As popular as tax-free exchanges have become to investors and second-home buyers, facilitators are still facing the basic questions that were asked two decades ago.  more...

Trying to sell a home in a neighborhood where nobody is buying can be an extremely trying time for a seller. Foreclosures are on the rise, fueled by subprime loans that never should have been made and overeager investors betting on dreams of continued double-digit appreciation. Sadly, we are now feeling the results of too much credit chasing poor or borderline borrowers.  more...

If you feel better knowing you can deduct the mortgage-interest portion of your huge annual housing expenses, make sure you know exactly how much you can deduct.

One of the more popular topics I've had with accountants this year is regarding mortgage interest. You can deduct only interest on the original amount of the loan at the time you refinance, plus $100,000. For example, let's say you purchased your home 10 years ago for $100,000 and took out a loan for $80,000. Since then, you have paid the loan down to $20,000.  more...

Ted Jones never has tried to keep up with the Joneses. The senior vice president and chief economist for Stewart Title drags his own huge net to filter financial data and often offers opinions that are over the top compared to his housing brethren.

When it comes to second homes, he really heads back to basics and suggests potential buyers do the same.

"My definition of a second home is one that is purchased with no intention ever to sell it," Jones said. "If you sell it or even intend to sell it, it's an investment. Period.  more...

The comment simply added an international flavor to what has become an ongoing wrestling match about real estate commissions.  more...

The little condominium in the salt-water marina was across the street from the shopping center that had drawn the rest of my family. The "For Sale By Owner" open-house sign caught my eye as a chance to burn some time while the shoppers filled their bags.

The place was cute, well appointed and appeared in terrific condition for an older building -- the kind of place that probably would have sold in a matter of days two years ago. The owners, who are competitive sailors, had purchased the place as a second home but never found the time to use the place as much as expected.  more...

What do you do when the housing market is slow and you absolutely must sell? You pull out all the stops -- and pray for the best.

Let's focus on the "pray" part for a moment. More than 15 years ago, when home prices plummeted along with the hopes of many would-be sellers, I wrote about an ex-Jesuit priest and his family who had bought a new home in another city. They cleaned, polished and painted but could not find a buyer for their home. In addition, carrying two mortgages at the same time began to take a heavy toll.  more...

Some homes take longer to sell than others, adding anxiety to sellers who absolutely have to get a transaction closed within a specific period of time. And, when it rains, it pours.  more...

Who were the first snowbirds? It depends on where you ask the question.

Historically, snowbirds have been retirees who escape the cold of winter for a warmer climate. Residents of the East Coast tend to say they were the first to dodge the snow -- heading to Florida and the Caribbean, while West Coasters picked up the trend much later and invaded Arizona and Southern California. The term "snowbird" also is given to a significant number of Canadians who make Victoria, British Columbia, their home in January and February.  more...

Many older homeowners prefer reliable, dependable mortgage interest rates. It helps them plan their monthly financial calendars, especially when they are battling the challenges of paying for health care on fixed incomes.

Fixed-rate mortgages have been absent from the reverse-mortgage scene for more than decade, as lenders relied primarily on adjustable-rate mortgages insured by the U.S. Department of Housing and Urban Development. These mortgages, known as Home Equity Conversion Mortgages (HECMs), account for nearly 85 percent of the reverse market.  more...

While U.S. mortgage lenders are heading south of the border to finance real estate in Mexico and Central America, the push to penetrate the Canadian mortgage market is considerably cooler -- even with the 2010 Olympic Games in Vancouver just around the corner.   more...

While some of the nation's leading economists are optimistic for an improved housing outlook during the second half of 2007, Wall Street's capital markets researchers -- the money guys -- are concerned hundreds of thousands of home loan borrowers could be in default before the summer months arrive.

Chris Flanagan, managing director and head of global research for JP Morgan Securities, said approximately 35 percent of all subprime mortgage borrowers could have a difficult time meeting their loan obligations when their adjustable-rate mortgages hit their first adjustment period.  more...

The number of federally insured reverse mortgages made in the United States last year jumped 77 percent, and legislators and lenders are bracing for another huge increase in 2007.

The Federal Housing Administration, a branch of the U.S. Department of Housing and Urban Development, insured 76,351 Home Equity Conversion Mortgages (HECMs) in 2006 compared with 43,131 for 2005. The HECM is the most popular reverse-mortgage program and accounts for nearly 85 percent of the reverse market.  more...

The peaks and valleys of the 2006 housing market were curious -- perhaps even unique -- but consumers and real estate professionals will probably experience a more consistent, positive environment in 2007, according to leading industry analysts.

National economists and pollsters, even the legendary Alan Greenspan who retired as chairman of the Federal Reserve early last year, also concurred that housing activity should pick up some steam in 2007.  more...

I've seen several real estate offices perform exceptional service for their customers. I've seen teams of agents work efficiently together -- every detail covered and in sync -- every question answered in a courteous, informative way.

I've also sat in some offices, attempting to obtain basic information about an open house, and wondered how the company could keep any clients. Such an experience brings to mind the familiar phrase that "20 percent of the agents do 80 percent of the business."  more...