Monthly Archives: May 2010

Spec Home for Sale: Should I ride the market out or try to rent?

Posted on May 18, 2010 by admin

bigboatguy asked: I have a spec home on the market (Metro Detroit – the foreclosure capital!) and the carrying costs are starting to add up. I’m wondering if I should try to rent it out to cover my expenses, or … Continue reading →

Posted in Renting & Real Estate | Tagged Being A Landlord, Carrying Costs, Construction Loan, Current, Fly, Foreclosure, Housing Market, Metro Detroit, Money, Pros And Cons, Pros Cons, Rent, Renting, Sit | 4 Comments

when u short sale your home, what happens to the remaining balance owed?

Posted on May 7, 2010 by admin

Mr. T asked: Say I owe $200,000 left on my mortgage balance, and I then short sell it for $130,000. What happens do the remaining $70,000? Does the bank just eat it or is there a tax liability? If that … Continue reading →

Posted in Investing | Tagged Loan Modification, Mortgage Balance, Tax Liability | Leave a comment

I will loose more money on my home sale than I can pay; what are my options other than bankruptcy?

Posted on May 6, 2010 by admin

pizon101 asked: I have absolutely no other debt. I can liquidate every asset that I have and likely not cover 100% of the loss….AND I would have a difficult time functioning. I.E. get to work, get groceries, etc… I guess … Continue reading →

Posted in Renting & Real Estate | Tagged Bankruptcy, Down Payments, Groceries, Guess, Lawyer, Money, Options, Stringent Requirements | 3 Comments

Drop in Home Sales, Oil Weigh on Stocks

Posted on May 4, 2010 by admin

AssociatedPress asked: A surprise drop in home sales and another slide in oil prices pushed investors to sell stocks. (Sept. 24)Christian

Posted in News | Tagged Home Sales, Investors, Oil Prices, Oil Stocks, Sell Stocks, Surprise | 8 Comments

We’re about to list our home for sale. Should we spend the money to finish a 1/2 bath?

Posted on May 3, 2010 by admin

Jenna asked: We started to put in a 1/2 bath off of the kitchen. Currently just 1 full bath in the entire house. Should we spend the $1500 to finish it? I had the idea of making it a breakfast … Continue reading →

Posted in Renting & Real Estate | Tagged Bath House, Breakfast Nook, Full House, Home For Sale, Kitchen Bath, Money | 9 Comments

New-home Sales Hit an All-time Low

Posted on May 2, 2010 by admin

AssociatedPress asked: Sales of new homes fell to their lowest point on record in February, underscoring the housing industry’s struggle to rebound from the worst slump in decades. (March 24)Henry

Posted in News | Tagged Decades, Housing Industry, New Home Sales, New Homes, Slump, Struggle | 18 Comments

What is a bank short sale in home buying?

Posted on May 1, 2010 by admin

Marli’s Mom asked: How does it benefit the buyer? Will it essentially cost less than the asking price?Janet

Posted in Renting & Real Estate | Tagged Asking Price, Home Buying, Short Sale | 3 Comments

Where can I find practical information abut marketing a small, at-home business?

Posted on May 1, 2010 by admin

Capricorn61 asked: I am starting up a new business in catalog sales of gifts, novelties, home decorations, garden decorations. I need practical ideas on how I can get my name out there and start selling. I eventually want to sell … Continue reading →

Posted in Search Engine Optimization | Tagged Business Sales, Catalog Sales, Garden Decorations, Garden Ideas, Home Business, Home Decorations, Information Marketing, Marketing Business, New Business, Novelties, Offline Sales, Starting Business | 9 Comments