Step 1: Renting vs Selling - Analyze Your Situation
So you’re at the point where you are not sure what to do with your house. You are in a scenario where you either cannot afford the monthly mortgage payment or where you have to move, but your house is now worth less than your mortgage balance. What do you do? Let’s take a look to see if renting out your property would be a smart move. (more…)
Introduction - Economic Overview
This article is aimed at anyone who has bought a house in the past few years.
If you thought the 2007 real estate market was bad, what do you think of 2008? Forget about just the real estate market, what about the whole 2008 economy! Even Alan Greenspan admits that there were errors1 on the Fed’s part in regards to the current housing downturn and credit crisis. If we had just paid a little bit more attention to what Warren Buffet and Charlie Munger2 said in 2005, “he and Munger issued stern new warnings about the residential real estate ‘bubble’” and “the destabilizing effect of hedge funds on the financial markets.” (more…)
When times are tough, you have to do what can do to survive. And that is exactly what Toll Brothers is doing. The luxury homebuilder “has mounted rent-to-own programs in New York City; Singer Island, Florida; and Scottsdale, Arizona, under which tenants have time to rent while they consider buying.”
A couple in Las Vegas posing as real estate professionals were caught “renting out vacant homes belonging to seasonal residents.”
Emilio Gonzales and Melissa Cowan advertised properties for rent on CraigsList. They asked potential renters to sign leases and took security deposits totalling several thousand dollars. Rents were collected in cash at various locations the pair specified. (more…)
5. Whaley House
In 1852, Yankee Jim was convicted of grand larceny and sentenced to death by hanging. The hangman set the noose improperly, allowing Jim’s feet to graze the ground, prolonging the hanging process. In 1856, Thomas Whaley bought the land where Yankee Jim had been killed and built a house for his own family. According to the youngest Whaley daughter, she could hear the sound of boots clomping through the house (more…)
Well, I guess that is one way to “seperate” the assets. (more…)
Yes and no. The following explains how a lease could link your roommate’s credit report and your credit report.
First off, when you apply to rent a property, the landlord or property manager will usually pull both your credit reports. The landlord or property is prescreening his perspective tenants to make sure they have a steady history of paying their bills, and paying them on time. Pulling your roommate’s credit report and your credit report will not link both credit reports. (more…)
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In today’s real estate market, both buyers and sellers are having a arduous time. Many buyers are running into brick walls when trying to obtain mortgage financing, and sellers are dropping the price on their home to attract the small pool of qualified buyers. So if you are one of the many buyers or sellers that do not find the scenario above attractive, there is another option to consider. (more…)
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