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Luxury Sales Bounce Back

For years, Jennifer Metz and her husband John yearned for a bigger home in San Francisco. Three months ago, the couple started looking, figuring that in this shaky economy, their $3 million budget should provide them a pick of attractive homes and accommodating sellers. They were wrong. Hours after seeing a 5,000-square-foot fixer-upper in Presidio Read More

Housing Won’t Be Derailed by End of U.S. Tax Credit, Agents Say

The expiration of a government tax credit yesterday may slow, rather than derail, a budding rebound in U.S. home sales being fueled by the drop property values, according to real-estate executives. “The meat and potatoes about the housing recovery and the reason to get out and buy a house now is affordability,” Jeffrey Detwiler, president Read More

Home Sales Expected To Rise 5.2 Percent In March In First Increase Since November

Home sales are expected to rise 5.2 percent in March, reversing three months of declines, as government incentives juiced the housing market and kicked off what’s expected to be a strong spring selling season. Economists polled by Thomson Reuters forecast the National Association of Realtors will say sales of previously occupied homes rose last month Read More

California Home Default Cases Plunge

The California foreclosure crisis appears to be abating, new data show, as the federal government and big lenders step up efforts to keep troubled borrowers in their homes. Mortgage default notices — the first step toward foreclosure — plunged 40.2% statewide in the first three months of the year compared with the same period in Read More

What Do Buyers Want In A Home? Survey Offers Clues

Home buyers tend to want it all, especially in this age of affordability, when prices and mortgage rates are low. But this also is the age of frugality, a time of economic uncertainty when many people are not as concerned about their next pay raise as they are about the next round of layoffs. So Read More

$18,000 In Combined Homebuyer Tax Credits For A Limited Time

Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits.  To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, Read More

Is California’s High-End Housing Market In Trouble?

While sales of low-priced foreclosed homes are sparking bidding wars in some areas and there’s talk of healing in California, a huge storm cloud hovers over the Golden state: the high-end real estate market. In California, delinquencies on jumbo mortgages, which are too large for government backing (and start at anywhere from $417,000 to $729,750) Read More

Bid to Curb Mortgage Tax Break Falters

The latest effort to scale back some tax deductions on mortgage interest, one of the nation’s most-enduring tax breaks, is finding little support in Congress. President Barack Obama’s latest budget proposal, released in February, includes a provision that would shrink deductions for mortgage interest, real-estate taxes, charitable contributions and other items for married couples with Read More

Good Real Estate News: Home Equity Is Rising Again

Is that some piece of rosy propaganda put out by housing lobbyists to stimulate more home buying? Not unless you consider Federal Reserve economists to be shills for the real estate industry. The Fed conducts massive research into mortgage balances and home-value changes in hundreds of local markets around the country and reports its findings Read More

Housing Momentum Builds but Perils Persist

There’s new evidence the housing market is healing after a four-year slump, but the danger of further price drops remains amid persistent job-market weakness, according to The Wall Street Journal’s quarterly housing survey. Inventories of homes listed for sale are down sharply across the U.S. and have reached very low levels in some areas, including Read More

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