Rent or Buy?
Go out and buy a home. Owning a home you can afford certainly beats paying rent forever. Don't worry about the market going down. The market will go back up. It always does. This is the third time we have seen this cycle since 1980. Get a home you'll love to live in. Fix it up the way you like. If the home is affordable and the payments (loan, insurance, property tax) are not more than 25% higher than your rent, you're at least breaking even. In long run, you will be building equity.
The pros and cons of the first-time home buyer tax credit.
LOS ANGELES (MarketWatch) -- Did you hear the one about the tax pro who took the first-time home buyer credit on his client's 2008 return -- although the client hasn't bought the house yet? Believe it or not, the taxpayer has already received the refund.
Five reasons to buy a home this year
Affordability returns to housing, and buyers have loads of negotiating power.
If you're qualified to buy a home now, the purchase makes sense for your situation and you're prepared to live in that home for at least five years, there are five reasons why you may be headed for a great deal:
If you're qualified to buy a home now, the purchase makes sense for your situation and you're prepared to live in that home for at least five years, there are five reasons why you may be headed for a great deal:
Rental Property in a Buyer’s Market
Would you buy a rental property? Today’s buyer’s market is a great opportunity to do this, but check these three things first:
1. Do you have enough reserves to pay both mortgages without a renter? I usually recommend that you have enough to afford the house for six months without rental income. This will make sure you have time for any necessary home improvements, and to survive in case finding a renter is hard.
2. Do you have patience? Owning a rental is a lucrative investment—but it’s going to take a lot of work, time, and money at the outset. Don’t start renting at a time when you’re expecting big life changes or a busy career time.
3. Do you have a REALTOR®? Renting can be even more complicated than selling your home. You’re going to want an experienced local real estate professional to help you organize things. He or she can also advise you on how long you can expect to wait before finding a renter.
1. Do you have enough reserves to pay both mortgages without a renter? I usually recommend that you have enough to afford the house for six months without rental income. This will make sure you have time for any necessary home improvements, and to survive in case finding a renter is hard.
2. Do you have patience? Owning a rental is a lucrative investment—but it’s going to take a lot of work, time, and money at the outset. Don’t start renting at a time when you’re expecting big life changes or a busy career time.
3. Do you have a REALTOR®? Renting can be even more complicated than selling your home. You’re going to want an experienced local real estate professional to help you organize things. He or she can also advise you on how long you can expect to wait before finding a renter.
Texas was top in job growth last year
According to a recent analysis by bizjournals.com,five Texas cities ranked among the top ten, with three securing the top three spots.
Houston added 57,300 jobs in 2008, giving it the best year of any U.S. market. Dallas–Fort Worth was next with 43,300 additional jobs, then San Antonio, which was up by 14,900 jobs.
Austin ranked fifth with 9,600 jobs added, and El Paso’s 5,300 additional jobs landed the city at ninth.
Bizjournals.com examines markets that have at least 250,000 nonfarm jobs and compares employment figures for the final month of the past two years. Seventy-two of the 88 markets studied suffered declines in employment in 2008.
Houston added 57,300 jobs in 2008, giving it the best year of any U.S. market. Dallas–Fort Worth was next with 43,300 additional jobs, then San Antonio, which was up by 14,900 jobs.
Austin ranked fifth with 9,600 jobs added, and El Paso’s 5,300 additional jobs landed the city at ninth.
Bizjournals.com examines markets that have at least 250,000 nonfarm jobs and compares employment figures for the final month of the past two years. Seventy-two of the 88 markets studied suffered declines in employment in 2008.
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