Will a 1031 Exchange help avoid capital gains tax on an inherited home? When you inherit a home and use it as a rental property, you could face major tax implications when it comes time to sell unless you use a 1031 exchange. Q: Will a 1031 exchange help avoid capital gains tax on an [...]
How do I measure house square footage? Square footage is measured in surprising ways, and is done differently around the country, here’s what you need to know. Q: I'm buying a house in Pawling, NY. The measured indoor space (all rooms, closets, hallway, vestibule) equals 1,430 square feet while the house is listed at 1,680 [...]
When your short sale is a foreclosure in sheep’s clothing, what can you do to make sure you don’t lose any of your deposits? Here’s what I suggest. Q: I read with interest your definition of a short sale in a recent column in the real estate section of our paper. We have a contract [...]
These four financial resolutions for those buying a home in 2018, or those who wanna be home buyers can help them achieve their financial goals and move into that dream house. Home buyer demand is the strongest since 2000, according to a new survey from Genworth Mortgage Insurance. And, according the National Association of Realtors, [...]
Home buying in 2018? If you're looking to buy a home in 2018, you may be worse off than home buyers in 2017. Here's what you need to know. It’s been a rough couple of years for home buyers. At the beginning of 2016, we said, “be prepared to see higher prices and fewer homes [...]
If you’re selling in 2018, be very happy. The Housing Market looks good for Home sellers in 2018 thanks to low inventory, still-low interest rates and a lot of Millennial interest. If you sold your home in 2017, you were probably happy. If you’re selling in 2018, get ready to be very happy. Home prices [...]
Refinancing a mortgage late in the life of the loan could cost you more than it’s worth. Here are a few options if you’re looking to lower your financial burden. Q: Is it wise to refinance my mortgage if it has a balance of just $26,000? The loan was for 30 years at a fixed [...]
Do you have rights to your parents home if you paid their mortgage? You have to consider all of the details of the arrangement before you can claim rights. Q: My husband and his brother paid for a vacation home that was titled in the name of their parents. My mother transferred money out of [...]
A land contract purchase can cause confusion. When do you own the property? When does a land contract confer ownership? Q: I have a land contract to purchase my home in Flint, Michigan. I started to pay the seller, then after a few months my checks mailed to the seller were not being cashed [...]
She inherited her Dad’s house but his ex-wife just moved in. How do you remove your dad’s ex-wife from a house you inherited? Q: My wife just found out her father died. His home, which is in South Carolina, was left in a living trust. She was also told she is the last living and [...]
