Articles filed under Real Estate

• Condo presidents do have a vote May 26, 2012 12:00 AM
  Q. The president of our homeowners association never votes on issues that come before the board, unless there is a "tie" vote. When asked about this, the president responds "it's the law." Is it?
  

   

• An older home with a ‘breathing’ problem May 26, 2012 12:00 AM
  Older homes were usually built to "breathe." It was during the fuel-shortage crisis of the 1970s, when homeowners began to seal and insulate their homes to save energy, that indoor mold contamination became a noticeable health issue.
  

   

• There’s nothing unusual about pre-approval letter May 26, 2012 12:00 AM
  Q. I'm confused. To purchase a property we are looking at, we need a commercial loan. My realtor says she can't bid unless we have a pre-approval letter from a bank. But the bank wants to know the purchase price of the property before they will preapprove us.
  

   

• About real estate: Nation’s biggest lender offers payments to troubled homeowners who will leave May 26, 2012 12:00 AM
  Bank of America, the largest lender in the U.S., has launched a plan to pay borrowers up to $30,000 if they cannot make their mortgage payments and now face foreclosure.
  

   
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  Ask the plumber: ‘Smart-divide’ model can solve sink dilemma May 26, 2012 12:00 AM
  Ask the plumber by Ed Del Grande.
  

   

• How borrower-ordered appraisals are a better way to shop for mortgages May 26, 2012 12:00 AM
  Those seeking a mortgage would benefit if the process switcheed from a system of lender-ordered appraisals to a system of borrower-ordered appraisals. There are several hurdles to such a switch, but they are not insurmountable.
  

   

• Home inspector: Homeowners association won’t repair property May 25, 2012 12:00 AM
  Q. For the past six years, the board of directors of our condo association has been dragging their feet on major repairs, including water damage and mold. Each homeowner has been assessed an additional $3600 in the past two years, yet nothing gets done. We would like to sell our unit, but until these repairs are completed, this may be impossible. What, if anything, can be done to get the HOA to act?
  

   
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  Modern twists on wood furnishings May 25, 2012 12:00 AM
  Industrial designer Robert Hendrick was on a tech career track out of college until two things happened that changed his trajectory. First, he bought a company that maintains and rebuilds railroad tracks. Then he started spending Saturdays building stuff with his father, Jim.
  

   

• The nation’s housing: Boomers and refis: a warning May 25, 2012 12:00 AM
  WASHINGTON — It's a mortgage problem that is likely to intensify as homeowning baby boomers by the millions shift into retirement: Though they may have significant financial assets tucked away in retirement accounts, their diminished monthly incomes may not be sufficient to meet some lenders' hyper-strict underwriting rules.
  

   
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  U.S. sales of new homes rose 3.3 percent in April May 23, 2012 12:00 AM
  Americans bought more new homes in April, the latest signal that the U.S. housing market is steadily improving. The Commerce Department said Wednesday that sales increased 3.3 percent in April from March to a seasonally adjusted annual rate of 343,000. Sales were up in all regions except the South. The median price rose to $235,700, a slight increase from March. Even with gain, the pace of new-home sales is well below the 700,000 annual rate that economists equate with healthy markets.
  

   
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  Ask the plumber: Finishing up on faucet finishes May 20, 2012 12:00 AM
  I recently wrote about the brushes-nickel finish gaining popularity for kichen and bath fixtures. Here's three more popular finishes to keep in mind, and the benefits to each, if you're buying a new faucet. Plumber Ed Del Grande answers readers' questions.
  

   
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  Suburban homeowners have plenty of choices for fencing May 20, 2012 12:00 AM
  Dan and Natalie Bishop didn't have a fence around the backyard of their home in St. Charles. But with a 1-year-old son and the prospect of getting a dog, the couple decided it was time to provide some added safety and privacy. And with more fences being produced in an array of materials, colors and styles, and even solar lights or self-closing mechanisms, homeowners can find what they want.
  

   

• Law talk: Despite precautions, buyers of short sales take a risk May 20, 2012 12:00 AM
  A reader who bought a house on a short sale found $4,000 in damages after the closing. He wonders if he can go after the former owners for damage done during the move out. Attorney Tom Resnick answers readers' questions about real estate law.
  

   

• Mortgage professor: A better way to shop for mortgages May 19, 2012 12:00 AM
  The two most important pieces of information mortgage applicants should have in entering the market is their credit score and the appraised value of the property they are interested in buying. The way appraisers are hired now is backwards, and discourages mortgage shopping.
  

   

• On homes and real estate: Holding a mortgageMay 19, 2012 12:00 AM
  Q. I have someone who has asked me to be their mortgagor, and I was wondering, how does one go about the paperwork? Are there standard forms to be used? How does one file the mortgage lien? Would a real estate attorney be advisable or necessary? I have the wherewithal and based on current equity markets and savings rates, this looks like a better income rate. Advice?
  

   

• CondoTalk: Limits on late fee charges May 19, 2012 12:00 AM
  Q. Our condominium association imposes a $25.00 late charge every month that an owner's account has an open balance. I seem to recall reading that this is not permitted. Am I correct?
  

   

• Seller has few options when a buyer’s ‘preapproved’ loan is nixedMay 18, 2012 12:00 AM
  Suing a buyer or bank after a home sale falls apart usually is a fruitless proposition.
  

   

• The nation’s housing: FHA may ease rules for mortgages on condos May 18, 2012 12:00 AM
  Thousands of condo unit owners and buyers around the country could soon be in line for some welcome news on mortgage financing: Though officials are mum on specifics, the Federal Housing Administration is readying changes to its controversial condominium rules that have rendered large numbers of units ineligible for low down-payment insured mortgages.
  

   

• How inspectors examine your homeMay 18, 2012 12:00 AM
  Q. I don't understand how a home inspector who is not an electrician can evaluate an electrical system; who is not a plumber can evaluate a plumbing system; who is not an HVAC contractor can evaluate a furnace. Can you explain?
  

   

• Super handyman: Don’t trust your eyes only; use a level on your projects May 18, 2012 12:00 AM
  Have you ever finished a project and noticed that one side is crooked, not true or not even? It doesnt matter how great the paint job is if the trim is not straight. Whatever project or repair work you take on is going to turn out better if you use a level.