Finance and Economy Archive
As the time to file income taxes approaches, we need to take a new look at the changing tax landscape for homeowners. The dynamic atmosphere in Washington, D.C. has a different effect each year on which tax breaks are proposed, rescinded, changed, and extended for taxpayers who own a home.
Thanks to the efforts of many real estate industry groups including the National Association of REALTORS®
, many of the tax benefits that homeowners enjoy–which were on the chopping block over the past few months–have been protected and extended through the 2013 tax season.
The tax benefits of the mortgage interest deduction (MID) are primarily targeted to the middle class. According to 2012 Congressional estimates
, 65.4 percent of the tax benefit is collected by households who have economic income of less than $200,000.
Location, location, location near public transportation may be the new real-estate mantra according to a new study released recently by the American Public Transportation Association (APTA) and the National Association of Realtors® (NAR). Data in the study reveals that during the last recession, residential property values performed 42 percent better on average if they were located near public transportation with high-frequency service.
“When homes are located near public transportation, it is the equivalent of creating housing as desirable as beachfront property,” says APTA President and CEO Michael Melaniphy.
Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates reversing course from the previous week and heading lower with the start of the spring
February existing-home sales and prices affirm a healthy recovery is underway in the housing sector, according to the National Association of REALTORS®. Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.8 percent to a seasonally adjusted annual rate of 4.98 million in February from an upwardly revised 4.94 million in January,
We’ve all heard that inventory is on the decline in several major markets across the U.S., creating a shortage for homebuyers who are on the hunt but coming up empty-handed.
In the January RE/MAX National Housing Report,
(MCT)—Even before dawn breaks, workers at the lumberyard in Lynwood, Calif., were bustling around, getting a move on the day. Men in yellow safety vests drove flatbed trucks stacked to the brim with planks of wood.
Mortgage applications decreased 7.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15, 2013.
In February, both home sales and prices rose higher than a year ago. After a decisive housing turnaround in 2012, this year looks to improve on recovering market trends. With data representing 52 metropolitan areas, the February RE/MAX National Housing Report shows home sales 2.3 percent greater than February 2012 ...
While recent economic reports suggest that home building took a pause at the beginning of 2013, leading indicators point to more growth for housing in the months ahead.
Per data from the Census Bureau, housing starts were down 8.5 percent in January. However, all of the loss was in the multifamily segment, where construction fell from an unusually high annualized rate of 365,000 in December to a steadier 277,000 rate in January.
Debra W. Still, CMB, Chairman of the Mortgage Bankers Association (MBA), applauded H.R. 1077, the Consumer Mortgage Choice Act, introduced earlier in March
Regional Spotlight--According to a monthly survey of real estate brokers by The Real Estate Board of New York, brokers remained confident in the market in February 2013,
Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates largely holding steady from the previous week, remaining near their 65-year record lows, and continuing to provide support for the housing recovery.
Results showed that the 30-year fixed-rate mortgage (FRM) averaged 3.52 percent with an average 0.7 point for the week ending March 7, 2013, up from last week when it averaged 3.51 percent. Last year at this time, the 30-year FRM averaged 3.88 percent.
Additionally, the 15-year FRM this week averaged 2.76 percent with
(MCT)—Andreea Stucker thought she made a good investment when she bought a Huntington Beach, Calif., condo with her boyfriend in December 2005.
But then she and her boyfriend split up.
Consumer attitudes toward the economy and housing continue to diverge this winter, according to Fannie Mae’s February 2013 National Housing Survey results. On the one hand, consumers continue to express strong