DailyFinance.comhttp://www.dailyfinance.comDailyFinance.comhttp://o.aolcdn.com/os/df/2013/img/2-dailyfinance_logo_m.pngDailyFinance.comhttp://www.dailyfinance.comen-usCopyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only.Blogsmith http://www.blogsmith.com/10 Best Places to Buy a Home in 2011http://www.dailyfinance.com/2010/12/31/10-best-places-to-buy-a-home-in-2011/http://www.dailyfinance.com/2010/12/31/10-best-places-to-buy-a-home-in-2011/http://www.dailyfinance.com/2010/12/31/10-best-places-to-buy-a-home-in-2011/#commentsFiled under:

Austin Texas skyline Best places to retireLast decade's bipolar housing market is over. The ups, the downs, the thrills, the spills -- largely behind us. Yes, prices and sales are stuck in neutral in large swaths of the country.

But let's ring in the new decade optimistically, with Walletpop's Top 10 List of the Best Places to Buy a Home in 2011. This mostly unscientific and partially-biased list is based on a grab-bag of lifestyle priorities and, yes, thorough reporting.

Here we go, in no particular order:

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]]>affordable housingBest cities for housingbest cities to live inhome pricesDiane WednerFri, 31 Dec 2010 09:00:00 ESTDisappointing U.S. Job Growth; Jobless Rate Up to 9.8%http://www.dailyfinance.com/2010/12/03/disappointing-u-s-job-growth-jobless-rate-up-to-9-8/http://www.dailyfinance.com/2010/12/03/disappointing-u-s-job-growth-jobless-rate-up-to-9-8/http://www.dailyfinance.com/2010/12/03/disappointing-u-s-job-growth-jobless-rate-up-to-9-8/#commentsFiled under: , , , ,

person looking at jobs flierJust in time for the holidays, more lousy news on the jobs front: The U.S. economy added only a tepid 39,000 jobs in November, far fewer than expected, while the unemployment rate rose to 9.8%, the Department of Labor reports today. That rate is up from 9.6%.

Today's report is a far, and disappointing, cry from the 150,000 jobs forecast by analysts. And a steep decline from the 172,000 jobs created in October.

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]]>jobsNovember Employmentrecessionunemploymentunemployment rateDiane WednerFri, 03 Dec 2010 12:56:00 ESTV.A. Home Loans a Good Deal for Veteranshttp://www.dailyfinance.com/2010/11/24/v-a-home-loans-a-good-deal-for-veterans/http://www.dailyfinance.com/2010/11/24/v-a-home-loans-a-good-deal-for-veterans/http://www.dailyfinance.com/2010/11/24/v-a-home-loans-a-good-deal-for-veterans/#commentsFiled under:

Veteran returning home from Iraq hugs wifeIn a housing market convulsed by tight credit, flattened prices and weak home sales, there is a silver lining for one segment of the market: U.S. military veterans seeking V.A. home loans.

Most honorably discharged veterans are eligible for Department of Veteran Affairs home loans. What's the appeal? Even borrowers with no down payment or a less-than-ideal credit score can qualify. Veterans can borrow up to $417,000 (or more if the buyer lives in a county with higher average home costs.). Borrowers pay no private mortgage insurance. The V.A. sets limits on closing costs and origination and appraisal fees. All in all, it makes for getting a leg up in a market where lenders have clamped down hard.

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]]>Department of Veterans Affairsreal estateVA loansVA mortgagesVeterans Administrationveterans housingDiane WednerWed, 24 Nov 2010 13:00:00 ESTMortgage interest tax deduction back in the cross-hairs as deficit soarshttp://www.dailyfinance.com/2010/11/08/mortgage-interest-tax-deduction-back-in-the-cross-hairs-as-defic/http://www.dailyfinance.com/2010/11/08/mortgage-interest-tax-deduction-back-in-the-cross-hairs-as-defic/http://www.dailyfinance.com/2010/11/08/mortgage-interest-tax-deduction-back-in-the-cross-hairs-as-defic/#commentsFiled under: ,

a nice middle class homeHistorically, buying a home has been advantageous for both owners and the country at large. Long considered the engine that drives the American economy, home ownership brings huge rewards to banks, mortgage companies and builders, and the building industry provides tons of jobs.

Home ownership also has benefited the regular guy since 1913, when owners first were allowed to deduct the interest on their mortgages from their income taxes.

As the country seeks new ways to wrangle the escalating national deficit, however, the mortgage-interest tax deduction has come into the target sights of economists, some of whom see it as a huge drain on the federal Treasury. As it has in times past, the notion of ending that tax break has whipped up a frenzy among the parties most invested in such a proposal.

Thomas Hoenig, president of the Federal Reserve of Kansas City, floated the idea -- often referred to as a "third rail" topic among homeowners, real estate agents and politicians -- at the annual National Assn. of Realtors confab in New Orleans on Friday. The man was lucky to have escaped with his head on.

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]]>federal deficitFederal Reservemortgage interest deductionNARreal estateDiane WednerMon, 08 Nov 2010 17:45:00 ESTIs the American Dream dying? Number of home-owning Americans dropshttp://www.dailyfinance.com/2010/11/04/is-the-american-dream-dying-number-of-home-owning-americans-dro/http://www.dailyfinance.com/2010/11/04/is-the-american-dream-dying-number-of-home-owning-americans-dro/http://www.dailyfinance.com/2010/11/04/is-the-american-dream-dying-number-of-home-owning-americans-dro/#commentsFiled under: ,

a half-built home backlit by sunsetThe American dream of homeownership is slipping further away, as the country's economic woes drag on. Almost 3 million fewer Americans own homes today, according to a U.S. Census Bureau report, compared with the peak in the first quarter of 2005, when 69.1% owned homes.

The reason for the deterioration? Exactly what you'd expect.

"The record foreclosure rate has thrown countless Americans out of homeownership, while high unemployment is preventing many from getting in the door," says Andrew LePage, an analyst at San Diego-based MDA DataQuick, a real estate information company.

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]]>American Dreamhome ownershipDiane WednerThu, 04 Nov 2010 12:00:00 ESTTop five reasons to purchase a home nowhttp://www.dailyfinance.com/2010/10/21/top-five-reasons-to-purchase-a-home-now/http://www.dailyfinance.com/2010/10/21/top-five-reasons-to-purchase-a-home-now/http://www.dailyfinance.com/2010/10/21/top-five-reasons-to-purchase-a-home-now/#commentsFiled under: , ,

Homes for salesBuyers still waiting for home prices to scrape rock bottom (hint: they will never return to1953 levels) or interest rates to hit zero (I know, it feels like they're headed there) might want to consider that conditions for buying a home are better today than at any time in recent memory.

The following are five reasons to consider a home purchase now:

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]]>buying a homehome ownershiphomeowner tax breaksinterest ratesreal estatereasons to buy a hometax breaksDiane WednerThu, 21 Oct 2010 08:00:00 ESTFire season: Time to take inventory of your home's possessionshttp://www.dailyfinance.com/2010/10/12/fire-season-time-to-inventory-home-possessions/http://www.dailyfinance.com/2010/10/12/fire-season-time-to-inventory-home-possessions/http://www.dailyfinance.com/2010/10/12/fire-season-time-to-inventory-home-possessions/#commentsFiled under: ,

burnt down house with embersOctober heralds the onset of fall, bringing burnished leaves and cooler temperatures. It also is the beginning of fire season in Southern California and other parts of the Southwest (although fire season seems to be a year-round event now).

Insurance experts say this is the time to take an inventory of the contents of your home -- from cell phones to toaster ovens -- with a moving or still camera. After every item is accounted for, store the recording -- as well as irreplaceable personal property, like photo negatives and important documents -- off-property, in a safe-deposit box. Also, remember to notify your insurance company about new construction on your property and high-end acquisitions, such as a big-screen TV.

Why bother?

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]]>DocuHome Home Inventory Solutionsfire insurancefire seasonhomehome insurancehome inventoryMalibu Corral Canyon FireDiane WednerTue, 12 Oct 2010 11:00:00 ESTRent vs. buy: Top five cities where it's better to buy (or rent) a homehttp://www.dailyfinance.com/2010/10/08/rent-vs-buy-top-five-cities-where-its-better-to-buy-or-rent/http://www.dailyfinance.com/2010/10/08/rent-vs-buy-top-five-cities-where-its-better-to-buy-or-rent/http://www.dailyfinance.com/2010/10/08/rent-vs-buy-top-five-cities-where-its-better-to-buy-or-rent/#commentsFiled under: ,

house with sale pending signWith interest rates on 30-year mortgages hitting yet another record low this week -- 4.27%, according to Freddie Mac -- it makes sense to rush out and buy a home, right?

Maybe not. New York-based real estate research firm Reis Inc. reported Thursday that a surge of renters in the third quarter pushed the national apartment vacancy rate down to 7.2%, from 7.8% the quarter before, one of the steepest drops ever. So more people are renting. And somewhat surprisingly, despite the strong rental demand, rent prices have remained relatively flat. So it's better to rent, right?

If you're confused, keep this in mind: Whether it's more economical to buy or rent depends on where you live.

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]]>five cities where its cheaper to rentreal estaterent vs. buy indexRent Vs. BuyingrentingDiane WednerFri, 08 Oct 2010 00:04:00 ESTMortgage rates hit record low. Will buyers finally take the plunge?http://www.dailyfinance.com/2010/10/07/mortgage-rates-hit-record-low-will-buyers-finally-take-the-plun/http://www.dailyfinance.com/2010/10/07/mortgage-rates-hit-record-low-will-buyers-finally-take-the-plun/http://www.dailyfinance.com/2010/10/07/mortgage-rates-hit-record-low-will-buyers-finally-take-the-plun/#commentsFiled under: ,

couple trying to get a home loanRates for 30-year mortgages broke another record for the week ending today, dropping to an average 4.27% from 4.32% a week ago, according to Freddie Mac. That marks the lowest rate since 1971, when the mortgage-finance giant started tracking such data. The rates sank far below last year's 4.87%.

Similarly, 15-year fixed-rate loans tumbled, to an average 3.72%, down from 3.75% last week.

Does that mean buyers will finally head back to the housing market? Probably not in a significant way, experts say, mainly because the weak jobs market and fears of a still-shaky economy will continue to keep them on the sidelines. The U.S. jobless rate currently is at 9.6%. And qualifying for a loan -- even if your ducks are lined up -- still is a challenge.

So far, low rates have barely spurred buyers.

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]]>bankseconomyhistoric low rateshome saleshousingmortgage ratereal estateunemploymentDiane WednerThu, 07 Oct 2010 15:00:00 ESTIs California dreamin' finally within your reach? Five beachfront communities that may be affordablehttp://www.dailyfinance.com/2010/09/25/is-california-dreamin-finally-within-your-reach-five-beachfron/http://www.dailyfinance.com/2010/09/25/is-california-dreamin-finally-within-your-reach-five-beachfron/http://www.dailyfinance.com/2010/09/25/is-california-dreamin-finally-within-your-reach-five-beachfron/#commentsFiled under: ,

california coastline (OK, so it's central Cali and not Socal. Who'll know?)There's a reason celebrities and just about everyone else want to drop anchor on Southern California's coast. Miles of sun-bleached beaches, year-round great weather, and now, more affordable homes beckon those with cash to spare.

Keep in mind, however, that "affordable" in Malibu isn't the same as "affordable" in, say, Mesa, Ariz. But there are bargains to be had on the golden strand of the Golden State if you look hard enough.

Here are five hard-to-resist SoCal beach communities, with home prices ranging from "I can do that" to "you're kidding, right?":
  • Huntington Beach, Calif., is a good place to start coastal house-hunting. An eight-mile stretch of sparkling beaches helped turn the city, formerly an agricultural area and oil boom town, into "Surf City U.S.A." In the 1960s, biker hangouts, surf shops and penny arcades attracted young people who rented cottages for $75 a month. But let's not look back that far and get depressed. The median price of a single-family home in Surf City in August was $631,634, according to San Diego research firm MDA DataQuick. A good deal, considering it was $825,000 at the peak in January 2007.

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]]>california coastal real estateHuntington BeachLaguna Beachreal estateDiane WednerSat, 25 Sep 2010 08:00:00 ESTFive cities with the best real estate dealshttp://www.dailyfinance.com/2010/09/15/five-cities-with-the-best-real-estate-deals/http://www.dailyfinance.com/2010/09/15/five-cities-with-the-best-real-estate-deals/http://www.dailyfinance.com/2010/09/15/five-cities-with-the-best-real-estate-deals/#commentsFiled under: , ,

Five cities with the best real estate deals - house made of dollar billsRock-bottom interest rates haven't done it. Even the government's tax credit program made only a fleeting difference. Perhaps this news will spur reluctant home buyers to finally take the plunge: $29 billion was just slashed off listing prices nationally. Home buyers, please start your engines?

Price reductions for homes currently listed on the U.S. market have increased -- for the third consecutive month -- making up 26% of the inventory and representing more than $29 billion in lowered prices, according to research conducted by Trulia.com, a real estate Web site. The data do not include foreclosed properties.

What does this mean? Sellers across the country, most notably in five Midwestern and Southwestern cities, took a big gulp of a drink called "Get Real" and are pricing their homes to go.

Topping the list of the 50 largest U.S. cities with home-price reductions are Minneapolis, Minn.; Milwaukee, Wis.; Phoenix, Ariz.; Mesa, Ariz. and Albuquerque, N.M. Whether the homes were overpriced because they wished it were still 2005, or they're competing with foreclosed homes for sale, sellers in these metropolitan areas are serious about making a deal. That's good for buyers and the economy.

Rank City State Percent of listings with price reductions average reduction (%) Total amount of reductions
1 Minneapolis MN 43% 10% $ 34,826,216
2 Milwaukee WI 40% 10% $ 25,842,596
3 Phoenix AZ 39% 14% $ 115,935,148
4 Mesa AZ 37% 12% $ 30,644,382
5 Albuquerque NM 35% 9% $ 39,179,787

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]]>most reduced pricesreal estateDiane WednerWed, 15 Sep 2010 00:01:00 ESTTargeted communities get first dibs to buy foreclosed propertieshttp://www.dailyfinance.com/2010/09/04/targeted-communities-get-first-dibs-to-buy-foreclosed-properties/http://www.dailyfinance.com/2010/09/04/targeted-communities-get-first-dibs-to-buy-foreclosed-properties/http://www.dailyfinance.com/2010/09/04/targeted-communities-get-first-dibs-to-buy-foreclosed-properties/#commentsFiled under: , ,

Targeted communities get first dibs to buy foreclosed propertiesFile this story under "ironic."

Lots of taxpayers bought homes they couldn't afford. So they lost their homes. Cities -- meaning taxpayers -- are now going to buy those foreclosed homes. Sound goofy? It's for real.

The U.S. Department of Housing and Urban Development has announced the launch of a new program called First Look, in which banks will give state and local governments and nonprofit organizations a first shot at buying foreclosed properties.

Under the program, communities will get 48 hours' advance notice to buy the distressed properties at a 1% discount, according to HUD. The program's goal is to boost the $7 billion Neighborhood Stabilization Program which, as part of the Housing and Economic Recovery Act of 2008, provided grants to some local governments to purchase and redevelop distressed properties.

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]]>blighted neighborhoodsFirst LookflippersforeclosuresHUDreal estateDiane WednerSat, 04 Sep 2010 14:00:00 EST10 alternative uses for pantyhosehttp://www.dailyfinance.com/2010/08/23/10-alternative-uses-for-pantyhose/http://www.dailyfinance.com/2010/08/23/10-alternative-uses-for-pantyhose/http://www.dailyfinance.com/2010/08/23/10-alternative-uses-for-pantyhose/#commentsFiled under: , ,

Women's legs, wearing pantyhosePantyhose -- the bane and blessing of women's fashion -- have been around for a long time. The nylon-and-spandex invention blossomed in the '60s, when miniskirts arrived and garters and stockings made their way to the specialty section of stores. In recent years, the lingerie staple has become a bit passé, as fashion has trended away from leg coverings -- other than slacks --- to a bare-legged look.

No matter, many women still are shackled to the perspiration-inducing, run-guaranteed clothing item, especially businesswomen, whose workplaces often forbid bare legs.

So, what to do with pantyhose after they've run -- you should excuse the expression -- their course?

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]]>alternate uses for hosealternate uses for panyhoseother uses for pantyhoseDiane WednerMon, 23 Aug 2010 12:00:00 ESTThe five most affordable major U.S. housing marketshttp://www.dailyfinance.com/2010/08/20/the-five-most-affordable-major-u-s-housing-markets/http://www.dailyfinance.com/2010/08/20/the-five-most-affordable-major-u-s-housing-markets/http://www.dailyfinance.com/2010/08/20/the-five-most-affordable-major-u-s-housing-markets/#commentsFiled under: ,

Buyers still wondering if conditions finally are perfect for jumping into the housing market can look at five major U.S. metropolitan areas to get a resounding "yes" to that question.

Super-low interest rates -- a 30-year fixed rate mortgage averaged 4.42% for the week ending Thursday (last year at this time it was 5.12%), according to Freddie Mac -- and home prices still languishing has made housing in several metro markets about as affordable as it ever will get, according to a just-released National Assn. of Home builders and Wells Fargo survey.

"Homeownership is within reach of more households than it has been for almost a generation," says NAHB chairman Bob Jones.

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]]>affordabilityaffordable housinghousinghousing marketsDiane WednerFri, 20 Aug 2010 14:00:00 ESTNot all remodeling pays off when you sell your househttp://www.dailyfinance.com/2010/08/17/not-all-remodeling-pays-off-when-you-sell-your-house/http://www.dailyfinance.com/2010/08/17/not-all-remodeling-pays-off-when-you-sell-your-house/http://www.dailyfinance.com/2010/08/17/not-all-remodeling-pays-off-when-you-sell-your-house/#commentsFiled under: ,

Family prepared to remodel homeWith the housing market still on pause and the kids about to head back to school, some owners are thinking about fall home-improvement projects. May as well enjoy a spruce-up and add value to my home, right? The answer is: it depends.

Home buyer attitudes have changed since the recession hit, agents say, with an emphasis on utility, rather than opulence. Buyers in some regions can get such good buys on new homes or foreclosures that they don't care about that all-granite, professional-kitchen remodel.

West Coast homeowners fare best with their return on investment, or ROI. Residents of the Mid-Atlantic, Midwest and Central Plains regions get the least ROI, according to Remodeling magazine's 2009-2010 Cost vs. Value report.

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]]>remodeling and sale priceremodeling return on investmentremodeling ROIremodeling valuesRemodelingReturnOnInvestmentRemodelingRoishould you remodelShouldYouRemodelDiane WednerTue, 17 Aug 2010 17:00:00 ESTLittle houses, big trend?http://www.dailyfinance.com/2010/07/27/little-houses-big-trend/http://www.dailyfinance.com/2010/07/27/little-houses-big-trend/http://www.dailyfinance.com/2010/07/27/little-houses-big-trend/#commentsFiled under: ,

Little houses, big trend?Bryce Prunty likes living small. In 2002 he bought a one-bedroom, 225-square-foot condominium, steps from the beach in Santa Monica, Calif. The unit is one of 14 small converted apartments making up a close-knit, landscaped complex on one of the most popular -- and expensive -- stretches of real estate in the U.S. He paid about $1,022 per square foot.

The 37-year-old tech-job recruiter loved the tiny pull-down dining room table, the mini-appliances, one closet -- in the entire unit -- and the miniature staircase leading up to the sleeping loft. No pantry in the unit, no counters, no clutter. Perfect.

Three years and a fiancee later, he moved up to a 600-square-foot condo in the same complex, a ballroom compared to the first one, but still a tight squeeze.

Nonetheless, "it's not a problem living in small spaces," Prunty says. "You get rid of the big couch and the clutter, and your life is simpler." He and his wife and baby daughter now occupy a 700-square foot house, but still own their tiny condo, which they rent out. "It's easy to get renters. People love it."

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]]>housingreal estatesmall housessmaller house trendDiane WednerTue, 27 Jul 2010 09:00:00 ESTThe facts about FHA loanshttp://www.dailyfinance.com/2010/07/22/the-facts-about-fha-loans/http://www.dailyfinance.com/2010/07/22/the-facts-about-fha-loans/http://www.dailyfinance.com/2010/07/22/the-facts-about-fha-loans/#commentsFiled under: ,

The facts about FHA loansWith the economy stalled and the housing market still sluggish, no one is sure what it will take to get buyers into new homes. Obtaining an affordable loan -- any loan, in many cases -- seems insurmountable. But there is a way.

Hello, FHA! These government-backed loans, which require smaller down payments and are easier to qualify for, are more popular than ever. The Federal Housing Administration currently insures 6.1 million single-family mortgages and 13,000 insured multifamily projects, according to the U.S. Department of Housing and Urban Development.

"FHA loans are more popular than ever because of the low down-payment requirement," says Mona Dehmohseni, broker and owner of AML Mortgage Associated Inc. in Van Nuys, Calif. "During the housing peak, I wrote no FHA loans. Now I'm writing three or four every month."

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]]>FHA loanhousinghow to get a FHA loanreal estateDiane WednerThu, 22 Jul 2010 09:00:00 ESTBaldwin Park, birthplace of In-N-Out burger, bans drive-thru fast foodhttp://www.dailyfinance.com/2010/07/06/baldwin-park-birthplace-of-in-n-out-burger-bans-drive-thru-fas/http://www.dailyfinance.com/2010/07/06/baldwin-park-birthplace-of-in-n-out-burger-bans-drive-thru-fas/http://www.dailyfinance.com/2010/07/06/baldwin-park-birthplace-of-in-n-out-burger-bans-drive-thru-fas/#commentsFiled under: , ,

Baldwin Park, birthplace of In-N-Out burger, bans drive-thru fast foodHoly cow! Baldwin Park, Calif., purported home of the state's first drive-through restaurant -- a hamburger haven called In-N-Out -- has imposed a nine-month moratorium on new drive-through eateries there.

In a climate of soaring obesity rates -- 17% of children and nearly 34% of adults are obese, according to the Centers for Disease Control and Prevention -- city officials in this 6.5-square-mile suburb east of Los Angeles made a healthy choice for the community, says Salvador Lopez, a Baldwin Park city planner who helped write the ordinance. It took effect over the July 4 weekend, when Americans consumed an epic number of hamburger and hot dogs.

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]]>Baldwin ParkBaldwinParkbanning drive throughsBanningDriveThroughsdrive throughsdrive thruDriveThroughsDriveThrufast foodFastFoodIn-N-Out Burgerjunk foodJunkFoodDiane WednerTue, 06 Jul 2010 17:30:00 ESTWindow quickly closing on California home-buyer tax credithttp://www.dailyfinance.com/2010/07/02/window-quickly-closing-on-california-home-buyer-tax-credit/http://www.dailyfinance.com/2010/07/02/window-quickly-closing-on-california-home-buyer-tax-credit/http://www.dailyfinance.com/2010/07/02/window-quickly-closing-on-california-home-buyer-tax-credit/#commentsFiled under: , , , ,

Just as Congress approved a three-month closing-date extension for first-time buyers applying for federal tax credits -- a program responsible for big spikes in home sales this spring -- California announced that its most popular tax credit program is rapidly reaching the application limit.

As of June 29, the state already had received first-time buyer applications totaling more than the $100 million allotment--about 21,000 applications--according to the state's Franchise Tax Board. The good news is that the board is accepting at least 28,000 applications, knowing that a number of duplicate, revised or invalid applications will be denied.

The tax credit is allocated on a first-come, first served basis, based on the time and date stamped on the faxed application. Applications must be faxed after escrow closes. The tax board will post the cutoff date for applications on its website 24 hours prior to its going into effect, so applicants have time to fax their documentation.

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]]>californiacalifornia real estategovernment incentivegovernment incentiveshome-buyer tax creditreal estatereal estate tax creditrecessionDiane WednerFri, 02 Jul 2010 17:00:00 EST'Amityville Horror' house on the market for $1.15 millionhttp://www.dailyfinance.com/2010/05/26/amityville-horror-house-on-the-market-for-1-15-million/http://www.dailyfinance.com/2010/05/26/amityville-horror-house-on-the-market-for-1-15-million/http://www.dailyfinance.com/2010/05/26/amityville-horror-house-on-the-market-for-1-15-million/#commentsFiled under: ,

amityville horror houseIf you want some creepy history and cinematic cult fame to go with your five bedrooms and 3-1/2 baths, look no further than this classic Dutch Colonial on the market in quaint Amityville, N.Y.

Why the fuss? This listing on Long Island's south shore, for $1.15 million, is the "Amityville Horror" house, where six members of the DeFeo family were killed in their sleep in 1974. The eldest son, Ronald DeFeo Jr., was convicted of the murders. But don't expect that notoriety to increase the house's value.

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]]>amityvilleamityville horrorFamehome salehome salesDiane WednerWed, 26 May 2010 09:21:00 EST