A little over one year ago, the Supreme Court handed down the decision in Kelo, which held that the city of New London could condemn land to sell it to private developers in order to increase the tax base. At the time, it generated huge amounts of outrage – the formation of Life Liberty Property, …
Category Archives: Buying and Selling
Foreclosures – A Good Investment?
Well, sometimes. Okay, most of the time. But not always. Foreclosures: Bargain hunters beware! Myth no. 1: A big spike in foreclosures is right around the corner… …That’s because in most of the country, anyone who has owned a home for even a year or two is likely sitting on enough equity to sell or …
Agents Refusing to Make an Offer on Real Estate
“buyers agent refuses to make offer” was a search hit I got recently. This is yet another reason not to sign exclusive buyer’s agent agreements. My guess is that the CBB is lower than the agent would like. The CBB is the “cooperating brokers” payment – that share of the selling agent’s commission that will …
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Buying Investment Property – An Example of the Issues
My aunt is going to move to a new condo and wants to sell her old one. I would like to buy her old condo as an investment and rent it out (as I am already a home-owner). This whole investment/rental buying is all new to me. She has lived there about 5 years and …
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The Effects of Divorce on Real Estate
The bottom line on this question is always, “Whatever the courts say.” Divorce law is complex, and different from state to state, and even when you think you’ve got a clear message in the law as written, the courts may interpret it differently, or there may be precedent that says otherwise, or even just some …
Housing Bubble Death Trap
That was the wording of a search engine hit I got. It’s not literally a death trap, of course, only much financial pain. But the hyperbole is forgivable in today’s modern society and the state of the current market. Other people may have other definitions of “housing bubble death trap,” but when I’m talking about …
Buyer’s Basic Guide to The Foreclosure Market and REOs
I’ve written articles on when you can’t make your mortgage payment and how to react if you see foreclosure coming in time to do something about it, and even on Short Payoffs, but all of those are owner (seller) oriented. This is intended as a basic buyer’s guide to getting a bargain from people who …
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Rejected Offers to Purchase Real Estate
“overpriced house offer rejected what next” (Before I get started, I want to make it clear that I am using the same definition of worth found in this article: A property is worth what a willing buyer and a willing seller agree on and consummate.) The seller obviously didn’t feel that it was overpriced. Given …
Recurring and Nonrecurring Closing Costs
Many people are uncertain as to what closing costs are. Basically, they relate to the costs of doing the transaction. There are people who work on getting your loan through the process of approval and funding, and those people have got to be paid. Anytime you’re talking about a fee for a service that needs …
Real Estate Boycotts
<blockquote> I simply love “Fear And Greed: How did the real estate bubble get so big” I’m not sure if you are aware that there is a grass-roots group that is starting a “boycott on housing.” They feel that the prices in the San Francisco Bay Area are unreasonable. It’s kind of interesting. The website …