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Landlording advice, oversimplified

By Tara-Nicholle Nelson, Tuesday, June 9, 2009.

The premise of this book is simple: Those who can't sell, rent. Almost as obvious (and accurate) is the subtext that "accidental landlords" need a primer on investment property ownership, from cash-flow analysis to property management, and all points in between.

In its effort to be a simple, accessible and educational initiation to the basic concepts involved in owning a rental property, this book is successful. But for a novice landlord looking for guidance and tools, I would describe this book as a nice first step on a longer crash course in being a landlord, as you'll definitely need to reference more comprehensive, locality-specific and detailed guides.  more...

Back out of deal, forfeit 3%

By Bernice Ross, Tuesday, June 9, 2009.
Illustration by <a href="http://www.flickr.com/photos/hikingartist/3000884104/" target=blank>Frits Ahlefeldt-Laurvig</a>.

DEAR BERNICE: We are buying our first home in California. Prices have finally come down to where we can afford them. Our agent asked us to review the purchase agreement now so that we wouldn't feel rushed when we are ready to write an offer. One of the provisions called for "liquidated damages." I've never heard of that before. Is this something we should agree to? --Sam K.

DEAR SAM: Congratulations on buying your first home. The "liquidated damages" provision allows the buyer and the seller to agree in advance as to the amount of damages that will be paid in the event of a breach to buy or sell real property.  more...

Why homeowners bury St. Joe

By Marcie Geffner, Tuesday, June 9, 2009.

He's back. He's buried. He's upside-down. How perfect. Or, alternatively, how weird.

"He" is of course St. Joseph, the patron of carpenters, who may be buried in a front yard near you at this very moment.

No one seems to know how this tradition got started, nor is there much agreement about the ritual itself. But in essence, the idea is that home sellers bury St. Joseph -- in statue form, of course -- in the front yard, say a prayer and, voila, a speedy sale is assured, even if their home has been on the market for months at a price that hasn't been seen in years.  more...

Skeptical of seller disclosures

By Barry Stone, Tuesday, June 9, 2009.

DEAR BARRY: In several of your past columns, buyers had alleged that the sellers deliberately withheld disclosure of known defects. How can a buyer determine whether a seller did or did not know about a particular problem? --Joe

DEAR JOE: The short and simple answer is that buyers often do not know when nondisclosure is intentional or innocent. Each situation has its own unique variables, so let's consider some possibilities.

As most people know, sellers must provide buyers with a written disclosure statement of all known property defects.  more...

Real estate on Twitter: TweetLister Premium Content

By Gahlord Dewald, Tuesday, June 9, 2009.

 

By GAHLORD DEWALD

In my previous column I discussed the use of an editorial calendar to make Twitter more manageable. The ability to schedule promotions on Twitter helps you compartmentalize your time while continuing to push out relevant information.  more...

Expert expects tight credit through 2010 Premium Content

By Patrick S. Duffy, Tuesday, June 9, 2009.
Real Estate and the Financial Crisis

When Anthony Downs, a Stanford-educated economist and well-known real estate writer, was finishing up his latest book, "Real Estate and the Financial Crisis: How Turmoil in the Capital Markets is Restructuring Real Estate Finance," the turmoil was so great that he had to revise his draft six times before submitting it for publication.

But I'm glad he did, because for anyone seeking to gain a comprehensive understanding of the historical economic and political trends which have led us to the current day, this book could be a good fit.  more...

RE/MAX has national TV to itself

By Inman News, Tuesday, June 9, 2009.

RE/MAX International Inc. was the only real estate franchise promoting its brand in national television advertisements during the first three months of the year, the company said in announcing a new series of 30-second spots.

Last year, RE/MAX had a 50 percent share of national TV ad impressions generated by real estate franchises, the company said, citing figures from Nielsen Monitor-Plus.Century 21 was next with 23 percent, followed by Coldwell Banker (21 percent) and ERA and Prudential, which each had 3 percent of national TV ad impressions in the category.  more...

Laying claim to real estate domains Premium Content

By Matt Carter, Tuesday, June 9, 2009.

The auctioneer's gavel is scheduled to fall on more than 2,600 properties Thursday in San Francisco, but these "properties" aren't homes or land -- they're "geotargeted" real estate-related Web site domain names that incorporate the names of cities and places around the U.S. and the world.

Domain name auctions are commonplace, but it's "extremely rare" for this many real estate-related domain names to be offered for sale together, according to Moniker, the company that will handle the transfer of the names after the auction.  more...

 
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