How long must you wait to buy a new home if you have a foreclosure or short sale in your credit history? New rules from Fannie Mae spell it out, and the news is not good for short sellers. “Time periods for securing a new home loan after a short sale can be as long …
Monthly Archives: March 2011
Out of work and losing his home, Norfolk man nears 65 with unease
Phoenix Ackiss sat precariously on an upright suitcase in the clutter of belongings in his living room, striving for balance amid the disorder of his life. For more than a year, he’d been out of work, his three degrees and experience in fields from mental health to shipyard work spurned by employers. Ackiss knew he’d …
Continue reading “Out of work and losing his home, Norfolk man nears 65 with unease”
More people are buying their homes with cash
The Vasquezs are not unique; cash buys are becoming common. The number of homes bought with cash jumped to 32% in January compared to 26% a year earlier, according to the National Association of Realtors. In Southern California, about 30% of the sales in January were cash, according to DataQuick Information Systems. Same thing in …
Continue reading “More people are buying their homes with cash”
3 Ways Your Home Can Fund Retirement
My plan for retirement is to spend our entire nest egg over the next several decades and then die promptly at 100. Well, almost the entire nest egg. We’ll still have our house. It’s recently occurred to me that we won’t actually need our house anymore when we’re dead. Many people are fine with this …
Florida legislature to consider new real estate laws
The many woes of Florida’s housing market are well-known: hundreds of thousands of foreclosures, millions of underwater mortgages and a four-year trail of depreciating property values. Florida lawmakers, handicapped by a $3.6 billion budget shortfall, will take their best shot at solving some of the most pressing housing problems during this year’s legislative session, which …
Continue reading “Florida legislature to consider new real estate laws”
Apartment Investors in U.S. Not Scared by Vinyl Siding in Search for Yield
Orchard Pointe, a 17-year-old, vinyl-sided apartment complex in Vancouver, Washington, wouldn’t have drawn a second look from Invesco Real Estate in early 2010, when most multifamily-property investors wanted newer, trophy buildings in coastal markets such as New York and San Francisco. “We wouldn’t have even considered it,” Greg Kraus, head of acquisitions at the Dallas-based …
Continue reading “Apartment Investors in U.S. Not Scared by Vinyl Siding in Search for Yield”