Fiscal Cliff Negotiations Could Hurt Underwater Homeowners

The fiscal cliff draws closer by the day, and federal lawmakers are now trying desperately to reach an agreement that is at least somewhat palatable to both parties. Now, those negotiations might include a number of costly tax breaks designed to help consumers who owe more on their home loans than their properties are worth.

Full Story: http://realestate.aol.com/blog/2012/12/26/fiscal-cliff-negotiations-could-hurt-underwater-homeowners/

Housing is adding more vigor to the recovery, report says

The U.S. housing market is becoming the leading source of strength for the long-sluggish American economic recovery, outpacing both business investment and exports. But even with the return of that crucial linchpin, job growth is expected to remain weak next year, a new report by UCLA says.


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“Boomerang” home buyers bounce back from foreclosure

The number of boomerang buyers – locals who lost their home to foreclosure or short sale, but are jumping back into the market just two to three years after default – are small now, but real estate agents and home builders say that while these buyers don't currently make up a big share of their clients, there's evidence that their ranks are set to rise noticeably, and that could have implications for local home sales and neighborhood vitality.


Full Story: http://www2.realtoractioncenter.com/site/R?i=oB598rlfu7D7K7a80Vtulw

Should you buy a home during the holidays?

Once Thanksgiving is over, the real estate world typically starts to wind down for the holidays and doesn’t usually reawaken until after New Year’s.  But potential home buyers who are prepared to close in today’s competitive market may want to keep house hunting while everyone else is waiting for spring.
Making sense of the story

• REALTORS® especially recommend that serious home buyers continue shopping if they have repeatedly lost out on deals because of a limited and continually decreasing supply of homes.  Buying intensity typically cools down at the start of fall through early January, which could increase the odds for those with more patience.

• Would-be buyers historically have bowed out during the winter season because they are overwhelmed by holiday spending and commitments.  There’s also the aversion of moving in the middle of a school year.  Consumer interest typically picks back up again in the New Year and peaks in the spring.

• Certain buyers may be well-served to buy during the winter because of sellers who must move for various reasons including a job change or transfer or the possible sunsetting of the Mortgage Forgiveness Debt Relief Act, which lets certain home sellers get tax relief on mortgage debt forgiven by lenders.  The possible expiration has pushed home sellers to list and short sell their homes before year’s end.

Full Story: http://www2.realtoractioncenter.com/site/R?i=VhqlQyOCfsipK-_TY2irvg

Home prices show biggest jump in 6 years in October

Home prices increased 6.3 percent in October from a year earlier, the biggest year-over-year gain since 2006, according to CoreLogic.


Full Story: http://www2.realtoractioncenter.com/site/R?i=UIMLlPHkfhgvALzUpO6vdg