CNN money- 8 Reasons to Remodel

8 reasons to invest in your home

By Josh Garskof, contributorJanuary 25, 2011: 5:30 PM ET
(MONEY Magazine) -- Not long ago, you could have your big remodeling project and get your money back too. Owners recouped an average of 87% of home improvement costs at resale in 2005, according to Remodeling magazine.

But by 2010 the magazine had pegged the typical payback at just 60%. Hardly the right time to tackle the new kitchen or master bathroom you've been dreaming of, right?

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Today Show Video- "Today's Real Estate"

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Parents who invest in a child's mortgage- Life Inc.

By Will Springer, editor for msnbc.com
Should parents help a family member pay for a new home? Financially and emotionally, it can be a great investment - but at what price? Getting a mortgage can be difficult in perfect economic conditions, but trying to gather enough money to buy that new home can be quite the challenge when banks have tightened lending standards.  "If the child is going to the parent in the first place (for a loan), it's often because they don't qualify with a bank," says Barbara Corcoran, TODAY's real estate expert. "If they don't qualify with a bank, there's a reason for that. The parent is assuming a great deal of financial risk." What happens if the new homeowner cannot cover the monthly mortgage? The parent is on the hook. The key is whether the individual can afford the loan and repay it on time, Barbara says. CLICK HERE for full article & video

CNN money Reports- 1 million homes reposessed in 2010

1 million homes repossessed in 2010

By Les Christie, staff writer--January 13, 2011: 10:05 AM ET

NEW YORK (CNNMoney) -- Foreclosures were at a record high in 2010, and more than 1 million people lost their homes, even as notices started leveling off during the end year.
In total, there were nearly 2.9 million foreclosure notices filed during the year, according to report released Thursday by RealtyTrac. That was a record high, but just 1.7% above 2009.

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Rent Vs Own - What to do in 2011?

Many Americans are content to rent after witnessing the crumbling housing market in recent years. But with rents on the rise and home prices continuing to fall, a reversal is in sight.



It wasn't hard for many homeowners to bid adieu to 2010. It was the year where, in many metropolitan areas across the country, rents surged as home prices fell, leading a growing chorus of skeptics to question the so-called American Dream of homeownership.
Perhaps not surprisingly, it makes more financial sense to rent than buy today in many U.S. cities, according to the latest data from Moody's Analytics. After declining during the depths of the latest recession, prices for rentals nationwide increased modestly by about 3% in 2010, partly driven by a record number of homeowners looking for new digs after foreclosing on their homes. In Moody's latest list of rent ratios (which is the price of a typical home divided by the annual cost of renting that home) for 54 U.S. metropolitan areas, 39 fell into the 'better to rent' category -- roughly the same level it's been for the past year.
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Loudoun County assists Buyers looking for foreclosures

Real Estate Program Booming in Loudoun County

 By John Schriffen

A new program allows people to buy foreclosed homes, fix them up and sell them for a fraction of the cost.

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Mortgage rates dip after weeks of rising

NEW YORK — Rates on fixed mortgages dipped this week after rising steadily over the last two months.
Freddie Mac said Thursday the average rate on the 30-year mortgage dropped to 4.77 percent from 4.86 percent the previous week. It hit a 40-year low of 4.17 percent in November.
The average rate on the 15-year loan slipped to 4.13 percent from 4.20 percent. It reached 3.57 percent in November, the lowest level on records starting in 1991. Rates have been rising since November. Investors have shifted money out of Treasurys and into stocks. Many expect the tax-cut plan will fuel economic growth and increase inflation. Yields tend to rise on inflation fears.

Mortgage rates tend to track the yield on the 10-year Treasury note. Those rates have been fluctuating in recent weeks.
Low mortgage rates did little to boost home sales last year and higher rates now could hamper a robust recovery.