The Stresses of Buying Distressed Homes Home buyers are finding that the battered real-estate market offers just as many opportunities for headaches as for bargains. Seth and Crystal Grotzke, both 25 years old, recently bought a bank-owned two-bedroom, two-bathroom townhouse in Edina, Minn., for $110,000—when similar homes in the same development were selling for as …
Category Archives: Real Estate
Leaving Affordable Mortgage May Become Winning Gambit [Southern California]
Leaving Affordable Mortgage May Become Winning Gambit [Southern California] Scott Conroy pays the mortgage every month on his one-bedroom condominium in San Diego, even though it’s worth 33 percent less than what he owes and it may take more than a decade to break even. Homeowners like Conroy who can afford their monthly payments are …
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How to Land a Foreclosure House
How to Land a Foreclosure House Buying a foreclosure home often is appealing to house hunters trying to stretch their dollars. But finding a good one can be a challenge. “The vast majority of the banks don’t want us to advertise [foreclosure homes] as ‘bank-owned’ because it comes with a negative connotation,” says Ryan Melvin, …
Be wary of buying into homeowner association
Be wary of buying into homeowner association It has always been wise to take extra care when buying a house or apartment in a community governed by its owners. But nowadays, with so many people behind on their mortgage payments, even a fire-sale price from a desperate seller could quickly lose its luster if too …
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Apartment (REIT) Hunting
Apartment (REIT) Hunting Can the sluggish economy really justify the prices investors are currently paying for stocks? That’s the question on traders’ minds these days, and it certainly applies to real estate companies, which have seen their shares roughly double since the market’s financial crisis nadir in March, easily trumping the S&P 500’s mere 57% …
Buying a condominium requires research
Buying a condominium requires research Condos are a popular choice for first-time buyers as well as homeowners who want to downsize because they tend to be less expensive than single-family residences. Also, they usually require less maintenance. Condominium owners belong to a homeowners association that collects dues, usually on a monthly basis, to pay the …