Dear Monty: We are considering buying a home in a homeowners association. The agent calls it an HOA. We have heard both positive and negative reviews about the concept. Are homeowners associations a good idea? Monty’s Answer: There are many homeowners associations. Estimates vary, but the U.S. Census Bureau has published data on the number…
Nearly 1 in 5 American Homes Bought by Investors in Last Quarter Sales
November 16, 2021
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Business & EconomyBusinesses in COVID-19Economieseconomyhome ownershiphome pricesinflationInvestmentMarketsmortgagereal estaterentUS
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Almost 1 in every 5 American homes sold in the third quarter of this year was bought by an investor entity rather than an individual looking to live in or rent out the home, according to data from Redfin, a brokerage. Investors snatched up more than 90,000 houses totaling more than $63 billion, representing 18…
Investors Bought Nearly 1 in 5 American Homes Sold in 3rd Quarter
November 16, 2021
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Business & EconomyBusinesses in COVID-19Economieseconomyhome ownershiphome pricesinflationInvestmentMarketsmortgagereal estaterentUS
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Almost one in every five U.S. homes sold in the third quarter of 2021 was purchased by an investor entity, rather than an individual looking to live in or rent out the residence, according to data from Redfin, a real estate brokerage. Investors bought more than 90,000 houses totaling more than $63 billion, representing 18…
Single Family Rentals on the Rise
While home ownership has always been the American dream, there are millions of families in the United States who believe home leasing is equally dreamy. In fact, the National Rental Home Council (NRHC) indicates that there are more single-family homes for rent—at 23 million—than there are apartment units at 20 million. Recent statistics from the…
The Best Way to Interact With the City Assessor
Dear Monty: What is the best way to interact with the city assessor? Can you guide us on market value versus assessed value? More specifically, what factors dictate assessed value? When we purchased our house, the real estate agent went to great lengths informing us that the potential for the market value to rise is…
Why Are Real Estate Companies Advertising They Will Buy Your House?
Dear Monty: We are not planning on selling our home just yet. One of the curious observations we have is that real estate companies have started to promote buying our home within the last year. The idea is that by selling directly to a real estate company, we can avoid the hassle and uncertainty involved…
Should We Fix Up Our Home Before Selling?
Dear Monty: We recently read an article urging homeowners to update their homes before putting them on the market. According to the writer, the rationale for doing so is that homebuyers are attracted to up-to-date homes. The writer states that these homes bring more buyers, so the competition between buyers is likely to get a…
4 Most Common Problems When Children Inherit the Family Home
September 5, 2021
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AdviceBusiness & Economyestate planningFamilyFamily & HomeHOMEhome ownershipLife & Traditionpersonal financereal estate
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Dear Monty: My husband and I are in our 70s. We are thinking about leaving our home to our kids when we are both departed. We are a close family, and they all enjoy coming home with their kids. We have received advice from our friends. Some think it is a beautiful idea, and others…
My Neighbor’s Tree Fell on My Property
Dear Monty: My neighbor’s tree fell on our property. It destroyed our brick fence, and we have significant damage to the garage. My insurance agent gave me a very vague response about the insurance adjuster determining liability. She said she would come out in the next few days. She also hinted that my policy might…
6 Ways to Do-It-Yourself Home Search
Dear Monty: We want to buy a home, but we have been outbid twice already. Agents say few homes are coming on the market, which is a big reason for the high prices. Do you have any suggestions about how we could find a home on our own? Monty’s Answer: Here is what USA Today…
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