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An early au revoir for tenants

By Alison Rogers, Sunday, August 3, 2008.

I have a sales listing that, after a few months, has still not gone to contract. We have had offers at the right price that didn't get financing, and some lowball offers we didn't take. I am very interested in getting my seller his top price -- so frankly, I was looking forward to the renters moving out so I could show it empty.

Wednesday: I call to see if I can show the unit the next day. "No," said the tenant. "We're going back to Europe. The movers will be here that day and the next. We'll be out Friday."  more...

Know your real estate consumer Premium Content

By Inman News, Sunday, August 3, 2008.

There are 67 million people looking to buy, sell, rent or finance a home on the Internet, but real estate professionals who want to land their business should look at them as four distinct audience segments.

That's the rather wonkish takeaway of a white paper commissioned by Yahoo Real Estate, "Embracing the Online Real Estate Market," which also offers loads of practical advice about marketing to each group.  more...

Sellers use disclosure to their advantage

By Dian Hymer, Sunday, August 3, 2008.

Forty years ago, seller disclosures weren't part of the home-buying process. The rule of the game was buyer beware.

Now most states have seller disclosure requirements, although they vary from one state to the next. Consult with a Realtor, the Department of Real Estate, or a real estate attorney in the area where you're buying or selling if you have questions about what a seller is required to disclose.  more...

Is down-payment gift taxable income?

By Benny Kass, Sunday, August 3, 2008.

DEAR BENNY: In January I lent my daughter $20,000 so she could use it as a down payment on her condominium unit. She gave me a promissory note. I took the money out of my retirement account (I am retired). My tax person said this will be added to my yearly income and I have to claim it as my income. I have a friend who works as a loan officer at a bank; she said I just have to claim the interest. Who is right? --Linda  more...

Mortgage crisis drives home value of PMI

By Jack Guttentag, Sunday, August 3, 2008.

The blame game for the development of the current mortgage crisis is now in full swing, and, with one exception, no major participant escapes unscathed:

  • Lenders and investment bankers drastically relaxed their underwriting standards in response to the euphoria associated with rapidly rising home prices during 2000-2006. They approved loans that could not possibly be repaid without an indefinite continuation of house-price inflation.  more...