Real Estate Blog LA

Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors®. Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 2.9 percent to a seasonally adjusted annual rate (1) of 5.03 million units in February from a pace of 4.89 million in ...

Last month, President Bush signed the Economic Stimulus Package into law - setting aside $168 billion in tax rebates and incentives to help boost the US economy. As we head into spring, those tax rebates are getting ready to hit the mail. So when should you expect yours? That depends on a few factors, including when you file your 2007 tax return, ...

The National Multi Housing Council projects the number of "households that rent" will increase by  four million over the next 10 years, with half of them renting apartments in properties with five or more units. Looking back at  2007, the group said the number of renters in professionally managed  apartments ...

Question:Which U.S. city has been the worst affected by this year's housing slump???? Answer:Paramount, CA In Paramount, home sales dropped 78% in the third quarter from the third quarter in 2006, from 134 home sales to only 30 last quarter. Home prices in the city, located south of Los Angeles, rose last year to $500,000 for a "typical ...

Former Federal Reserve Chairman Alan Greenspan said that compelling lenders to alter mortgage contracts would be a damaging tax on the economy and it would be less harmful to simply give the homeowners money. Greenspan's concern is if lenders are compelled, either by law or by government arm-twisting, to change the terms of their mortgage ...

President Bush signed into law Thursday a bill creating a temporary tax break for homeowners who are able to persuade lenders to forgive part of their debt, and extends a tax deduction for some families with private mortgage insurance. For the next three years, the IRS won't count as income debt forgiven by lenders when troubled borrowers ...