Explanation of Greenwashing and Green Home Advertising
Greenwashing is a term I had not heard before, not until David Syring of Listed Green brought it to my attention.
Yet, now that I know what it is, I see it everywhere. It's like that new car you have your eye on. You might never see another car like it until you buy that car. Then it's ubiquitous. In fact, you might begin to wonder why you bought such a popular car!
Lots of aggressive marketers are trying to capitalize on the term "green." If they can make you believe that the product (or home) that you are buying is good for the environment, you, as a concerned consumer who cares about the environment, might be tempted to make that purchase over another that is not touted as green.
David Syring has written an informative article about how to figure out if the home you plan to buy is green and whether its advertising is accurate or deceptive
. . . read more about greenwashing.
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Explanation of Greenwashing and Green Home Advertising originally appeared on About.com Home Buying / Selling on Friday, March 12th, 2010 at 05:00:05.
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Tearing Down a House
It costs less than you may think for tearing down a house.
While it's often sad to witness the demise of a long-standing structure, sometimes tearing down a house is the only solution that makes sense. So, how do you determine whether a home has outlived its useful life and is a candidate for demolition? Savvy home buyers follow a three-step process:
Your first step is to check with city planners to find out if the home qualifies, because not every structure can be legally removed, especially those entrenched in historical urban neighborhoods. Second, get bids from three to five licensed contractors. When I wanted to tear down my old 10 x 12 storage shed, for example, the bids I received stretched from a reasonable number to ten times as much. The third step
. . . read more about Tearing Down a House.
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Tearing Down a House originally appeared on About.com Home Buying / Selling on Wednesday, March 10th, 2010 at 05:00:08.
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Why Wachovia Short Sales Are Special
I can't begin to sing the praises loudly enough of a Wachovia short sale.
It's not that so many short sale banks are so totally messed up that they can make the process convoluted and complicated -- although that is true in many cases -- it's that Wachovia has streamlined the short sale process to a science. Wachovia has its act together regarding a short sale. Some of my Sacramento Wachovia short sales get approval in two weeks. Two weeks!
You have no idea of the short sale hell you've been through until you get a chance to experience the golden egg of Wachovia short sales . . . read more about a Wachovia Short Sale.
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Why Wachovia Short Sales Are Special originally appeared on About.com Home Buying / Selling on Monday, March 8th, 2010 at 05:00:11.
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Writing Off a Home Loss When Turning a Residence Into a Rental
Since so many sellers are taking a financial hit to sell in our soft real estate market, it really adds insult to injury if a seller can't write off that home loss come tax time.
Yet, our current IRS tax code is pretty explicit regarding how it handles the sale of a personal residence. As long as you've lived in the home for two out of the past five years, you will not pay taxes on $250,000 of capital gains ($500,000, if married) upon sale. That pertains to profit, though, not a loss.
If you've suffered a loss on the sale of your home, you're not ordinarily entitled to deduct any of that loss from your taxes.
However, it made me wonder if there was a tax loophole. Suppose, for example, that you've converted that home into a rental? Would that provide a way to deduct a loss upon sale? To get an answer to that scenario, I turned to Julian Block, a tax lawyer from Larchmont, New York
. . . read more about home sale losses.
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Writing Off a Home Loss When Turning a Residence Into a Rental originally appeared on About.com Home Buying / Selling on Friday, March 5th, 2010 at 05:00:11.
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Advertising Words for Home Selling
Before you place an ad in the newspaper to sell your home or post an online listing, stop to think about the advertising words you choose.
Choosing the wrong advertising words can cost you a buyer, but even more important, choosing the wrong advertising words can result in a fine of $10,000 or more. Many people are unaware of which advertising words constitute discrimination and violate the Fair Housing Act.
The popular online classified site, Craigslist, was sued a while back by a group of lawyers for allowing discriminatory housing ads on its site. Now, you may not agree with the Fair Housing Act, but nonetheless, it is the law, and seven classes are protected. I receive a lot of mail from readers who can't understand why they are not allowed to advertise that a home is located near a church, for example
. . . read more about advertising words.
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Advertising Words for Home Selling originally appeared on About.com Home Buying / Selling on Wednesday, March 3rd, 2010 at 05:00:24.
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Dangers of Buying a Foreclosure Flipper Home
There is a huge difference between buying foreclosure flippers and homes that regular owner occupants have remodeled.
If your agent hasn't done a little research on the history of the home, you might never know whether you're buying a foreclosure flipper. There are dangers inherent with buying a foreclosure flipper. With a regular seller, you can be relatively assured that the seller made the improvements with thought, care and quality workmanship; although, not always. But most sellers fix up their homes because they want the upgrades for themselves.
Not necessarily so with a foreclosure flipper bought at auction by an investor. Some investors care only about quickly turning over that home so they can immediately buy another . . . read more about Buying Foreclosure Flippers.
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Dangers of Buying a Foreclosure Flipper Home originally appeared on About.com Home Buying / Selling on Monday, March 1st, 2010 at 05:00:50.
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Removing Assets From Homes in Foreclosure
A seldom-discussed issue concerning homes that are in foreclosure is the rising practice of removing assets from foreclosures.
Many home owners do not understand what constitutes a fixture in the home and, as such, a fixture must remain in the home. Some sellers are so desperate for money that they rip out the wiring in the home and sell it for scrap. Owners in foreclosure rarely stop to think they are committing a crime when they remove ceiling fans or sell the built-in dishwasher.
Still, others don't blink twice when they pick up a can of spay paint and begin decorating the walls and windows with graffiti. I suppose they figure they are "sticking it to the man" when they deface a home, but it makes me wonder what goes through their heads. How can they destroy a home that once held warm memories as a place to raise their family? Moreover, how can they possibly think there will be no ramifications for vandalizing a home that will soon belong to the bank?
The truth is the bank isn't overly concerned about the condition of a foreclosed home because the next buyer will deal with fixing it up. Banks aren't in the business of restoring stripped homes, but they, along with an entity that may astonish you, DO hold the power to prosecute
. . . read more about Removing Assets From Foreclosures.
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Removing Assets From Homes in Foreclosure originally appeared on About.com Home Buying / Selling on Friday, February 26th, 2010 at 05:00:02.
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Ways to Stop a Foreclosure Before It's Too Late
The best way to stop foreclosure is to make up your back payments before the bank forecloses.
But not all home owners realize that foreclosure is pending when they miss making a payment or two. By the time they realize that foreclosure is imminent, many sellers throw in the towel and do nothing. Some become depressed and stop making payments to any creditor, feeling like their only choice at this point is to file for bankruptcy protection. But even as credit card bills pile up, there are still ways to stop the foreclosure from happening.
The first thing home sellers facing foreclosure should do is make out a list of all debts -- including an itemization of principal balances and payment amounts -- and then list all available assets, resources and present income potential. This analysis will give home owners a clear picture of their financial status
. . . read more about ways to Stop Foreclosure.
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Ways to Stop a Foreclosure Before It's Too Late originally appeared on About.com Home Buying / Selling on Wednesday, February 24th, 2010 at 05:00:15.
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Mortgage Fraud on the Rise at Major Short Sale Banks
An alarming number of banks recently have been urging sellers to commit short sale mortgage fraud as a condition of short sale approval.
It's happened to me in Sacramento several times already. Most recently, a well known bank sent an email to a law firm that is negotiating a short sale for one of my sellers. The bank said: "If the first [lender] won't allow funds on the HUD, then the seller needs to send a certified check for $XXXX. Once the funds are received, the investor will issue approval. Make [the] check payable to [us]."
I read it and my eyes widened. The same thing happened on another short sale I was working on last week. Only that time it was a different major bank. And the second loan was purchase money, which is not subject to a deficiency judgment in California. The bank said cough up the cash or it would not approve the short sale, and demanded that the seller pay the bank directly. When we explained it is mortgage fraud to pay monies outside of escrow without disclosing that sum on the HUD, the bank did not care . . . read more about Short Sale Mortgage Fraud.
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Mortgage Fraud on the Rise at Major Short Sale Banks originally appeared on About.com Home Buying / Selling on Monday, February 22nd, 2010 at 05:00:17.
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How to Protect Your Pets During a Power Outage
Most people don't think in advance about their pets and power outages until they're in the middle of a power outage.
The thing is you don't normally know how long a power outage will last. Pets are usually OK with a power outage duration of a few hours, but once the clock ticks past that time frame, your pets could be in trouble. The time to think about protecting your pets is before the power goes out.
For example, fish can better withstand a power outage if you have in reserve a battery-operated air pump for the aquarium. The air pump will put oxygen into the water, which fish need for survival. Keep a supply of fresh batteries on hand, too.
Birds need protection and to be moved away from drafty windows and doors, but their fragile respiratory systems are too sensitive to be exposed to fireplaces or space heaters. Reptiles such as snakes and lizards need warmth, and battery-powered heat lamps will help to maintain a comfortable temperature for them.
Your furry pets need reassurance, comfort, warmth and sustenance during power outages as well. If circumstances dictate that you immediately vacate your premises, you should have an emergency bag pre-packed for your pets as part of a pet emergency plan. If all else fails, and time has run out, you can always dump the pillows out of your pillowcases
. . . read more about Pets and Power Outages.
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How to Protect Your Pets During a Power Outage originally appeared on About.com Home Buying / Selling on Friday, February 19th, 2010 at 05:00:43.
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