“It all depends on how we look at things.” Those words by Carl Jung (the founder of the school of analytical psychology) describe the importance of perspective… which is exactly what last week’s economic reports on home sales require. Existing Home Sales were reported well below expectations and a significant 27% decline from last month. [...]

5 Real Estate Scams You Need to Know About Don’t be duped by mortgage fraud. Here are a few common scams and the red flags you should look for in a transaction. Mortgage fraud is pervasive: An estimated $4 billion to $6 billion in annual losses result from mortgage fraud, according to FBI reports. “An [...]

Lately I have spent a lot of time writing about distressed homeowners, home sellers, short sales and foreclosures. But today I learned about “the other side”… Check this out: It’s called Versailles because it was patterned after the royal chateau near Paris. This 90,000+SF palace features a 6,000-square-foot master suite, a 60-foot by 120-foot grand [...]

== NEW FLASH == The U.S. Congress on Wednesday approved a bill extending the closing deadline for homebuyers trying to take advantage of tax credits. Homebuyers with contracts signed by April 30 who failed to go to closing by the June 30 deadline will now have until September 30 to complete their purchases. The House [...]

Warren Buffett’s Berkshire Hathaway continues to look for opportunities in the beaten-down real estate sector. Berkshire announced that one of it’s affiliate companies is purchasing Schiller Real Estate, which is described as the leading residential real estate firm in Elmhurst, Ill., a suburb of Chicago. Schiller is being merged with Chicago-based Koenig & Strey Real [...]

Well, I have been calling for this for over a year. Maybe, just maybe, help is on the way. NEW YORK (CNNMoney.com) — Bank of America announced Wednesday that it will first look at reducing the loan balances of certain distressed homeowners with subprime or adjustable rate mortgages to make their payments more affordable. The [...]

Current homeowners who sign a contract to buy a home on or before April 30 get a dollar-for-dollar reduction on their taxes of 10% of the purchase price of the home, up to a maximum of $6,500 (first-time buyers can get up to $8,000). But according to the National Association of Realtors, buyers spend about [...]

The Wall Street Journal recently reported that the number of people underwater on their mortgages (those who owe more than the property is currently worth), has increased to 23% nationally. Arizona is second only to Nevada with 47.9% of all home owners with a mortgage having negative equity in the third quarter of 2009. Another [...]

I was watching CNBC this morning when this news story broke. If you add the number of homeowners who are behind on their mortgages to the number of homes that are in foreclosure you will get a number that is greater than than the number of homes on that are currently active on the market! [...]

The First Time Home Buyer Tax Credit has been EXTENDED to July 1, 2010 and offers current homeowners looking to move a tax credit too! Purchase a home before May 1, 2010 and you may be eligible for a tax credit: $6,500 for current homeowners looking to move $8,000 for first-time homeowners Buyers who have [...]