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What home buyer calls defects really aren't

By Barry Stone, Monday, March 31, 2008.

Dear Barry,

We purchased our home 1 1/2 years ago, and our home inspector missed a number of problems. These include rotten eave boards, a bad roof, a rusted water heater, garage-door openers not equipped with safety eyes, rotted window frames, an unvented kitchen stovetop, a broken vent on the furnace, and the list goes on. We trusted him because he was recommended by our Realtor. Do we have any recourse? --Sandra

Dear Sandra,  more...

Mortgage concepts every buyer should know

By Jack Guttentag, Sunday, March 30, 2008.

Home purchasers sometimes get into trouble because they are not clued into the sequence of steps involved in financing their purchase. These are qualification, preapproval, approval and lock.  more...

Major home remodel may not pay off

By Dian Hymer, Sunday, March 30, 2008.

Several years ago, if your home no longer suited your needs, you bought another one that worked better. Generally, listings sold quickly, so many homeowners bought first and then sold the old home. Today's challenging residential real estate market makes this process more risky. For some homeowners, it's impossible due to tight credit markets.  more...

Will refinancing to lower rate really save money?

By Benny Kass, Sunday, March 30, 2008.

DEAR BENNY: I bought my condo 18 months ago. The interest rate on my 30-year loan is 6.25 percent. Should I consider refinancing to a lower rate? I plan on staying here and paying off the loan so it seems even if I save some money on a lower interest rate I will be extending my loan and paying more/longer? --Scott

DEAR SCOTT: Since you've had your loan for a relatively short time, the costs to refinance your loan may not outweigh the benefits of a lower interest rate.  more...

An agent planning for retirement

By Alison Rogers, Sunday, March 30, 2008.

I left my old corporate job, with its lovely 401(k) that offered cushy matching funds, in 2005.

The year after was such a financial disaster -- I piled on credit-card debt like, well, a sailor on shore leave with a fistful of credit cards -- that I didn't make any retirement contributions at all.

But now, I am doing my 2007 taxes, and (huzzah!) I get to be responsible again. That means I'm making a contribution to my retirement funds.  more...

Bailout is not a four-letter word

By Lou Barnes, Friday, March 28, 2008.

Mortgage rates rose slightly this week, the lowest-fee 30-year from just below 6 percent to a hair above. Spreads still gape versus Treasurys, at 2.5 percent above the 10-year defying all of the Fed's latest efforts. Five-year ARMs, both conforming and jumbo, are better in availability and rate, but both are scarcer and higher than in January.

The economy itself is in a curious place. This morning's report of a half-percent gain in February personal income was head-scratching good news, not squaring with consumer confidence measures at 16-year lows, some components at 41-year all-time lows.  more...

Painting tips from the pros

By Paul Bianchina, Thursday, March 27, 2008.

If you're an avid do-it-yourselfer, you know the value of a simple can of paint for sprucing up walls and revamping tired rooms. But you've probably also experienced the love/hate relationship that seems to be a part of painting, so here are a handful of tips that should make your next paint project a little easier and more enjoyable.  more...

What happened to the mail-order house?

By Arrol Gellner, Thursday, March 27, 2008.

A century ago, Henry Ford's canny use of mass production put the automobile -- a former plaything of the wealthy -- within reach of the average American. Since then, mass production has made complex products from clocks to computers affordable to pretty much everyone.  more...

Buyers, you'll be wealthier if you quit renting Premium Content

By Bernice Ross, Thursday, March 27, 2008.

(This is Part 2 of a three-part series. Read Part 1, "Top questions to ask sellers at listing appointment.")

Are buyers really liars? Not usually -- the challenge is you just haven't asked them the right questions.

One of the biggest obstacles in converting leads into signed business is the agent's inability to stay in question mode rather than tell mode.  more...

Can landlord refuse to rent to ex-convicts?

By Robert Griswold, Wednesday, March 26, 2008.

Question: We have several multifamily units with moderate turnover and we run a full credit check on everyone wishing to apply. Sometimes we get applicants where their income and basic credit info is marginal, but they do meet our minimum economic rental criteria so we go ahead and rent to them. We are now seeing that some of these applicants that meet our minimum requirements also have served time for convictions for violent crime, drugs or something pretty serious.  more...

Home sellers keep profits, avoid taxes

By Benny Kass, Wednesday, March 26, 2008.

(This is Part 4 of a five-part series.)

"The taxpayer: that's someone who works for the federal government but doesn't have to take a civil service examination." --Ronald Reagan

Q: How can I make a profit of $500,000 and not have to pay a penny in capital gains tax?

A: Buy a house with your spouse, live in it for at least two years, and file a joint return. Of course, the house has to increase significantly in value.  more...

Raising rent on advertised unit a risky move

By Janet Portman, Wednesday, March 26, 2008.

Q: I've taken over the management of my family's small apartment building and recently spoke with someone who answered my ad for a vacant unit. After talking with other owners nearby, I realized that I had set the rent $200 below market. We haven't signed a lease yet, and I'm wondering if I can correct my mistake. --Tim A.  more...

Save money installing hardwood floors

By Bill and Kevin Burnett, Tuesday, March 25, 2008.

Our friend Wes Clark is an inveterate golfer. He's a whole lot more comfortable swinging a pitching wedge than a hammer. So, on a recent warm Saturday morning -- perfect weather for 18 holes -- it was strange to see him on his hands and knees in the spare bedroom of his Castro Valley, Calif., home, nailing down a hardwood floor.  more...

Union workers eligible for mortgage relief

By Tom Kelly, Tuesday, March 25, 2008.

While trying to understand the new Internal Revenue Service guidelines regarding the ability to deduct mortgage-insurance premiums, the topic of unemployment insurance surfaced with regard to the Hollywood writers' strike.

How would the 10,000 members of the Writers Guild of America, along with the related surface industries affected by the walkout, afford to keep their homes if the three-month-old strike continued?  more...

What's causing drafty kitchen cabinet?

By Paul Bianchina, Monday, March 24, 2008.

Q: We're trying to deal with a couple of drafts in the home we're updating. We have a microwave over the stove with a metal exhaust pipe that runs through the upper cabinet. It's on an interior wall, but we get a terrible draft through that cabinet. How do I cut down on the cold air? Is it safe to wrap the metal vent with insulation? --Erin K.  more...

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