Monthly Archives: October 2008
Sales of Existing Homes Increase
The number of existing homes that sold during the month of September rose 5.5 percent, according to the National Association of Realtors. The pace was…
Notify Mortgage Company When Changing Status Of Second Home
Mortgage companies often issue loans contingent upon how the home will be used — will it be a primary residence or a second home? Do you need to notify your mortgage company if you decides to change the status of a second home? In some cases mortgage loan documents contain a time limit for notifying mortgage companies about home status changes.
BusinessWeek.com: Trading Park Avenue for Park Slope
I’m quoted in today’s BusinessWeek.com story (http://www.businessweek.com/lifestyle/content/oct2008/bw20081023_281059.htm?chan=top+news_top+news+index…
Mistakes Home Buyers Make
In my best-selling book, 100 Questions Every First-Time Home Buyer Should Ask, I include a list of 10 mistake home buyers often make. I should probabl…
Stock Market Troubles: It’s Hard To Keep The Faith When Your 401(k) Is Evaporating
It was shocking to hear former Federal Reserve Bank Alan Greenspan admit he recognized a “flaw” in his logic and reasoning. So, he thought banks would…
Use HELOC Or Investments To Pay For Senior Living?
A senior must pay for his senior living community in a short period of time, but the value of his retirement and other investments dropped dramatically. His daughter has offered to use her home equity line of credit to help pay for his retirement living. If the daughter uses her equity to pay for her father’s retirement living, she should ensure his will states that she will be repaid for the loan.
Small Houses Can Save You Money
Architect Sarah Susanka’s small house concept from her “Not So Big House” series seems like a really good idea. Small houses may become more popular as the economy declines. A small house can actually save you money.
House Title Changes In Probate
What happens to a home after a home owner dies without a will. How can a house title change when there’s no will? The home will go through probate and the distribution of the estate will depend on state law. Probate will likely result in the home being jointly owned by the siblings. Learn what happens to a home when the home owner has no will here.
Hire Real Estate Attorney To Help Buy Property
A property buyer can’t be present at the closing of his purchase, and wants to know if an attorney should be there in his place. Having an attorney at the closing will ensure the buyer’s interests are represented, legal documents are drawn and that the money flows properly at the closing. An attorney can also ensure that the buyer’s plan for the property can be executed as he wants and avoid problems later.
1031 Exchange: Real Estate Market Conditions Affect Deadlines
A 1031 exchange allows you to buy and sell investment property including real estate and defer paying taxes to the IRS. Real estate market conditions may make it harder to sell the old property and potentially prevent a successful 1031 exchange. Learn how real estate market conditions can affect a 1031 tax exchange or Starker exchange and why a reverse exchange may be effective in this housing market.
