1031 exchange deadlines during COVID-19 pandemic. This reader wants to know about extensions available to those who completed a 1031 exchange in 2019. Q: We completed our 1031 exchange in September 2019. Our renter has fallen on hardship due to the Coronavirus/COVID-19 pandemic and cannot afford the rent. Similarly, we are in a rental that [...]
Coronavirus 2020: Will pools open this summer? Social distancing regulations could make it difficult for pools to operate safely during the COVID-19 pandemic. Q: Our 100-unit condominium has a small private locked outdoor pool that usually opens from Memorial Day to Labor Day. With COVID-19, what do we do this year? Should we open the [...]
Coronavirus real estate market impact 2020. A new report takes a look at the stability of home prices and home sales in the U.S. after pandemics. Mortgage rates are nearing an all-time low and refinance activity is high, but home sales have slowed due to the coronavirus pandemic, according to a report by Freddie Mac. [...]
How will the coronavirus impact the housing market in 2020? How renters, homeowners, mortgage lenders and iBuyers are responding to the COVID-19 pandemic. How Will the Coronavirus Impact the Housing Market in 2020? Last week’s news included the reports that as many as one-third of apartment and home renters failed to make their rental payment [...]
Interpreting no smoking rules in condos. It’s up to the condo board to interpret and enforce rules and regulations about smoking for the association. Q: I live in a condo with four smokers living below me. They continually blow smoke out the windows and it rises and enters my unit. Our revised Rules and Regs [...]
Is it smart to prepay your mortgage? These are the three different approaches to paying your mortgage that work for homeowners and investors. Q: I'm 83, have no mortgage, pay my credit cards in full each month and have no car payment. When I first started out in 1961, I bought a 52 chevy for [...]
Real estate closings and COVID-19. Electronic signatures and remote online notaries could assist with closings during the coronavirus pandemic if the system adapts. Q: I’m in the process of closing on the sale of a home. I was able to do all the document review electronically, but as the settlement approaches (in a few days), [...]
Buying a house in cash: closing costs and fees. The expenses are slightly different when you buy a house in cash instead of taking out a mortgage. Q: Thanks for your recent article in my local paper titled "Is it better to buy for cash or take out a mortgage." You imply, if not suggest [...]
Coronavirus 2020: home buying, selling and the real estate market. Answering reader questions about how COVID-19 will impact the housing market. In the past few weeks, we have begun to receive questions about COVID-19 and how the coronavirus pandemic has affected local real estate markets. Many buyers and sellers are worried about making a [...]
1031 exchange rules and limitations. This reader wants to know if they can use a 1031 exchange to buy a new investment property with other investors. Q: Are there options for a 1031 Exchange where you would be a property owner with other people? For example, if you bought an office building, retail center or [...]
