Posted on November 24, 2008 by Nancy Liu | Category: Real Estate
Facing possible foreclosure? What now? With Fannie Mae and Freddie Mac fell under, each day goes by the news becomes more worrisome. “What happened in the past few days indicate that we are now in an economic crisis, and this crisis is still deepening, and will continue for a period of time. We are looking… Read More
Posted on November 12, 2008 by Nancy Liu | Category: Real Estate
Homeowners Benefit from the Housing and Economic Recovery Act of 2008 The last article has thoroughly described the tax credit benefit the Housing and Economic Recovery Act of 2008 (HERA) has brought to first-time home buyers. In this article, let’s talk about what benefit HERA has brought to general property owners. The first benefit HERA… Read More
Posted on November 11, 2008 by Nancy Liu | Category: Real Estate
The Housing and Economic Recovery Act of 2008 gives a $7500 tax credit for the buyers who purchased their first house this year. This is good news for people who wanted to purchase a house, but were reluctant because of the economic crisis. So, who is qualified to enjoy this benefit? All first-time home buyers… Read More
Posted on February 17, 2008 by Nancy Liu | Category: Real Estate
Property Disclosure Statement in Real Estate Transactions In a real estate transaction, the seller must provide a Property Disclosure Statement to the buyer. Normally, the Property Disclosure Statement is a standard questionnaire prepared by the listing agent according to answers from the seller regarding the history, current situation, damage, or problems that may have occurred… Read More
Posted on February 10, 2008 by Warren Wen | Category: Real Estate
Atlanta Real Estate Outlook in National Real Estate Slump In our previous article, we predicted that for 2008, a recession in US is not avoidable. Moreover, what the United States has to face today is not only the subprime loan crisis or even recession. It is the falling down of US modern banking system and… Read More
Posted on February 03, 2008 by Warren Wen | Category: Real Estate
What Can We Do with the Current US Economy Crisis? Contrary to what most of the main stream economists hope, the current US economy crisis will prove to be the worst economic crisis since the Second World War. It began with the slowing down of the housing industry back in 2006. As the subprime mortgage… Read More
Posted on January 27, 2008 by Nancy Liu | Category: Real Estate
Autumn is the season of harvest. It is also the annual property-tax season. If this is your first year of owning your newly purchased property, or if you own land, rental property or commercial property, you need to check the payment of every single property’s tax bill from your local county (or city, if the… Read More
Posted on January 27, 2008 by Nancy Liu | Category: Real Estate
When you sell your investment or rental properties to recoup the profits you retained through the years, do not forget to pay taxes on the capital gains. How can you minimize your tax liability? A program called 1031 Exchange will help you delay the tax payment. The 1031 Exchange was created in 1921 as part… Read More
Posted on January 27, 2008 by Nancy Liu | Category: Real Estate
There are two major regulations on real estate lending. One is the Real Estate Settlement Procedures Act, also called RESPA. The other is the Truth in Lending Act. 1. Real Estate Settlement Procedures Act (RESPA) In 1974, the United States Congress passed a consumer-protection statute called Real Estate Settlement Procedures Act (RESPA). The purpose… Read More
Posted on January 23, 2008 by Nancy Liu | Category: Real Estate
When a buyer purchases a property with a mortgage, the mortgage lender often requires the borrower to set up an escrow account with the lender. The purpose of an escrow account is to ensure that the borrower will pay the property’s property taxes and insurance premiums (hazardous insurance, or flood insurance, if any) on time. … Read More