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Home inspector criticized for lawsuit remark

By Barry Stone, Tuesday, February 28, 2006.

Dear Barry,

I look forward to your column as a weekly voice of common sense and reason for your readers. So I was surprised and offended by a statement you made in a recent article. Your main point was to explain that sellers should not be liable for defects that are concealed within walls, and you advised a buyer to cut his losses and move on, rather than suing the seller. But then, you took a gratuitous swipe at the entire legal profession, stating that "armies of lawyers" would pursue poorly founded litigation to obtain excessive fees.  more...

Las Vegas home-buying spree pays off big time

By Robert Bruss, Tuesday, February 28, 2006.

The unusual real estate book, "The Insider's Guide to 52 Homes in 52 Weeks," by Dolf de Roos and Gene Burns, tells how a real estate "guru" and an amateur investor teamed up to acquire 52 three- and four-bedroom houses in Las Vegas in about 10 months. They accomplished their goal by never investing more than $5,000 of their own cash in any house.

This fascinating book is the story of a beginner real estate investor who convinced a real estate "guru," who teaches real estate classes, to take him on as a partner to buy 52 houses in 52 weeks.  more...

Real estate investor has trouble shaking depreciation recapture tax

By Robert Bruss, Tuesday, February 28, 2006.

DEAR BOB: If I move for 24 months into a rental house I've owned for 15 years, can I then sell it as my principal residence to avoid the recapture tax on all the depreciation I've deducted? --Elinor W.

DEAR ELINOR: Sorry.  more...

Feds play role in cheating real estate borrowers

By Jack Guttentag, Monday, February 27, 2006.

Q: "I see that the Upfront Mortgage Broker commitment now includes a guarantee of lender fees. What fees are covered, and why is a guarantee needed?"

LENDER FEES

Mortgage lenders charge two kinds of fees. One type, expressed as a percent of the loan amount, is called "points" and sometimes "origination fee." Points are considered part of the price of the loan, along with the rate. When lenders lock the rate, they also lock the points. The lock protects the borrower against any subsequent changes in the market that would raise the rate or points.  more...

How to claim double tax breaks when selling two homes

By Robert Bruss, Monday, February 27, 2006.

DEAR BOB: My husband and I are both 62. We wish to sell our primary residence now and then sell our beach house after living in it for two years. Are we eligible for the home-sale tax exemption on both sales to avoid the capital gains tax? --Genevieve M.

DEAR GENEVIEVE: Your ages are irrelevant for use of the Internal Revenue Code 121 principal residence sale tax exemption up to $250,000 (up to $500,000 for a married couple filing a joint tax return). To qualify, you must own and occupy your primary home at least 24 of the 60 months before its sale.  more...

The timeline of a home sale: what to expect

By Dian Hymer, Monday, February 27, 2006.

Sellers often underestimate the time is will take to properly prepare their home for sale. For this reason, it's wise to start home-sale preparations months before you actually want to put your home on the market.

For scheduling purposes, it helps to work backwards from the date that you'd ideally like to move. Let's say you want to be in a new home by June 1. There are three big tasks that need to be accomplished in order to make this happen.

One is preparing the home for sale. The second is marketing the home to find a buyer.  more...

Bond giant makes 'good case' for real estate slowdown

By Lou Barnes, Friday, February 24, 2006.

Mortgage rates are still within a closing-cost argument of 6.25 percent, held stationary by 10-year T-notes locked in trading between 4.5 percent and 4.6 percent.

The bond market is in a total standoff: fears of an overheating economy and energy-pushed inflation are matched by belief that a rapidly cooling housing market will slow the economy. In the slowdown equation, it doesn't matter how high the Fed pushes short-term rates; the farther it does, the quicker and more the economy will slow, and the more money that owners of bonds will make in the slowdown.  more...

Test of a realty rookie

By Alison Rogers, Friday, February 24, 2006.

As a real estate rookie who has yet to connect with my first pitch, I've eagerly read Bernice Ross's three-part series on agent success. For those of you who missed it, RealEstateCoach.com, which is her site, partnered with isucceed.com and realestatesimulator.com to find correlates of success for rookie agents.  more...

Simple strategies for online real estate exposure Premium Content

By Bernice Ross, Friday, February 24, 2006.

(This is Part 1 of a two-part series. See Part 2.)

Do you want to help your sellers get the most for their property while also earning a full commission?  more...

Winter weather wreaks havoc on water pipes

By Paul Bianchina, Friday, February 24, 2006.

When winter's cold hits, waterlines can become very vulnerable to damage. If the metal pipes become cold enough, water in the lines can freeze and expand, splitting the pipe or popping joints loose. When the ice thaws, water can pour through the damaged areas, resulting in quite a bit of damage to your home.

Because of the easy access it provides to plumbing fixtures, crawlspaces are a favorite place for plumbing pipes to be located.  more...

Work at home, save a bundle on taxes

By Robert Bruss, Friday, February 24, 2006.

(This is Part 7 of an eight-part series.  more...

Real estate inheritance escapes feds' greedy fingers

By Robert Bruss, Thursday, February 23, 2006.

(This is Part 3 of a five-part series.  more...

How to screen tenants for your rental property

By Robert Bruss, Thursday, February 23, 2006.

DEAR BOB: I own a rental house. I recently renovated it and now want to rent it to tenants. My previous tenants were there for 12 years, but I was a lazy landlord and they took advantage of me. I put about $50,000 into the house and want to screen prospective tenants. What is the best way to do that? --Berta G.

DEAR BERTA: Qualifying a rental tenant isn't difficult. Of course, insist on a written rental application and a deposit that is fully refundable if you don't select the applicant.  more...

Replacing door, window trim with watertight seals

By Bill and Kevin Burnett, Wednesday, February 22, 2006.

Q: My 18-year-old, two-story house has exterior stucco that is in good shape. But the doors and windows are trimmed in rough-sawn, painted one-by-fours, some of which have begun to rot.

Not only is the type of trim a bit dated, but it's also beginning to affect the appearance of the house.

What are my alternatives for replacing the trim, and how do I make sure that I will have a good water barrier around the windows?

A: You must replace the rotted wood trim, but we think you should try to maintain the architectural integrity of the home.  more...

Baby Boomers become main target for home builders

By Tom Kelly, Wednesday, February 22, 2006.

Five years ago, as the first group of Baby Boomers began to slow down their work pace and contemplate semi-retirement, the National Association of Home Builders thought it wise to start a Seniors Housing Council to understand what this segment of the population really wanted in its next home.

This group of potential customers became so significant that NAHB even held an annual conference dedicated to the niche. Building for Boomers & Beyond: 50+ Housing Symposiumthis year will be held in April in Phoenix.  more...

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