REAL ESTATE

By Inman News Feed

More vacation-home owners renting them out

Income can help cover mortgage and taxes, or even turn a profit Tom Kelly Inman News® Not only are vacation-home sales on the uptick, but the percentage of purchasers who intend to rent out vacation homes to friends, family and travelers is climbing like never before. Perhaps it's the sluggish economy, coupled with the chance to buy a bargain getaway, but 70 percent of vacation-home buyers say they plan to rent out their home in the next year, according to a survey by the National Association of Realtors. Recreation home sales were up 7 percent in 2011 from the year before, yet the median sales price dropped 19 percent to its lowest point in four years. Of the 70 percent who said they intended to rent out their properties, 39 percent said they planned to use the rental income to help cover mortgage, taxes, insurance and other costs, while 14 percent stated they purchased the property to make a profit. These statistics probably do not surprise the 3.3 million vacation property owners in the U.S. who choose to rent out their homes, condos and apartments. According to Radius Global Market Research, the vocational rental...

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Posted May. 23, 2012

REAL ESTATE

What's Your Home Worth?

The Zestimate (pronounced ZEST-ti-met, rhymes with estimate) home valuation is Zillow's estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value. The Zestimate is pulled from data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. Variations in price also occur because of negotiating factors, closing costs, and timing of closing....

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Posted Aug. 18, 2009

REAL ESTATE

By Inman News Feed

Know when to replace your kitchen faucet

Leak leads to under-sink revelation Bill and Kevin Burnett Inman News® We get a fair amount of questions that don't require a detailed answer, but deserve a response. So it's time once again to empty the question bag: Q: I have a Moen kitchen faucet that is leaking. It is a rotating, single-handle, one-hole installation, with no plate. The leak seems to come from a rusted base under the sink and drips down the flexible tubing. Is it easy to fix? A: Yes, but the fix is to replace the faucet. The rust is the key. The faucet's innards are shot. It's possible that some parts need replacing, but for about $100-$200 (installed yourself) you can have a new one. We say live large and go new instead of trying to repair the old one. Q: Thanks for the tip on fixing a leaky faucet. My question is: I have a two-handle faucet that turns on and off backward. How do you fix this problem? A: If "backward" means the valve opens when turned to the right and closes when turned to the left, there's nothing you can do to reverse the operation. This...

Provided by Zillow

REAL ESTATE

By Inman News Feed

Climb out of that rut and engage with life

Book Review: 'The Charge: Activating the 10 Human Drives That Make You Feel Alive' Tara-Nicholle Nelson Inman News® Book Review Title: "The Charge: Activating the 10 Human Drives That Make You Feel Alive" Author: Brendon Burchard Publisher: Free Press, 2012: 272 pages; $20.80 We've all fallen into ruts. And after the recession, many have found their ennui and generalized dissatisfaction to be worse than normal. Maybe you worked and worked to get a job, then you get one, and still ... blech. Maybe you fought and fought to keep your home, and you got that elusive loan mod, only to find yourself feeling much less than victorious; or you didn't get it, and have been dealing with feelings of failure. Or perhaps you had personal dreams around relationships, children, whatever -- and whether or not you realized them, you just lack the excitement about life you thought you would have at this stage of the game. Enter Brendon Burchard, a writer and achievement coach, and his new book, "The Charge: Activating the 10 Drives That Make You Feel Alive." Burchard's premise is that the root cause of this widespread dissatisfaction is that our brains and human needs have...

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Posted May. 22, 2012