Thursday, March 31, 2011

6 real estate headlines: 31-Mar

A daily dose of headlines for real estate agents, mortgage lenders, homebuyers and home sellers.

What you can (and can't) deduct at tax time
: You must itemize your deductions on a Schedule A for these homeowners' deductions to apply. If you take the standard deduction, you can't take a deduction on mortgage interest.
NAR estimates shadow inventory by state
Mortgage News Daily
: The number of homes in the shadow inventory is not the problem. The difficulty lies in how long it will take before those homes are cleared.
Market for vacation homes on the rise
Wall Street Journal
: Sales of second homes are showing an uptick even in more-affordable communities. In some locations, prices are even inching upward.
Northern Virginia leading region out of recession
Sun Gazette
: George Mason University economist Stephen Fuller described the region's economic recovery during a presentation at the Northern Virginia Association of Realtors' office.
House votes to kill Obama mortgage plan
CNN Money
: The House voted 252 to 170 to stop any new funding for the Home Affordable Modification Program (HAMP). Eleven Democrats joined Republicans to defund the program.
South Florida buyers come out for real estate bargains
Miami Herald
: The real estate industry is opening the doors of thousands of Florida homes this weekend in an attempt to convince consumers that now is the time to buy.

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