Looks Like The First Time Homebuyer Credit Will Be Extended

WASHINGTON — Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.
Senators agreed to extend the existing tax credit for first-time homebuyers while offering [...]

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California Median Home Price Rises Again

LOS ANGELES (Oct. 26) – Home sales increased 2.1 percent in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“The market’s momentum continued in September, as many home buyers took advantage of the federal [...]

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Scam alert for Los Angeles County… they are at it again…

We first alerted you to the Property Tax Assessment letter in February of this year. The company was called Property Tax Reassessment and for a fee of $179, they would on your behalf, file paperwork with the LA County Tax Assessors Office to have your Property Tax reassessed and save you approximately 25%. If for [...]

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September Home Sales High Water Mark For ‘09

Racing to complete their purchases before a tax credit for first-time owners expires, homebuyers pushed sales up last month by the largest amount in more than 26 years.
After jumping 9.4 percent in September, home resales are up nearly 24 percent from the bottom in January, the National Association of Realtors said Friday. But the housing [...]

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Median Price steady while home sales in So Cal inch up

Southland home sales edged higher last month, bolstered by late-closing summer transactions, low mortgage rates and buyers hoping to take advantage of a soon-to-expire tax credit. The region’s median sale price remained lower than in September 2008 but, for the first time in years, several counties logged year-over-year gains in the median price paid for [...]

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Will They Add The “Cram-Down”?

With midterm elections just 12 months away, Congress is once again preparing to answer the continuing foreclosure crisis by resurrecting the Cramdown, which allows bankruptcy judges to adjust the terms of home loans to give borrowers relief.

Moody’s Economy.com estimates that 3.8 million homes will enter foreclosure this [...]

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