Update: June 16. 2021. According to the National Association of Realtors, the U.S. is now short between 5 million and 6.8 million housing units. A new study has called for a "once in a generation" governmental response to push builders to add more single family homes, townhomes, condos, multi-family and rental properties. "We're four [...]
What can you do if your mortgage is underwater? This homeowner wants to know if she can foreclose and move on, but that should only be her last resort. Q: I am a widow in my 70s and my mortgage is underwater. Can I just let the bank foreclose and move on? I don't want [...]
Real estate market recap for 2020 and housing outlook for 2021. An overview of how COVID-19 impacted real estate in 2020 and what to expect in 2021. Safe to say that 2020 will go down in history as a year like no other. Even, or perhaps especially, in real estate. Real Estate Market Recap for [...]
How to manage inherited property split between siblings. This reader wants to either buy his sister out or sell the property, but she refuses. Q: My boyfriend’s mother died several months back. He wants to either buy his sister out or sell the property, but his sister has refused his verbal requests to buy her [...]
3 financial resolutions for 2021. Three tips to help improve your personal finances and prepare for economic uncertainty in the new year. Here’s a guess: there aren’t many of us who’d care to redo 2020. COVID-19, the novel coronavirus, changed everything, killing more than 365,000 Americans (as of this writing in early January) and taking [...]
How do I avoid capital gains tax for jointly owned property? This reader wants to know how best to go about using the home sale exclusion when they sell the property. Q: My wife and I own our home jointly. The home has appreciated substantially in the 25 years we have owned it to the [...]
Buying a duplex with friends: primary residence or investment property? This reader wants to know how taxes work if all four of them are on the financing and title. Q: My partner and I plan to purchase a duplex with friends. We would live on one side, and our friends (who already own their forever [...]
Can you have three joint tenants with rights of survivorship? This reader wants to know if it’s legal to add a third person to the title of their home. Q: There are two of us on the title of a home. We own the home as joint tenants with rights of survivorship. Is it legal [...]
How much should an HOA have in reserves? This reader wants to know how much an HOA should have in reserves and what happens if it’s too much. Q: Can a homeowners association have too much cash in reserves? If they do, what are the consequences? How Much Should an HOA Have in Reserves? A: [...]
How do I overturn an HOA decision? This reader doesn’t agree with a decision the HOA board made and wants to know if they have any recourse. Q: The association board of my building wants to take down basic pine trees behind my unit. The trees are healthy and provide no danger to the building. [...]
