Steve Sauer’s “pico-dwelling” is a 182 sq ft apartment he has managed to cram a soaking pool, video lounge, and cafe into without feeling cramped in the slightest. Most of the furniture comes from IKEA, natch. [More]
real estate
The Era Of "Investing" In Your House Is Over
By 8.23.10
The NYT says using a house to fund a comfortable retirement, pay for the education of your children, and send you on a cruise every winter was a purely 20th century phenomenon. And, like that century, the party is now over. [More]
Couple Says Real Estate Agent Used Their Home For Sex
By 8.23.10
Earlier this month, a couple in Minnesota filed a lawsuit against a local Coldwell Banker franchise and a real estate agent the company employed, alleging that the agent used the home for sexcapades while they were out of town, ruining their furniture, bedding and carpet. Neighbors say he showed up one day with an unidentified man and said they were going to be preparing the home for an open house, but no open house was held. Or at least not one the neighbors could see; maybe he uses that phrase in a different way. [More]
Couple Buys Dream Home For $300k, Get $900k Bill For Dam Maintenance
By 8.18.10
That’s “dam maintenance” not “damn maintenance. A Kansas couple scored what they thought was their dream home for $300,000: 20 acres with a beautiful view of the lush foilage-surrounded lake, bound in by a dam. A dam that has tree roots digging into it and could cost $900,000 to repair. And, under an agreement with the city from the 70’s that never turned up in the title search, is their responsibility to repair. And, title insurance will only cover the first $330,000. [More]
Chase Foreclosing On 90-Year-Old Even Though Son Is Willing To Pay
By 8.17.10
Chase is proceeding full steam ahead with foreclosing on a 90-year-old woman’s condo even though her son has offered to pay it off. Rather than get the full amount of the mortgage paid in full, they prefer to incur the expenses of a foreclosure and sell it at a loss. [More]
Top 10 States With Highest Closing Costs
By 8.16.10
In terms of closing costs, these little transactional costs needed to process the signing of your new home, how does your state stack up? Bankrate did a survey to find out. [More]
Rare Superman Comic Saves Home From Foreclosure
By 8.6.10
See through walls, bounce bullets off his chest, save homes from foreclosure, is there anything the man of steel can’t do? [More]
Mortgage Broker Told Me To Open Up A Bunch Of Credit Cards, Should I?
By 8.4.10
One of our readers is looking to buy a house and his mortgage broker suggested that he open up about four credit cards to establish some credit history. Should he? [More]
Oops, You Didn't Buy A House, You Bought Its Worthless 2nd Mortgage, And Now It's In Foreclosure
By 8.2.10
A couple thought they were snagging a $97,606 foreclosure fixer upper at a courthouse sale, only to find out months later they had actually bought its worthless second mortgage. The original was in arrears, and now the house would be sold at another courthouse auction. [More]
Move To These Towns To Earn Big Money, Live The Good Life
By 7.18.10
Beyond the obvious big cities where the rich and famous drive around in flashy cars and flaunt designer dresses and amazing homes, there are other towns across America where top-earning residents are living the good life. From north to south, sea to shining see, let’s take a look at a few of these little gems and start planning where we’ll move. [More]
Marilyn Monroe's Last Home Up For Sale
By 7.17.10
Got an extra $3.6 million laying around? For that chunk of cash you could purchase a piece of one of Holllywood’s most legendary tragedies: The Brentwood, Calif. home Marilyn Monroe died in is up for sale. [More]
1.6 Million Homes Hit With Foreclosure Notices In First Half Of 2010
By 7.15.10
If you received a foreclosure notice this year, you’re not alone. According to tracking firm RealtyTrac, 1.6 million properties received a foreclosure filing — defined as default notices, auction sale notices and bank repossessions — during the first half of 2010. The good news: that number is down 5% from the previous six months. The bad? It’s up 8% from the first half of last year. And RealtyTrac doesn’t see any relief coming, as a “massive number of distressed properties and underwater loans continues to sit just below the surface.” [More]
"I Bought It From Yahweh" Is Not A Good Defense For Squatting In Foreclosed House
By 7.15.10
Here’s a tip to anyone looking to squat in a foreclosed home — People probably won’t believe you if you tell them you purchased the property from Yahweh (aka God, aka Big Man in the Sky). It’s a lesson a Montana man learned this week after being convicted of not only illegally living in a home that wasn’t his, but also trying to use it as collateral for a loan. [More]
Rich People: More Likely To Default On Mortgages Than You Are
By 7.12.10
Are you a fancy person? Then you have a 1 in 7 chance of defaulting on your mortgage, says a new study of data compiled for the New York Times. Those of you with mortgages of less than a million dollars only have a 1 in 12 chance of defaulting, the paper says. [More]
Letting Mortgage Go Delinquent To Qualify For Short Sale Damages Credit
By 7.9.10
In order to qualify for a “short sale,” in which the lender agrees for the house to be sold for less than the remaining amount owed and takes a loss, the lender sometimes requires the homeowner to be several months delinquent on their mortgage payments. But while getting out of a house you can’t afford can be a good idea, bear in mind that the delinquency will stain your credit report. [More]
30-Year Mortgage Rates Drop To Record Low 4.57%
By 7.8.10
Rates on 30-year mortgages fell to 4.57% this week amid falling new home sales and increasing joblessness. It’s the third straight week that mortgage rates have dropped, and they’re the lowest since Freddie Mac started keeping track in the 70’s. [More]
Bully Landlord Tries To Steal Security Deposit
By 7.2.10
Sara thought she was being a good tenant. She moved cities and rather than pay the stiff penalties for breaking the lease, she continued to pay rent on the old place. She even turned off the electricity before she left. Ever since she told the old landlord she won’t be renewing the lease, he’s been going all aggro on her on the phone, demanding payments for electricity she didn’t use, insinuating she’s a criminal and is still living there, and generally being a jerk. Sara wants to extricate herself from his clutches but is afraid for her $700 security deposit. What can she do? [More]
Homebuyer Tax Credit Poised For 3-Month Extension
By 6.30.10
First-time homebuyers looking to snag the up to $8,000 income tax credit that expires today could get a reprieve. If you already signed the purchase contract by April 30th but haven’t closed yet, you will have 3-months to seal the deal, if a bill passed by Congress yesterday makes it through the Senate, which it seems it will. [More]
