Wednesday, June 3, 2009

10 Best Places to Buy Foreclosure

RealtyTrac's 10 Best Places to Buy Foreclosures

Metro Area
Avg. Savings 
on Foreclosure Purchase
1-Yr 
Price
Apprecia-
tion
5-Yr 
Price 
Apprecia-
tion
Yr/Yr 
Employ-
ment 
Growth
Binghamton, NY 50.59% 7.79% 43.64% 0.06%
Augusta/ Richmond, VA 67.62% 5.85% 40.35% 0.60%
Syracuse, NY 68.91% 5.45% 34.69% 0.20%
Yakima, WA 71.37% 5.42% 34.51% 1.10%
Hickory/Lenoir/ Morgantown, NC 71.42% 5.42% 23.79% 0.10%
Kingsport/ Bristol, TN-VA 71.84% 5.11% 33.41% 0.40%
Columbia, SC 72.70% 5.43% 30.08% 0.10%
Charlotte/ Gastonia, NC 74.69% 6.58% 31.03% 2.10%
Provo/Orem, UT 77.78% 6.34% 51.14% -0.60%
Beaumont/ Port Arthur, TX 78.42% 5.90% 31.46% 0.10%

Sunday, March 8, 2009

New Tax Breaks For *First Time* Home Buyers

The US federal law makers have recently enacted a couple of tax legialations (tax breaks in the he form of loan/credit) that they hope would stimulate the economy:

http://www.bankrate.com/brm/itax/tips/20090305-first-home-buyer-credit-a1.asp?caret=4k

http://www.bankrate.com/finance/real-estate/great-time-for-first-time-homebuyers-1.aspx

Sunday, January 11, 2009

Inheritance Better Than Gift

According to this article, it is better to inherit a house as opposed to received it as a gift (for tax reasons):

http://www.bankrate.com/brm/news/realestateadviser/20090111-inherit-home-versus-gift-a1.asp

The reasons being the benefit of "step-up" for the basis of the house upon the death of the original owner.

Sunday, January 4, 2009

New FHA Conforming Jumbo Loan Limits

The new conforming loan limits have been set:

http://www.bankrate.com/brm/news/mtg/20090101_FHA_new_loan_limits_map_a1.asp

Here are the new limits for some counties in California (CA):


Alameda$ 625,000
Orange
$ 625,500
Alpine$ 463,450
Placer
$ 474,950
Amador$ 417,000
Plumas
$ 417,000
Butte$ 417,000
Riverside
$ 417,000
Calaveras$ 417,000
Sacramento
$ 474,950
Colusa$ 417,000
San Benito
$ 625,500
Contra Costa $ 625,000
San Bernardino
$ 417,000
Del Norte $ 417,000
San Diego
$ 546,250
El Dorado $ 474,950
San Francisco
$ 625,500
Fresno$ 417,000
San Joaquin
$ 417,000
Glenn$ 417,000
San Luis Obispo
$ 561,200
Humboldt$ 417,000
San Mateo
$ 625,500
Imperial$ 417,000
Santa Barbara
$ 603,750
Inyo$ 417,000
Santa Clara
$ 625,500
Kern
$ 417,000
Santa Cruz
$ 625,500
Kings
$ 417,000
Shasta
$ 417,000
Lake
$ 417,000
Sierra
$ 417,000
Lassen
$ 417,000
Siskiyou
$ 417,000
Los Angeles
$ 625,500
Solano
$ 417,000
Madera
$ 417,000
Sonoma
$ 520,950
Marin
$ 625,500
Stanislaus
$ 417,000
Mariposa
$ 417,000
Sutter
$ 417,000
Mendocino
$ 417,000
Tehama
$ 417,000
Merced
$ 417,000
Trinity
$ 417,000
Modoc
$ 417,000
Tulare
$ 417,000
Mono
$ 529,000
Tuolumne
$ 417,000
Monterey
$ 483,000
Ventura
$ 598,000
Napa
$ 592,250
Yolo
$ 474,950
Nevada
$ 477,250
Yuba
$ 417,000