Posts under ‘Law’

Thanks to Susan O’Driscol of Princeton Capitol for this update today. “The FHA announced changes to its guidelines yesterday. It will raise the minimum down payment required for borrowers with credit rating scores below 580 to 10%, while the down payment for higher-ranked borrowers would stay at 3.5%. The up-front MI premium is also going [...]

Rick has given us the update on the possibility of extending the tax credit.  Also check the market news from last week for the coast and San Mateo County. “There’s no question that the government’s first-time homebuyer tax credit has spurred a significant amount of sales this year.  Latest estimates show that some 400,000 additional [...]

The question everyone is asking is, will the government expand, extend or simply let the $8,000 first time home buyer tax credit expire. With just over 50 days left until it is expires, the debate is on and everyone is anxiously awaiting the result. Whichever side you take on the debate, what you can’t deny [...]

Just received this information from Rick Turley, Coldwell Banker Residential Brokerage President, San Francisco Bay Area.  We hope that the suggestions that Realogy President, Richard Smith made, are taken to heart.  Glad to be a part of a company that is working hard for the American consumer, which means you and me. This week Realogy [...]

We were all hoping that President Obama would put the conforming loan limit cap back to $729,750.  Hooray!!  We have several clients where this will make a huge difference to them on what they can afford.  Let’s hope that this one move is a stimulus to the housing market and that the first time home [...]

If you frequently buy and sell property, this is something you need to know.  The Housing and Economic Recovery Act of 2008 includes important changes to the Capital Gains Exclusion Rule. What does this mean for frequent homesellers? In the past, homesellers could claim $250,000 of home sale profits tax-free ($500,000 if filing jointly) provided [...]