Posted June 9, 2009 - 20:38 by Xin Lu
Personal Finance, Taxes, Real Estate and Housing, Consumer Affairs
As part of the Obama stimulus plan passed in January, first time home buyers in 2009 are entitled to a tax credit of up to $8000 that they do not have to repay. This tax credit was supposed to be given to the taxpayer after they file their 2009 taxes in 2010, but it seems that a new set of FHA guidelines is allowing many to take the money during closing. Here are some of the details.
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Posted June 8, 2009 - 16:22 by Xin Lu
Personal Finance, Real Estate and Housing
Lately it seems that rent prices have been dropping in many areas of the country. Here in San Mateo some residential apartments are dropping prices as much as 20%. This seemed a bit unbelievable until I looked on Craigslist and found that a specific apartment my husband and I looked at around two years ago actually dropped its price by $300 a month from $1699 to $1399 a month. With our lease expiring soon, I wonder if we should move or try to negotiate a lower rent.
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Posted May 7, 2009 - 12:50 by Xin Lu
Personal Finance, Deals, Real Estate and Housing
Amidst the financial crisis, many home builders around the country have run out of financing. Last week a bank decided to completely level 16 completed and partially built homes in Victorville, California because the builder defaulted on the project. While this is unfortunate, some bargain hunters were able to pick up some extremely cheap construction materials and home fixtures.
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Posted March 26, 2009 - 07:39 by Philip Brewer
Real Estate and Housing, Investment
I've recently heard from several people who want to buy a house and are thinking that now may be the time. In particular, they're worried that waiting might cause them to "miss the bottom" and lose the chance to get a great house cheap. In housing (unlike, for example, the stock market) you don't need to worry about that.
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Posted February 18, 2009 - 23:13 by Xin Lu
Personal Finance, Real Estate and Housing, Consumer Affairs
Today President Obama announced a new $75 billion Homeowner Affordability and Stability Plan to the world. It is touted as a plan that helps responsible homeowners who have not yet missed payments. However, will it really reward responsibility? Lets take a quick look at what is in the plan.
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Posted January 26, 2009 - 07:31 by Philip Brewer
Real Estate and Housing
Of all the changes you might make to live more cheaply, the most fundamental is finding a cheaper place to live. Sadly, it's an option that's largely closed off to people who are underwater on their mortgages. Unless they have cash to cover the difference between what their house will sell for and what they owe, they're pretty much stuck. Here are six options for people in that situation.
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Posted January 19, 2009 - 13:39 by Xin Lu
Personal Finance, Investment, Real Estate and Housing, Food and Drink, Lifestyle
Recently I read an enlightening story in the New York Times about the Pu'er tea bubble in Yunan, China. The burgundy fermented teas fetched prices of $150 a pound at the peak, but now sells for less than a tenth of those prices. I have actually been to one of those tea houses in Yunan, and I have also seen the rise and burst of the housing bubble in America. These experiences make me think that there is a certain formula to creating a speculative bubble out of anything, and here is what I have gathered.
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Posted September 8, 2008 - 14:52 by Xin Lu
Personal Finance, Investment, Consumer Affairs, Real Estate and Housing
Yesterday Henry Paulson decided to use the power given to him by the housing bailout bill to officially take over Fannie Mae and Freddie Mac. This is a decision that has a huge impact on global financial markets. So how does this change affect you? Here is a list of the winners and losers in this situation.
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Posted August 23, 2008 - 13:40 by Mary Webber
Real Estate and Housing
The homeowner wants to make the sale. The broker wants to make the commission. The lender wants to make the loan. It'd be nice to see all these folks made happy, but first... the appraisal. How does the appraisal process work? Get your appraisal questions answered by an expert with two decades of experience.
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Posted July 23, 2008 - 16:21 by Xin Lu
Personal Finance, Consumer Affairs, Real Estate and Housing
The United States House of Representatives just passed a massive mortgage bailout bill that includes many changes to the Federal Housing Administration and the Government Sponsored Enterprises. One particular change in the bill is that seller-funded down payment assistance through a third party is now prohibited in obtaining FHA loans. This in direct response to the unscrupulous behavior of many seller funded down payment assistance charities that sprang up in the past decade.
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