Buying a house is one of the most exciting purchases a consumer will ever make. But unlike other high-dollar items that come with a no-hassle return policy, sale on homes are typically final. Making a hasty choice can leave a homeowner stuck in an uncomfortable living arrangement for years to come. Thankfully, a new Trulia survey seeks to help prospective buyers learn from the regrets of current homeowners. According to the survey, 52 percent of homeowners dislike something about the home they … [Read more...]
Shareholders Overwhelmingly Approve Zillow-Trulia Merger
December 19, 2014 by
A surprisingly high number of shareholders for both Zillow and Trulia voted yesterday to approve the much-anticipated merger between the two online real estate powerhouses. According to Housing Wire, more than 88 percent of Zillow shareholders and more than 79 percent of Trulia shareholders voted in favor of the proposed merger. Before the deal can be finalized it needs to jump one more hurdle: FTC approval. The earliest speculators say that will happen is Feb. 1. Read the entire article to … [Read more...]
Congress Temporarily Extends Expired Tax Breaks for 2014 Filing Season
December 18, 2014 by
Struggling homeowners, small businesses, and people who live in states without income tax will get to claim previously expired tax breaks again for 2014. Thanks to a last-minute fix from Congress this week, 54 expired tax breaks have been temporarily approved through the end of the year. President Obama will review the Congress-approved tax package and is expected to sign it to keep the tax breaks in effect into 2015 and beyond. One of the standout tax breaks in the package saves struggling … [Read more...]
Is Winter Really the Worst Time to Sell Your Home?
December 17, 2014 by
Popular opinion would have it that January through March is the worst time to put your home on the market. But, a new study released by tech-savvy real estate brokerage company Redfin seeks to put an end to that common myth. According to Inman News, the brokerage firm’s latest study reveals that homes have the best chance of selling in 90 days or less in the months of January, February and March. Homes put on the market in October and November had the lowest chance of selling within 90 days or … [Read more...]
What is the Average Real Estate Agent’s Take Home Pay?
December 16, 2014 by
With popular reality shows, like Bravo TV’s Millionaire Listing, glamorizing the big commission checks that top realtors receive, some home sellers have become even more disillusioned about the 6% fee they have to pay to sell their homes. But according to RIS Media, the average realtor in America only takes home about $38,000. In a recent video news update, the media outlet breaks down the commission fee to show what portion real estate agents actually take home after commission splits with … [Read more...]
Proposed Chapter 11 Reform Would Make Bankruptcy Filing Easier for Small Businesses
December 13, 2014 by
The American Bankruptcy Institute released a much-anticipated report this week filled with recommendations for reforming Chapter 11. The lengthy report proposed several changes that would make filing Chapter 11 more affordable and less complicated for small businesses with less than $10 million in assets or debt. According to the report, small companies made up 74 percent of all firms that filed for Chapter 11 protection last year. One way the ABI is recommending making Chapter 11 easier for … [Read more...]
Congress Nixes Costly FHA Administrative Fee from Senate Bill
December 13, 2014 by
Congress has officially dropped a provision from Senate Bill 2438 that would have allowed the Federal Housing Authority to impose and collect a 4 basis points fee from mortgage lenders. The costly fee, which was buried in the bill, was highly opposed by The Community Mortgage Lenders Association (CMLA). The group appealed to House and Senate appropriators late last month to formalize their concerns about the fee hike. In a breaking news story from HousingWire, CMLA Chair Paulina McGrath said, … [Read more...]
Iowa to Create First Digital Driver’s License for Smartphones
December 12, 2014 by
A smartphone will soon be the only identification Iowa residents need to carry. The state is working on building a free app for iOS and Android devices that would provide access to the nation’s first smartphone driver’s license. Iowa drivers would have the option to go digital or carry the traditional card. According to a recent article in The Wall Street Journal, the state is still working through certain legal issues that might be introduced by the new format. One potential problem the article … [Read more...]
Freddie Mac, Fannie Mae Suspend Evictions for the Holidays and Unveil 3% Down Loan-Programs
December 12, 2014 by
In keeping with the spirit of the holiday season, Freddie Mac and Fannie Mae announced this week that they will suspend evictions on their foreclosed properties between Dec. 17 and Jan. 2. For the past several years, the mortgage companies have placed a moratorium on foreclosures to give struggling homeowners peace-of-mind knowing they will not need to find new housing during the holidays. The federal mortgage giants also unveiled new down-payment programs this week that will allow first-time … [Read more...]
Illinois Makes Top 5 List of States with Highest Per Capita Bankruptcy Rate
December 12, 2014 by
With 4.72 bankruptcy filings per thousand residents, Illinois ranked number five among states with the highest per capita bankruptcy filing rates in 2014. Tennessee topped the list with 6.22 filings per thousand. Alabama, Utah and Georgia were also in the top five, according to data released by the American Bankruptcy Institute. On a national level, the report revealed a 16 percent decrease in overall bankruptcy filings compared to this time last year. In November 2013, there were 74,070 … [Read more...]
