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Residential Real Estate News & Articles

 
 
The following is the latest news and articles related to residential real estate issues. To find local news and articles, please visit our state residential real estate resources.

For regional news articles, please visit state residential real estate resources.

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The garage is not considered in the square footage of a home.
A garage that is attached to the home is not considered part of the home's square footage.  Only livable space is considered in the square footage calculation.

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RESPA protects certain types of transactions.

Federally related mortgage loan transactions, such as loans secured by a lien on residential property. This includes: refinances, home purchase loans, lender approved assumptions, equity lines of credit, property improvement loans, and reverse mortgages.

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According to real estate case law, second mortgage tax deduction on undeveloped land is not allowed.

Real estate case law states that you must have begun construction of a building on the land that and occupied within 24 months to submit a tax deduction. Otherwise, the land is an investment and the interest paid on the second mortgage does not qualify.

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