EXHIBIT 99.1

[AMERICAN HOME MORTGAGE LOGO]



FOR IMMEDIATE RELEASE

    AMERICAN HOME MORTGAGE INVESTMENT CORP. ANNOUNCES PROPOSED OFFERING OF
      2,000,000 SHARES OF SERIES B CUMULATIVE REDEEMABLE PREFERRED STOCK

MELVILLE, N.Y. - NOVEMBER 30, 2004 - American Home Mortgage Investment Corp.
(NYSE: AHM), a mortgage real estate investment trust (REIT), today announced
that it is commencing a proposed offering of 2,000,000 shares of Series B
Cumulative Redeemable Preferred Stock pursuant to its shelf registration
statement. The Company has also granted the underwriters an option to purchase
an additional 300,000 shares of Series B Cumulative Redeemable Preferred Stock
to cover over-allotments, if any.

The offering is being lead managed by Friedman, Billings, Ramsey & Co., Inc.
Stifel Nicolaus & Company, Incorporated, RBC Capital Markets and Advest, Inc.
will serve as co-managers. The shares are being offered pursuant to an effective
shelf registration statement filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. Any offer will be
made, if at all, only by the means of the prospectus, including the prospectus
supplement, which forms a part of the effective registration statement. When
available, copies of the prospectus for the offering may be obtained by
contacting Friedman, Billings, Ramsey & Co., Inc. at 1001 19th Street North,
Arlington, Virginia 22209.

American Home Mortgage Investment Corp. is a mortgage REIT focused on earning
net interest income from self-originated mortgage backed securities, and through
its taxable subsidiaries, from originating and servicing mortgage loans for
institutional investors. Mortgages are originated through a network of loan
production offices as well as through mortgage brokers and are serviced at the
Company's Columbia, Maryland servicing center. For additional information,
please visit the Company's website at www.americanhm.com.

This news release contains statements about future events and expectations,
which are "forward-looking statements." Any statement in this release that is
not a statement of historical fact, including, but not limited to, earnings
guidance and forecasts, projections of financial results, and expected future
financial position, dividends and dividend plans or business strategy, is a
forward-looking statement. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause American Home
Mortgage Investment Corp.'s actual results to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Specific factors that might cause such a difference
include, but are not limited to: American Home Mortgage Investment Corp.'s
limited operating history with respect to its portfolio strategy; the potential
fluctuations in American Home Mortgage Investment Corp.'s operating results;
American Home Mortgage Investment Corp.'s potential need for additional capital;
the direction of interest rates and their subsequent effect on American Home
Mortgage Investment Corp.'s business and the business of its subsidiaries; risks
associated with the use of leverage; changes in federal and state tax laws
affecting REITs; federal and state regulation of mortgage banking; and those
risks and uncertainties discussed in filings made by American Home Mortgage
Investment Corp. with the Securities and Exchange Commission. Such
forward-looking statements are inherently uncertain, and stockholders must
recognize that actual results may differ from expectations. American Home
Mortgage Investment Corp. does not assume any responsibility, and expressly
disclaims any responsibility, to issue updates to any forward-looking statements
discussed in this press release, whether as a result of new information, future
events or otherwise.

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CONTACT:

Mary M. Feder
Vice President, Investor Relations
(631) 622-6469
mary.feder@americanhm.com