WalletPop Blog http://www.walletpop.com/blog WalletPop Blog http://www.walletpop.com/blog/media/feedlogo.gif WalletPop Blog http://www.walletpop.com/blog en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/Tips from your Treasury Secretary: Can't sell -- just rent it!http://www.walletpop.com/blog/2009/06/07/tips-from-your-treasury-secretary-cant-sell-just-rent-it/http://www.walletpop.com/blog/2009/06/07/tips-from-your-treasury-secretary-cant-sell-just-rent-it/http://www.walletpop.com/blog/2009/06/07/tips-from-your-treasury-secretary-cant-sell-just-rent-it/#commentsFiled under: , ,

Treasury Secretary Timothy Geithner's home in Westchester CountyTimothy Geithner is obviously a very busy man. In addition to reassuring the Chinese that they have nothing to worry about the U.S. economy, he's also trying to sell his home in Westchester County, N.Y., pictured at right.

But it looks like he may have given up on the latter, at least for now.

The Associated Press is reporting that Geithner, having failed to sell his home -- even after a slight price reduction -- is renting his former home out for $7,500 a month.

Many high-profile sellers have been opting to rent their homes out, including Jim Belushi, while others like Shaquille O'Neal have had to reduce their home prices by 20 percent or more.

Experts in Westchester say Geithner is probably losing money on the deal, as he has two mortgages worth $1.25 million and annual property taxes of more than $27,000.

Luxist.com has a list of the 10 biggest price drops in recent real estate, including Leona Helmsley's estate.

With home prices down about 30% nationwide year over year, more and more sellers are likely to take their homes off the market if they don't quickly find a buyer.

The luckier ones will find a tenant who will pay enough to at least cover the taxes and the interest payments.

Brett Widness is an editor with AOL's real estate channel. Find homes for sale, foreclosures, home values, home finance and apartments at AOL Real Estate.

Tips from your Treasury Secretary: Can't sell -- just rent it! originally appeared on WalletPop Blog on Sun, 07 Jun 2009 15:00:00 EST. Please see our terms for use of feeds.

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]]>geithnerreal estateRealEstateBrett WidnessSun, 07 Jun 2009 15:00:00 ESTWith friends like these: Homeowners not finding lenders very helpfulhttp://www.walletpop.com/blog/2009/06/04/with-friends-like-these-homeowners-not-finding-lenders-very-hel/http://www.walletpop.com/blog/2009/06/04/with-friends-like-these-homeowners-not-finding-lenders-very-hel/http://www.walletpop.com/blog/2009/06/04/with-friends-like-these-homeowners-not-finding-lenders-very-hel/#commentsFiled under: , , ,

The New York Times profiles a woman in Mesa, Ariz., who is having a hard time making her mortgage payments since she lost her job as an executive assistant at a local university.

"Ms. Ulery is among that unhappy cohort -- her house is worth about $122,000, and she owes $143,000 -- but walking away is not for her."

Despite all the rhetoric, owners who are upside down on their mortgages and have not yet defaulted are caught in something of a netherworld, where lenders are not compelled to offer them a lower rate, but sooner or later, they are going to miss a payment or default on the loan.


Continue reading With friends like these: Homeowners not finding lenders very helpful

With friends like these: Homeowners not finding lenders very helpful originally appeared on WalletPop Blog on Thu, 04 Jun 2009 11:00:00 EST. Please see our terms for use of feeds.

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]]>lendersreal estateRealEstateBrett WidnessThu, 04 Jun 2009 11:00:00 ESTFeels like the first time: Realtor group reports pending home sales at 7-year high http://www.walletpop.com/blog/2009/06/03/feels-like-the-first-time-realtor-group-reports-pending-home-sa/http://www.walletpop.com/blog/2009/06/03/feels-like-the-first-time-realtor-group-reports-pending-home-sa/http://www.walletpop.com/blog/2009/06/03/feels-like-the-first-time-realtor-group-reports-pending-home-sa/#commentsFiled under:

According to our friends at the National Association of Realtors, the number of pending home sales jumped up 6.7% in April, the largest monthly gain since 2001. That puts the index 3.2% above its year-ago level, in the latest sign the battered U.S. housing sector is stabilizing. This was also the third consecutive month that pending home sales rose.

Now, some of these sales may fall through between now and when they were set to close, that's why they are called pending sales.

The last time the trade group's pending home sales index had risen for at least three straight months was the period from July through October 2004 -- a housing boom year.

Continue reading Feels like the first time: Realtor group reports pending home sales at 7-year high

Feels like the first time: Realtor group reports pending home sales at 7-year high originally appeared on WalletPop Blog on Wed, 03 Jun 2009 12:00:00 EST. Please see our terms for use of feeds.

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]]>first-time homebuyersFirst-timeHomebuyersHUDNARreal estateRealEstatetax creditTaxCreditBrett WidnessWed, 03 Jun 2009 12:00:00 ESTIs California's housing market near the bottom?http://www.walletpop.com/blog/2009/05/31/is-californias-housing-market-near-the-bottom/http://www.walletpop.com/blog/2009/05/31/is-californias-housing-market-near-the-bottom/http://www.walletpop.com/blog/2009/05/31/is-californias-housing-market-near-the-bottom/#commentsFiled under: , ,

BusinessWeek looks at 10 markets in California where housing demand has picked up of late, boosting prices off the lows we've seen in the past few months.

One of the reasons demand has picked back up is California's $10,000 tax credit for buyers, on top of the $8,000 federal first time buyer credit.

Peter Toner, a Realtor at Prudential California Realty in San Diego, says luxury homes are lingering on the market, but properties listed for less than $400,000 are selling quickly.

Continue reading Is California's housing market near the bottom?

Is California's housing market near the bottom? originally appeared on WalletPop Blog on Sun, 31 May 2009 09:00:00 EST. Please see our terms for use of feeds.

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]]>BusinessweekCalifornia marketCaliforniaMarkethome salesHomeSalesjumbo mortgagesJumboMortgagesreal estateRealEstateBrett WidnessSun, 31 May 2009 09:00:00 ESTCash is still king: Those looking to remodel get a dealhttp://www.walletpop.com/blog/2009/05/22/cash-is-still-king-those-looking-to-remodel-get-a-deal/http://www.walletpop.com/blog/2009/05/22/cash-is-still-king-those-looking-to-remodel-get-a-deal/http://www.walletpop.com/blog/2009/05/22/cash-is-still-king-those-looking-to-remodel-get-a-deal/#commentsFiled under: ,

USAToday has found a couple in the San Francisco suburbs who had a contractor come knocking on their door offering to remove a tree -- at a discount.

"[Darien} Destino and her husband, Don, recently had their 3,000-square-foot home painted by the same contractor who bid 40 percent more for the job two years ago. The pine trees crowding the front yard were removed for half the cost requested in 2007."

By waiting two years, they got both projects done for 40-50% less than the cost they were originally quoted.

Plus, if a contractor has already done an estimate on your place, it's easier for them to assess what the job is worth to them in terms of keeping their workers busy, cash flow, etc. If you have an old quote, you may want to call that contractor back and see if they are willing to do the same job for less.


Continue reading Cash is still king: Those looking to remodel get a deal

Cash is still king: Those looking to remodel get a deal originally appeared on WalletPop Blog on Fri, 22 May 2009 19:00:00 EST. Please see our terms for use of feeds.

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]]>contractorcontractorsremodelremodelingBrett WidnessFri, 22 May 2009 19:00:00 ESTAre jumbo mortgages holding back the housing market?http://www.walletpop.com/blog/2009/05/22/are-jumbo-mortgages-holding-back-the-housing-market/http://www.walletpop.com/blog/2009/05/22/are-jumbo-mortgages-holding-back-the-housing-market/http://www.walletpop.com/blog/2009/05/22/are-jumbo-mortgages-holding-back-the-housing-market/#commentsFiled under: ,

Yes ... according to the National Association of Realtors in a new report.

While interest rates have gone lower and lower for prime "conventional" mortgages, guaranteed by the FHA, Fannie Mae or Freddie Mac, there is no federal guarantor for the jumbo mortgage market.

According to the NAR, "the national share of home sales above $750,000 has fallen from 4.4% in 2007 to approximately 2.3% in 2009, and the months' supply of inventory has risen from 18.7 months to 41.1 months during that same period."

In other words, it will take more than three years to sell off all the homes that are priced above $750,000 at the current rate. At the same time, the $8,000 first-time home buyer credit isn't going to do you a lot of good when you have to come up with $100,000+ or more just for the 20% down payment.

States that have the highest percentage of jumbo mortgages include Hawaii (43% of all loans are above $417,000), California (41%), the District of Columbia (30%) and New York (22%).

Continue reading Are jumbo mortgages holding back the housing market?

Are jumbo mortgages holding back the housing market? originally appeared on WalletPop Blog on Fri, 22 May 2009 09:00:00 EST. Please see our terms for use of feeds.

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]]>Bank of AmericaBankOfAmericabanksjumbo mortgagesJumboMortgageslendingNARreal estateRealEstateBrett WidnessFri, 22 May 2009 09:00:00 EST'Today Show' says Denver will be first market to recoverhttp://www.walletpop.com/blog/2009/05/21/today-show-says-denver-will-be-first-market-to-recover/http://www.walletpop.com/blog/2009/05/21/today-show-says-denver-will-be-first-market-to-recover/http://www.walletpop.com/blog/2009/05/21/today-show-says-denver-will-be-first-market-to-recover/#commentsFiled under: , ,

Author and real estate pundit Barbara Corcoran says that cities like Denver, will be the first to bounce back from the housing slump.

"It's really the perfect real estate success story," she said. "It had one of the highest foreclosure rates in the nation for years running, and now they've cut that foreclosure rate in half and they've turned the corner."

Visit msnbc.com for Breaking News, World News, and News about the Economy

Continue reading 'Today Show' says Denver will be first market to recover

'Today Show' says Denver will be first market to recover originally appeared on WalletPop Blog on Thu, 21 May 2009 09:30:00 EST. Please see our terms for use of feeds.

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]]>Barbara CorcoranBarbaraCorcoranDenverfeaturedforclosuresmarket recoveryMarketRecoveryNextvillereal estateRealEstateToday ShowTodayShowBrett WidnessThu, 21 May 2009 09:30:00 ESTCondo prices take a beating, but in a few markets, keep on tickinghttp://www.walletpop.com/blog/2009/05/17/condo-prices-take-a-beating-but-in-a-few-markets-keep-on-ticki/http://www.walletpop.com/blog/2009/05/17/condo-prices-take-a-beating-but-in-a-few-markets-keep-on-ticki/http://www.walletpop.com/blog/2009/05/17/condo-prices-take-a-beating-but-in-a-few-markets-keep-on-ticki/#commentsFiled under: , ,

For first-time buyers and investors, condominiums are often a way to get into a hot housing market, offering the potential for appreciation and/or rental income, without having to worry overly about a lot of maintenance costs, zoning and other issues. See the full report in Acrobat.

But the condo market has taken a beating over the past few years, in part due to overbuilding in places like Miami, but also because financing for condominiums can be more strict than single-family homes.

According to the National Association of Realtors, the average condo lost 20% of its value from the first quarter of 2008 to the first quarter of 2009. Of the roughly 60 markets surveyed by the NAR, only five showed appreciation year over year.


Continue reading Condo prices take a beating, but in a few markets, keep on ticking

Condo prices take a beating, but in a few markets, keep on ticking originally appeared on WalletPop Blog on Sun, 17 May 2009 09:00:00 EST. Please see our terms for use of feeds.

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]]>condocondominiumcondominiumscondosreal estateRealEstateBrett WidnessSun, 17 May 2009 09:00:00 EST10 best and worst housing markets of the first quarterhttp://www.walletpop.com/blog/2009/05/15/10-best-and-worst-housing-markets-of-the-first-quarter/http://www.walletpop.com/blog/2009/05/15/10-best-and-worst-housing-markets-of-the-first-quarter/http://www.walletpop.com/blog/2009/05/15/10-best-and-worst-housing-markets-of-the-first-quarter/#commentsFiled under: , ,

The National Association of Realtors have released its city by city data for the first quarter. The bad news is that only 18 of the 150 markets surveyed showed appreciation year over year.

But which markets did the best overall?

The Cumberland, Md., metro area was the strongest market overall, with prices up more than 20% year over year. Most of the other markets showing strength were in the Midwest (Davenport, Iowa, and Columbia, Mo.), Upstate New York, and Texas/Oklahoma.

Salt Lake City was one of the stronger markets out West, up 1.9% year over year, but didn't quite make the Top 10 below.

Continue reading 10 best and worst housing markets of the first quarter

10 best and worst housing markets of the first quarter originally appeared on WalletPop Blog on Fri, 15 May 2009 09:00:00 EST. Please see our terms for use of feeds.

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]]>10 best housing markets10 worst housing markets10BestHousingMarkets10WorstHousingMarketsfeaturedreal estateRealEstateBrett WidnessFri, 15 May 2009 09:00:00 ESTTime to jump back into investing, Shiller sayshttp://www.walletpop.com/blog/2009/05/07/shiller-says-time-to-buy-real-estate-stocks/http://www.walletpop.com/blog/2009/05/07/shiller-says-time-to-buy-real-estate-stocks/http://www.walletpop.com/blog/2009/05/07/shiller-says-time-to-buy-real-estate-stocks/#commentsFiled under: , , ,

Yale economist Robert Shiller, the creator of the S&P Case-Shiller Index and author of "The Subprime Solution" and "Irrational Exuberance," said that investors should brave the current "economic chaos" and buy stocks and real estate.

"I'm less pessimistic than I was a few months ago," Shiller said of U.S. markets in an interview in New York with Bloomberg.com. "The price-earnings ratio is about average, and by that you might say it sounds like one should be in the market and have a balanced portfolio that has a good share of stocks."

"Having a good fraction of your portfolio in stocks, not zero, is probably sensible now," he said. "People should be in real estate as well because that has a chance of rebounding. It has to be about diversification, about spreading risks."

Shiller's main point seems to be that investors shouldn't be too focused on one asset class, which is what tended to happen when homeowners were putting so much of their income into their homes, instead of splitting it up between savings, the stock market, real estate, and other asset classes.

Shiller famously sold his house and started renting after being laughed off CNBC and other media outlets for his prediction that the housing bubble would soon burst.

Recent Real Estate Features
Brett Widness is an editor with AOL's real estate channel. Find homes for sale, foreclosures, home values, home finance and apartments at AOL Real Estate.

Time to jump back into investing, Shiller says originally appeared on WalletPop Blog on Thu, 07 May 2009 14:00:00 EST. Please see our terms for use of feeds.

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]]>homesinvestorsreal estateRealEstateshillerBrett WidnessThu, 07 May 2009 14:00:00 ESTRealtors say more homes drawing multiple offershttp://www.walletpop.com/blog/2009/05/06/realtors-say-more-homes-drawing-multiple-offers/http://www.walletpop.com/blog/2009/05/06/realtors-say-more-homes-drawing-multiple-offers/http://www.walletpop.com/blog/2009/05/06/realtors-say-more-homes-drawing-multiple-offers/#commentsFiled under: , ,

According to a USAToday piece, the market in states such as California and Florida have picked up, with about 10% of listings receiving multiple offers, up from one in 30 last fall.

"When you begin to see people willing to fight for a property, that's a good sign," says Beth Peerce, treasurer of the California Association of Realtors (CAR). "We are beginning to see the beginning of the end of a disaster time."

Most of the evidence in the article is anecdotal, but the states mentioned include Arizona, California and Florida, all three of which have some of the highest foreclosure concentrations in the country.

Notably absent was any mention of Michigan or Ohio. Cleveland saw home prices drop 5% month over month in the latest Case Shiller data.

The NYTimes had a smiliar article focusing on the Sacramento market, one of the hardest hit in California, but also one of the more affordable.

Brett Widness is an editor with AOL's real estate channel. Find homes for sale, foreclosures, home values, home finance and apartments at AOL Real Estate.

Realtors say more homes drawing multiple offers originally appeared on WalletPop Blog on Wed, 06 May 2009 17:30:00 EST. Please see our terms for use of feeds.

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]]>housingmultiple offersMultipleOffersreal estateRealEstaterecessionSchiller indexSchillerIndexBrett WidnessWed, 06 May 2009 17:30:00 ESTFannie Mae to encourage short sales?http://www.walletpop.com/blog/2009/01/12/fannie-mae-to-encourage-short-sales/http://www.walletpop.com/blog/2009/01/12/fannie-mae-to-encourage-short-sales/http://www.walletpop.com/blog/2009/01/12/fannie-mae-to-encourage-short-sales/#commentsFiled under: , , ,

According to an article in the Wall Street Journal (subscription required), Fannie Mae is testing a program in Phoenix and Orlando, two of the hardest hit markets, whereby Fannie would agree to a minimum price for which it would be willing to sell a home at, rather then wait for it to fall into foreclosure and sit vacant for weeks and months.

Both Phoenix and Orlando have been particularly hard hit by foreclosures. Home prices fell in the Phoenix region 33% last year through October, according to Standard & Poor's/Case-Shiller home-price index, the worst decline in the country. Some 29% of the state's borrowers had negative equity in August, and an additional 6% of borrowers were approaching negative equity, according to a report by First American CoreLogic, a data provider.

Most recent Case-Shiller home value data

Continue reading Fannie Mae to encourage short sales?

Fannie Mae to encourage short sales? originally appeared on WalletPop Blog on Mon, 12 Jan 2009 13:00:00 EST. Please see our terms for use of feeds.

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]]>Fannie MaeFannieMaeforeclosureReal EstateRealEstateShort salesShortSalesBrett WidnessMon, 12 Jan 2009 13:00:00 ESTAnalysts say unemployment makes a bad year to buy a homehttp://www.walletpop.com/blog/2009/01/09/analysts-say-unemployment-makes-a-bad-year-to-buy-a-home/http://www.walletpop.com/blog/2009/01/09/analysts-say-unemployment-makes-a-bad-year-to-buy-a-home/http://www.walletpop.com/blog/2009/01/09/analysts-say-unemployment-makes-a-bad-year-to-buy-a-home/#commentsFiled under: , , ,

An analyst for the home building industry says that 2009 is not a good year to buy for those who may be at risk of finding themselves unemployed. Read more about this report at Marketwatch.com.

"Buyers who lose their jobs or who stay in their homes for less than seven years stand to incur substantial losses as home prices decline further in 2009 and the U.S. experiences more moderate home-price appreciation going forward," says Robert Stevenson, a Fox-Pitt Kelton home-builder analyst.

Another aspect that buyers may overlook is that you don't start to see the return on your home purchase at least until you file your first tax return. Only then does the home interest deduction start to pay dividends, so those first six to nine months as a new home owner can be challenging.

Continue reading Analysts say unemployment makes a bad year to buy a home

Analysts say unemployment makes a bad year to buy a home originally appeared on WalletPop Blog on Fri, 09 Jan 2009 17:30:00 EST. Please see our terms for use of feeds.

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]]>2009foreclosureshome ownership in 2009HomeOwnershipIn2009investmentreal estateRealEstatewealth creationWealthCreationBrett WidnessFri, 09 Jan 2009 17:30:00 ESTWorld Series of Cities: Would you take Philly over Tampa?http://www.walletpop.com/blog/2008/10/27/world-series-of-cities-would-you-take-philly-over-tampa/http://www.walletpop.com/blog/2008/10/27/world-series-of-cities-would-you-take-philly-over-tampa/http://www.walletpop.com/blog/2008/10/27/world-series-of-cities-would-you-take-philly-over-tampa/#commentsFiled under: , ,

The Grand High Wizard of all things Best Places, Bert Sperling, has weighed in on which of the two cities, highlighted by the Fall Classic, his data says is the better place to live.

Sperling gives Philly the edge over Tampa by an 8-7 margin, mostly based on Philly's lower unemployment, cultural appeal, higher education and public transportation options. But Tampa keeps it close with better weather, cheaper housing and outdoor recreation.

We're not sure it should even be that close...when was the last time Philly got hit with a hurricane?

At the same time, Tampa does represent a great buying opportunity, as you can get a condo for less than $50,000 right near the rapidly growing University of Southern Florida campus. Compare that to the area around U-Penn or Haverford, and you'll see why Tampa might appeal to retirees and others looking to downsize.

For more information, check out the whole article, World Series of Cities: Tampa vs. Philly, at AOL Real Estate, or more best places to live.

World Series of Cities: Would you take Philly over Tampa? originally appeared on WalletPop Blog on Mon, 27 Oct 2008 17:00:00 EST. Please see our terms for use of feeds.

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]]>best cities to live inBestCitiesToLiveInPhiladelphiaReal estateRealEstateTampaBrett WidnessMon, 27 Oct 2008 17:00:00 ESTTen percent off on homes...your time to buy?http://www.walletpop.com/blog/2008/10/15/10-percent-off-on-homes-your-time-to-buy/http://www.walletpop.com/blog/2008/10/15/10-percent-off-on-homes-your-time-to-buy/http://www.walletpop.com/blog/2008/10/15/10-percent-off-on-homes-your-time-to-buy/#commentsFiled under: , ,

When we heard late last week that Coldwell Banker was announcing a 10-day "sale" to start last Friday, you can imagine our skepticism. Here we were looking at the worst week in stock market history, and buyers are supposed to rush out their local open house listings?

If you go to ColdwellBanker.com and you can see which listings in your area are participating in the 10-day sale. I just looked and there is one house in my ZIP code that reduced it's price by $50,000 (slightly less than 10%.)

I had a chance to talk with Jim Gillespie, President and CEO, Coldwell Banker Real Estate LLC, last week about the promotion.

Continue reading Ten percent off on homes...your time to buy?

Ten percent off on homes...your time to buy? originally appeared on WalletPop Blog on Wed, 15 Oct 2008 10:00:00 EST. Please see our terms for use of feeds.

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]]>credit crunchCreditCrunchforeclosuresreal estateRealEstateshort salesShortSalesBrett WidnessWed, 15 Oct 2008 10:00:00 ESTOverrated: Charlotte, NC hit by finance crunch, crimehttp://www.walletpop.com/blog/2008/09/16/overrated-charlotte-nc/http://www.walletpop.com/blog/2008/09/16/overrated-charlotte-nc/http://www.walletpop.com/blog/2008/09/16/overrated-charlotte-nc/#commentsFiled under:

Is Charlotte the worst city in America? Of course not, but the "Queen City" seems to have taken on a near mythical status, particularly on the East Coast, where it is portrayed as a place where home prices always go up, the job market is strong and youl have all the amenities of a major city, with none of the negatives. Riiight.

According to Forbes' Most Miserable Cities list, Charlotte (#9) has the worst ranking for violent crime of any of the cities surveyed. According to the Charlotte Observer, property crime is up 3.8 percent and violent crime is up 2.3 percent in the past year. Some citizens have even begun hiring private security to protect their neighborhoods. So that's what the HOA fees go to!

Don't miss the rest of our series on Overrated people, places and things!

One of the reasons crime may be on the rise is the weakening local economy. Three of the major employers (Wachovia, Bank of America and Lowe's) have been hurt by the credit crisis and housing crunch. While home prices have remained much stronger in Charlotte than other cities, that trend seems likely to change.

Like any Southern city, the summers are hot and humid, with an average temperature of 90 in July. But getting out of town is not as easy as it once was. While U.S. Airways uses Charlotte as a hub, the days of cheap flights are over. According to USA Today, a direct round trip flight from Charlotte to Fort Myers was recently as high as $809, while one-stop flights on other airlines were more than $500 less. Driving to the beach or the mountains isn't as cheap or easy as it once was, with rising gas prices, traffic and sprawl.

Finally, while the editor's at Southern Living noted Charlotte's "emerging" restaurant scene, some locals say there are too many chain eateries and the few local hot spots are overpriced or overrated.

In short, while Charlotte's housing prices may seem like a breath of fresh air to Yankees giving up on what the Northeast has to offer, this NASCAR-fueled boomtown may be headed for a wreck in the near future.

Overrated: Charlotte, NC hit by finance crunch, crime originally appeared on WalletPop Blog on Tue, 16 Sep 2008 15:00:00 EST. Please see our terms for use of feeds.

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]]>charlottencOverratedoverrated citiesOverratedCitiesBrett WidnessTue, 16 Sep 2008 15:00:00 ESTBest cities for singles: Anywhere but mom's couchhttp://www.walletpop.com/blog/2008/09/13/best-cities-for-singles-anywhere-but-moms-couch/http://www.walletpop.com/blog/2008/09/13/best-cities-for-singles-anywhere-but-moms-couch/http://www.walletpop.com/blog/2008/09/13/best-cities-for-singles-anywhere-but-moms-couch/#commentsFiled under: ,

Our friends at Forbes have put out their annual list of the "Best cities for singles." San Francisco was the top city last year, but Atlanta crowded it out because of lower cost of living and job growth.

While job growth and living above the poverty level are certainly nice when you are a young single-something, in reality you are mainly looking for other singles to make yourself less single (or something.)

The rest of the top five include a bizarre tie between Dallas and Minnesota (maybe depending on your political affiliation you prefer one to the other.) and our nation's capitol, Washington, D.C.

Continue reading Best cities for singles: Anywhere but mom's couch

Best cities for singles: Anywhere but mom's couch originally appeared on WalletPop Blog on Sat, 13 Sep 2008 10:00:00 EST. Please see our terms for use of feeds.

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]]>Best cities for singlesBestCitiesForSinglesfeaturedForbesreal estateRealEstateBrett WidnessSat, 13 Sep 2008 10:00:00 ESTWhy mortgage rates aren't fallinghttp://www.walletpop.com/blog/2008/09/04/why-mortgage-rates-arent-falling/http://www.walletpop.com/blog/2008/09/04/why-mortgage-rates-arent-falling/http://www.walletpop.com/blog/2008/09/04/why-mortgage-rates-arent-falling/#commentsFiled under: , ,

With the Fed holding rates for the foreseeable future, you may think this is a great time to refinance your mortgage or buy a new home. But because of the "credit crunch" you are no doubt sick of hearing about, rates are actually higher than they were this time last year.

Holden Lewis, who covers interest rates and the Fed for Bankrate.com, has just published an article talking about why rates have risen instead of falling. In a nutshell, it's because the banks aren't interested in lending to you unless you are willing to take on the higher risk in today's housing market compared to a year ago.

What can you do about it? Credit unions may be your best bet to find a reasonable rate, as they are less dependent on the secondary market which is having so many problems. But because they don't advertise as much, you may never hear about it.

Continue reading Why mortgage rates aren't falling

Why mortgage rates aren't falling originally appeared on WalletPop Blog on Thu, 04 Sep 2008 18:00:00 EST. Please see our terms for use of feeds.

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]]>home loansHomeLoansmortgage ratesMortgageRatesrefinancingBrett WidnessThu, 04 Sep 2008 18:00:00 ESTThe Price Is Right: Where Foreclosures Are Sellinghttp://www.walletpop.com/blog/2008/09/03/the-price-is-right-where-foreclosures-are-selling/http://www.walletpop.com/blog/2008/09/03/the-price-is-right-where-foreclosures-are-selling/http://www.walletpop.com/blog/2008/09/03/the-price-is-right-where-foreclosures-are-selling/#commentsFiled under: , , , ,

Foreclosures aren't necessarily a bad thing. If a bank is willing to sell a house to some one like you for less than what the previous owner paid, the bank got what it wanted and you just got a great deal. It's only in areas of the country where foreclosed homes are piling up like dirty socks, with no buyers in sight, that you have rising crime, revenue dropping for the local governments, and the value of the homes dropping like a stone.

You've heard over and over about where the foreclosures are, but BusinessWeek took a look at where the foreclosures are getting bought up. While California and Nevada top the list, states like Connecticut and Massachusetts show that smart buyers are snapping up the deals in good neighborhoods. And even in places like Southern Florida, things will likely turn around in a year or two when all the excess inventory gets sold off at a discount.

If you are interested in foreclosure properties, but don't know where to start, check out the re-designed foreclosure page at AOL Real Estate. There's information on foreclosure laws, short sales and the foreclosure process.

Brett Widness is an editor with AOL's Real Estate channel and a licensed agent in Virginia.

The Price Is Right: Where Foreclosures Are Selling originally appeared on WalletPop Blog on Wed, 03 Sep 2008 09:00:00 EST. Please see our terms for use of feeds.

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]]>ForeclosuresBrett WidnessWed, 03 Sep 2008 09:00:00 ESTPay plastic at the pump and save?http://www.walletpop.com/blog/2008/07/30/pay-plastic-at-the-pump-and-save/http://www.walletpop.com/blog/2008/07/30/pay-plastic-at-the-pump-and-save/http://www.walletpop.com/blog/2008/07/30/pay-plastic-at-the-pump-and-save/#commentsFiled under: , ,

Rather than driving five miles out of your way to save a penny or two per gallon, you can generally save between 3% to 5% on gas if you keep the right credit card in your pocket. At $4 a gallon, that's the equivalent of 20 cents off per gallon. Even if gas goes back down to $3 per gallon, you are still paying the equivalent of $2.85 a gallon.

If you already pay with plastic, you can check your credit card statement to see how much you are paying per fill-up and go from there. If you are filling up every two weeks that translates to 26 fill-ups per year, so the amounts can add up quickly.

Continue reading Pay plastic at the pump and save?

Pay plastic at the pump and save? originally appeared on WalletPop Blog on Wed, 30 Jul 2008 17:30:00 EST. Please see our terms for use of feeds.

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]]>best credit cards to buy gasBestCreditCardsToBuyGascredit cardsCreditCardsgas cardsGasCardsgasolineBrett WidnessWed, 30 Jul 2008 17:30:00 EST