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Fed caught in economic tug of war

By Lou Barnes, Thursday, April 29, 2004.

Inflation data and deepening worries about the Fed's intentions have taken mortgage rates higher again.

A one-point loan fee (whether called "origination," or described in plain English) will still get a 5.87 percent 30-year rate, but the low-fee deals are almost to 6.25 percent, up from the March low at 5.37 percent. The adjustable-rate-mortgage market is worse: a point will buy a Fannie/Freddie 5-year at 4.62 percent now, more than a percent north of the March low.  more...

Computers can spy on real estate agents

By Bernice Ross, Thursday, April 29, 2004.

(Part 2 of a three-part series. See Parts 1 and 3.)

If you think viruses, worms and spam are a problem, what you're about to read is genuinely frightening.  more...

How to avoid buying bad real estate

By Robert Bruss, Thursday, April 29, 2004.

Ask any experienced residential real estate attorney about his or her most difficult case. The answer will probably involve a "bad house." While not exactly a legal term, a bad house is one where the buyer alleges the seller knew about a serious structural defect, but failed to disclose it to the buyer before purchase.

Proving the seller knew of the undisclosed defect, which the buyer usually discovers shortly after the purchase, can be very difficult.  more...

Real estate repairs a springtime priority

By Paul Bianchina, Thursday, April 29, 2004.

The sun is starting to shine brighter and you're beginning to get anxious to get out there and do something. One way you can do yourself and your house a favor is spend a day touring around outside, and make a list of projects that have been necessitated by winter's harsh presence. Here are some suggestions for your spring checklist:

  • Windows: The bugs are coming, and so is the warm weather. Check each window screen for damage, and repair or re-screen them as necessary.  more...

Bungalow addition creates real estate quandary

By Arrol Gellner, Thursday, April 29, 2004.

As the 19th century drew to a close, women were making it clear that they were fed up with the overblown proportions, labyrinthine floor plans and acres of dust-catching ornament in their Victorian houses. Magazines such as Good Housekeeping began advocating simplicity, efficiency and modesty as the new watchwords for residential design.

In keeping with this drastic reversal in domestic ideals, the humble little bungalow became the new century's antidote to Victorian pomposity.  more...

Why seller financing is best way to buy home

By Robert Bruss, Wednesday, April 28, 2004.

DEAR BOB: We built a house on my wife's parents' 20-acre property. Their money was used to finance construction with the intent of our buying it from them when the house was completed. It is now almost finished. What is the best way to transfer ownership to my wife and me? The parents have the financial means to carry the mortgage, if that's good for us. What about the legal matters? – Dale C.

DEAR DALE: Congratulations on choosing your in-laws very well.  more...

Can commercial landlord raise rent based on new subtenant?

By Robert Griswold, Wednesday, April 28, 2004.

Question: I have been leasing an office for the past year. Since I typically use my office only four days a week I informed the landlord that a professional counseling peer and friend of mine was interested in the possibility of sharing my office. We have worked out our schedules so that they would only be using my office the one day a week that I am out of the office. The landlord said that he would need to raise my rent since the office would be used more and there would be increased use of electricity. Is this legal?  more...

Is contract clause waiving a jury trial enforceable?

By Robert Bruss, Tuesday, April 27, 2004.

Grafton Partners hired accounting firm PricewaterhouseCoopers as its independent auditor.  more...

Vegetables, lead paint don't mix

By Bill and Kevin Burnett, Tuesday, April 27, 2004.

Q: I have some space behind my garage where I could raise some vegetables, but I was advised not to do this because the garage has crumbling lead paint on it.

My yardman, who is a shipyard painter in his regular job, has told me that he can remove the paint. Would it be unethical to let him do this?

I would like to ask him some pertinent questions about his methods, but his English is limited, and I don't think he would understand me.  more...

Newbie real estate investor seeks free money

By Robert Bruss, Tuesday, April 27, 2004.

DEAR BOB: My mother-in-law has her 20-acre horse farm, home, duplex and barn for sale. She paid $80,000 and will probably sell it for about $450,000. She has made several improvements. There is only a small equity loan. To avoid capital gains tax, can she get a loan to pay off her credit cards so the gain won't be so large and taxable? She is nearly 65 with no retirement assets other than this farm. What should she do? – Bonita H.?

DEAR BONITA: Congratulations on helping your mother-in-law.  more...

Bankruptcy jeopardizes real estate assets

By Robert Bruss, Monday, April 26, 2004.

DEAR BOB: I am a single mother who owes about $27,000 in credit-card debt. I also owe $177,650 on my home mortgage. It is my primary residence. Can I file bankruptcy without including my mortgage so I won't lose my home? – Fabiana B.

DEAR FABIANA: Please don't file bankruptcy unless you fully understand the adverse consequences. Your credit will be ruined for at least two years, usually longer.  more...

Real-estate handbook fails to inform

By Robert Bruss, Monday, April 26, 2004.

Long-time real estate author Andrew James McLean's latest book "The Home Buyer's Advisor" is not up to the standards of his previous books. This new book goes through the motions of explaining home-purchase fundamentals, but it is out of touch with the realities of today's home-sales marketplace.

For example, McLean begins with the home-buyer basics of saving for a down payment by cutting down on expenses and using credit wisely. That's fine. But meanwhile, as U.S.  more...

Mortgage market 'driving blind' on defect disclosure

By Barry Stone, Monday, April 26, 2004.

Dear Barry,

As a mortgage broker, I'm concerned that home inspection reports are never included with a loan application. This risky pattern of mission came into focus last week when I hired a home inspector for a house I'm buying. My inspector found construction defects and safety violations in a home that is only 3 years old and appears in perfect condition.  more...

Should senior citizen get reverse mortgage or home equity loan?

By Robert Bruss, Sunday, April 25, 2004.

Dear Bob,

I am one of those senior citizens (age 79) you often write about who is house-rich but cash-poor. My home, which I dearly love, is worth at least $500,000. Since my husband passed away about four years ago, I realize what a valuable asset my home is because it has no mortgage. Where could I live so cheaply? My only household expenses are maintenance, utilities, insurance and dreaded property taxes.

Unfortunately, when my husband died, his generous pension died, too.  more...

What should I know that a real estate agent might not tell me?

By Dian Hymer, Sunday, April 25, 2004.

Selecting a real estate agent to represent you in a home purchase or sale can be one of the most important decisions you make. There are obvious considerations, such as choosing a reputable agent with experience in the area where you want to buy or sell. Here are a few not-so-obvious points to keep in mind.

One of the biggest complaints made about real estate agents is that they don't communicate often enough. Make sure before you commit to working with an agent that you know how often you can expect updates.  more...

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