This week, online real estate company Redfin published the astonishing results of a survey. The survey found that 41 percent of millennial home buyers purchased real estate sight unseen. About one-third of all home buyers purchased property sight unseen. If those numbers are true (and we have no reason to doubt Refin’s survey methods), it’s [...]
Seller disclosure laws don't cover every issue you find with a house after you buy it. If a homeseller isn't aware of an issue when they sell, the homebuyer likely can't take legal action. Q: We purchased a home and farm equipment on approximately 20 acres in rural Georgia this past January. The owners told [...]
When a condo declarant still owns unit in the building, they're responsible for ongoing maintenance expenses in the building. Q: We bought into a condo development five years ago. The condo documents said the declarant didn’t have to follow the condo rules or pay dues on his units until the last unit was sold. We [...]
When your mortgage broker sells your loan to another lender, there might not be specific mortgage transfer records for your loan. Q: Four years ago my husband and I refinanced our home with a mortgage broker, who immediately sold it to a big box lender, to whom we have been paying our mortgage payment for [...]
Looking for a home? In this sellers’ market, it’s critical to avoid common homebuyer mistakes. There are a lot of challenges to finding your dream home if you’re house hunting this summer. For one, there are fewer homes on the market. Current homeowners who took advantage of record low mortgage rates during the recession don’t [...]
How do you respond when you discover an issue with your home that the seller misrepresented? In the case of this homeowner, the seller may have misrepresented the condition the roof was in when they sold the home. Q: I read your recent article about the buyers who bought a home and subsequently found out [...]
When it comes to finding a real estate agent, you want to make sure you hire the right person who will best represent your interests as a homebuyer. Q: I bought your book 100 Questions Every First-Time Homebuyer Should Ask, and read it from cover to cover. Your book helped me tremendously, and I want [...]
For many people, like this commenter, the "American Dream" has been to own a home. But even with interest rates at near historic lows, affordability is still a serious problem. Q: I’ve been reading your column with all the letters from homeowners who have all kinds of problems. They sound as though they’d rather be renting [...]
It’s been a decade since the housing market collapsed, and home prices have finally regained their previous peak. According to the State of the Nation’s Housing 2017 report, released today by the Joint Center for Housing Studies at Harvard University, U.S. home prices rose 5.6 percent in 2016, beating out their pre-recession highs. Across the [...]
