If you have recently filed for bankruptcy, a credit card is probably the last thing you want in your wallet. However, when it comes to repairing your damaged credit history, a credit card—used responsibly—can actually be one of your greatest allies. According to Investopedia, people often receive dozens of credit card offers within weeks of finalizing their bankruptcy. That’s because creditors know you can’t file for bankruptcy again for at least two to eight years. Most of these offers are for … [Read more...]
Top 10 IRS Tips for Choosing a Tax Preparer
December 29, 2014 by
With more than half of all taxpayers electing to have a tax preparer file their return, the IRS is weighing in on what people should consider when choosing tax preparation services. According to the federal tax authority, “Well-intentioned taxpayers can be misled by preparers who don’t understand taxes or who mislead people into taking credits or deductions they aren’t entitled to in order to increase their fee.” To help prevent taxpayers from getting duped, last week, the IRS shared 10 tips … [Read more...]
East Cleveland Considers Chapter 9 Bankruptcy
December 27, 2014 by
Distressed Illinois municipalities are not the only ones looking at Detroit and questioning whether bankruptcy is a viable option to help them turn things around financially. East Cleveland, Ohio has announced that bankruptcy may be its only option. According to Reuters, Ohio’s state auditor revealed this month that the city is insolvent and on the verge of collapse. Among a host of problems, cell phone service for the city’s workers was involuntarily disconnected recently because of the city’s … [Read more...]
Zillow’s “Coming Soon” Listings Have a Disappointing Start
December 26, 2014 by
Excitement about Zillow’s much-talked-about “coming soon” listings seems to have died as quickly as it started. According to Re/Max Legends Associate Broker Hank Bailey, one of the many issues with the new listing type is that buyers already have a lot of active listings to consider. Another problem Bailey cites in a new article forInman News, is that sellers and agents cannot properly market “coming soon” properties because they are not ready to photograph. “It might whet the buyers’ curiosity … [Read more...]
Upside Down Mortgages Becoming Less Common in Most Major Markets
December 21, 2014 by
The number of homeowners nationwide who owe more on their mortgage than their home is worth is down by more than 40 percent, according to Zillow’s latest negative-equity report. Since 2012, more than 7 million homeowners have been able to restore balance to their negative home equity through improvement of their home’s property value, short sale, foreclosure, or by paying down their mortgage balance. Despite this encouraging shift, however, approximately 8.7 million homeowners are still upside … [Read more...]
Trulia Survey Reveals Homebuyers’ Top Real Estate Regrets
December 20, 2014 by
Buying a house is one of the most exciting purchases a consumer will ever make. But unlike other high-dollar items that come with a no-hassle return policy, sale on homes are typically final. Making a hasty choice can leave a homeowner stuck in an uncomfortable living arrangement for years to come. Thankfully, a new Trulia survey seeks to help prospective buyers learn from the regrets of current homeowners. According to the survey, 52 percent of homeowners dislike something about the home they … [Read more...]
Shareholders Overwhelmingly Approve Zillow-Trulia Merger
December 19, 2014 by
A surprisingly high number of shareholders for both Zillow and Trulia voted yesterday to approve the much-anticipated merger between the two online real estate powerhouses. According to Housing Wire, more than 88 percent of Zillow shareholders and more than 79 percent of Trulia shareholders voted in favor of the proposed merger. Before the deal can be finalized it needs to jump one more hurdle: FTC approval. The earliest speculators say that will happen is Feb. 1. Read the entire article to … [Read more...]
Congress Temporarily Extends Expired Tax Breaks for 2014 Filing Season
December 18, 2014 by
Struggling homeowners, small businesses, and people who live in states without income tax will get to claim previously expired tax breaks again for 2014. Thanks to a last-minute fix from Congress this week, 54 expired tax breaks have been temporarily approved through the end of the year. President Obama will review the Congress-approved tax package and is expected to sign it to keep the tax breaks in effect into 2015 and beyond. One of the standout tax breaks in the package saves struggling … [Read more...]
Is Winter Really the Worst Time to Sell Your Home?
December 17, 2014 by
Popular opinion would have it that January through March is the worst time to put your home on the market. But, a new study released by tech-savvy real estate brokerage company Redfin seeks to put an end to that common myth. According to Inman News, the brokerage firm’s latest study reveals that homes have the best chance of selling in 90 days or less in the months of January, February and March. Homes put on the market in October and November had the lowest chance of selling within 90 days or … [Read more...]
What is the Average Real Estate Agent’s Take Home Pay?
December 16, 2014 by
With popular reality shows, like Bravo TV’s Millionaire Listing, glamorizing the big commission checks that top realtors receive, some home sellers have become even more disillusioned about the 6% fee they have to pay to sell their homes. But according to RIS Media, the average realtor in America only takes home about $38,000. In a recent video news update, the media outlet breaks down the commission fee to show what portion real estate agents actually take home after commission splits with … [Read more...]
