scott alm's (scottalm) Blog

Before we start, let us give you one reason to not buy a new home right now. How long do you intend to live there? A rule of thumb is that it rarely makes sense to buy if you expect to move within two years. That's because when you do sell, there are costs associated with selling. We're not just ...

In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.[1] In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part o...

13 Reasons You Should Buy a Home in The Chicago Area, Now! 18th January 2008 Conventional wisdom says that this is an awful time to buy a new home. The housing market is in a funk. Mortgage companies have tightened their guidelines and homes are sitting on the market for months without selling. I...

Field Guide to Buying vs. Renting (Updated January 2008) In today's market, is it better to Buy or Rent? The information listed here will assist you in helping answer this question. Included are statistics and studies on homeowners and renters as well as financing options and tips. (M. Glick, Sr....

The NATIONAL ASSOCIATION OF REALTORS® Code of Ethics:What Does it Mean for Consumers?How does the Code of Ethics affect everyday real estate practices? If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to:1. Be honest with all parties in the tr...

HOUSING AND ECONOMIC RECOVERY ACT OF 2008 First‐time Homebuyer Tax Credit FEATURE H.R. 3221 Housing and Economic Recovery Act of 2008 Amount of Credit Ten percent of cost of home, not to exceed $7500 Eligible Property Any single‐family residence (including condos, co‐ops) that will be used as a ...

Every day I hear the same mantra from real estate agents and builders: Now is the time to buy a house. But is that really the case? It depends on your intentions. Agents say it's a good time to buy if you plan on staying in the home for at least three to five years. That's how long most industry ...