Homebuilder Lennar Corp. has reported a larger-than-expected loss for its fiscal third quarter, blaming its financial outcome on sluggish home sales and the weak economy in general. However, Lennar has expressed optimism that it will be able to return to profitability by the next fiscal year on the back of improving orders and a significant backlog.
 
Lennar’s marked optimism comes as a surprise to many analysts at a time when home builders are suffering through one of the worst industry downturns in decades. The signs of recovery in the home market have started to appear, though, with potential homebuyers encouraged by …read more

As part of the Obama administration’s commitment to helping every American find a place to live, the government has been offering what essentially boils down to up to $8,000 of free money. Buyers who close by November 30th are eligible for this tax credit, one that is worth up to 10 percent of the home’s purchase price.
 
Purchasing a home before Nov. 30 is not the only requirement, though. The home you are buying has to be your first home or the first home you have owned in three years. Single buyers must have a modified adjusted gross income (MADI) of …read more