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What to do if your home won't sell
Homes take longer to sell today than they did in 2005. This is due to a slow home-sale market that has resulted in a build-up of the inventory of unsold listings. Although there are exceptions, this situation is expected to continue until late 2008 or 2009 -- at least. What options do sellers have whose homes aren't selling quickly enough?
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Sellers, pay attention to lowball offers
Selling a home can be an emotional experience because most sellers have a lot more than money invested in their homes. So, it's understandable that sellers might be reluctant to respond to an offer that is for less than the asking price.
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How buyers, sellers are closing deals in today's market
Negotiation is back in style, and is likely to remain a necessary part of buying or selling a home in today's beleaguered residential housing market. Other key elements to a satisfactory closing are flexibility, perseverance, creativity and diligence.
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What to look for in a final walk-through inspection
Most home buyers will have at least two opportunities to inspect their property before closing on the purchase.
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Valuing your home improvements
It would be nice if you could count on getting one dollar back when you sell your house for each dollar you invested in renovations. Most people hope for more than a dollar-for-dollar return. In reality, many improvements return less than the amount invested.
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Should I ask the seller for a credit?
Most purchase contracts include an inspection contingency. Sometimes, the buyers remove this contingency without asking the seller to make any repairs. But if the buyers ask the seller to remedy a defect, the resolution often takes the form of a credit from the seller to the buyer that is applied toward the buyers' nonrecurring closing costs.
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Tips on the art of home purchase offers
Home buyers now have more negotiating power than they have had in years. However, that doesn't necessarily make it easier to decide how much to offer.
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Detox your indoor air
Everyone seems to love that new-house smell and pine-scented air. Unfortunately, such aromas frequently are the stench of toxins being emitted by construction materials, cabinets, paint and adhesives. Formaldehyde, mold, dust mites and a multitude of other nasty bits may make up the chemical soup that you’re breathing.
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Top home-buying mistakes revealed
The first rule of inspecting a home you want to buy is to stay intimately involved in the process, and to leave no stone unturned. If you're busy or traveling during the time period, you have to complete your due diligence investigations by enlisting the aid of a friend you trust to stand in on your behalf -- someone who will keep you well informed as inspections proceed.
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Foreclosure rescue scams on the rise
Are the usual suspects returning to mortgage-related scams as a result of the subprime lending fallout? Does the practice of illegal "foreclosure rescue" operations extend even into the second-home market?
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Deck-staining that can't fail
Q: I have a deck that was built in October 2006. Does it need to be stained this soon? This will be my first deck-staining experience, and I was also wondering what things to be aware of, and if there are any suggestions for easier application, especially on the posts and railings. --Margaret M.
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Is buying a second home a wise tax strategy?
DEAR BOB: My wife and I bought a house in 1995 for $180,000. Since then, we have taken out home-improvement loans and now owe $320,000. Similar nearby houses sell for $600,000. In 2004, we bought our current home for $640,000 and rented out our former home. We have been told if we sell our first home within three years after buying our second home we won't owe any capital gains tax. Or should we try to sell it now although the local home sale market is a bit slow? --Manuel A.
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Realty Tax Tips
It's difficult for most of us to get very excited about income taxes. But when it comes to earning up to $250,000 tax-free (up to $500,000 for a qualified married couple), have I got your attention yet?
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Building permits are nothing to fear
"Do I really need a building permit?"
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Extra insurance coverage urged for condos
Sometimes, we need a painful experience to prod us into doing what we should have done in the first place.
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Pet owners, handicapped face home-search obstacles
Q: I'm having a difficult time finding a place to rent and suspect it's because I'm handicapped. What are my rights?
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Open house don'ts
I spent some time over the weekend visiting some open houses. While I'm not seriously thinking about moving, I like to see what's going on in my neighborhood.
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