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Commission-saving book a blessing for home sellers

By Robert Bruss, Tuesday, June 1, 2004.

Despite the title of Robert Irwin's new book, real estate agents have nothing to fear from "Sell Your Home and Save Thousands on the Commission." At first I thought it was about how to sell a home without a real estate agent. Wrong! Then I thought it was about how to cut the realty agent's sales commission when listing a home for sale. Wrong again.  more...

Are interest-only mortgages good for retirees?

By Jack Guttentag, Tuesday, June 1, 2004.

"Does it make sense to use an interest-only loan to buy the home of our dreams? We feel that is the only way we will be able to afford it. We are near retirement age and will have significant equity in the house, but our income isn't large enough to afford more than the interest payment. I feel that in case of an emergency, we could apply for a reverse mortgage."  more...

Real estate not always secured with highest bid

By Dian Hymer, Tuesday, June 1, 2004.

Most sellers would be delighted to receive multiple offers. However, figuring out which offer to accept is not always as simple as you might think.

Suppose you receive three offers. One is for $495,000: your asking price. Another is for $10,000 more. And the highest offer is for $525,000–$30,000 over the list price. If you look at price alone, you'd have no reservations about accepting the highest offer.  more...

Inherited real estate faces capital-gains nightmare

By Robert Bruss, Tuesday, June 1, 2004.

DEAR BOB: I read with great interest your recent item about stepped-up basis on inherited property. My father-in-law recently passed away. My mother-in-law intends to stay in the house, which was built by her father in 1923. Should we at this time get an appraisal to establish her stepped-up basis due to my father-in-law's passing? My mother-in-law's will says when she dies the house will go to her three surviving children. Will there then be another new stepped-up basis? – Paul D.  more...

The mold scare: reaction vs. reality

By Barry Stone, Tuesday, June 1, 2004.

Dear Barry,

Do you think the mold issue has been exaggerated? I do. Mold has been on the earth for millions of years. How is it that all of a sudden, last year, mold became so toxic that people are now tearing down their homes, ripping out sheetrock, pulling out their hair, and spending untold millions annually on mold inspections and repairs. What is the source of this crazy new scare? Could you offer a more logical, even-handed response to this overblown issue? – Martin

Dear Martin,  more...

 
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