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Should old home inspection reports be disclosed?

By Barry Stone, Tuesday, February 3, 2004.

Dear Barry,

Since buying our home, we've learned that another buyer nearly bought it about six months ago. That person hired a home inspector, and copies of the report were given to the sellers and their agent. But nothing was mentioned about the report when we bought the property, and we want to know if they were required to disclose the information in that report. –Betty

Dear Betty,  more...

Homeowner tax breaks lost in translation

By Robert Bruss, Tuesday, February 3, 2004.

If you are a homeowner who wants to be aware of virtually every possible tax saving break, "J.K. Lasser's Homeowner's Tax Breaks" by Gerald J. Robinson Esq. is a good guidebook. It highlights almost every home ownership tax benefit, usually making the explanations easily understandable.

However, the book should contain a warning on the front cover stating, "Information in this book should be verified with your personal tax adviser because the author failed to include documentation to support his statements."  more...

Do you know the real price of your ARM?

By Jack Guttentag, Monday, February 2, 2004.

Adjustable-rate mortgages are complicated instruments. No one characteristic fully describes one. This is why, when readers ask me for the pros and cons of COFI ARMs, or Libor ARMs, or flexible payment ARMs, I get heartburn. You can't assess an ARM based on only one of its features.

But some features are more important than others. If any one feature deserves to be considered the "real price" of an ARM, it is the fully indexed rate, or FIR. Yet ironically, I have never had a reader ask me a question about the FIR.  more...

Property transfer upon death made simple

By Robert Bruss, Monday, February 2, 2004.

DEAR BOB: When I die, I want to leave my house to one of my sisters. But I wish to avoid probate costs and delays. Rather than spend the money on a living trust, which you often recommend, I want to fill out a quit claim deed and sign my house over to my sister. However, she won't learn of this until my death (I will keep a copy with my will, which I will give to a trusted brother). Will my sister still be able to record my quit claim deed years from now (after my death) or is there a statute of limitation? She is an attorney and very bright – Gloria Z.  more...

Carpet industry embraces recycled materials

By Katherine Salant, Friday, January 30, 2004.

I recently took an ecological footprint quiz and learned that it would take 21 biologically productive acres to support my lifestyle. If everyone on Earth lived like me, we would need 4.7 planets, and I was 12 percent below average for an American!

The only saving grace here is that so far most of the world has yet to achieve my middle-class American lifestyle.  more...

Creating a convenient winter home for pets

By Paul Bianchina, Friday, January 30, 2004.

When winter hits the area, pet owners are often faced with a dilemma about what to do with their dogs. Many people have mentioned that it would be nice to find a happy medium between leaving a dog inside the house all day or having to leave it out in the cold. Outdoor shelters are one solution, but a warm and dry pen or dog house of adequate size and quality can be expensive and, in some cases, large and unsightly.  more...

Fed eases homeowner 'casualty loss' restrictions

By Robert Bruss, Friday, January 30, 2004.

"If you dare to file a claim on your homeowner's insurance policy, we'll cancel your policy no matter how long you've been our customer." That seems to have become the motto of the homeowner's insurance industry.

Just a few days ago, I received an e-mail from a homeowner who was insured with the same major national insurance company for more than 30 years. Last year she filed a $457 claim. The insurer paid because the loss was covered under the policy. But when her policy came up for annual renewal, the insurer refused to renew.  more...

Lessons from America's most famous real estate

By Bernice Ross, Friday, January 30, 2004.

On the Friday before Christmas I was fortunate enough to "tour" the most famous House in America–the White House. Visiting the rooms where hundreds of world leaders have sat and where the fate of millions has been determined was nothing less than awe-inspiring. Surprisingly, "America's Most Famous House" has lessons from which we can all benefit.  more...

Fed's 'patience' keeps mortgage rates in the fives

By Lou Barnes, Friday, January 30, 2004.

The vertical trace on the bond market EKG after the Fed's Wednesday meeting took mortgages up a quarter-percent, but rates held in the fives, and the more durable damage has been to stocks.  more...

How much rent can I afford?

By Helene Lesel, Thursday, January 29, 2004.

Disposable income is being disposed of at a record pace. Plasma TVs, digital cameras and talking navigation systems are coaxing the almighty dollar out of consumers' wallets.

With low financing and scores of temptations, it's no surprise that household debt has reached record highs. According to research by the Federal Reserve, about 14 percent of disposable income was used for debt payments in 2002.  more...

Kitchen cabinets from scratch

By Bill and Kevin Burnett, Wednesday, January 28, 2004.

Q: Our new kitchen is going to require some custom cabinets, and my husband would like to build them himself to save money. I am concerned that the finishing touches will be compromised and shortly upon completion we will see them yellow, peel or warp. Any ideas on how we can seal or coat the cabinets? –Isabelle (Burlingame, Calif.)  more...

Debt consolidation with a real estate twist

By Tom Kelly, Wednesday, January 28, 2004.

If the holiday trip to Grandma's house, the kids' winter tuition and an overly generous Santa Claus impression nearly maxed-out your credit card, do your best to pay down those high interest-rate expenses as soon as you can.

Child safety compromised at day camp

By Robert Bruss, Wednesday, January 28, 2004.

Benjamin, age 5, and his brother Joshua, age 9, were enrolled at a summer day camp. Their parents dropped them off where they were then picked up by a bus and taken to the camp.

Buford, an individual with publicly avowed anti-Semitic views, entered the day camp area and began shooting. His bullet hit Benjamin. Joshua was not shot, but he "perceived" Benjamin's shooting.

Purchase Bob Bruss reports online.  more...

Encroaching neighbor hinders property improvement

By Barry Stone, Tuesday, January 27, 2004.

Dear Barry,

My neighbor has a brick shed built against the side of my garage. It encroaches onto my property and prevents me from painting the garage wall. I'd like him to remove it, but he refuses because it was there before I purchased the property two years ago. The city building department sent him a notice, but he won't tear the shed down. What should I do? – Yve

Dear Yve,  more...

'You're not buying <i>that</i> house, are you?'

By Robert Bruss, Tuesday, January 27, 2004.

Unless you have no sense of humor, never smile, never laugh, and wear a pocket protector for your pens (indicating you are overly cautious), you will thoroughly enjoy Frank Cook's latest real estate disclosure book, "You're not Buying That House are You?" In addition to being a semi-serious real estate "how to buy a home book," bookstores and libraries should also shelve it in the humor section.  more...

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