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Upsides and downsides to being a home inspector

By Barry Stone, Tuesday, January 31, 2006.

Dear Barry,

I am a 37-year-old woman who is interested in becoming a home inspector. What can you tell me about the ups and downs of being an inspector and about the income range? Also, what type of person makes a good inspector, and what percentage of home inspectors are women? - Dee

Dear Dee,

Your interest in home inspection is gratifying. Women are definitely under-represented in the profession. I can't give you any statistics on this, but the home inspector conventions I've attended have included fewer women than can be counted on one hand.  more...

Architect turns tiny homes into real estate masterpieces

By Robert Bruss, Tuesday, January 31, 2006.

Don't let the title "Inside the Not So Big House," by Sarah Susanka with Marc Vassalo, fool you. It is not about just one house. It is about 23 modest-size homes, located throughout the nation, emphasizing the features and details famous home architect Sarah Susanka likes best in each residence.

This is one of those beautiful coffee table-type books (with gorgeous photos by Ken Gutmaker) where the readers can point to the photo of something they want in their next home or in a remodel of their current home. Many of the homes shown are remodels of very old homes.  more...

Must homeowner declare rent received from partner?

By Robert Bruss, Tuesday, January 31, 2006.

DEAR BOB: I bought my first house in 2005. My partner lives in it with me, but the mortgage and title are in my name alone because I have better credit. My partner gives me money each month to go toward paying the mortgage. Is this considered rent and therefore taxable? --Clarissa P.

DEAR CLARISSA: From your description of the situation, it appears the money you receive from your partner is rent that you should report on Schedule E of your income tax return.  more...

Borrower recourse a hot issue in mortgage transactions

By Jack Guttentag, Monday, January 30, 2006.

Q: What question are you asked most frequently?

A: I don't have to think twice about that. The question that appears most frequently is some variant of "What is my recourse?" The question is posed by borrowers who feel they have been treated unfairly, deceptively, untruthfully, or fraudulently by a mortgage broker, lender or servicing agent. Or, occasionally, an ex-spouse.

This is also among the questions I most dislike, because my ability to help is so limited. The question is essentially a legal one, and I am not a lawyer.  more...

Buyers gain power in today's real estate negotiations

By Dian Hymer, Monday, January 30, 2006.

Last year, multiple offers were common. Consequently, it took no time at all to negotiate a sale. In most cases, buyers had only one shot at getting the price right. The winning contracts were negotiated quickly with little, if any, bickering over price and terms. If you missed the mark, you rationalized that it wasn't meant to be and searched for another opportunity.

Multiple offers have declined. Instead, multiple counteroffers are becoming the norm. Negotiation is back in vogue.  more...

Real estate gift comes with unintended consequences

By Robert Bruss, Monday, January 30, 2006.

DEAR BOB: My mom transferred the deed on her house into my name a couple of years ago. After she passes away and I sell the house, what kind of taxes should I anticipate? --Donna B.

DEAR DONNA: When your mom gifted the house to you, as the donee you took over your donor's presumably low adjusted-cost basis.  more...

Clues point to more Fed rate increases

By Lou Barnes, Friday, January 27, 2006.

This has been a big week in U.S. markets, and a painful one for mortgages. Next week will be bigger, and the odds favor additional discomfort. Mortgages are decisively out of the 6-6.125 percent range; now 6.25 percent, threatening 6.5 percent as early as next Friday.

The headlines in the last 48 hours have been a maximum-volume garble, guaranteed to confuse clients.  more...

Networking and real estate: Scenes from the inside

By Alison Rogers, Friday, January 27, 2006.

I spot a potential house on the MLS, but the tenant has first right of refusal and is therefore – unsurprisingly – making it difficult to show. I still feel leads aren't coming in fast enough, so it's time for some of the old meet-and-greet.

This has probably been the stickiest issue between my partners and me. I had expected to be introduced, passed around as the new kid, but one whose credentials were trustworthy, would you please help her? Instead I found the Rolodexes fairly closed. Aha, I thought, they're waiting to see my demeanor before they introduce me.  more...

Cookies not so sweet when harming your computer Premium Content

By Bernice Ross, Friday, January 27, 2006.

Cookies may be bad for your waistline, but they can be an even worst disaster for your computer. If you haven't already done so, it's time to put your computer on a cookie diet.

I purchased a new computer a few months ago and it was constantly crashing. One of the problems was that the Palm 650 TREO software and Windows XP don't like each other, and when these two conflict, your machine crashes. I was also running Norton AntiVirus, but because of all the problems I was experiencing, I was reluctant to install anything else. Big mistake.  more...

Uninsured real estate losses qualify for tax relief

By Robert Bruss, Friday, January 27, 2006.

(This is Part 3 of an eight-part series.  more...

Comfortable home is in the details

By Katherine Salant, Friday, January 27, 2006.

Most of us spend a fair amount of time picking apart the fabric of our everyday life. We talk endlessly about movies, clothes, fashion, food, televisions shows, sports and cars. Author and architect Sarah Susanka wants us to take this pick-apart impulse and pick apart something we experience intimately everyday but never think about -- the spaces in our houses.  more...

To close or not to close home's foundation vents?

By Paul Bianchina, Friday, January 27, 2006.

Q: Several people have said to never close our foundation vents, including the home inspector, the Realtor, and even the gardener! However, I notice in previous columns that you recommend closing them during the winter. Can you shed some light on this for me? -- Dawn G.

A: The foundation vents are designed to provide a cross flow of air under the house that assists with the removal of any moisture accumulation in the crawl space before it can build up and cause mold, mildew, or damage to structural components.  more...

Ex-husband lays claim to $250,000 home-sale exemption

By Robert Bruss, Thursday, January 26, 2006.

DEAR BOB: In 1989, my wife and I bought our family home together. In 1998, we separated. I moved into an apartment and she stayed in the house. We divorced in 2003. I agreed to receive a $100,000 lump sum payment when our house is sold. In June 2005 we sold the house and at the closing I received $100,000. Am I still entitled to my tax exemption on the $100,000? --Joe C.

DEAR JOE: Yes. If I understand your e-mail correctly, at the time of the home sale your ex-wife was still living in the family home as her principal residence.  more...

Feds target homeowners' ordinary income, capital gains

By Robert Bruss, Thursday, January 26, 2006.

(This is Part 1 of a five-part series.  more...

Ignorance keeps homeowners from mortgage insurance refunds

By Tom Kelly, Wednesday, January 25, 2006.

If a private company has approached you to help track down funds you might be owed from paying off a Federal Housing Administration home loan, try taking on the chore yourself. The steps are simply much easier than they used to be, and the cash could come in handy to pay off those holiday credit card bills.

The U.S. Department of Housing and Urban Development, which oversees all FHA loans, increased its research efforts three years ago to locate approximately 348,000 homeowners owed $250 million in FHA mortgage insurance refunds.  more...

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