
By Inman News, Monday, January 3, 2005. The Conference Board's Help-Wanted Advertising Index, a key barometer of America's job market, dipped one point in November. The Index now stands at 36, down from 38 one year ago. In the last three months, help-wanted advertising declined in six of the nine regions across the United States. Largest declines occurred in the East North Central (-7.5 percent) and Mountain (-7.2 percent) regions. Help-wanted advertising increased in the Pacific (3.4 percent), East South Central (1.2 percent) and Middle Atlantic (0.8 percent) regions. more...
By Inman News, Monday, January 3, 2005. Private residential construction spending was at $554.7 million in November, up 10 percent from November 2003 but down 0.4 percent from October 2004, the U.S. Census Bureau reported today. The November spending total is a seasonally adjusted annual rate that projects a monthly total over a 12-month period. more...
By Inman News, Monday, January 3, 2005. Florida's housing market picked up the pace in November, shaking off lingering effects from the four hurricanes that pummeled the state over a six-week period in August and September. Last month, a total of 17,116 existing single-family homes were sold statewide for a 9 percent increase over last year's sales activity of 15,757 homes, according to the Florida Association of Realtors. more...
By Inman News, Monday, January 3, 2005. Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield dipped to 4.24 percent. The 30-year fixed-rate average slipped to 5.36 percent, and the 15-year fixed-rate fell to 4.79 percent. The 1-year adjustable was up at 3.46 percent. The 30-year Treasury bond yield sank to 4.84 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. more...
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