WeGotLand Blog

Republicans took control of the House of Representatives last week and have vowed to end the government’s involvement in the $11 trillion U.S. residential mortgage market.

While they are likely to fall somewhat short of that lofty campaign promise, some tightening of home-loan terms is all but certain in the next few years as the government pulls back its support for the largest housing market in the world.

The plan Treasury Secretary Timothy Geithner is expected to unveil will be the next step in a debate over the future of Fannie Mae and … Continue Reading

Nation’s Building News
The Official Online Newspaper of NAHB

Health Care Tax Changes to Have Little Impact on Principal Residence Sellers

Among the many policy changes in the recently enacted health care legislation (click here, for a story in the April 5 NBN), builders and the residential construction industry should be aware of two tax policy changes in particular:

• New Tax on Capital Income

  Set to take effect in 2013, a tax increase on capital income — such as capital gain and rents — will affect some real estate investments. However, it should have a negligible impact on sellers of principal residences.

  The … Continue Reading

Hope you are well this evening! What an interesting weekend this has been with crazy weather and crazy misinformation (half truths) going around the local real estate industry.

Well – let’s try and set the information straight so you can help dispell the rumors with real information.

First, there are ALOT of new taxes in the Healthcare Bill . . . how else will the new coverage be paid for?? We are not tax experts and with the complexity of the law, we need to refer our clients to their CPA or tax advisors. But for now, here is my take on … Continue Reading

What a Difference when you give the power to the people.  Once we joined WeGotLand.com, we have had substantially more traffic in our neighborhoods and have gained more contact with out of town buyers who can now visit and compare neighborhoods online before ever coming to visit them.  We can shoot them linkes to neighborhoods they might like and they can research other neighborhoods as well.  The buyers prefer to do their home work anyway and we are there when they need us.  We put forth a little effort gathering information and the home buyer compares neighborhoods and homes and contacts us … Continue Reading

NAHB Answers How to Pay Upfront Costs With Tax Credit

NAHB is providing answers to frequently asked questions from prospective first-time home buyers who qualify for the $8,000 tax credit and are seeking information on how they can get a loan to help cover downpayment or closing costs.

The U.S. Department of Housing and Urban Development announced on May 29 that the Federal Housing Administration will allow state housing finance agencies to provide second mortgages “monetizing” the tax credit so that borrowers can use the funds for upfront costs for the purchase of homes with FHA-insured mortgage loans.

“This is great … Continue Reading

WeGotLand is the most detailed neighborhood directory on the internet today.  We Got Land has photos of neigbhorhood amenities, photos of new  homes in those neighborhoods and plats of the neighborhood to seek out your favorite building lot for your new home.  Virtually view the neighborhood before you ever go to see it.  Compare up to 3 neighborhoods at  time to help choose the one that is right for you.  Compare up to 3 new  homes or building lots at a time to see the advantages and disadvantages of each side by side.  Check demographics, climate and school information for … Continue Reading

1031 Exchange – The intelligent way for real estate buyers
Section 1031 of the Internal Revenue Code (IRC) offers real estate buyers a golden opportunity by means of significant tax advantage. Section 1031 of the IRC gives a chance to real estate buyers to defer the capital gain taxes that they incur by selling a property. It states, a real property owner can sell his property and then reinvest the proceeds to purchase of like-kind property and defer the capital gain taxes. However, to qualify for 1031 like kind property exchange aka, 1031 tax deferred exchange and gain tax … Continue Reading

You’re Only 11 Steps Away From Buying a Home
A Step By Step Look at Home Buying
The specific way you progress through a home buying transaction varies depending on the real estate laws and customs where you live, but there are many home buying steps that are standard, even though they might not be accomplished in the same order in every location.
You’ll feel more confident about your home buying journey when you understand what is required of you and every other person who is involved in the transaction. This guide takes you through it, and shows you that you’re only 11 … Continue Reading

NAHB is providing answers to frequently asked questions from prospective first-time home buyers who qualify for the $8,000 tax credit and are seeking information on how they can get a loan to help cover downpayment or closing costs.

The U.S. Department of Housing and Urban Development announced on May 29 that the Federal Housing Administration will allow state housing finance agencies to provide second mortgages “monetizing” the tax credit so that borrowers can use the funds for upfront costs for the purchase of homes with FHA-insured mortgage loans.

“This is great news for thousands of families who want to take advantage of … Continue Reading