Real Estate Update

What Everybody Ought to Know About The Fiscal Cliff

President Obama has another four years, and there is a good probability that bipartisan cooperation will prevent the economy from going over the federal budget fiscal cliff. The current presumption is that the politicos do not want a replay of Thelma and Louise. There will likely still be some brinksmanship. but it is most probable that some agreement will be reached. The economy will be enabled to breathe more comfortably and move to a growth rate in GDP of about 2 percent for the rest of 2012... read more

What Everybody Ought to Know About Reverse Mortgages

Financial calamities have been perpetuated upon citizens all over the world for most of history. There was the tulip frenzy in Holland in 1637, the United States bank panic of 1907. The Great Depression of 1929 required ten years before the economy rebounded. Recently there have been such debacles as Lehmann Bros, Merrill Lynch, Countrywide Financial as well Bernie Maddoff, and then the Great Housing Bubble followed by the Great Recession of 2008 which has very long legs still stretching out as... read more

The Facts on the Impact of the 3.8 Tax on Real Estate

There has been a lot of discussion and especially misinformation about the 3.8% tax which is a component of the Affordable Health Care Act. The following information will clarify the issue. The tax will have a very minor impact, if any, on most home sales. Top Ten Things You Need to Know About the 3.8% Tax Published by the National Association of Realtors   1) When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you... read more

If You Don't Try Real Estate Housing, You'll Hate Yourself Later

Tom Bothen is a guest blogger on real estate news for the UIC Liautaud Loop. He is the associate director of the Center for Urban Real Estate at the University of Illinois at Chicago. Bothen is an instructor teaching undergraduate and graduate real estate finance courses, and he is also the director of the Masters of Arts in Real Estate program at UIC. Follow Bothen's blog this fall for all the latest in real estate industry updates and... read more