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What happens when you walk away from your mortgage?

What happens when you walk away from your mortgage?

If you have ever found yourself struggling to pay the mortgage or know someone who has, the question of “What would actually happen if I just stopped paying my mortgage?” probably has come across your mind. While walking away from a mortgage should be avoided at all costs, there are a growing number of homeowners […]

Top Ten tax tips for home sellers (from the IRS)

Top Ten tax tips for home sellers (from the IRS)

Courtesy of the friendly neighborhood tax collecting organization we all love (you love the IRS right?), comes the top ten most important issues for any home seller to consider. While most of these probably won’t apply to a majority of you, they fairly helpful nonetheless. via Inman News

“Notice of Intended Sale” filing a must

“Notice of Intended Sale” filing a must

If you are a real estate investor in the State of Missouri who rehabs homes for resale, read carefully.  As of November 1, 2010, if you will be performing any significant renovation work on a property for the purpose of resale, you will need to file an official notice in recognition of this fact. Specifically, […]

Fannie and Freddie to be phased out?

Already bailed out with public funds to the tune of $134 billion, mortgage giants Fannie Mae and Freddie Mac might soon be facing some major changes. Today, the White House unveiled a proposal, which spells out a plan to gradually “wind down” Fannie and Freddie until they are completely phased out. But while the news that the […]

HUD policies pushing out investors?

Following the blueprint set by Fannie Mae in late 2009, the United States Department of Housing and Urban Development (HUD) appears to be further stacking the deck against real estate investors. While in the process of restructuring the way they sell their foreclosed property inventory, HUD has taken the opportunity to shift the bidding advantage […]

Minimizing tax burdens via 1031 Exchange

In this market of tight budgets and shrinking profit margins, minimizing your expenses when selling a property is essential.  Upon closing a real estate sale, any unsheltered capital gains will be subject to significant taxation, which can take a bite out of your profits. One way for a real estate investor to avoid this problem is […]

Bank of America restarts foreclosures

After a roughly two-month hiatus, Bank of America is restarting foreclosure proceedings on 16,000 homes across the United States. Wells Fargo also appears to be revving things up on the foreclosure front again as well. Foreclosure inventories have taken a noticeable dive in recent months so hopefully this move will provide some quality real estate products as […]

Stop real estate transfer taxes in Missouri

On November 2, 2010, Missouri voters will have a chance to put the matter of a transfer tax on homes and all other real estate transactions in the state to rest. While 37 other states, as well as the District of Columbia. These tax rates range from Colorado on the low-end at 0.01% to Delaware […]

Banks halting foreclosures

It looks like the controversy over improper foreclosure processing is spreading. After initially halting foreclosures in 23 states, Bank of America has announced it was halting foreclosure in all 50 states as of today. Under pressure from federal officials, Bank of America, JP Morgan, PNC Financial, and GMAC Mortgage have all at least cut back […]

Eighteen Investments in trouble?

Rumors have been circulating lately that real estate developer Eighteen Investments, and their real estate brokerage arm Bellington Realty, have hit hard times. They had been short selling a few buildings, including one I have reported on at 3155 Gustine, but nobody really seemed to know how deep the problem went. Until the St. Louis […]

Waterless urinal red tape

Wired Magazine had an interesting article last month about the bureaucratic nightmare of getting waterless urinals into buildings around the country. Seems like the debate comes down more to plumbers losing business and janitors not wanting to clean them than if they work properly. Its an interesting read for both the technology and the familiar […]

Bye bye $8000 first-time homebuyer credit

And the $8,000 first-time homebuyer credit goes off into the sunset. With April 30th come and gone, if you don’t have a property under contract, you’re out of luck on receiving the credit.  Technically, the credit continues until June 30th, but properties need to be under contract NOW. Many in the real estate industry seem […]

Further proof the current real estate market is crazy

Last month, I posted  a story about how the contract on my rehab project at 3969 Humphrey fell through due to under-appraisal. It somehow appraised at $101,000. Thankfully, everyone but that appraiser thought the number to be totally off and I had it back under contract within a few days. Actually closing on the property […]

Understanding cap rates

When determining whether or not a property is worth purchasing, one of the traditional reference points is the cap rate. For real estate, a cap rate is the ratio between the yearly net operating income of a building to the cost of that building. The higher that number is, the better the deal. When determining […]