Years ago, when I was a novice realty investor, I read virtually every new real estate book (I still do) and took all the real estate courses offered at the local community college (I later taught four of those courses). One of my instructors really got my attention. He asked the students, "What is the best investment you've ever made?"

A wise guy in class responded, "My wife!" That's not what the instructor had in mind. But nobody could disagree with the student's sincere answer.  more...

DEAR BOB: My wife and I bought our home a little over three years ago. According to the listing, it is supposed to be 2,083 square feet. The data was supplied by the realty agent. But the public records, confirmed with the county tax assessor's office, show the recorded square footage is only 1,889. That's quite a difference. Do we have good cause for legal recourse and damages because the square footage was misrepresented by the seller and/or realty agent? Should we have the house professionally measured? Should our agent have checked the square footage prior to the sale?  more...

Val and Alena Kanifolsky own a property over which there is an easement for high-voltage power lines. The easement authorizes the United States to "erect, operate, maintain, repair, rebuild and patrol one or more electric power transmission lines and appurtenant signal lines, poles, towers, wires, cables and appliances necessary in connection therewith."  more...

DEAR BOB: My husband and I purchased an investment property in June 2004 with a friend. We held the title as tenants in common. The friend died in February 2005 without a will or trust. The property has appreciated nicely in market value. However, because of the delays in the probate process, it appreciated an additional 15 percent to 20 percent since his death. We want to sell the property and divide the proceeds with the estate. Does the estate receive 50 percent of what the property was worth on the date of death, or 50 percent of the sale proceeds when it actually sells?  more...

DEAR BOB: I inherited land that has a cost basis of about $100,000. It was recently sold for $400,000. I am looking to buy a rental beach condo for $250,000. Can I delay reporting the capital gain on $250,000 as a tax-deferred exchange? – Charles S.

DEAR CHARLES: If you already closed the sale of your land, without having the sales proceeds held by a qualified third-party accommodator-intermediary beyond your constructive receipt, you can't qualify for an Internal Revenue Code 1031 tax-deferred exchange.  more...

Dear Barry

My real estate agent recommends a particular home inspector, but I'm highly suspicious. The source of my concern is a magazine article that encouraged home buyers not to trust their agent's recommendation, but to select their own inspector. The article implied that agents prefer home inspectors who minimize property defects, while working hand in hand with agents to close their sales. What is your stand on this touchy subject? – Beverly

Dear Beverly,  more...

If you are a "cash challenged" home buyer or investor, reading "Buying Real Estate Without Cash or Credit" by Peter Conti and David Finkel might give you enough information to be successful. Although the book has its high points, especially the superb negotiation chapter, it gives just enough general information to keep the reader reading but without enough "how to" details.  more...