Deeds.com

September 27, 2022September 27, 2022

Could This Be the Season Home Prices Fall?

Summer 2022 has drawn to a close. The pace of U.S. home sales has slowed for most of the year. The issue? It’s the prices. Many hopeful buyers are still waiting for real housing affordability.

Just as we find light at the end of the tunnel, mortgage interest rates for borrowers are over 6%. Maybe that’s not high in the grand scheme of things. Some boomers bought when rates were in the double digits. But the speed of the current rise is amazing.

Here’s Lance Lambert of Fortune magazine on Twitter this week:

The average 30-year fixed mortgage rate moves up to 6.87%. This is getting pretty close to a 1981-level mortgage rate shock.

And with homes so darned expensive (and property taxes soaring right along with them), the current mortgage rate spike is certainly spooking buyers.

September 23, 2022September 21, 2022

When a Relative’s Housing Depends on You

*Sharing Is Caring…But Look After Yourself, Too.*

In these days of sky-high home prices and abruptly rising interest rates, you might be thinking of giving a boost to a sibling, an adult child, or someone else close to you who could use some help.

Here, we look at some example scenarios. How would you approach these situations?

September 21, 2022September 21, 2022

I Rented Out My Vacation Home for a Week. Must I Report It?

If you own a vacation home and only rent it to guests every blue moon, you might wonder: Do I need to report this on my federal income tax returns?

The first thing to know is this. A vacation house, cottage, apartment, mobile home, condo, or boathouse used partially for renting out and partially for personal enjoyment is deemed a mixed-use vacation property. Here’s how mixed uses break down at tax time.

September 19, 2022September 19, 2022

Home Ownership, Zoning, and Variances

You have big plans for your home. You might have a native garden in mind. Or your plans might involve putting a little cottage in back of the main house. Maybe it’s a solar system you want. Or maybe it’s a simple, rustic fence. Perhaps you’re keen to start a home-based business, or offer space to college students.

But what happens if your best-laid plans collide with your town’s zoning rules?

That doesn’t mean you’ve hit a wall. A deviation from the rules might be OK — with permission. Often, this means requesting a variance. Without further ado, here are a few practical things to know about variances.

September 16, 2022September 14, 2022

Pipelines and Eminent Domain: Iowa Homeowners Push Back

When the government decides its stake in a piece of property overrides the landowner’s, it has a process to take over private property. This is called eminent domain. It’s essentially the government forcing a private landowner to sell their residence or business property.

Another word for it is condemnation (which sounds even worse!). Condemnation or eminent domain cases are handled in courts, and traditionally were used for things like road-widening.

Today, some homeowners are being forced to fight a new wave of eminent domain. Residents of rural Iowa are at the core of the current conflict. Their advocates say newly proposed takings for carbon pipeline installations are really giveaways to private corporations.

September 15, 2022September 16, 2022

Hello, Blockchain! Welcome to Wall Street

People with Fidelity 401k or retirement accounts might have noticed a new addition to their home screens: listed among the daily commodity prices is the price of bitcoin. Looks like Fidelity is now poised to allow bitcoin trading in some 34 million individual investor accounts.

Meanwhile, the Bloomberg Crypto Outlook Report points out that bitcoin can’t be printed, and with a finite supply, it’s likely to grow in value over the years ahead. One of Bloomberg’s senior strategists has spoken of bitcoin’s potential when the economy improves.

September 14, 2022September 14, 2022

How a Recession Helps First-Time Home Buyers

For the past two-plus years, sellers ruled. Buyers had to race for homes that entered the market only to be gone within a day or two.

But talk of a looming recession has changed buyer attitudes. Now, the average home is selling below its list price, and that hasn’t happened in a long time, as Bloomberg reports.

The housing market is in reset mode, as the economy has entered a “growth recession” phase — maybe not a full-blown recession, but an obvious financial slowdown.

It’s not all bad news. Finally, some first-time buyers expect to get a break.

September 12, 2022September 12, 2022

Six Questions Homeowners Ask About Fences

From the Frequently Asked to the Bizarre…

Many homes have fences to mark their property’s boundaries. Fences can be helpful reference points for owners on both sides. Or not!

Do you have a fence? Thinking about adding one? Here’s a collection of owners’ questions about fences — from the common to the bizarre.

September 9, 2022September 9, 2022

How to Get a Fair Home Appraisal

Your financial leverage hinges on your home’s appraised value. Whether you’re buying, selling, borrowing against your home equity, or refinancing, the lender may call on a licensed appraiser to determine how much credit to extend to you.

When you’re counting on a good appraisal, is there anything you can do to make sure your home gets the valuation it deserves? This Q&A will shed light on the process — and your influence.

September 8, 2022September 8, 2022

Deloitte Calls Blockchain “Next Big Thing in Commercial Real Estate”

The leading international accounting firm Deloitte has announced a new blockchain report. The firm says blockchain-based smart contracts could “revolutionize” commercial real estate.

Deloitte says blockchain will work for leasing and selling real estate. Indeed, Deloitte says the technology is poised to take on 50% of all commercial rentals and sales.