Category: General

Know the Signs

Have you noticed homes for sale on the Facebook (Meta) Marketplace? Or Craigslist? Some of the listings offer a great way to spot a home. But shopping for homes online is not without risks.

This year in Florida, three scammers have swindled more than a dozen people who thought they were browsing homes for rent on Facebook. The three are accused of perpetrating real estate fraud crimes in the city of Homestead and in Miami-Dade County.

As reported by Local 10 News, police are investigating the three suspects. All three could be implicated in an organized scheme in at least nine separate fraud cases carried out in February and March 2022.

One of the three, Priscilla, has been identified as a tenant in a home the group listed. Priscilla is currently resisting an eviction notice from the real homeowner.

Priscilla has repeatedly masqueraded as a listing agent. The other two have presented themselves as homeowners. Together, the clique has drawn hopeful residents to the unoccupied houses they claim to be renting out.

Continue reading “Social Media Real Estate Scams”

Smart Construction Gains Ground

In San Mateo, California, tech-focused real estate developer Veev wants to turn the U.S. housing crisis into an opportunity. The state needs about three million more housing units.

Veev has multiple backers, including homebuilding giant Lennar’s future-focused LenX arm. Veev says its panel construction method is faster cheaper, and eco-friendlier than the typical builder’s approach. Its steel-frame structures have smart sensors and use electricity sources sparingly.

The company started with accessory units for home properties, and it’s now doing full-sized homes in its factory, TechCrunch recently reported. Veev has already partnered with Lennar to build a townhome community with more than 100 units in Northern California.

Veev’s version of housing materials are specially designed to be lighter, stronger, and lower in waste and carbon emissions than their traditional counterparts. And the company says its end-to-end manufacturing process gets homes ready for buyers about four times as fast.

Continue reading “The Rise of the Digital Pre-Fab Home”

Vacant “Zombies”? Someone’s Investments?

More than 16 million homes in the United States are empty. Right in the middle of a painful housing shortage. What is going on?

One issue involves mortgage default. A few people are starting to walk away from their mortgage debt, now that lenders are allowed to foreclose on borrowers. There are other reasons — owners moving into care settings, people holding second homes, or investors accumulating real estate as a store of value — that account for empty homes.

Census data indicate high rates of vacant homes in Vermont, Maine, Alaska, West Virginia, Alabama, and Florida. Some, of course, are vacation homes. Some are on the market, waiting for buyers — but usually not for long. Some have been collecting cobwebs for years.

Whatever the reasons, something needs to be done. And cities are being pressed to bring unattended living spaces back to the market for people who need them.

Continue reading “Cities Zero In on Empty Homes”

Buying a home? Wondering how much the seller has to tell you about its condition?

It’s an important question to ask, so let’s explore it.

Under the laws of most states, it’s a seller’s duty to inform a buyer about known “material defects” that could otherwise go unnoticed by the buyer. So, the homeowner’s agent provides a state-approved form, the seller’s property disclosure statement, to the homeowner. The form must be completed according to the owner’s first-hand knowledge of the home.

After declaring known, house-specific issues on the form, the owner discloses any anticipated impacts (negative or positive) on the property value and desirability. News of future construction planned in the area, or similar information, is pertinent. It’s best for a seller to be open about information a typical buyer would want to know. 

Continue reading “Defining “Material Defects” in the Seller’s Disclosure”

The New Market Influencers

Millennials, according to Goldman Sachs, are seeking something previous generations might not have prioritized. The bulk of today’s new homeowners don’t just seek curb appeal. They have developed an eye for what supports their long-term health and the health of the planet. These are key areas where millennials and younger buyers are comfortable spending their money.

Homes that integrate sustainability and wellness are all the more attractive because of their scarcity. This point isn’t lost on home designers, real estate agents, and a growing number of sellers. Let’s see what’s happening for 2022 and beyond.

Continue reading “How Younger Buyers Are Changing Home Preferences”

Did You Claim Everything?

It’s that time again. Here, we note 6 checklist items, to help ensure your ducks are in a row for Monday, April 18, 2022 (or Tuesday, April 19 if you live in Maine or Massachusetts).

Continue reading “Eleventh-Hour Tax Tips for Homeowners”

Is There Profit in Your Property?

Renting is a critical market today. Why is renting on the rise? For one thing, many people have not been able to buy into today’s sky-high real estate market. Shortages of workers and supplies are intensifying already-existing housing shortages. Decent and affordable places to live could not be more vital.  

At the same time, the shift to remote and hybrid work has dispersed workers and opened up opportunities for homeowners to rent out space in various locations. This can create win-win situations for owners and their renters.

Have you thought about of trying your hand at turning your extra living space into much-needed housing — and a business opportunity? If so, here are 4 points worth considering.

Continue reading “Four Thoughts on Starting a Small Rental Business”

Ready to Buy a Home?

Choose a good mortgage consultant, and you’ll have support throughout your loan application journey. You’ll probably get a lot of phone calls along the way, but it’s all to help you and your real estate agent prepare to head to the closing table.  

Knowing what’s coming will help you stay calm and focused. Here are some thoughts on how to navigate the journey in style.

Continue reading “How to Work With a Lender and Win”

More Than a Mortgage

Imagine you’ve made it through closing. You’ve purchased a reasonably priced home. You paid around $5,000 for closing cost fees, taxes and insurance; another $2,000 for moving in and fixing up. You have a an ample reserve fund set aside in your bank and retirement accounts. You know you’re going to make the mortgage loan payments and interest (plus homeowners’ association payments, where applicable). Your budget is ready. Homeownership is your new reality.

Of course, along with your mortgage, you’ll have other expenses to anticipate. Insurance. Repairs and upkeep.

Let’s look at these expenses. Then, you can enter them into your budget, and see what you’ll really need to keep up a home. Here goes…

Continue reading “The Cost of Owning a Home”