Tagged Questions

A tag for questions on real estate or property.

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0
votes
0answers
117 views

How can I hedge against local home value?

I'd like to hedge against my neighborhood home value. I'm not terribly concerned if the overall housing market fluctuates, since if I move and sell my home for less, I can buy a new home for less. ...
3
votes
1answer
65 views

What are the tax implications of a normal sale of a house?

What are the tax implications of a normal sale of a house, where the owner would make a "profit"? Does it make any difference if the house is owner occupied and for how long they have owned the ...
4
votes
2answers
98 views

Can I invest in the housing market via the stock exchange?

Buying houses is expensive these days, and interest on mortgages is extortionate. Do investments via the stock market exist where you can invest in the housing market? Maybe shares in real ...
0
votes
1answer
32 views

Transferring a Property (with a loan) to a relative in Maryland

We have a property in Maryland, currently in my name, on a loan with a bank. Other than selling the property and having my relative buy it, is there a more cost-effective manner, in which the property ...
4
votes
1answer
157 views

Next option(s) after house is not selling on market?

Lets say I have a house which is pretty old and is not in the best neighborhood. I put in on the market and for one reason or another, even after dropping the price substantially I cannot get it to ...
5
votes
3answers
354 views

What are the transactional costs when buying and selling a house?

I am trying to breakdown all transactional costs related to buying and selling a house as well as their numerical values. For instance, the agents get around 3% in commission each, the inspection ...
6
votes
4answers
1k views

Buying a home without a Real Estate Agent - Who should I get to do the paperwork?

I'm considering buying a home from a friend without the aid of a real estate agent in the hopes of saving everyone the unnecessary 6% commission (since the property didn't need to be marketed). ...
2
votes
1answer
152 views

How do you go about buying a house directly from an owner? I.e. no broker involved?

I live in California. Usually when people buy a house here, they just entrust a broker. The broker deals with all the paper work, etc. for both parties. There are 4 parties involved...seller, buyer, ...
0
votes
1answer
56 views

Homebuyer Credit - 2008 Installment Repayment

I bought my house in 2008. I took the $7,500 credit. I remembered that I have payed $500 each year in 1040. Now I have to fill the tax form this year. How to fill the two textboxs.
4
votes
3answers
418 views

Assessed value of my house

I received a letter from the county tax assessor. It gave me the total appraised value $188,000. I purchased it on Sept, 2008. The price was 216,000. I am shocked at such a big difference. I use ...
6
votes
1answer
227 views

Are commissions paid to realtors for finding tenants for my rental property tax deductable as a rental expense?

I used a realtor to find a tenant for my rental home. I paid her a commission of the amount equal to the first months rent. Is this what turbotax means by Commission Expenses "Commissions paid to ...
10
votes
4answers
313 views

Buying a house for a shorter term

I've lived under the impression that it is never wise to buy a house (as your home) unless you are planning to live there "at least five years" (or something like that). But is this necessarily ...
1
vote
1answer
78 views

Equity or alternative compensation in an LLC?

I am currently working for a real estate startup (LLC) that wholesales REOs nationwide. I was one of the earlier employees to get hired. Since my time of employment, the company has been expanding ...
3
votes
1answer
173 views

New construction closing in a year; how can I lock in mortgage rate?

I've just contracted for a new house in Florida to be built. The closing won't occur for approximately a year. Is there a way to lock in a mortgage interest rate for so long in the future? It will ...
2
votes
2answers
38 views

What determines a tax resident in Florida

As a retired non-US person. I am planning to purchase a vacation home in Florida. I am told i am only allowed to reside there for a maximum of 60 days each calendar year, any longer and I will be ...
3
votes
2answers
1k views

How do banks lose money on foreclosures?

I read that when banks give out a mortgage the bank itself doesn't actually lend any of its money out. It is just accounting that adds the money to the borrowers account and adds the same amount of ...
1
vote
1answer
96 views

What are the tax rules of owning a vacation rental property?

I am considering purchasing a vacation property and renting it out for a majority of the season. Best case scenario I could generate about 50% of the annual cost (mortgage, tax, utilities, ...
4
votes
2answers
114 views

Closing on two mortgages (investment refi & primary home) — is it ok to do them simultaneously?

My wife and are are simultaneously in the market for a new home and trying to refinance a condo we rent out as an investment. The stars may be aligning that both loans could go into underwriting ...
8
votes
5answers
2k views

What is the purpose of property tax?

I currently rent, but have been looking to buy a home. I always imagined how great it would be to have a dream home, worth, say, $500K, and to have it fully paid off. My thought was the only recurring ...
3
votes
3answers
648 views

Why could rental costs for apartments/houses rise while buying prices can go up and down?

In this U.S. city, I have the impression that the rents of apartments and houses always go up, say, about a 5% per year, while the prices of buying them fluctuates throughout the same years. If my ...
13
votes
3answers
462 views

My landlord is being foreclosed on. Should I confront him?

I just found out that my landlord is being foreclosed on. My lease agreement runs out at the end of this month, but I had, through email, agreed to stay for another year (no new contract was signed). ...
2
votes
1answer
67 views

Is a trustee sale winning bid all inclusive, or are prorated taxes & fees due?

Is my winning bid at a trustee sale on a foreclosed home all inclusive, or can the trustee make us pay prorated taxes and home owner association fees? If we must pay the fees, when would they be ...
5
votes
4answers
435 views

What are my investment options in real estate?

In a nutshell, I'm about to graduate from college at 21 with a great degree and have a job lined up that pays just short of six figures. Things are looking good. But I don't want to be a software ...
5
votes
4answers
1k views

Owning REIT vs owning real estate - which has a better hypothetical ROI?

Let's say I want to invest in the real estate market because I am bullish on it. Consider two options: invest in REITs or actually purchase real estate. My question is which option has a better ...
2
votes
2answers
159 views

How can one offset exposure created by real-estate purchase?

Is there any viable way to offset exposure introduced by buying a real-estate (house/land)? By "way to offset" I mean financial instruments (like derivatives) that you can buy to decrease the risk of ...
6
votes
4answers
557 views

How can one hedge against property price change when buying a home?

Let's say I want to buy a home, with intent to sell it down the road ( < 10 years). If I want to minimize my exposure to market fluctuation, what would be the best way to accomplish that? I ...
3
votes
1answer
986 views

How much does a tenant eviction cost in Miami and New York City?

I heard it's easy to evict a tenant that does not pay the rent in US (at least easier than in Italy). I heard in 60 days comes the sheriff and kicks the tenant out of the flat. I suppose the ...
5
votes
3answers
4k views

What is the standard real estate commission to sell a million dollar home?

I want to list my condominium for US $1.3 million. How can I decide on a fair real estate commission?
4
votes
3answers
635 views

Can I check multiple lenders for mortgage rates, via preapproval, and have it only count as one hard inquiry on my credit?

Note: This applies to the State of New York (the NYC metro area), in the United States. I'm shopping around for mortgage rates. I'm not sure if I have to get a preapproval mortgage to get their ...
6
votes
3answers
193 views

I have an “excellent” credit rating. Do I need to get a preapproval mortgage letter?

I'm in the infancy of buying a residential property. I have a credit rating of EXCELLENT. Do I need to get a preapproval mortgage letter? I thought that getting preapproved would expedite the ...
9
votes
1answer
271 views

What are the risks in buying a property from a “Tax Deed” auction?

Recently, I was approached by a friend of my wife's, and she said that she and her husband were making a lot of money bidding on properties that went up for sale in our area, at auctions like this ...
5
votes
2answers
375 views

Why is mortgage interest deductible in the USA for a house you live in?

In Australia, if you have a mortgage on the house you live in the interest and other expenses are not tax deductible, unless you rent out one or some of the rooms or run a business from your home, in ...
1
vote
1answer
173 views

What is the list of free bank house appraisal like the Chase home value estimator?

What is the list of free bank house appraisal in US like the Chase home value estimator? I want good ones like the chase.
4
votes
2answers
495 views

Tax implications of short sale with second mortgage?

I short sold my home this year and was told by my Realtor that the government forgives taxes which would normally be owed by selling a property for a loss. I had heard this before and assumed it would ...
5
votes
1answer
83 views

Complications dividing real estate for a married couple vs unmarried

What complications should be expected when an unmarried couple's relationship fails after they have purchased a house together? How does this situation compare to that of a married couple?
11
votes
2answers
253 views

What are the most important things to ask a real estate agent before hiring them?

I've been researching the best ways to search for a home, and questions have come up about real estate agents. Getting a good real estate agent could potentially save you thousands of dollars, but ...
4
votes
3answers
1k views

What's my risk of buying a house for a friend and sell back to him?

I'm in a situation and need some advice. A friend of mine is in the middle of Chapter 11. He asked me to help to buy his house and in a few months sell back to him, so he can force the bank to lower ...
2
votes
1answer
821 views

How can I get a loan secured with free and clear land?

I own a piece of vacant land free and clear. I have an immediate need for cash and would like to take out a loan secured by my property. The land was last appraised at $980,000. I cannot pay a ...
7
votes
5answers
616 views

Making an offer on a property - go in at market price?

My roommate and I have talked about purchasing a home together and with interest rates being as low as they are, and the fact that we'd be able to get pre-approved for a good amount we decided to give ...
6
votes
4answers
3k views

Are parking spaces and garage boxes a good investment?

Suppose, the following scenario: You have an investment budget available to buy a parking space or garage box. (In Belgium that would be around €25000 ($30K).) currently the saving accounts make ...
8
votes
4answers
6k views

Landlords: what's the maximum amount of time to allow a guest of tenant to stay in a rental?

As the title says, but with these details: I have a rental unit; this situation has come up with a potential tenant. This tenant has an adult daughter, who, the tenant volunteered, has an unstable ...
4
votes
1answer
403 views

How can I save LLC fees when investing in Arizona real estate from California

My sister, brother and I (who live in California) want to invest our money in Arizona real estate. We would like to hold the property in an LLC for liability reasons, and we would really like that LLC ...
10
votes
1answer
2k views

Can I get a mortgage if I'm employed by my own company, rather than self employed?

My partner and I are looking to buy a house as soon as possible (i.e., the second we have the deposit in the next 3-4 months). My partner is currently in full time work but we want to focus on our own ...
3
votes
1answer
83 views

Am I required to use the listed agent on a property?

I live in Florida and am about to be a first-time buyer. Am I required to use the real estate agent/agency whose sign sits in the yard of the property in which I am interested? Are they the current ...
2
votes
0answers
154 views

HST vacant lot severed from a farm for sale, zoned residential but still has crop on it

I am considering selling a piece of land that was severed as a residential lot from our family farm. The crop has been planted on it, even though it was legally severed as residential. If I sell ...
4
votes
3answers
144 views

How to find a real-estate agent for buying a first home?

How soon should I find a real-estate agent? I am probably going to buy my first home in September and am assuming I will need an agent. So when should I contact one?
11
votes
3answers
456 views

How do people trade up from one house to another?

Newbie question here folks. My wife and I currently own our first (20% down on a condo in San Francisco in 2009; fixed 30-year loan). Obviously at some point (maybe 2-4 years from now) we would like ...
2
votes
2answers
660 views

How do historically low interest rates affect real estate prices?

30-year fixed interest rates have hit a historic low today: 3.83%. I happen to live in the second hottest real estate market in the nation and am considering purchasing my first home, which would be ...
6
votes
1answer
166 views

Keeping our current home (second property) as a rental. Will it interfere with purchasing a third home?

Prior to moving to our current location, my wife and I lived in a one bedroom condo. We continue to own the condo, owing about $80k on it. We get enough rental income that we make a profit after condo ...
9
votes
2answers
243 views

What investments are positively related to the housing market decline?

What investment sectors/areas generally go up when housing prices decline?