When I learned last week that the Governor's proposed budget for fiscal year 2008 includes a retroactive cap on the Historic Tax Credits, I was not very happy. The program supplies tax credits worth 30% of construction costs and while it is true that the state loses in tax revenue, it also creates economic output through new jobs, [...]

In the long run, the value of Real Estate will always go up, but the day to day, especially these days, can be pretty scary. If you are in the market today, you are aware of market psychology and its role in the current downturn. As with everything else, knowledge is power; a better understanding of the market is the key to turning bad [...]

Freddie Mac reported last Thursday that 30-year, fixed-rate mortgages averaged 5.69 percent, marking the second week that 30-year mortgages have been below 6 percent and the third week that rates dropped. This week's average was the lowest since the week of July 14, 2005 when the 30-year mortgages were at 5.66 percent. So, with interest [...]

Did you feel like you were living in the mall this holiday season? My final guests of the year, Michael Townsend and Adriana Yoto, along with 6 others, did just that. These 8 artists lived in their 750 square foot apartment, complete with an entertainment system, off and on for 4 years until they were caught by mall security last fall. When [...]

Is the big news this week the subprime rate freeze plan announced by the Bush administration? Or is it another political red herring? At first glance, it sounds really good, but let's look a little further into the [...]

While there is still a lot of bad news to report in the housing sector, there is a lot of good news too that is buried on page 70 or not reported at all. Today for example, there was an article in an area paper about how many State's pension funds have taken a hit from the subprime fallout. Following the loses in the [...]

I hope you all had a great Thanksgiving, despite the news that Rhode Island's foreclosure rate during the second quarter of this year was the highest in New England, there is still a lot to be thankful for. In order to provide more resources and options to the thousands of people in crisis, [...]

Many of the richest people in the world have earned their wealth through real estate,  it is estimated that 80 percent of the world's wealth is held in real estate and is owned by less than 20 percent of the population Everyone wants to  retire comfortably and most of us have IRAs that typically invest in stocks and bonds. But a  [...]

According to the National Association of Realtors more than 40 percent of all home purchases are first-time buyers. Are you thinking about buying a house but are frightened by the National news headlines? Thanks in part to the media, a lot of people are terribly misinformed about the real estate market. Many of the [...]

Tenants nationwide who did nothing wrong except to rent from a defaulting owner are suffering from the mortgage fallout as well. In most states, foreclosure voids leases and banks move quickly to get tenants out. Banks traditionally press renters to leave quickly so that they can resell the property. Depending upon the state, tenants get [...]