Real Estate News

Fate of tax credit hinges on necessity
By Mary Ellen Podmolik
The Chicago Tribune
September 11, 2009

You can expect to hear a lot more from the housing industry about the approaching expiration of the first-time home buyer tax credit now that Congress is back in session.

Your House: Just a Home
By M.P. McQueen
The Wall Street Journal
September 14, 2009

It's time to face facts, if you haven't already: sometimes your house is just a home.

For most of the last decade, Americans treated their homes as sources of ready cash and as brick-and-mortar retirement plans. Overleveraged at purchase with no down payment, no documentation and negative-amortization mortgages, homeowners also mined equity with home-equity loans and lines of credit.

Why it's time to invest in real estate
It's scary to jump into the housing market when prices have been plunging. But waiting could end up costing you.
By James B. Stewart
SmartMoney
September 10, 2009

I recently heard a story of a man in San Diego who is in serious trouble with his mortgage. Even though this man makes a good living (and combined with his wife’s, are well above average), this time he really thinks he’s in trouble.

New normal for home sales: Buyers have the power
By Adrian Sainz,
AP Real Estate Writer
September 8, 2009

The American dream of homeownership is still attainable. Buyers just have to deal with a new set of realities.

A year after the collapse of the housing market triggered the financial meltdown, lenders are demanding more money up front, high credit scores and proof of income. Paperwork must be in perfect order. Patience and persistence are required. And don't even bother asking about a subprime mortgage.

Hello Everyone...

Hello Everyone...

I have been an investor since 1986...without the huge success that Dean has had. I am of a different era than what Dean has done. When I got in it was names like Robert Lowry, Dave Del Dotto, Robert Allen, and Carlton Sheets. They all had the same thing. Nothing Down! I have all their books, tapes, CD's, manuals and others besides them. I paid $5,000 for a 5 day seminar that pumped you up so high you thought you could do anything! They all said that you had to be due diligent. Follow through and make sure everything is right before you commit.

Five more banks fail -- 89 so far in 2009
Regulators close banks in Arizona, Illinois, Iowa and Missouri.
By Amy Haimerl
CNN Money
September 4, 2009

Five small regional banks were closed by regulators on Friday evening, pushing 2009's tally so far to 89 institutions. Of the five failures, two were in Illinois, and there was one each in Arizona, Iowa and Missouri.

Customers of the banks, however, are protected. The Federal Deposit Insurance Company, which has insured bank deposits since the Great Depression, covers each customer account up to $250,000.

Homebuyers cashing in $8,000 tax credits
Index of 20 major cities rises on a monthly basis for the first time since July 2006, hinting that the worst of the declines may be over.
By David Goldman
CNN Money
September 4, 2009

Hundreds of thousands of first-time homebuyers across the country have begun to claim their tax credits, according to new government data released on Friday.

So far, nearly 315,000 people have claimed the tax credit after filing an amended 2008 tax return, according to a Treasury Department report on the status of the Recovery Act.

Debt Clouds Future of Miami's Fabled Fontainebleau
The Wall Street Journal
By Kris Hudson and Tamara Audi
September 4, 2009

MIAMI -- South Florida's Soffer family, already roiled by the June bankruptcy of its $3 billion Fontainebleau casino-hotel project in Las Vegas, is grappling with troubles at another cornerstone of its $7 billion real-estate empire: The original Fontainebleau hotel in Miami Beach.

Miami's Fontainebleau hotel recently underwent a $500 million renovation.