The inventory of homes is still very tight in desirable metropolitan areas. Hopeful buyers who have not been able to find homes may be wondering:
Could I succeed in buying a house at an auction?
An auction, also called a trustee sale, will widen your pool of potential homes.
It also offers a way to buy at an affordable price. After all, the point of a trustee sale is to recoup money owed on the house, not to make a profit. A bidder may get a deal, then, on an auctioned home.
But are the risks and potential pitfalls just too great to dabble in the auction arena?
Usually, you are up against professional investors and home flippers at auctions. There are reasons to leave these sales to the pros. Let’s walk through the reasons, so you can decide for yourself.
Thinking of putting your child’s name on your house deed? If that’s the person who will get the home after you pass in any case, it might seem sensible. And maybe it is, in certain circumstances. After all, probate can be time-consuming, and even contentious.
But before making this decision, do you know that your child is ready and willing to own a house? And at that point, have you consulted with an attorney and tax specialist about doing things this way? Here are some key issues to spot before obtaining professional guidance.
A home purchase is one of the most rewarding investments most people ever make. That said, it can take courage to be a buyer. Unless the buyer is paying with cash — and few people can or will — buying a house means submitting to the scrutiny of financial experts. It means hoping for the best when choosing a new community. And it can mean a long-distance move.
Here, we talk about moving from state to state, and how interstate home buyers can set themselves up for success with a five-point checklist. Let’s get right into it.
In the Bay Area and Beyond, Housing Shortages Make Higher Densities Inevitable
Governments are beginning to allow accessory dwelling units where they didn’t before. They’re rezoning to allow multiple homes per lot. They have to. They’re responding to a housing crisis that needs answers. Otherwise, a state has no way to supply necessary housing in the face of pressing demand.
But hashing out the policies is no mean feat. There’s plenty of opposition to zoning-up for more housing. Residents might see “density” and think: traffic, parking, noise, and so on, in the parade of horribles that will change the character of the neighborhood. Some assume a correlation between density and poverty. (Reality is not so cut and dried. In many cities, the wealthiest sections are dense sections with high-rise penthouses, while populations in neglected areas are relatively sparse.)
Increased density can be beneficial and necessary. Supporting mid-density or high-density housing can curb sprawl, conserve natural areas, and reduce transportation needs.
In a seller’s market, buyers anxious to start touring homes may
find very few opportunities. Some buyers might try to make offers despite
pending deals, eager to be runners-up just in case a sale doesn’t make it to
closing. Here’s what to know about pending offers, and whether a pending home
could still be available.
In 2018, a couple in Texas stumbled upon an unusual
opportunity. They got a tip that certain rural plots of land in Smithville —
just 50 miles east of Austin — were available for $500. They went for it. Soon,
the couple would order their manufactured home. That’s when the trouble began.
Tiny houses are, as the term suggests, small homes — generally
smaller than modest-sized condos. The price tags are not necessarily tiny, although
they can be. Here, we take a look at the logistics of living in a tiny house.
Solar power is becoming a major real estate trend, as cities,
states, and the federal government all strive to lower their areas’ greenhouse
gas emissions. The U.S. Energy Department notes that rooftop solar costs been halved
since 2014, and system installations are surging across the country. Sunrun and
SolarCity (now part of Tesla) are leading that growth.
Climate-connected reasons aren’t necessarily in the
forefront of homeowners’ minds when they go for it. A lot of the impetus
involves blackouts after storms. Households seeking independence from
overburdened grids are looking to generators, wall batteries, solar panels and tiles.
A storm that could threaten a million homes would have been
rare a generation ago. Not anymore. Today’s hurricanes gather their power over
warming ocean and gulf waters. A warmer atmosphere holds more moisture,
creating heavier rains. At the same time, dry areas of the country are hotter,
and losing moisture. And that increases the risks for heat waves, droughts or