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Pending foreclosure doesn't mean stop paying rent

By Janet Portman, Wednesday, April 30, 2008.

Q: I own a rental property occupied by tenants who are two months into their one-year lease. Soon, very soon, the bank will foreclose on this property. I would like to know if I am legally entitled to collect rent during this process.  more...

Vacation ownership interests: Deal or no deal?

By Benny Kass, Wednesday, April 30, 2008.

Q: On a recent vacation to the Caribbean, we were approached by a young woman who wanted us to buy into a vacation ownership. According to this salesperson, for the money that we would give them, we would get a number of points, which could be used for vacations in a number of desirable hotels and cities throughout the United States. This was interesting to us, but we did not know enough about the transaction and opted not to buy. Can you provide some guidance on this concept? Is it a good deal?  more...

Kitchen lighting tips from the pros

By Bill and Kevin Burnett, Tuesday, April 29, 2008.

Q: In an effort to update my kitchen, I had the two fluorescent lights removed and three recessed lights put in. I did not realize they would not give out much light. Can you advise me on what options I have now that I have three holes in the ceiling? Is there any other kind of bulb I can use?

A: One of the most important things to consider in updating a kitchen is lighting. It ranks right up there with appliance placement, cabinets and countertop material. But lighting is often overlooked.  more...

Home inspectors avoid asbestos like the plague

By Barry Stone, Monday, April 28, 2008.

Dear Barry,

The home inspector I hired never mentioned that the floor tiles and air duct insulation contain asbestos. Shouldn't he have pointed this out? --Robert

Dear Robert,  more...

When selling home, ask buyer for at least 5% deposit

By Benny Kass, Sunday, April 27, 2008.

DEAR BENNY: We recently sold our home (in Maryland), and had a ratified contract. The homeowners association (HOA) documents were delivered and received by the buyer, and the inspection was completed. All the "i's" were dotted and "t's" crossed.  more...

Volatile rates make locking a must

By Jack Guttentag, Sunday, April 27, 2008.

One of the unpleasant features of the mortgage crisis has been heightened volatility in the prices faced by borrowers. For example, the wholesale rate on 30-year fixed-rate conforming mortgages rose from 5.23 percent on February 6 to 6.16 percent on February 26, dropped to 5.65 percent on March 3, rose to 6.23 percent March 6, dropped to 5.38 percent March 20, and rose to 5.812 percent April 2. These numbers are drawn from the wholesale price data shown daily on my Web site.  more...

Sellers, don't be difficult when showing home

By Dian Hymer, Sunday, April 27, 2008.

Selling a home while you're living in it can be trying during any market. Today's sellers are generally looking at a longer marketing time than was the case a few years ago. Appropriate pricing for this changing market can shorten the misery. So can taking a few precautions.

The houses that look the best are the ones that get serious attention from buyers. Preparing a house for sale is more important than ever. Keeping it in pristine condition can be a challenge, particularly for sellers with small children and pets.  more...

Courting customers: Who's coming back, who's long gone Premium Content

By Alison Rogers, Sunday, April 27, 2008.

So, as far as I understand it, this real estate game is about getting customers, servicing them, getting paid, and getting more customers.

I once prowled around to see how much of my time I should spend getting customers (as opposed to servicing them and getting paid) and I was told "8 hours a week." That assumes I work a 40-hour week, which I don't, but I'm willing to extrapolate it as a rule of thumb that I'm supposed to be spending 20 percent of my work time acquiring customers.  more...

Stop the panic; hold the sugar Premium Content

By Lou Barnes, Friday, April 25, 2008.

Long-term mortgage rates this week stayed about where they were last week, close to post-January highs: 30-year-fixed mortgages were just above 6 percent, and the 10-year T-note was at 3.82 percent.

However, the situation is changing and thick with propaganda. The keys: the difference between a retreat from panic and return to health, and rising global inflation.  more...

Building permits are nothing to fear

By Paul Bianchina, Thursday, April 24, 2008.

"Do I really need a building permit?"

It's one of the most common questions that a homeowner will ask when contemplating a construction project, typically hoping that the answer they'll get back is "no." People seem to have an unreasonable fear of building permits and the entire inspection process, and since many of your projects actually will require a permit, it might be helpful to look at some common questions that often arise.  more...

Before choosing vinyl, think about environment

By Arrol Gellner, Thursday, April 24, 2008.

The other day I came across a plastic house. Not the futuristic World's Fair variety -- this was just an ordinary old house that had been "improved" with a brace of glaring-white vinyl windows, lots of wavy vinyl siding, and some flimsy looking vinyl gutters and downspouts. As icing on the petrochemical cake, it was ringed by a white vinyl picket fence. If there were any termites left in the place, they must have been pretty hungry.  more...

Specialization's the name of the game Premium Content

By Bernice Ross, Thursday, April 24, 2008.

(This is Part 1 of a three-part series.)

Is your Web site generating the leads you want or is it a money pit that produces no results? If you want to turn your Web site into a moneymaking machine, today's column will show you how.

Michael Russer, aka "Mr. Internet," has been an expert on how to use the Web to market your real estate services since the mid-1990s. He has been a leading advocate of working with virtual assistants and has shown thousands of agents how to build successful online businesses.  more...

When dorm opens, teen wants out of lease

By Robert Griswold, Wednesday, April 23, 2008.

Q: Several weeks ago my 18-year-old niece signed a one-year lease contract to room with several students at a privately owned rental condo and gave them the first month's rent and a portion of the security deposit. A few days later she changed her mind and doesn't actually want to move in because our local university informed her that a dorm facility right on campus was available.  more...

Roommate furious after surprise police search

By Janet Portman, Wednesday, April 23, 2008.

Q: I share an apartment with another guy. The police showed up at our door last night, saying that a nearby apartment had been burglarized and asking to be let in to look around. I said OK, and they came in, looked around, and left. My roommate, who wasn't home, is furious with me, and said I had no right to allow the cops to enter. What do you think? --Paul M.  more...

No real benefit to paying off mortgage

By Benny Kass, Wednesday, April 23, 2008.

Q: Our condominium unit is now worth approximately $350,000, and we owe only $25,000 on our mortgage. We are from the old school, and want to own this property free and clear. We have the money, and are considering paying off the loan. Is this a good idea, and if so, how do we go about making sure that it is done correctly?

A: The old school is a reference to our parents (or grandparents) who lived through the recession in the 1930s. Because the stock market crashed, and lots of people were unemployed, those who owned their home free and clear of any debt at least had a roof over their head and did not have to sleep in the streets or under the bridges.  more...

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