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Commercial realtors can expect good things in 2015 according to a new report inThe Wall Street Journal. Job growth and low housing inventory are two of the top factors driving the favorable prediction. In a recent article, Lawrence Yun, chief economist at the National Association of Realtors, speculates that the current trend suggests that the commercial real estate market will continue to see an increased demand for commercial real estate leasing, new commercial construction, and multi-family … [Read more...]

If you are looking to get a jumpstart on your tax planning, a new Motley Fool article provides an excellent guide to the three most significant changes you will want to keep in mind when preparing your tax return. One of the major considerations for most taxpayers is the new tax penalty that comes with not having “minimum essential” health insurance coverage. That penalty–which works out to be the greater of 1% of annual income (above the tax filing threshold) or $95 per adult and $47.50 per … [Read more...]

According to Fortune magazine, Chicago is now leading the way in attracting global businesses. Fortune 500 companies nationwide are abandoning their large suburban campuses in search of commercial real estate in downtown Chicago. Among the latest arrivals are United Airlines, General Electric’s transportation division, Hillshire Brands, and Archer Daniels Midland. The article cites better access to a talented workforce as one of the major draws of Chicago. The city’s easily accessible … [Read more...]

What’s in store for the real estate market in 2015? Freddie Mac is making five predictions for the upcoming year that will be good news to some and bad news for others. Among the bad news for those looking to purchase a home in 2015 is the prediction that interest rates for 30-year fixed-rate mortgages will likely increase to as high as 5 percent by the end of 2015. This year, homebuyers enjoyed rates that sank below 4 percent according to Realtor Magazine. The good news is that construction on … [Read more...]

If you became a parent for the first time in 2014, there are several tax perks you can look forward to this tax filing season. According to a recent Daily Financearticle, parents with dependent children get better credits and deductions than most other groups of taxpayers. Among the top tax breaks that come with parenthood is a $1,000 tax credit for each child that is under the age of 16. In addition to a tax credit just for having a child, parents can receive a tax credit of up to $6,000 for … [Read more...]

Most federal appeals courts are refusing to allow homeowners to forfeit their second mortgage debt when they file for bankruptcy. But, the 11th U.S. Circuit Court of Appeals, which has jurisdiction in Alabama, Florida, and Georgia has allowed homeowners to eliminate their second mortgage in cases where the value of their home has fallen below what they owe on their first mortgage. Bank of America’s appeal to the Supreme Court seeks to overturn this practice. According to the Wall Street Journal, … [Read more...]

It’s never fun to file your taxes, but the IRS is predicting 2015 to be one of the most difficult filing seasons in nearly 30 years.  A new Forbes article shares five key reasons why the 2015 filing season may be particularly challenging for both taxpayers and IRS staff.  One of the biggest contributing factors to the anticipated troubles is IRS budget woes, which have impacted staffing. Taxpayers calling to speak with a tax representative can expect to be on hold for an average of 34 minutes … [Read more...]

It is not unusual for foreclosures to increase in October as banks try to clean house before the holiday season.  However, the latest RealtyTrac foreclosure report shows that, even for October, foreclosures have increased month-to-month for the last two months at a rate that some say proves the housing market is getting worse not better. According to a new article by Housing Wire, the average increase in foreclosures for October was 8 percent over the past three years. This October, it was 15 … [Read more...]

A Wisconsin woman had enough on her plate when she suffered a heart attack at the age of 29. But, paramedics unknowingly added insult to injury by taking the unconscious victim to a hospital that was not covered by her insurance. After spending 10 days in a medically induced coma, young Megan Rothbauer woke up to hospital bills totaling $250,000. Had paramedics taken her to a hospital just three blocks from where she was admitted, her portion of the bill would have only amounted to $1,500. While … [Read more...]

Despite brick-and-mortar retailers pushing for it, Congress will not pass an Internet sales tax in the near future according to a new article by Time. The proposed Marketplace Fairness Act would have allowed states to tax online purchases made by their residents regardless of whether or not the online retailer resided in the same state. The bill, which passed last year in a primarily Democrat-controlled Senate, never gained support in the Republican-controlled House and has been tabled for the … [Read more...]