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Bay Area Real Estate Report | NAR to Obama: Lay off the mortgage interest deduction!

  
  
  

A few weeks ago, National Association of Realtors® President Moe Veissi issued a statement aimed at Obama's budget proposal that can be summarized as follows: "Lay off the mortgage interest deduction!" (MID). 

 

Homeowners in the Bay Area, or California for that matter can relate to this. Californians are already at a high tax rate.  Income tax, sales tax, gas tax, property tax, recycle tax, phone surcharge tax, utility tax, and many other taxes, to eliminate the MID would only add another burden to California homeowners.  And the NAR is making notice that they aren't too keen on Obama's budget proposal to limit real estate itemized deductions.

 

Bay Area Real Estate Short Sales: Mortgage Debt Relief Act is expiring Dec 2012

  
  
  

ALERT! For those thinking of doing a short sale on your primary residency: Time is running out!  The Mortgage Debt Relief Act of 2007 will be expiring this coming December 31 2012, if it is not extended by the government before then. 

 

Homes for sale by owner: Do they recover their costs?

  
  
  

Homes for sale by owner: Do they recover their costs? The FSBO vs Agent assisted dilemma. Should you consider selling your house by yourself?  For sale by owner (FSBO) homes can seem to be a sure way to save on agent fees and pocket the money you saved, but is it the best route to sell your home?  Or are you better off leaving all the leg work and legal work to an agent?  Like most scenarios, there are two sides to the story.  But the bottom line is in the end, will it all be worth the cost.

 

Will Obama's mortgage proposal plus the best rate mortgages help?

  
  
  

Will Obama's mortgage proposal from the State Of The Union address plus the best mortgage rates in decades, help the housing market this time?  With many properties underwater or on the brink of short sale status, and record low mortgage rates, the opportunity seems to be there for these homeowners to keep their homes.

 

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