ARCHIVED BLOG POSTS
I am listening to the local news this morning in Webster, Ma when I hear the TV personality talk about the possibility of another $8,000 tax credit. What! I follow congress pretty closely on real estate issues. No where have I heard this being mentioned except on channel 5 today. This is not w...
Wow, nasty news! Not quite unanticipated if you have been following the pending sales index. The blame for sales drop continues to be the federal tax extension expiring. I don't think that this is the main reason. It starts with consumer confidence and employment. The current interest rates ...
I wish I had a camcorder with me yesterday. We were doing a home inspection on a bank owned three family. We could not get into the key portion of my supra lockbox. The home inspector used a credit card to get into two units. The third unit had a brand new door and the dead bolt was in use. ...
I just read an article by James Altucher on 7 reasons not to buy a home. What a PUTZ! Let me list them and my counter arguments. 1. No diversification. Most people's net worth is in their home and they borrow money to pay for it. James has no idea about deductions. Your interest and tax payme...
This has been an interesting housing downturn on many fronts. This has not been a typical downturn with respect to residential vacancies in New England. Vacancy rates have been low and steady. Of course this is not true in states like Florida or cities like Las Vegas. Historically is was aroun...
Let me count the ways. Seriously without Freddie and Fannie buyers lose a source of affordable, long term mortgages. We do have the private sector that have turned mortgages into securities and have sold them to investors. These investors are very fickle. They panic at the drop of a hat. If w...
It really doesn't matter what philosophical or political party that you belong to. What does matter is the arrogance of our government and their complete disregard for the majorities opinions. A judge in California has completely disregarded the votes and opinions of 6 million voters. He decide...
Wow! Lot's of zeros. This what some mystery buyer paid for a two story, six bedroom home overlooking One Hyde Park. This is a new development in London with park views, bulletproof windows, a panic room and according to the developer the "ultimate in perfection". You think? Speculation is tha...
These are the totals for both companies posting double digit loss growth. Ouch! Fannie Mae posted a 1.2 billion dollar loss just for the second quarter. REO's up 18% for the first quarter. Freddie Mac reported 4.7 billion second quarter loss. REO's up 79% from a year ago. Interesting times.
Fact or fiction? Fiction! The myth is around that all real estate transactions are subject to 3.8 percent tax. That statement is simply not true. Not all real estate sales are subject to this tax. Without knowing total income and deductions you can't predict the tax liability. The Medicare ...