Is owning a home a strong financial decision?… of course it is. Yes, the market it cyclical and sometimes the investment into a home is better than others but KeepingCurrentMatters lays out numerous great reasons to why

Homeownership a Good FINANCIAL Decision!
Posted: 13 Feb 2013 04:00 AM PST
Many have reported on Robert Shiller’s recent comments on the investment aspect of homeownership. Shiller, a Yale professor and co-founder of the Case-Shiller Home Price Index, is famous for making provocative comments on house prices and the financial benefits of owning a home. In a recent Bloomberg Television interview, Shiller responded to a question about homeownership as an investment this way:
“So, why was it considered an investment? That was a fad. That was an idea that took hold in the early 2000′s. And I don’t expect it to come back. Not with the same force. So people might just decide, ‘Yeah, I’ll diversify my portfoli. ...

On Jan. 1 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff.” The bill was signed into law by President Barack Obama on Jan. 2.
Below is a summary of real estate related provisions in the bill:
Real Estate Tax Extenders

-Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014
-Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
-15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012
-10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012

 
Permanent Repeal of Pease Limitations for 99% of Taxpayers
Under the agreement so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers b; ...

With the presidential election now less than a month away, many questions are on the minds of the American people ready to cast their votes.  As an orange county real estate professional,  I am starting to see the local market taking a turn for the better.  I wondered what impact this election could have on markets around the country depending on who wins.
“The next president, whoever it turns out to be, is going to have a couple of big housing issues to address,” Barry Zigas, director of housing policy at the Consumer Federation of America, told The Washington Post.  For example, “What is the government’s role in housing finance, and will consumers have access to mortgages at affordable rates?”
Neither candidate so far has outlined a specific proposal for the housing market or mortgage lending. However, if re-elected, President Obama is expected to continue adding to his existing programs, such as in foreclosure relief, loan modificatir ...