I was planning to write about roofing this week, but our drought deserves a little more attention. While this lovely rainstorm should help, it can lull people into a false sense of security. We are way behind on rainfall, so we need to keep conserving water. Here are a few ideas on how to do … Read more
The Internal Revenue Service is putting things right by not taxing non-existent income on short sales for single-family homes. If that doesn’t make much sense, it’s because you are a logical person who can’t understand why anyone would get taxed on non-existent income. However, that’s what was happening. A short sale, you will recall, occurs … Read more
When you sell a house, you are legally obligated to disclose anything that would negatively affect the value of the property or a buyer’s interest in owning it. So, if you’re selling your home, you probably have quite a list to compile. In Mendocino County, real estate agents typically use an 11-page document that covers … Read more
Most people in real estate don’t expect interest rates to stay down much longer. As unemployment drops and the economic recovery gains momentum and therefore demand for business borrowing, the pressure to raise interest rates increases. In addition the federal government has spent $17,000,000,000,000 more than they had. They therefore borrowed the money. This results … Read more
In a real estate transaction, as in most transactions, it’s important to know who is responsible for what. If your house doesn’t sell as quickly as you hope or you can’t find the home of your dreams, whose fault is it? If your house sells in a day or the first house you view is … Read more
A reader recently asked if I’d write a column explaining how property taxes are assessed, how they can change, and how Proposition 13 affects the whole situation. So, here you go. The money you pay in taxes is based on two things: the assessed value of your property and the tax rate for your area. … Read more
I’ve talked about how to hire a realtor and a lender, but they probably won’t be the only professionals you need during your real estate transaction. You may need an insurance agent, home inspector, pest and fungus inspector, several contractors, landscapers, appraisers, and others. I’ll cover some of these in this column and some next … Read more
I was recently asked how important water is when deciding whether to buy a rural property. My answer? It’s about as important as water is to your body–yep, it’s that important. If you’re considering building a home on a property that has no water district, three primary options are open to you: drill a well, … Read more
Last week, I talked about how to hire a realtor. This week, I thought I’d review the basics of hiring a lender. A lender’s job is to find a loan with the best rate available for you. With the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, banks now have very little flexibility, … Read more