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Author: Monty

  • Five tips to evaluate income property

      Reader Question: We want to make our first real estate investment purchase. We have decided on investing in older 2-4 family apartments. It appears there are different ways to decide what a property is worth. How do you evaluate an old three family? Julie and Rob P. Monty’s Answer: There are many theories regarding…

  • Five tips to vet a shared driveway

      Reader Question: We are interested in a home that has a shared driveway. I cannot think of any pro, except maybe the shared cost to maintain. What are the cons to worry about with a shared driveway? Thanks! Chris Z. Monty’s Answer: Shared driveways are fairly common. Most often, there are written rules that…

  • Should home sellers consider an auction sale?

    Reader Question:  As home sellers consider an auction sale and a traditional listing and cannot decide, your take on the differences would be valuable for us to know. Is an auction sale a good idea? Monty’s Answer: A real estate auction is an event conducted by an auctioneer on a certain date, place and time where…

  • Listing tactics of real estate agent under fire

    Reader Question: Hi Monty, I read your articles regularly and find them very helpful and now have a query myself. Our Realtor called us for permission not to present offers below asking price; we agreed, but I don’t understand it. Who does this help? Thank you for your assistance. Jan P. Monty’s Answer: A listing tactic…

  • When do home sellers disclose a murder?

    Reader Question: At what point in the process of selling a house does a Realtor or sellers disclose a murder or suicide in the home? Virginia L. Monty’s Answer: Each state has a law that regulates this question. Most states do not require the disclosure of a death, regardless of the cause. The background The…

  • Young homebuyers torn between relatives

    Reader Question: We are young homebuyers torn between relatives with conflicting opinions about how quickly to act when new houses come on the market. The only suburb that will work for our circumstances is a very competitive market. Many homes sell after only 1-10 days on the market. Sometimes a house is listed on a…

  • Are “get rich in real estate” seminars worth the money?

    Reader Question: Are “get rich in real estate” classes worth the money? We are interested in learning more about real estate. At some point, we may want to do some investing. There seem to be many options; classroom, seminars, online, DVD packages and more. The common threads with many of these offerings promote the concept of becoming…

  • Repercussions of the real estate meltdown still with us

      Reader Question: We recently submitted an offer on a home. The seller’s agent wanted a forty-eight-hour extension to allow the seller’s agent time to discuss our loan with our loan officer before extending a counter offer. Even though we have our pre-qualification letter for the specified amount. Is this common? Our agent assures us…

  • Does a gaggle of hobos affect property values?

      Reader Question: I just purchased a home and, after spending my first few nights there; realize that a gaggle of hobos are living in the driveway of the house next door. The Realtor had told me the heirs of the prior owners inherited the house, and it would quickly be renovated and sold. As…

  • Ten tips to find and keep a good handyman

    Reader Question: We cannot seem to find and keep a good handyman. We are at a loss to understand why they come two or maybe three times, but after that they are booked for months or have some other excuse. We need help. Do you have any advice for us? Don and Betty J. Monty’s…

  • Is shadow inventory a problem for investors?

    Reader Question: Where is one to invest in this market inclusive of the banks shadow inventory. A good example is Clarksville Tn. which appears to be an excellent opportunity, however if you consider Housing and Urban Development (HUD) unoccupied housing information, it paints a very different picture. Monty’s Answer: Unoccupied housing is a serious problem…

  • Help a family conflict with mediation and data

    Reader Question: My sister and I have been in our home since the mid 90’s and only have a $40K mortgage. She is the only one on the mortgage, and we are BOTH on the deed. The problem is we don’t get along, she has cancer and hasn’t worked but is getting treatment and now…

  • Have a plan when selling a home

    Reader Question: We want to plan when selling a home. My ex-husband and brother-in-law have a joint tenancy of five acres with a small home on it. My ex-husband owes me for child support for my younger son, so the state has a lien on it. My ex-husband wants his give his half to our two…

  • Novice homebuyer first attempt disappointing

    Reader Question: We are a novice homebuyer. We are also young and uninformed. Our agent is my aunt who was pregnant and due at any time. I found a house I really liked, but she couldn’t show it because of her condition. I had the agent from the office that had the house listed show…

  • Five tips for companies to reduce relocation costs

     Reader Question:  I work in finance with a mid-size publicly traded company. We outsource our relocation policy to a third-party relocation company. Our relocation company says that short of reducing benefits, there is not much we can do to reduce relocation costs. What is your answer to the question, “Is there anything we can do?”   Bill…