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Do tax breaks exist for elderly home sellers?

By Benny Kass, Thursday, December 27, 2007.

DEAR BENNY: I am a 90-year-old widower. I will have to sell my house when I am no longer able to drive. My problem concerns the possible tax on my profit. I possibly will get double my cost of 20 years ago but the dollars have lost half of their value (purchasing power) so there may be no gain at all. I call this "imaginary profit."

I understand that in the past there was no tax for elderly people when they sold their house at a gain. Is there such a law presently in existence?  more...

Credit crunch amplifies housing downturn Premium Content

By Matt Carter, Thursday, December 27, 2007.

The credit crunch showed few signs of abating going into 2008, and threatened to magnify the housing downturn by adding more foreclosed homes to already bloated inventories and making it impossible or too costly for many would-be home buyers to obtain a loan.

While dozens of mortgage lenders stopped making loans or went out of business in 2007, a bigger problem for many borrowers has been the tightened underwriting standards rushed into place by lenders who remain.  more...

Top real estate stories of 2007 Premium Content

By Inman News, Thursday, December 27, 2007.

"Downturn," "subprime," "foreclosures" and "credit crunch" are the top phrases that come to mind when looking back at the year in real estate news. 2007 will be remembered as the year the subprime mortgage market collapsed, causing a credit crunch whose effect on the broader economy is still to be determined. The credit crunch has caused everyone to wonder whether the housing market will now play a role in tipping the economy into recession in 2008.  more...

Can landlord refuse to house Section 8 tenant?

By Janet Portman, Thursday, December 27, 2007.

Q: We own and manage a small apartment building, and we have never participated in the federally subsidized "Section 8" program (we don't want the administrative hassles of dealing with the local housing agency). We recently rejected a disabled applicant who otherwise qualified for an apartment because she wanted to use a Section 8 voucher (she can't pay the full rent without it).  more...

Don't let foundation vent covers stay broken

By Paul Bianchina, Thursday, December 27, 2007.

Q: The metal rods that operate the covers on my foundation vents no longer work, and I want to replace them. Can you recommend a replacement, or a way to make my own? Also, do you feel that closing the foundation vents is even necessary? --Steve B.

A: First of all, I do recommend that the crawl space be sealed off during the coldest part of the winter season in order to prevent frozen pipes.  more...