Owning a home is a great way to reduce (write off) some of your tax liabilities...but watch out for the following common tax-filing errors to avoid running afoul of the IRS. Sin #1: Deducting the wrong year for property taxes Sin #2: Confusing escrow amount for actual taxes paid Sin Continue Reading
2012 Annual Housing Report
Our local MLS has released it's 2012 Annual Report on the Twin Cities Housing Market. The report indicates that 2012 was a turning point in real estate as the housing market was on track to be a net positive contributor to the GDP for the first time since 2006. Whether it's thanks to the Fed's Continue Reading
Short Sale Process Cut in Half
Short Sale Process Cut in Half or More, Freddie Mac Says..."We estimate that the time to complete a short sale will decrease by approximately 50 percent to 75 percent," as a result of the changes", writes Tracy Mooney, Freddie Mac’s EVP in a recent blog post. [we'll believe it when we see Continue Reading
Existing home sales hit 5 year high in 2012
Sales of existing homes hit a 5 year high in 2012 , according to NAR (National Association of Realtors). sales throughout the U.S. were up by 12.8% median prices rose by 11.5% inventories fell by 8.5% a 4.4 month housing supply (lowest since 2005). Continue Reading
Good news for distressed home owners. Going over the fiscal cliff was going to put a big hurt on those already hurting from a foreclosure or short sale...the Mortgage Forgiveness Tax Treatment Gets One More Year - While there is still very little focus on the importance of this law, the fiscal Continue Reading
https://www.annieandbob.com/mortgage-forgiveness-debt-relief-act
Home Builder Confidence back to 2006 Level
Another sign that the housing market recovery is here to stay is the improved builder confidence score (National Association of Home Builders/Wells Fargo Housing Market Index (HMI)). "Builder confidence in the market for newly built, single-family homes rose for an eighth consecutive month...the Continue Reading
How’s the Market?
There are a number of tools that are at our disposal to help us sort through the befuddling, and sometimes misleading statistics out there. One resource is The Thing, sponsored by MAAR (The Minneapolis Area Association of Realtors). It is an interactive analytic tool that can narrow in on Continue Reading
Mortgage Video – What affects your credit score?
Weekly Mortgage Update - January 28, 2012: Mortgage 101 (Top 5 Factors that affect your Credit Score) Presented by Annie and Bob Pacieznik, REMAX Results, featuring Liz Peter Waterstone Mortgage. Continue Reading
VIDEO – What is PMI?
VIDEO WEEKLY MORTGAGE UPDATE Mortgage 101: PMI (Private Mortgage Insurance), Mortgage NEWS: Changes coming in FHA PMI fees Hosted by Annie Pacieznik and featuring Liz Peter of Waterstone Mortgage. Continue Reading
Minneapolis area real estate market:Way behind last year, because…
If you look at this past week, you'll see we're way off last year's sales numbers. But there's reason for it...last year, the First Time Home Buyer Tax Credit was expiring and wasn't going to be renewed. So, almost everyone who was going to buy in 2010, bought in the spring...and then...BOOM! Continue Reading
Real Estate Mortgage News:Expect volatility
The latest from our trusted mortgage advisor, Kathy Harrison of Bell Mortgage: "Over the last week we gradually saw long term rates move into the 5% range again. While investors have been happy with all of the Stock market gains we have seen, remember this will typically have an adverse affect on Continue Reading
Distressed Property and Real Estate: Missing mortgage payments (it’s not a secret)
www.ssaa.org pre-NOD heat map Wondering why you're getting a bunch of solicitations in the mail after you've missed a mortgage payment? How do these real estate companies know you're in trouble and why are they talking about short sales? Typically, when you miss a mortgage payment, the bank's Continue Reading
Weekly Mortgage Update 3
VIDEO WEEKLY MORTGAGE UPDATE Mortgage 101: PITI (Principal Interest Taxes and Insurance), Hosted by Annie Pacieznik and featuring Liz Peter of Waterstone Mortgage. Continue Reading