Who doesn't like free money? But will the new home buyer tax-credit program help the real estate market? (Photo: iStockphoto)

President Barack Obama, as expected, signed a bill today that includes a home buyer tax credit that will give up to $8,000 to first-time buyers and up $6,500 to buyers who have owned their home for at least five years …Full Story

Vacation homes are becoming a burden for some owners. (Photo: iStockphoto)

There was a time when it seemed that everyone owned a vacation home -- or at least dreamed of owning one, anyway. Vacation homes were seen as cash cows that would reap easy money in quick appreciation, plus the added bonus that rental money would bring in.

Oh, how times have changed. These days, you could probably pick up a vacation home for a relative bargain, but not so many people are buying them these days -- at least compared to the heyday of the housing boom …Full Story

The bill to extend the tax credit for homebuyers is now on President Barack Obama's desk. (Photo: Associated Press/J. Scott Applewhite)

The bill to extend the $8,000 tax credit to first-time home buyers and open the program to move-up buyers easily cleared the House of Representatives by a 403-12 vote Thursday. The House vote came a day after the Senate passed the measure 98-0 …Full Story

A slow economy is making it easier to nail down a contractor for home improvement jobs these days. (Photo: iStockphoto)

If you haven’t done any remodeling yet this year, now may be the time. The Wall Street Journal reports that thanks to the economic downturn and slow housing market, homeowners are paying as much as 20 percent less for home improvement projects, compared to what the same projects would have cost them a few years ago …Full Story

With a simple handshake and an agreement to exchange services, you can improve your home without spending cash. (Photo: iStockphoto)

My fellow blogger, Heather Boerner, recently wrote a story for Cyberhomes about how in today's slow economy, some people are bartering for home services …Full Story

Like many of us, Whitney Houston is slashing her asking price to sell -- but she's cut more than $2 million.

Singer Whitney Houston may be on the comeback trail (click here to see the filming of her "Million Dollar Bill" video), but apparently, all isn't well in the pop star's world. The singer has put her 12,561-square-foot home in Mendham, N.J., on the market for $2.5 million -- significantly less than its assessed value of $5.6 million, according to published reports. Coldwell Banker Residential Brokerage has the listing …Full Story

The Federal Reserve may increase interest rates. (Susan Walsh/Associated Press)

Sometimes news with the biggest potential impact finds little interest. So, it wouldn’t be surprising that most of America took little, if any, notice that the U.S. Government has wrapped up its seven-month orgy of bond buying that totaled $3 billion.

So what does that have to do with mortgage interest rates? …Full Story

Want a bigger home? A new tax-credit proposal may help you afford one. (Photo: iStockphoto)

The Senate appears to have sifted through the myriad proposals to extend the First-Time Homebuyer Tax Credit and draft a program that will include those who have owned their home for at least five years …Full Story

We are still considering a property that has two units in disrepair.

Just when we were about to quit our search for a single-family house to purchase as an investment rental property, we may get another chance at a house we failed to get because we were too cautious in our bid. We have also decided to seriously consider another property that is significantly run down, but may offer the best opportunity for solid positive cash flow.

That’s the way it is when shopping for real estate, whether it’s buying a house you want to make a home or an investment property. Although I’m not sure how either of these properties will work out, I do know that we will take a hiatus from our search if we can’t close on one of them …Full Story

Two Los Angeles homeowners may get jail time for their fury over a failed home-loan modification. (Photo: iStockphoto)

It's been awhile since I've hung out in the real estate crime beat, but here we are again. I ran across this story recently about a couple in Los Angeles arrested on charges that they tortured two purported loan modification agents that they suspected of ripping them off. According to Reuters, Daniel Weston and Mary Ann Parmelee owned a house together that was in foreclosure. They had tried to get a loan modification, had been frustrated with the lack of results, and wanted their money back …Full Story