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2019
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Eminent domain is a law that gives the federal, state, county, and municipal governments in the United States the legal right to "condemn" property and then seize it to allow its use for development. Eminent domain is supposed to be used by the government at the various levels to do things for th...
07/31/2019
The federal government adopted the Housing and Community Development Act in 1977, and the Community Reinvestment Act (CRA) portion was designed to prompt lending institutions to provide mortgages for low- and moderate-income Americans. The underlying reasoning for the CRA was to discourage discri...
07/31/2019
Last week's economic reports included readings on sales of new and pre-owned homes and weekly reports on mortgage rates and first-time jobless claims. Realtors® Report Sales of Pre-Owned Homes Fall in June Sales of previously-owned homes fell last month according to real estate pros. 5.27 million...
07/29/2019
Have you ever played the classic board game called Monopoly? The object of the game is to collect all the properties until one winner bankrupts all the other players. The other part of the game is that accumulating properties adjacent to each other increases the value of the individual properties...
07/25/2019
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A 1031 tax exchange is a legal way to defer paying capital gains when selling a property and then buying a "like-kind" property within the allowed period. The time limits allowed are 45 calendar days after the close of the sale of the first property to identify the like-kind property for acquisit...
07/24/2019
Last week's economic reporting included readings from the National Association of Home Builders Housing Market Index, Commerce Department reports on housing starts and building permits issued.The University of Michigan consumer sentiment index was also released. Weekly readings on mortgage rates ...
07/22/2019
Home Builder sentiment rose one point in July according to the National Association of Home Builders Housing Market Index. 2019 builder confidence in housing market condition continued to fall short of 2018 levels. July's Housing Market Index reading of 65 was one point higher than June's reading...
07/17/2019
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A hot market in real estate is identified by a few things, which include higher prices, lower amounts of unsold inventory, and desirable neighborhoods. Neighborhoods can increase in value because of having an excellent location, high-paying jobs, quality schools, and a variety of attractive ameni...
07/16/2019
Last week's economic releases included reports on inflation, core inflation and minutes from the Federal Open Market Committee Meeting held June 18 and 19. Weekly readings on mortgage rates and first-time jobless claims were also released.Inflation Rate Rises, but Grows at Lowest Pace in Four Mon...
07/15/2019
An estate sale is the sale of the property owned by a person after a person dies. This sale may include real property, such as a home, and personal property, such as the home's contents.There are two ways to buy property through an estate sale. One way is to buy it from the person who inherited t...
07/11/2019
Rainmaker
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Bob Elliot
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