Because anti-growth regulations prohibit wineries from establishing new tasting rooms on county land, entrepreneurs flocked within Napa city limits, and now these tasting rooms are some of the hottest gathering spots in town.
My favorite was Vintner’s Collective, housed in the city’s oldest commercial building, an 1875-built brewery and, later, a saloon and brothel. Here visitors can sample 18 wineries, some of which release wines in remarkably limited quantities (as few as 75 cases) and high prices (up to $75 a bottle). For novices, it’s a chance to sample expensive, obscure wines.”
The featured winery on my last visit was Vinoce Vineyards
Biography [Read more…]
Tax relief on mortgage debt forgiveness ends in 2013, so hurry
The tax-relief law allows homeowners to exclude from income certain debts forgiven by their lenders. The tax break expires Dec. 31, 2012, but keep in mind that a short sale or foreclosure can take many months.
Reporting From Washington — The window is closing rapidly on one of the most important tax-relief provisions enacted by Congress during the housing crisis to help financially strapped homeowners. [Read more…]
The 15 Best Housing Markets For The Next Five Years
American home prices are expected to decline 1 percent from now through March 2013, according to the latest home price report by Fiserv Case-Shiller.
But over the next five years, home prices are projected to rise 3.9 percent.
We drew on Fiserv Case-Shiller data to identify the best housing markets for the next five years.
The top 15 cities are ranked by the projected annualized change in home prices between Q1 2012 and Q1 2017.
We also included the median home price, median household income, unemployment rate, and the change in home prices since their peak to give a better understanding of the local economy and housing market.
Note: The median family income and home price data is for Q1 2012. Unemployment data is for May 2012, and population data is for 2011.
Read more:
Flood of foreclosures to hit the housing market
NEW YORK (CNNMoney) — The golden age for foreclosure squatters may soon be coming to an end now that the $26 billion mortgage settlement has been approved.
The settlement, agreed to by the nation’s five largest mortgage lenders, is expected to speed up the foreclosure process by providing stricter guidelines for the banks to follow when repossessing homes.
The banks involved include Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500), Citibank (C, Fortune 500), Wells Fargo (WFC, Fortune 500) and Ally Financial. [Read more…]
FHFA: No principal reductions on Fannie, Freddie loans
Financially strapped borrowers whose mortgages are backed by Fannie Mae and Freddie Mac will not be allowed principal reductions to help save their homes from foreclosure, a decision that will impact consumers as well as communities. Full Story:
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