Saving for a Down Payment   Ok, so saving $20,000 for a down payment on a home or condo by purchasing generic brand drugs versus the name brand alternatives may sound a little far-fetched, but watch this video, and Money Editor Stacy Johnson will explain. (Runs 1:29)      So do you buy name brand, or […]

Foreclosures: Lenders Slashing Prices   Lenders stung by the housing bust are slashing prices dramatically to rid themselves of an unprecedented number of foreclosed properties, sparking bidding wars in some places that harken back to the market’s go-go years and may signal the bottom is near.   The trend is more dramatic in some parts […]

Homes Sales Dip, Prices Down Sharply   The National Association of Realtors reported that sales by homeowners dipped in April to an annual pace of 4.89 million, down 1% from the revised March reading of 4.94 million.   The existing home sales rate – including single-family, townhomes, condominiums and co-ops – is 17.5% below the […]

Housing Starts Up 8.2%   Construction of new homes posted the biggest increase in more than two years in April and applications for new building permits turned up for the first time in five months, a rare bit of good news in what has been the worst downturn in housing in more than two decades. […]

Walkaway Homeowners: Fact or Fiction?   U.S. lenders claim people who owe more on their homes than they’re worth are simply abandoning them, "walking away" from high mortgage payments.   Bankers say the trend is frightening because homeowners in the past have gone to great lengths to avoid foreclosure.   But the Los Angeles Times […]

Consumer Confidence: Worst Since ’92   A key measure of consumer confidence dropped in May to the lowest level in 16 years, as Americans grew more concerned about their jobs and more pessimistic about business conditions. The index has now declined for five months in a row.   The Consumer Confidence Index is a weighted […]

Home Appraisals: Changes on the Horizon?   A major legal brawl is breaking out over how homes are appraised, at what cost, and by whom. The outcome could directly affect the price you pay for your next piece of real estate, and the amount of mortgage money you can obtain.   The fight centers on […]

Housing Inventory Up Again in April   The number of homes for sale was on the rise again in April. Nationally, inventories expanded 3.5% last month overall and were up 6% over the same period last year.   Even some markets that used to be considered bulletproof have seen inventories grow and these bloated inventories […]

Vacant Homes for Sale Hit a New Record High   The percentage of vacant homes for sale in the United States set a new record high in the first quarter of this year.   The Census Bureau report released recently shows that 2.9% of U.S. homes — excluding rental properties — were vacant and up […]

Gas Prices Continue to Spike   The average price of gasoline has jumped another 15 cents over the past two weeks to a national average of $3.62 per gallon of self-serve regular, according to a national survey.  That rise continued at virtually the same rate as the previous two weeks, and forecasts are, it will […]