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 […]
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 […]
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 […]
Reader Question: We bought a one-hundred plus year-old home. Tenants occupied it at the time of purchase, and we couldn’t move in for three months. It is our first house. It has a stone wall foundation and wooden beams supported by screw jacks. An addition has a concrete block foundation. The home inspection called for […]
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 […]
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 […]
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 […]
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 […]
seller picked a poor agent and is seeking advice on how to cancel the listing agreement.
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 […]
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 […]
today’s reliance on agency over caveat emptor does not appear to have had much of an effect. It feels like industry leaders are painting the ceiling when the roof leaks.
The ten flashpoints in real estate contracts are contract subjects to make certain you understand.
Reader Question: Our agent is suggesting that we write an offer on a home we like to include a contingency that we are willing to pay more for the house if another buyer makes an offer at the same time. They would word the contingency so the seller shares a better offer with us and […]
Reader Question: I am purchasing a home. Lender appraisal (A) value came back $48,000 lower than the contract price. Sellers disagreed and argued it was a bad appraisal. I agreed to get a second opinion. Appraisal (B) came back $5,000 over contract price. The two appraisals are miles apart. I was shocked because I was […]