What Happens When A Property Is Worth Less Than The Date You Inherited It?
On the show today, we had a call from someone who wanted to know about selling a home his Dad owned in California. The son, a resident of Georgia, is the executor of his father's estate.
The son wanted to know how selling the property would affect his taxes. His father's total estate is worth less…
Maintain Property's Market Value In Property Swap
When you buy property at a reduced cost, will you risk lowering the market value of the property? A home owner asks about buying a property for less than what it's worth and selling his own property for a lower price. It's a good idea to work with an attorney to complete a property swap.
Quit Claim Deed Affects Cost Basis
How do you calculate cost basis on a home you receive through a quit claim deed? The type of home ownership is also a factor - for example joint tenancy. Learn how to do the calculation for cost basis and learn the rationale used to determine cost basis when families transfer home ownership using a…
What's A Comparative Market Analysis (CMA)?
When you're buying or selling a home, you want to get a comparative market analysis so you know the property value. In a comparative market analysis real estate agents compare the value of your property with that of similar properties. CMAs are used to determine at what price to list a property for…
Online Property Value Sites & Accuracy
Real estate information Web sites such as Zillow and Cyberhomes can be good tools for home buyers. However, the online property value listed may be inaccurate. View this Expert Real Estate Tips segment on how to navigate these sites and to learn tips to get a full picture of a property's value.
1031 Exchange: 3 Rules For Property
When you're doing a 1031 tax exchange you need to follow three rules for identifying property. The three property rule allows you to consider three replacement properties without taking their fair market value into account. If you're looking at more than three properties for a 1031 exchange, you may…
Does having a pool in a townhouse community raises the value of each townhouse. This depends on whether other local townhouse communities have pools. A pool will cost townhouse residents more in fees and upkeep, but if it's the only pool in the area it can help increase your townhouse's value.
Bad Appraisal Of Home Value Leads To Loss Of Earnest Money
Mortgage lenders require appraisals before issuing home loans. What happens if the home you want to buy appraises lower than what the seller wants? It depends on the contract. The buyer may lose his earnest money if the home does not appraise out and the seller is unwilling to lower the price. It's…
Will messy neighbors lower your property value? Here's the video from Good Morning America weekend edition!
http://abcnews.go.com/Video/playerIndex?id=5023439
June 8, 2008.
Pinpointing The Price Of Real Estate
Home sellers can't pick appraisers but they can learn how appraisals are calculated and what current market conditions are. It can be tough to appraise a home accurately in a declining real estate market. A good appraiser will dig deep to understand high sales.
Estate Planning Includes Determining Trustees
When parents want to bequest real estate to their children they may want to use a quit claim deed when a trust is the better option. When you set up a trust you have to figure out who will be the executor and who will be the beneficiaries. Learn about the benefits of placing a property in trust…
How To Calculate If A House Is Worth The Price
Properties that once cost $100,000 are selling for 10 to 12 times that sum. How do you determine the true value of a home? There are many reasons why properties that seem too good to be true are still on the market.
Inheriting A Portion Of A Property
What happens when you inherit a fraction of a property? How can you work with the other heirs in a buyout of the inheritance? Determining a fair price for inherited property can be tricky in an iffy real estate market.
Real Estate Investment Loses Value
Investing in real estate is not without risks. Buyers must beware when purchasing investment property -- there's no guarantee your real estate will increase in value. There's no one to blame when investment property doesn't appreciate the way you might have hoped.
ThinkGlink Radio Show for May 3, 2007
Real Estate Minute with Ilyce Glink Fight Your Property tax Assessment and Win -- At least half the time
Home Value And Condition Must Match Price
Once you figure out how the condition of your home compares to other homes that are for sale in your neighborhood, and you decide whether you're willing to fix it up for sale, you can turn your attention to pricing your property. To get the most money for your home, you should make it shine. Fix the…
Wait To Transfer Property Through Inheritance
It is probably better to transfer property through inheritance, rather than gifting or quit claiming the property. With inheritance, the property will be transferred at the market value of the day of the land, and both parties will avoid a big tax bill.
Buying Most Expensive Home On Block
Everyone knows they shouldn't buy the most expensive home on the block but what if it is new construction? Most buyers want a new construction home and the competition upon selling it will be homes even newer than the home you want to purchase now. It's tough to tell how homes will appreciate in a…
Seller Disclosure May Include Septic System Problems
When you buy a home and the home seller fails to tell you about problems with the home, the seller may have violated the concept of seller disclosure. Seller disclosure laws vary by state and to fully understand your recourse you should contact a real estate attorney. The seller may be liable for…
Flipping Real Estate In Down Market
What should you do when you were into flipping real estate and it's no longer profitable? Flipping real estate is less profitable when home market values go down. When the real estate market declines you should do your best to continue making mortgage payments so your credit doesn't get damaged.
Is Zillow.com Redlining Black And Latino Neighborhoods?
The thing I've always loved about the Internet is that it's by and large color blind. Whoever you are, whatever you do, you could go anywhere, tap into any base of knowledge and avail yourself of all resources that are available online.
But now some folks think that the Internet color-free zone may…
Real Estate Minute: How To Compare Incentives From Builders
Real Estate Minute with Ilyce Glink How To Compare Incentives From Builders Original Air Date: October 10, 2006
Real Estate Minute: Median Prices are Falling, But That Doesn’t Mean Houses Aren’t Selling
Real Estate Minute with Ilyce Glink Median Prices are Falling, But That Doesn’t Mean Houses Aren’t Selling Original Air Date: October 4, 2006
I received this email last night:
I always enjoy your concise accurate info on so many subjects from you. I've heard there's a web site that has info on what homes have sold for recently in various parts of the country, do you know of one?
These days, everyone is flocking to Zillow.com, for somewhat…
Figuring Capital Gains Tax On Inherited Property
When you inherit property you inherit it at the market value of the property the day the person who owned it died. This market value is your cost basis when you calculate taxes while selling the property. In addition to federal capital gains taxes you'll likely have to pay state taxes on the sale of…
