The Obama administration has requested that the U.S. Treasury Department provide guidance, financial support and sales measures for short sales in an effort to kick-start the U.S. housing market. The Home Affordable Foreclosures Program is expected to provide financial incentives and streamline procedures for the completion of short sale real estate transactions that have been blamed for clogging the...

The Obama administration has requested that the U.S. Treasury Department provide guidance, financial support and sales measures for short sales in an effort to kick-start the U.S. housing market. The Home Affordable Foreclosures Program is expected to provide financial incentives and streamline procedures for the completion of short sale real estate transactions that have been blamed for clogging the...

As the federal tax credit program for first-time homebuyers is ending, some Louisville homebuyers are taking advantage of Kentucky's lesser-known $5000 tax credit for buying a new house. Kentucky's tax credit went into effect last July 26 and although it cannot be combined with the federal tax credit, Louisville real estate professionals say it is having a positive impact on home sales. The state's tax...

Commercial real estate owners and developers will get some much-needed flexibility to rework their mortgages or receive loan extensions under a new federal tax rule that could provide some relief to a deeply troubled sector of the real estate market. The new Internal Revenue Service rule will affect loans that are backed by office parks, office buildings, shopping malls and other types of commercial real...

Folks who want to take advantage of the tax credit for first-time homebuyers are running out of time. Unless Congress votes to extend the program—and some legislators are for it—the tax credit of up to $8000 will expire in December. Given the length of time that it takes to arrange financing, home inspections and all the other requisite tasks to take care of when buying a home, homebuyers are...

Buying a home is a major financial commitment; however, taking this step affords the owner many significant tax benefits that they can enjoy year after year. The federal government has created these tax advantages in an effort to promote home ownership across the country. The tax rebate for first-time home buyers makes owning a home an even better deal. Here is a brief outline of the tax...