Archive for the ‘Real Estate’ Category

Subprime is in the dictionary! W00t!

Wednesday, July 9th, 2008

I was a bit surprised to hear that the word subprime has just now made it into Merriam-Webster's Collegiate Dictionary. I guess it takes a full-blown crisis to get a word in edgewise. The "sub" refers to the quality of the loan rather than the rate, since the rates of ...

Desperate Housesellers

Monday, June 30th, 2008

This is impressive. Impressive how is the question: Single mom selling home, heart online Sound bite version: Forty-two-year-old single mother needs to sell her south Florida home -- and is offering her hand in marriage as part of the deal. First, it was free closing costs. Then it was free ...

Buy one house, get one free?!

Thursday, June 5th, 2008

Curiouser and curiouser the housing market gets. The San Diego Union-Tribune (via Smart Spending) reports that Michael Crews Development is giving away $400k Escondido row homes with the purchase of a $1.6M+ San Pasqual Valley estate home. That's a huge concession. Mark Connal, vice president of realty, says: We ...

Upside-down, still paying, and stuck

Saturday, May 17th, 2008

Free Money Finance posted a question from a reader who's paying on a house that's now worth less than what's owed on it. The reader is upside-down on his mortgage, but the mortgage is a 30-year fixed-rate, and he paid 20% down. It wasn't a teaser loan by ...