Selling residential property has become quite tough these days. Moreover, in the winters, due to the cold, dark and unpredictable weather, property selling becomes further more difficult.  Selling off property during the summer season is far easier compared to the winters.

In case, you have no other option and have to go for a winter open house to sell off your property, here are 5 tips on which you can bank upon:

1. Turn up the heat: Your house need not be hot but then it shouldn’t be cold as well. You should always remember that if your buyers shiver at your open house, then your may forget selling off that home. Open houses are not the right time to save on your heating bill. So make sure that your house has the required heating when you arrange for an open house.
2. Shovel off the snow: You should make sure that your walkway to the property is clear of snow. If the walkway is not clear, then your buyer may slip and slide while walking through it and you may end up losing your buyers.  Apart from this, you should also arrange for a parking place for the buyers who will attend your open house. You should also shovel off the snow from that parking place as well.
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If you’re thinking of buying a home, then I personally think that this is the best time to do so as this is still a buyers’ market. The low prices and low mortgage rates are here to remain for some more time. Those who wanted to refinance their home for quite sometime now, can also go for it now as the rates are quite low now.  Some of the housing and mortgage trends you can expect to see in the first quarter of 2012 are listed below:

1. Property prices begin to become stable: The property prices have bottomed out in most of the areas. So, it is expected that henceforth, the property prices will begin to become stable. Many housing experts are also of the opinion that there’s not much room for prices to drop down further. So, this can be a great time to buy your dream home.
2. Refinance may increase due to new HARP: Underwater borrowers have always remained tensed and have anxiously awaited for the day when they will be able to benefit from low mortgage rates. They won’t have to wait much longer. The New Home Affordable Refinance Program or HARP 2.0 will allow borrowers to refinance and get a low mortgage rate irrespective of how much underwater they are.
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Have you moved to US and looking for an apartment to take on lease? If yes, then you should know that it may be difficult for you to do so without a credit record. However, it doesn’t mean that you cannot get a suitable apartment to stay. Go through this article to know how you can take a suitable apartment on rent without a credit record or even before you get your Social Security Number or SSN.

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The Internal Revenue Service (IRS) opened the 2012 electronic tax return filing season on 17th January, 2012. This is a reminder to the taxpayers that the best way to get quick refunds and tax returns is to e-file their taxes.  It should be noted here that tax returns can be e-filed in the following three ways:

• Through a tax return preparer
• Through self-preparation software
• Through IRS Free File

This e-filing facility has gained immense popularity in the recent times and has surpassed the milestone of 1 billion returns processed. It is estimated that more than 112 million income tax returns were e-filed last year.
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The housing market as well as mortgage lending rules have gone through lot of changes in the recent times. Though certain traditional mortgage advice will still remain the same, buyers have to be savvy enough when they want to buy a property and take out a mortgage for the first time.

Here are 4 tips which might be of great help to first time buyers when they plan to buy a property:

1. Loan type: Though conventional and FHA loans, both are available, FHA loans which are insured by the Federal Housing Administration is a common choice for first time homebuyers. FHA loans have reasonable rules and guidelines and require low credit score and down payment. Such loans are available at a down payment of 3.5%. However, in the recent times, FHA has increased the annual premium for mortgage insurance. Conventional loans with PMI (private mortgage insurance) can be a cheaper choice for first time homebuyers.
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Selling a house can be a gruelling task in the present market. Things can be more difficult for first-time sellers who have never been through the process before. They should keep few things in mind when they are planning to sell off their property.

Here are 5 tips which may help first time home sellers to sell off their property easily:

1. Promote the property: In order to reach the interested buyers, you will have to promote the property. When you place an ad for selling off the property in your local newspaper or a website, never forget to mention your phone number. When an interested buyer gives you a call, be ready to provide details and answer their queries. Also, when you list your property for sale, provide lots of photos. Clear and professional-quality pictures of your house will make it easier for you to sell off the property.

2. Price the house competitively: If you price your property realistically, it will make things easier for you. Once you list your property in the market, you’ll find that most of the buyers will come and visit your property within the first 2-3 weeks. You should ask your real estate agent to give you a comprehensive list of initial asking prices of nearby homes. Depending upon that, you will be able to price your house competitively. A competitive price can provide you with a winning offer.
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As per a recent survey by Trulia Inc. and RealtyTrac Inc., the real estate/housing market won’t recover until 2014. The survey took place in the month of April and the respondents were the homeowners and renters based at different states.

Why won’t the market improve?
The housing market is still quite weak. The demand for a home loan still remains low and it has become quite difficult to qualify for a loan. Though the rates and home prices are at record low, still it’s failing to boost the demand for properties. The expiration of Federal Tax Credit last year has also added to this. Moreover, a large number of properties are facing foreclosure which will further have a negative affect on the property values.
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The Treasury and the Department of Housing and Development have finally come up with some straight talk regarding the mortgage system of the nation. The Obama Administration has finally gone on record to say that Fannie Mae and Freddie Mac should go out of the mortgage business. As per the Obama Administration’s proposals, Fannie Mae and Freddie Mac should wind down within the next five to seven years.

How will it affect our lives?
It is not clear how such a move will affect our lives. Though it is a sensible move, no one is sure whether or not it will be enough to prevent taxpayers from having to bail out institutions who will back mortgages in the future. It should be noted that our financial services industry is used to taxpayers ride to the rescue when it gets into trouble.

There are some important groups which are lining up against significant reductions in the government’s role in the mortgage industry. These include the likes of:

• Mortgage Bankers Association
• The Financial Services Roundtable
• The Center for American Progress

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Anti-government protests are increasing in Egypt day by day. However, the outcome of the bloody demonstrations in Egypt remains unclear. In the meantime, the United States is condemning the violence and has urged Hosni Mubarak, the present President of Egypt, to step down.

Can Egypt’s political situation affect the U.S. economy?

The turmoil in Egypt has already affected the U.S economy. Oil prices have been increasing in the past two weeks. Rising in oil prices will hold back the economic growth of the country. Apart from this, the bloody demonstrations in Egypt has increased risk premiums on shipping insurance which will in turn further increase the cost of oil and gas imports.

The political unrest in Egypt has increased the concerns about the operations in the region of Suez Canal. This is an important point between the Mediterranean and the Middle East and Asia for petroleum products and other types of cargo.

Could the US military get involved in this turmoil?

It is quite unlikely that the US military will get involved in the political unrest. The present protests in Egypt will not pose any direct threat to the United States. Also, it has been noted that the United States does not want to interfere with the democratic aspirations of the common people.
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Due to the crisis in the real estate market, foreclosures have increased manifold. As a result, title insurance has suddenly become a hot topic, especially for the mortgage lenders. Whether you’re buying a new property or a foreclosed property, the lenders will require title insurance to issue a mortgage. Due to the increase in foreclosures, the title insurance companies are re-examining if they should cover homes or how they should cover homes that have gone through foreclosure.

Let’s take a look at what title insurance is all about.

Title insurance: What does it do?
This is a type of insurance which will safeguard your claim to a home. When you go for a title search, the title company will actually search to find out if anyone else has any claims over the property. Problems related to the title are normally resolved before the closing of the loan. If you’re purchasing a foreclosed home and if the title company is not satisfied with what it sees, then you may not get an insurance policy.
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