Government Intervention

By now, many property owners have received their county/state property tax assessment.  Read the notices and don’t be afraid to question the values reported by the assessor.  Because many areas of the US real estate market have had DRASTIC price increases in the past year or two, you may be paying much more than needed. Keep […]

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Transferring real (real estate) property to an heir or beneficiary can be accomplished many ways, including Power of Attorney, Probate, Wills and Trust Estates.  Power of Attorney (PoA) are instructions while living.  Wills are instructions upon death.  Deeds are devices to transfer property.  Trusts are holding entities for assets (including real estate). Power of Attorney […]

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Tenants filing for bankruptcy, landlord and owner issues.

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Word on the street is that now may not be the best time to buy a home.  If the predictions are correct, a drop in housing values of 15% to 25% may be on the horizon.  Source:  CNN/Money Depending on your particular situation, it may be cheaper to buy now instead of renting.  If your […]

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Recent guidelines for FHA loans will make getting a FHA-backed loan on a meth (methamphetamine) contaminated (or remediated) property virtually impossible.  Since most new loans today for buyers are FHA loans, this will probably severely limit lending on any property that was once a “meth contaminated” property.  The net effect will most likely mean a […]

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If you are rehabbing an older building  (built before 1978), then new EPA rules are in place. It is suggested that you first test the property for lead based paint.  If the building tests positive for lead based paint, you need to follow the new RRP (Renovate, Repair or Paint) Rules. The basic rules state […]

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This week, Congress and the President passed the 2009 Stimulus Plan. If you are a first time buyer, there is an $8,000 tax credit available. To qualify, you must: Not owned a principle residence in past 3 years Buy a home (house, condo, duplex, triplex or 4-plex apartment) from Jan 1, 2009 through Dec 1, […]

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Many local municipalities (ie Takoma Park, College Park, Maryland, New York City, San Francisco, Fort Collins, CO, etc.) put laws, policies or restrictions on property owners (investors are homeowners/property owners too) that require (under penalty of law) owners to restrict the use of their property-usually in the name of “community building” or “for the betterment […]

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