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Renting or Buying: What’s Really Better?

By | June 23rd, 2017|

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 [...]

A New Report Shows Housing Market Strengths and Weaknesses

By | June 16th, 2017|

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 [...]

Breaking An Apartment Lease: Is It Legal?

By | June 15th, 2017|

When you sign an apartment lease, you agree to uphold the terms of that document. Some municipalities have landlord-tenant ordinances that give additional rights to tenants, but a tenant can't decide to terminate their lease without taking the proper steps to do so. Q: I have a small question, I'm from Cleveland, Ohio. I had [...]

What Makes A Rental Property ‘Long-Term?’

By | June 15th, 2017|

Is there a good way to define a rental unit as long-term or temporary? As this correspondent finds, there can be several different definitions. Q: This question may seem odd, it has been hard for me to research it and I hope you can help. I am trying to determine a realistic and reasonable definition [...]

Top 5 Threats to Real Estate in 2017 (Part I of II)

By | June 14th, 2017|

Wondering what threats await real estate this year (and in the future)? Scott  Muldavin, Chair of the Counselors of Real Estate (CRE), ran down his annual list at this year's National Association of Real Estate Editors (NAREE) conference, in Denver. This story features the first 5 threats to real estate. Real Estate Threat #1 - [...]

Buying Your Forever Home

By | June 14th, 2017|

What is your “forever” home? And, how old will you be when you buy it? Turns out, the magic age to buy forever homes, the home in which you will ostensibly spend the rest of your life, is anytime after you turn 52, according to the 2017 Home Buyer and Seller Generational Trends Report, published [...]

What Is A Lot Line Adjustment?

By | June 8th, 2017|

What is a lot line adjustment? Is this an easy way to transfer property between neighbors? What goes into a lot line adjustment? Q: My neighbor owns his property with no liens and no disputes. We have reached an agreement for me to purchase part of it with cash. I have heard that a lot [...]

How To Pay Off A Home Equity Loan With A Very High Interest Rate

By | June 8th, 2017|

What happens when your parents die and you discover an unpaid home equity loan with an extremely high interest rate? This person inherited a house, which is in probate, but also discovered what looks like a 30-year home equity loan that carries such a high interest rate that the loan balance is never paid down. [...]

If I Pay Back Taxes on a Property Do I Own It?

By | June 8th, 2017|

If I pay back taxes on a property do I own it? This reader wants to know how the system works and if he becomes the property owner when he pays back taxes. Q: If I pay the back taxes on a property do I own it? My parents are about to lose our family [...]

Home Inspector Should Make Terms Clear Before Payment

By | June 2nd, 2017|

What are the terms under which your professional home inspector is inspecting the house you want to buy? Liability caps on home inspections aren't wrong, but good home inspectors should disclose this information before they're paid. Q: I was buying a house and hired a home inspector. We went through the whole inspection and I [...]

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