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'Creative financing' tactics to lure home buyers
DEAR BENNY: I recently retired and am planning to move out of the country. I own a single-family house in a desirable area. I owe only about $70,000 on my current mortgage. The value of the house before the recent market crash was about $470,000. Despite the current market, numerous people have looked at the house, but only one has made an offer (a very lowball offer). I am not desperate to sell, but I want to move on with my retirement plans. The house is older, but has recently had about $30,000 in improvements in order to appeal to buyers.
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Neighbor disputes erupt when trying to sell home
There are few certainties in the home-sale market. However, there's one thing you can count on. If your neighbors have been harboring a concern about an issue affecting your property, you will surely hear about it when the for-sale sign goes up in front of your house.
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Pro's guide to painting home's exterior
Q: In an article on restoring a Victorian, you mentioned exterior painting using three coats: a coat of primer, a second coat of one-half primer and one-half coat of finish paint, and a final coat of finish paint. Is this your suggestion for all exterior painting?
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Keep concrete, asphalt safe from water intrusion
It seems like something as tough as your concrete or asphalt driveway would be able to easily stand up to something as small as a drop of water. But the effects of rain and snow, especially if that moisture gets into cracks in the surface and then freezes, can do a surprising amount of damage to a driveway, walkway, wall, or other concrete, masonry or asphalt surface.
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Desperate plan to keep home after falling behind on property taxes
Q: My father-in-law owns property with his sister. He lives on the property, but she doesn't. They each own an equal share of the property, but he now can't afford to pay the expenses.
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Home seller quandary: Fix up house or offer credit?
Sellers who anticipate losing money if they sell their home may wonder why they should spend a dime fixing the place up for sale. Isn't this throwing good money after bad? Even sellers with plenty of equity in their homes often figure the way to get the most out of the sale is to cut sale costs to a minimum.
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Sellers list right to avoid price reductions
In most areas of the country, 2007 marked a change in the residential home-sale market. Buyers gained clout for the first time in over a decade. Inventories of homes for sale grew to record levels in some places. Price reductions, which carried a negative stigma when listings were easy to sell, came to be seen as a necessary part of the home-sale process.
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How to divvy up mortgage-interest tax deduction
DEAR BENNY: I purchased a townhome in January 2005 with a very low, interest-only loan, and have been paying approximately 20 percent extra towards the principal each month. My fiancée moved in about 15 months ago and has been paying $600 a month. The monthly interest-only payment is $1,600. Recently we decided to double the monthly payment in addition to paying an extra $10,000 towards the principle to lower the interest portion of the monthly payment. My fiancée has asked about taking advantage of the interest deduction on her tax returns. What is the best way (if any) for us to divide fairly the interest towards our yearly tax returns? I am thinking about giving her a quitclaim deed with her name on it in addition to mine. Is that a viable option? –Chuck
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Install crown molding like a pro
Q: I am remodeling my living room and would like to install a wide cove molding at the ceiling, but I need help in mitering the corners. Do I cut them at a 45-degree angle? Do I cope them? Any information would be greatly appreciated. --Steve H.
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Not everyone's keen on fluorescent lights
Q: I have a question about fluorescent bulbs and power usage. I have been told that fluorescents draw the most power when they are turned on and almost no power to keep on. Therefore, they should be turned on and left on, and should not be turned on and off during the day because it would end up using more power in the process. Is that true? --Richard C., via e-mail.
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A lesson in safe tree-trimming
Q: I am a female homeowner; I love trees and have many all around my yard. I would like to use a chainsaw for some of my pruning; however, my guy friends caution me about using it, telling me stories about how dangerous they are.
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