For anyone approaching retirement, now could be a great time to move.
Here are some tips for Boomers considering downsizing:
*Don’t miss out on the $6,500 move-up tax credit. *Consider a short-distance move if it provides savings and convenience. *Anyone moving out of state should figure the tax consequences in their new location. *Consider a property that offers features allowing Boomers to age gracefully. *Think about sharing space with a younger (or older) family member. *Insist on good security in the new property. *Look for homes that don’t require a lot of maintenance. *Go green. It will pay off down the road.
Source: Forbes, Ashlea Ebeling (03/16/2010)
Fed To Stop Buying MBS The Federal Reserve renewed its commitment to keep key interest rates near zero for an “extended period,” but also confirmed that it will stop buying mortgage-backed securities at the end of March.
The Fed, whose regular meeting began Tuesday, said that “housing starts have been flat at depressed levels” and “employers remain reluctant to add to payrolls” as a reason for extending the cap on interest rates.
“The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to promote economic recovery and price stability,” the Federal Open Market Committee statement said.
Source: Bloomberg, Craig Torres and Scott Lanman (03/16/2010)
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