Author: Monty
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Unsold home frustrating – should we give up?
Reader Question: We want to sell our house to move closer to our families. Our home was listed two months ago. We interviewed multiple agents, and all agreed the house would sell fast because of the price range and the excellent neighborhood. We set the price toward the low end to sell quickly. Several people…
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Four money traps with home additions or remodeling
Reader Question: We have enjoyed our home for over five years. In addition to great neighbors, we like the neighborhood amenities, the convenience, and proximity to work. However, we need more room as our family has grown. We are well situated financially, but we do not want to have wasted capital when we sell…
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Ten Money-Saving Tips Many Homeowners Overlook
Reader Question: Do you have a list of things that homeowners tend to forget in caring for their home where they could save money? Monty’s Answer: Your question inspired the production of a list based upon my experiences of owning a home. Full disclosure: You asked someone whose wife rolled her eyes when she caught…
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Is Our House A Lemon?
Reader Question: Is Our House A Lemon? We bought our home about six months ago. The house seemed perfect. It is very well-kept, and it came through the home inspection with flying colors. We have met some friendly neighbors, and we love living here. That said, we have experienced some expensive issues; the water heater…
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Are there any disadvantages to selling a home and renting?
Reader Question: I just turned 60 and own my two-bedroom, two-bathroom, two-car garage condo outright, and it’s worth about $140,000. Condos in my area sell fast. Many people think it’s a waste of money to rent when you can build equity in your house, especially if it’s paid for. I guess it depends on…
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Five critical components for investing in real estate
Reader Question: I am considering investing in real estate. Can you explain how people avoid taxes just by owning property? Monty’s Answer: Real estate investors do not invest in real estate to avoid taxes. They invest in real estate to build wealth. Appreciation, income, and depreciation create wealth in real estate. Depreciation is also…
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Family dog discovers building defect – gets into hot water
Reader Question: We recently moved into a beautiful home that is 14 years old. We live in a gated subdivision with an HOA that was developed by the same real estate company which sold us our home. We are the third owner of the house and so far have had no issues. Recently I discovered…
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You need a tragedy plan when you have real estate in case an owner died unexpectedly.
Reader Question: My husband passed away unexpectedly very recently. I lost my best friend, and now I’m losing my sanity. He handled all our finances. We own income property and other assets, but I don’t know where any documents are or how to find them. I asked for information many times, but he never gave…
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Six questions to ask yourself when changing houses
Reader Question: We are in the process of changing houses. Our home is currently on the market, and we are actively looking. It has only been two weeks, and we have had three showings, but no offers yet. Our agent seems to think that we are going to have a hard time getting an offer accepted…
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Listing agent fumbles – can I cancel the contract?
seller picked a poor agent and is seeking advice on how to cancel the listing agreement.
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Tips for dealing with real estate developers
Reader Question: My property on the east coast has been re-zoned to high density. I have received many solicitations from real estate developers. I suspect that they do not have my best interests in mind. What agents-real estate attorneys, must I consult? Monty’s Answer: My interpretation of your question is that you want help…
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Has the real estate market fully recovered?
Reader Question: Before the banks caused the 2008 meltdown, I purchased my home for $475K. Homes directly around me have recently sold for anywhere between $215K-$360K. Prices are finally rebounding here, and I have the most beautiful home in the area. Can I expect to make any money by putting my home for sale or…