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U.S. lenders aren't racing to capture Canada

By Tom Kelly, Wednesday, February 28, 2007.

While U.S. mortgage lenders are heading south of the border to finance real estate in Mexico and Central America, the push to penetrate the Canadian mortgage market is considerably cooler -- even with the 2010 Olympic Games in Vancouver just around the corner.   more...

Health concerns of pressure-treated deck

By Bill and Kevin Burnett, Wednesday, February 28, 2007.

Q: My husband and I installed a pressure-treated deck about 15 years ago. We did not know then what we know now about the chemicals and carcinogens that were used in the manufacturing process. We installed a second redwood deck on a back portion of the house about eight years ago. We're now interested in tearing out the pressure-treated deck and replacing it with redwood for one consistent look and maintenance plan. Our questions are:

1. Is there any risk involved to people removing a pressure-treated deck? Should workers wear protective gloves or masks?  more...

Setback in wheelchair-access lawsuit

By Robert Bruss, Wednesday, February 28, 2007.

Plaintiff Brenda Pickern is a visually impaired and mobility-impaired woman who depends on an electric wheelchair for transportation. Pier 1 Imports Inc. operates its store leased from the Siegmund Weinstock Family Trust.

The store is separated from the street by a long strip of land containing a public sidewalk and a 10-foot-wide grassy berm. There is no access ramp connecting the sidewalk to the store's parking lot. Both the public sidewalk and the grassy strip are owned and maintained by the city.  more...

Gifting real estate not recommended

By Robert Bruss, Wednesday, February 28, 2007.

DEAR BOB: About a year ago, my elderly mother deeded to me her home and two rental properties I manage for her. Her attorney handled the quitclaim deeds and the recordings. Mother died in October 2006. When I talked to my mother's tax accountant he said, "It's too bad your mother deeded the titles to you. If you had inherited those properties, you would have a new stepped-up basis of market value and you would owe practically zero tax when you sell them shortly after her death." Is this true I don't get a new stepped-up basis? --Ellen H.  more...

Agent's bad advice on radon

By Barry Stone, Tuesday, February 27, 2007.

Dear Barry,

When I bought my home, the home inspector recommended that I have a radon test for an additional $100. My agent, who also attended the inspection, said there had not been any high radon levels in the area and that the additional fee was a waste of money. So I didn't get a radon test. After closing escrow, I bought a radon test kit at the hardware store and discovered that the radon in my home is three times the level recommended by the Environmental Protection Agency. Is my agent liable for his misleading advice? --Mickey

Dear Mickey,  more...

Laundry machines gone, buyers want answers

By Robert Bruss, Tuesday, February 27, 2007.

DEAR BOB:I recently bought a house. The seller and/or his real estate agent took all the three sets of washers and dryers in this large house before I got the keys. I think the washers and dryers are fixtures, not to be removed by the seller or the agent. What can I do about this? --Lea W.

DEAR LEA: Any moveable appliance that is not permanently attached to the structure, such as by bolts or built-in like a dishwasher, is not a fixture and remains personal property.  more...

Tax savings beyond property exchanges

By Robert Bruss, Tuesday, February 27, 2007.

If you own your home (or want to) and/or investment real estate but don't fully under its tax benefits, "Selling Real Estate Without Paying Taxes, Second Edition" by attorney Richard T. Williamson shows how to maximize your tax advantages. Emphasis is primarily on avoiding taxes when selling real estate, but the author also emphasizes the importance of the noncash depreciation deduction for owners of investment buildings.  more...

Wall Street most at risk in housing downturn

By Lou Barnes, Monday, February 26, 2007.

Last week's long-term rates spent another week in relative stability: mortgages about 6.25 percent, held by the 10-year T-note near 4.7 percent.

However, this stability is an illusion. I think the Wall Street end of the mortgage business is entering an episode of distress at this moment, and we will see pricing and availability do some strange things in the next week or two.  more...

Future net worth depends on how home is financed

By Jack Guttentag, Monday, February 26, 2007.

"I am buying a house for $180,000, which I could pay for by selling assets, but everybody tells me to leave my assets alone and take out a mortgage. Their advice makes me nervous because it is always based on generalities, such as 'you want the mortgage as a tax shelter' or 'you should leave your investments alone.' They don't know anything about my tax status or my investments. Is there a better way to make this decision?"  more...

Pros and cons of buying fixer-upper home

By Dian Hymer, Monday, February 26, 2007.

Buying a fixer-upper home can certainly be profitable. But if you're not careful, it can also lead to a financial misstep. Here are tips to keep you on the right track.

Many first-time buyers are attracted to fixers as a way to buy a home in a choice neighborhood that would otherwise be unaffordable. A successful fixer turnaround requires time, money and expertise. If you're a first-timer who works full time, is short of funds, and has little or no previous contracting experience, you should reconsider this strategy.  more...

Don't rush to sell home after spouse dies

By Robert Bruss, Monday, February 26, 2007.

DEAR BOB: My husband has a terminal illness. I wonder how long I have after he passes away to take advantage of his $250,000 principal-residence-sale tax exemption. We have owned our home for 30 years and have no mortgage but a lot of equity, thanks to market-value appreciation. I want to stay in the home for a while, but I don't want to miss out on his exemption. --Geri D.

DEAR GERI: Please don't rush to sell your home after your husband passes on. Making quick decisions after the death of a loved one is often a major mistake.  more...

Ditch the paper and the suburbs Premium Content

By Bernice Ross, Friday, February 23, 2007.

(This is Part 6 of a six-part series. Read Part 1, Part 2, Part 3, Part 4 and Part 5.)

Our last five articles have examined the demographic, digital, economic and Web trends will influence your business in 2007.  more...

The water cooler

By Alison Rogers, Friday, February 23, 2007.

I just closed rental deal number five. For those of you keeping score, that means I've turned five rental sides and a sale in 10 months, not bad since I've been writing nearly half time.

But it also means I have no renters to play with right now. My one active rental client is in L.A. for the Oscars, and the market moves so quickly here it's not even worth searching till she gets back. I'm working on two sales deals and I stoke those fires lovingly, but it's not the same as the slam-bang excitement of trying to see 10 properties in a day.  more...

Family intimacy erodes in big homes

By Katherine Salant, Friday, February 23, 2007.

A hundred years ago in the United States, most people shared small living quarters with only a few rooms, and family members were constantly interacting with each other. This was still true at mid-century when millions of families moved out of the cities into single-family houses during the great suburban migration that followed World War II.  more...

New home-heating options

By Paul Bianchina, Friday, February 23, 2007.

If you're remodeling or adding on to your home, one of the considerations you'll be facing is how to heat that new space. Options abound, from individual wall heaters to radiant floor systems, but if your home already has a central heating system, chances are that simply adding a new duct run to the existing system will be the easiest and most cost-effective choice.  more...

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