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Real Estate Articles

Should you choose a reverse mortgage? Pluses and minuses

For seniors, deciding whether to enter into a reverse mortgage can be complicated. Here are some pros and cons to consider: The pros A reverse mortgage allows you to maintain the title to your home while receiving income from your equity. The loan doesn’t typically affect Medicare or Social Security benefits. Reverse mortgage income is viewed as loan proceeds, and therefore isn’t likely to be taxed. Be sure to consult an advisor to confirm the tax

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Financing a home for your retired parents

Lenders are making it easier for people who want to finance homes with rental units for their retirement-age parents. In the past, banks treated such arrangements as partial investment properties and required higher down payments and loan rates than those required for typical single-family homes. But that’s not the case anymore. According to the Pew Center, 20 percent of Americans, or 64 million people, live in multigenerational homes, with at least two adult generations in the

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Tips for charging rent to your adult child

In some ways, it might seem great to have your adult child move home and spend more time with you. Or maybe you never expected it to happen, and suddenly the child you thought was moving on is at your doorstep. No matter how you feel about it, here are some tips on charging your adult child rent: Base rent on a percentage of your child’s take-home income. A good range to consider is between 10

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U.S. Supreme Court says yes to immediate takings claim

In a big change affecting property owners, the U.S. Supreme Court has ruled that people whose land is taken for public use without payment may, as soon as the property is taken, file federal lawsuits for constitutional violations of property rights. The high court revisited the question of whether property owners have standing to bring §1983 claims under the Fifth Amendment in federal court when a taking occurs, or if they must exhaust all state court

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Tips for protecting yourself from real-estate wire transfer fraud

Real estate transaction cybercrime is on the rise. According to The Wall Street Journal, hackers have targeted email accounts belonging to the parties in transactions, such as real-estate professionals, lawyers, and title agents, devising custom scams specific to the deals. Profits from sales are then diverted from intended recipients to the hacker’s bank account. It can take months to recover funds, and sometimes they are never recovered. Earlier this year, a bipartisan group of 43 members

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Co-living startups shift rental models

  Old way: You move to a big city where housing is expensive and in high demand. You find an apartment above your price range and then post listings to Craigslist to find roommates who can help you cover the rent. New way: You rent from a co-living startup that offers community living. You don’t have to sign a lease that’s more than you can afford or manage roommate vetting on your own. In California, startup

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Tariffs, labor shortages drive up home costs

  Home building and remodeling costs could rise this year, driven by the dual impact of tariffs and labor shortages. A report from Porch, a company that connects consumers to home improvement professionals, suggests that tariffs on Canadian lumber, Chinese goods, and internationally sourced metals could drive up the price of new construction by 3.2 percent. The median sale price of $315,000 for new houses means that a 3.2 percent increase would add about $10,000 to

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Number of older renters is on the rise

  The number of renters over age 60 grew by 43 percent in the last decade, according to a report from RENTCafé, a national apartment listing service. Overall, nearly 37 percent of Americans rent, a near 50-year high, according to the Pew Research Center. Housing analysts say the trend is partially a result of the Great Recession, as some people who lost their homes never bought again. Many others are baby boomers who were never homeowners

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Protect your connected home from hackers

Your home may be smart, but is it secure? A variety of internet-connected devices, from doorbells to lights and thermostats, may make your life more convenient, but they also put your home at risk of being hacked. Every device that’s connected to the internet can be a doorway for bad actors. In one instance, when a family’s thermostat and camera systems were hacked, outsiders turned up the heat in a child’s bedroom and cursed at the

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Prove residency to pass state tax audit

If you own homes in multiple states, establishing residency in the lower tax state can help your tax bill. Turning your second home into your “main home” and establishing legal residency takes more than just careful record keeping, however. Many states have been cracking down on snowbirds who want to claim residency in “no income tax” states like Florida or Texas while still maintaining their original home. But retirees aren’t the only ones under scrutiny. States

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