The real estate bubble created a huge condo boom in areas like Miami. Now, builders are turning them into rentals and rent to owns. From Realtor.org
Of the 635 pre-construction sales recorded in 2005, only 200 ultimately closed, and only 33 percent of the available rentals have been taken so far.
Condo Vultures say Miami-Dade County’s Multiple Listing Service has 10,800 condos available for rent; and the number leased rose above 2,000 (more…)
That is the idea that Lewis Ranieri spoke about at Holfstra University. Ranieri is the mastermind behind the idea of securitizing mortgages. He proclaims that
the collapse of mortgage-backed securities on a breakdown of checks and balances and scoffed at the way the government is approaching the problem now.
He believes that it will be impossible to restructure all the loans that have been written, and private lease to own homes will take over 1 million houses off the market.
So read Do Not Sell Your House, Rent it! to help determine if renting your home is the best scenario for you, and let’s get those rent to own homes posted!
Source: Can’t Sell? Rent Houses Out
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…)
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…)
Update: You can probably sleep sound tonight knowing that the granite countertops in your home will probably not give you cancer.
According to an article at Realtytimes.com,
the Marble Institute of America says such comments are “ludicrous” because, while granite is known to contain uranium (which can produce radon) and other radioactive materials like thorium and potassium, the amounts in countertops are not enough to pose a health threat.
This article was on the front page of Yahoo and it caught my attention. The New York Times’ Kate Murphy reports:
Allegations that granite countertops may emit dangerous levels of radon and radiation have been raised periodically over the past decade, mostly by makers and distributors of competing countertop materials…granite is known to contain uranium and other radioactive materials like thorium and potassium, the amounts in countertops are not enough to pose a health threat.
Apparently, a married couple had a radon test done in their home and the radon levels were much higher than anticipated. The radon test revealed that the radon levels were 10 times higher by the granite countertop in comparison to any other room in the house.
Maybe cross off granite countertops as a requirement for your next rental property.
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