Real Estate
I authored two continuing education courses accepted for credit by the California
Department of Real Estate and taught the capstone course for the Certificate
program in Investment Real Estate for the University of California at Irvine.
I brokered homes, industrial and commercial property as well as completed
appraisals, feasibility studies and other consulting work. And though my
focus during the last 20 years has been directly in financial planning, real
estate still is a major interest of mine. Further, it occupies a major element
of many an individual's total assets at least through their own home.
While laws have restricted the real estate losses against ordinary income,
shortened the time frame for deferred exchanges, adjusted installment sales
and, most notably, lengthened depreciation schedules, real estate will always
be one of the cornerstones of America's wealth. Admittedly, it ended up in
the doldrums in the late 80's and mid 90's, but the cycle of appreciation
came back once the stock market hit a snag. Unfortunately, the cycle has
reversed once again- hence the necessity of paying attention to economics.
Please stay current on reverse mortgages. These have major financial
repercussions on the elderly and can be very hard for them to understand.
Further, the plans are forever changing.
You'll need an HP12C or similar to figure out
some PV's.
Click to Buy it now!
Sample
Pages
No
Nonsense Finance eBook
The list below includes all articles and specific links in alphabetical order
with accompanying description. The listings in the column to the right are
separate sections for articles and links
"People are living longer than ever before, a phenomenon undoubtedly made
necessary by the 30-year mortgage."
Doug Larson
1031 EXCHANGES: Exchanges let you defer
tax on a REAL ESTATE sale (hardly any other assets qualify for tax deferral
upon a sale) until a much later period of time. I did this article for the
Arizona Board of Realtors many years ago and it contains a "fool proof" method
for determining taxable amount, boot, etc.
1031 EXCHANGE LINK: 1031 exchanges
allow property owners to transfer all gain to another property if purchased
and closed within a set period of time. This company provides info and acts
as an intermediary. As with almost all the links on this site, I do not have
personal experience with them so I cannot recommend the competency or quality
of their services. But it clearly appears to be worth the visit.
1031 REAL ESTATE EXCHANGE
LINK: This is a for profit site but it does have some good info.
APARTMENTS LINK: A site
that lists over 4,000,000 apartments nationally. Should be valuable if you
are moving out of area and need an idea of availability and price.
APPRAISAL LINKS: Appraisal
Institute
Appraisal Subcommittee of the Federal Financial
Institutions Examination Council provides comprehensive
information about the Federal oversight system regarding licensed or certified
real estate appraisers and has compiled a list of currently available State
appraiser regulatory agency Web sites with e-mail addresses of key personnel
along with news on the Appraisal Foundation, the ten formal policy statements
regarding State Certification and Licensing of Real Estate Appraisers and
more.
National Association of Real Estate
Appraisers
BANK LOAN LINK: A good
site on bank rates, types and sizes of mortgages, where available, and much
more.
BUILDING LINK: This site by co
hosts of a TV show provides some pretty good tips through hundreds of projects
so you can fix things and your wife and kids will be proud, your neighbors
envious and all the rest of that stuff.
BUYER'S BROKER: So, does you broker work
for you or the seller? Surprise!!! These brokers are not available in all
areas but it may be worthwhile to seek them out. Independent studies have
shown they have saved 5% of the purchase price.
BUYER'S BROKER LINK 1: "REBAC (Real Estate
BUYER’S AGENT Council) is North America’s largest association of
real estate professionals (23,000) focusing specifically on representing
the real estate consumer.
BUYER'S BROKER LINK 2: This is the site
for the National Association of Exclusive Buyers Agents. Simply input
your city and state and they will identify if an agent serves your area.
You can contact them instead of having them contact you (as happens above).
Same caveats apply however.
BUYING A HOME LINK: (HUD)
CALIFORNIA EARTHQUAKE INSURANCE
QUOTE LINK: The rates are region-specific and reflect coverage for homeowners
(including mobile home owners), apartment or house tenants, and condo owners.
CLOSING COSTS: Most buyers and sellers are confused
by the various fees. Here is commentary by Dick LePre on what each item
represents.
COMMENTARY: Miscellaneous real estate issues.
COMMERCIAL MORTGAGE
GLOSSARY LINK: Very VERY extensive.
COMMERCIAL PROPERTY LINK: Extensive
database information on Commercial and Investment properties. Includes national
search engine.
COMMUNITY COMPARISON
LINK: If you are moving to another community and would like similar
demographics, this unique lets you compare lifestyles to see if they match
(or to avoid the cretins you have been living next to.) Quite interesting
and useful.
COMMUNITY DEVELOPMENT LINK: Though initially
designed for corporate and industrial site selection, the American Community
Network offers detailed profiles of every city, county, and metropolitan
area in America . You can find workforce data, annual unemployment rates,
check average commute times, search for quality of life factors, temperature
ranges, and much, much more.
COMMUNITY PROPERTY VS JOINT
TENANCY:Specific reference to community property in California and similar
community property states. If you are married and own a home, bet at least
50% of you own a home as joint tenants. WRONG!
COMPARATIVE INVESTMENT ANALYSIS: One of the best and
simplest ways I have found to analyze a real estate property and I think
it should be done on every purchase. Properly done, you can take the results
and compare it against almost all other real estate or other investments
and see which one is better. You'll need a calculator. Also contains some
current commentary on real estate.
CONTRACTORS: Things to look for when hiring
a contractor. First thing is proper licensing.
COUNSELORS OF REAL ESTATE LINK: Home page
for those that offer advice on many areas of real estate. They must have
education and experience.
CREDIT
SCORING LINK: Credit scoring has been widely used outside of credit card
applications. Fannie Mae and Freddie Mac have also decreed that all mortgages
with federal connections in the United States must use credit scoring
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
(HUD) LINK: The government provides information about mortgages,
lenders, homes for sale and much more.
DO IT YOURSELF LINK: Tons
of information to screw up your weekend with stuff that needs fixing.
Lots of links to commercial sites with products- but overall offers some
good insight.
DOWN PAYMENT: With a little work, you can
determine how much to put down, whether to refinance, etc.
EARTHQUAKE INSURANCE: Commentary
on what you should look for and how it works.
EARTHQUAKE INSURANCE LINK:
The EQE International's HomeRisk website is where California homeowners
can obtain an online earthquake risk assessment. The assessments provide
an EQE Seismic Risk Rating- low, average, high risk- for an individual structure
and represents a measure of "earthquake fitness" for that building type at
the shaking intensity expected on the soil mapped at that site, and at the
specific distance of the site from the known active faults in the vicinity.
ECONOMIC MAP LINK: A map of the
U.S. colored to show which areas should surpass/lag the overall job and economic
growth. Very interesting and illuminating. Go to front page- click Wylies
Map.
ENERGY SAVINGS LINK: This site allows
you to do an online checkup on your home or business to see what savings
might be made. Unique
ENVIRONMENTAL MAPS LINK: These maps
provided teh location, type and performance of HUD-funded activities in every
neighborhood across the country; and select EPA information on brownfields,
hazardous wastes, air pollution and waste water discharges.
ENVIRONMENTAL PROTECTION AGENCY LINK: You
might find the site valuable when checking out problem areas where you live
or might move to. Lots of other valuable info.
ESCROW
GLOSSARY LINK:
ESCROW QUESTIONS LINK:
Good info by an author of a book on escrow
EVICTION LAW LINK:
EXISTING HOME SALES LINK:
pdf from Ed Yardeni
FEDERAL NATIONAL MORTGAGE ASSOCIATION
(FANNIE MAE) LINK: Similar to the HUD page, it provides information,
commentary and links to all sorts of real estate activities.
FHA MORTGAGE LIMITS LINK: Just put in your county and state
FICO SCORES LINK: Scores from 300
to 900 show how much of a mortgage you will get and how much you will pay.
This site shows you your own FICO score and what factors influence it.
FINANCE, INSURANCE, and
REAL ESTATE LINKS:
The finance department of Louisiana State University has provided
an exceptional list of links to all sorts of investment areas. Good Stuff
FLOOD INSURANCE: Many people mistakenly
think that a homeowner's policy covers for flood damage. WRONG! Lots of other
comments including approximate policy premiums.
FLOOD INSURANCE LINK: Good
overview on many aspects of flood insurance.
FOR SALE BY OWNER LINK: A new site
that list homes for without agents. Between this and the NAR site below,
you might be able to get an idea of what is available in a particular area
of the country. I think this site will grow tremendously.
Gay Real Estate Directory LINK I am not sure this is really necessary because competency comes first, but ...................
GINNIE MAE LINK:
Ginnie Mae facilitates an efficient secondary market activities for
federally insured or guaranteed mortgages by selling them on the open market.
But as an investor, you still need to know that these are very difficult
investments to understand and utilize. The government does guarantee against
default- but it does not guarantee your principal investment from fluctuation
due to interest rate changes. See also GNMA's below.
GLOSSARY OF REAL ESTATE
TERMS LINK: Large in scope but somewhat limited in detail, it still
should give you a good start to the understanding of basic real estate terms.
GNMA'S: Government National Mortgage
Association Passthroughs and other agency issues do have some form of backing
by the U.S. government if the mortgages default. That's how and why they
get sold. But the underlying risks and lack of understanding of the unlimited
calls make these far from conservative investments.
HOME APPRECIATION: Just a simple table
showing the appreciation over the past 20 years in different time increments.
HOMEBUILDER LINK: Looking to buy
a new home??? This is the largest new home site on the Web with over 100,000
builder listings. It has a customized search for each city.
HOMEBUYER'S KIT LINK: A Department
of Housing and Urban Development has a site for buyer's that includes info
on your legal rights, if you wonder about your legal rights, the size of
mortgage you can afford, how to choose an agent, and more.
HOME IMPROVEMENT LINK 1:
HOME IMPROVEMENT LINK 2:
HOME IMPROVEMENT
LINK 3: (Better Homes and Garden)
Due to the substantial increase in home improvement construction during the
last 10 years and the fact that many homeowners don't check out their contractors
properly, even don't get written contracts, etc., I thought these sites would
be useful. They also provide design tips and more.
HOME LINK : This site has an extensive
amount of information on all aspects of home buying, selling, home searches,
agent contacts, relocation information and much more. I will repeat again
however, do NOT use anyone mentioned simply because they are on the WEB.
Check out all licensees with state licensing departments, Better business
Bureau, etc. As stated elsewhere, you need to do a lot of homework before
using anyone for investments- the same criteria exists here- maybe more so
since the purchase of a home is apt to be the largest you will ever make.
HOME LINK 2: All sorts
of info on making your home livable.
HOME INSPECTOR DIRECTORY
LINK: The American Home Inspector Directory includes members of
the American Society of Home Inspectors (ASHI), National Association of Home
Inspectors (NAHI), Independent Home Inspectors of North America (IHINA),
National Association of Certified Home Inspectors(NACHI), and other valuable
inspector associations.
HOME
MODIFICATION FOR THE ELDERLY LINK: "Home Modification and Repair includes
adaptations to homes that can make it easier and safer to carry out activities
such as bathing, cooking, and climbing stairs and alterations to the physical
structure of the home to improve its overall safety and condition."
HOMEOWNER'S CLAIMS LINK:
Good consumer's info on Where To Begin, What To Look Out For, When
To Settle and How To Protect Your Rights
HOMEOWNERS INSURANCE: Basic commentary
on what to look for including the different HO policies.
HOME PRICE CHECK LINK: Find the
price of a singular home, homes on a particular street or homes within a
certain price range in a particular city. Invaluable info when buying or
selling a home.
HOME
PRICE LINK: Excellent statistical info on houses going back 20+ years.
HOME PRICES AND RENTS
LINK: pdf from Ed Yardeni. Good economic data
HOME WARRANTY LINK:
When selling a home, one of the "best" marketing tools is to offer
a home warranty. It may protect the buyer from certain repairs needed later
on. Couple this with a good home inspection, and it may allay many purchaser
fears.The article reviews the pros and cons and offers some
valuable insight now that this market has matured.
HOUSING STATISTICS LINK
1: "Housing and Household Statistics from the Census Bureau". Once again
the government has come up with a fine site with information on disability,
health insurance, income, labor force, vacancy factors, residential segregation,
housing affordability and much, much more
HOUSING STATISTICS LINK 2:"Maintained
by the U.S. Department of Housing and Urban Development's Office of Policy
Development and Research, this site is the primary source for federal government
reports on housing policy and programs, building technology, economic
development, urban planning, and other housing-related topics. If you're
looking for hard data, click on "data sets" from the home page to access
various databases, including the American Housing Survey (AHS). The AHS can
answer many questions about U.S. consumers and their homes."
HUD SENIOR LINK: The Department
of Housing and Urban Development has set up a site specifically referencing
issues for seniors.
IMPROVEMENTS: (Marshall and Swift)
Here are some improvement costs for a typical home and the life expectancies.
Very useful
INTEREST RATE MOVEMENT: See Stochastic analysis below
INTERNATIONAL REAL ESTATE DIGEST LINK: The
page links to sites all over the world, has homebuying tips, recent legislation
and more.
LANDLORD TENANT STATUTES
LINK: Landlord Tenant Statutes by State
LAND TRUST LINK: The Land Trust Alliance
promotes voluntary land conservation and strengthens the land trust movement
by providing the leadership, information, skills and resources land trusts
need to conserve land for the benefit of communities and natural systems.
LOAN AMORTIZATION
LINK: The site allows you to take a loan, adjust it by changing payments
to interest only, adda payment, pay off loan in "x" months, make one
added payment, etc. and see the repercussions.
LOAN COMPARISON LINK:
This site allows you to analyze up to five different loans to see which
one would cost you less over time. Very worthwhile
MOBILE HOME PARK LINK: .
The site contains info on all areas of mobile home parks, appraisals, sales,
listing, etc.
MOLD LINK: One
of the worst problems addressing real estate nationally. Worse than even
asbestos
MORTGAGES: Lots of commentary on different types
of mortgages, ratios, etc.
MORTGAGE LINK:
All sorts of articles covering types of loans, processing, refinancing
etc.
MORTGAGE BANKING LIBRARY LINK:
This site by a law firm that specializes in mortgage banking. It provides
a compendium of sites related to federal and state law and reference material
related to the mortgage industry.
MORTGAGE CALCULATOR LINK: A page
offered by Fannie Mae that lets you figure out how much home you could afford
under different scenarios, what you could refinance for, various lenders,
etc. See also Credit
Report Link above
MORTGAGE
DICTIONARY LINK; Abbreviated comments generally for the novice.
MORTGAGE
GLOSSARY LINK:
MORTGAGE INFORMATION LINK 1: This
is an information site that has over 150 articles on credit reports, refinancing,
FHA and VA loans, title insurance and a whole lot more. Should help you with
an overall review of real estate. Then look to info and links on this page
for more details.
MORTGAGE INFORMATION
LINK 2: Huge amount of info on literally every element of lending. Highly
recommended
MORTGAGE STATISTICS LINK:
Mortgage Statistics analyzes data, trends and market research that
supports mortgage finance and investment professionals
MOVING COSTS
LINK: You can get an estimate of how much a house move might cost.
MOVING LINK 1: This excellent site
has information on schools, maps of an area, average price of homes and a
lot more.
MOVING LINK 2: the American Moving and
Storage Association has a site that's packed with resources including a moving
planner, tips on dealing with problems and an interactive locator.
NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT
TRUSTS (REIT's) LINK: You really need to know what they are, how they
work, etc. since the use of REIT's and mutual funds using REIT's is a major
consideration in investments and asset allocation.
NATIONAL ASSOCIATION OF REALTORS LINK:
Home page for the major organization of Realtors. Has tips on ownership
and over 840,000 homes listed across the U.S. which you can get information
about.
NEIGHBORHOOD CENSUS LINK: This
first goes to the FFIEC (Federal Financial Institutions Examinations Council-
I have no idea what it is) Geocoding Sampler where you put in your
address to get a certain coding for the area. By pressing another button,
you then get census demographics about your neighborhood- or the one you
are considering- income, populations, number of owner occupied and rental
units, etc. Good stuff if you are considering a move.
PARTNERSHIP VALUATION
LINK: SPAR - Specialists in privately-held, non-traded assets,
including closely-held stock, limited partnerships, Etc.
PETS AND LANDLORD LINK: If all
rental housing units permitted pets, approximately 6.5 million animals could
be placed in homes. But this is a contentious issue and here is some commentary
that might help the situation
PRIVATE MORTGAGE INSURANCE: You do not
have to be stuck with PMI forever and this article from Dick LePre will give
you the insight as to what to do to get it canceled.
PRIVATE MORTGAGE INSURANCE LINK: The
site addresses what it is, how much it costs, when it has to be used, how
to get rid of it and more. and the tHE SITE ADDRESSES WHAT IT DOES,
HOW MUCH IT COSTS
PROPERTY INSPECTORS LINK
1: You should at least use an inspector that has a contractors license.
This site provides extensive info on who you should use and the associated
credentials, a library of terms and other articles of interest. Look at this
site before you buy a home
PROPERTY INSPECTORS LINK 2: "The American
Society of Home Inspectors® is the national professional organization
of home inspectors who have met professional and educational requirements
through an exam and membership review process." They are independent since
they are "not allowed to actively engage in real estate sales or to have
a financial interest in the sale or maintenance of any property that they
inspect."
PROPERTY MANAGEMENT LINK: This goes
to the site for the National Association of Residential Property Managers
which specializes in managing houses, duplexes, etc.
PROPERTY
MANAGEMENT GLOSSARY LINK:
PROPERTY SALES INFORMATION LINK: This
free Home Sales site lets you view the sales prices of homes in specific
areas. It doesn't include detailed data that is offered with fee sites, but
just put in your zip code and you are apt to find extensive listings of sales
prices in your immediate that you can use for comparison purposes.
PROPERTY VALUATIONS LINK: Some
reports free- others small fee. May help you decide how much insurance to
buy. Probably worth the $15 to $20 since most homes are underinsured. As
many as 67% of Americans are underinsured by 25% or more!
PUBLIC HOUSING LINK: The
Public Housing Authorities Directors Association (PHADA) is a professional
trade association representing local housing authorities from across America.
Lots of info if you are involved as a professional or consumer
REAL ESTATE GLOSSARY
LINK: Take a guess
REAL ESTATE GLOSSARY LINK:
Very Extensive
REAL ESTATE INSPECTOR LINK: Enter
your zip code and find an inspector through the American Society of Home
Inspectors
REAL ESTATE NEWS LINK: Tons of current
commercial, residential and consumer news on all the issues of real estate.
If you are a professional the field or just need info on mortgages,
REIT's, office buildings- the entire gamut- take a look.
REAL ESTATE PRODUCTS LINK: Thousands
of products, tools and info on building plans, contractors, remodelers and
more.
REAL ESTATE SOFTWARE
LINK: Many programs are free
REAL ESTATE
TENANCY IN COMMON LINK: Characterization of tenancy in common as
a partnership for income tax purposes.
REAL ESTATE TRENDS
LINK: Coverage includes the residential and commercial markets,
regional trends, and an overview of real estate trends.
REIT
RETURNS LINK: An extensive research article by TIAA (pdf)
RENTERS
INSURANCE LINK: Basic info from the Ohio Insurance Department
REPAIR LINK: Want to know how
things work and (possibly) how to fix them. This site has commentary on just
about anything around the house AND the house itself. So the next time your
husband tries to fix something, check this out and give him tips while he
is doing it. It will provide lots of laughs and improve marital harmony.
REIT GLOSSARY: Real Estate Investment Trusts
have a unique terminology.
RELOCATION LINK: Moving?
Well, this site has 30,00 links to all the info you could use. "The largest
independent relocation search directory online."
REMODELING LINK brought to you by
the National Association of Home Builders Remodelers Council
RENOVATION LINK: The National
Renovation Lenders Association is a network of banks, thrifts, mortgage bankers,
credit unions, mortgage brokers, and allied professionals who offer loan
products to finance the purchase and renovation, renovation and finance,
or renovation only of one- to four-family homes.
RENTERS INSURANCE LINK:
Good overview article on what to look for, coverage, discounts, glossary,
etc.
REPAIR COST LINK: This
site provides a range of costs for different types of real estate repairs-
foundation, roof, attic, plumbing, exterior, etc. I realize that prices vary
tremendously across the U.S., but I think it is a good place to start when
you are wondering just how big the bill will be.
REVERSE
EQUITY GLOSSARY LINK: (AARP)
REVERSE MORTGAGE LINK:1 "The National
Center for Home Equity Conversion is an independent, nonprofit organization
established to educate consumers about reverse mortgages. It offers guidance,
disclosures, calculators, standards and more. A calculator allows you to
put in your age, value of your home, location, etc. and you can get an estimate
of much of a loan you may be entitled to. Reverse mortgages are fraught with
inflated and fraudulent claims and fees and you MUST review this site in
order to get the proper insight.
REVERSE MORTGAGE LINK 2: Though
this is a commercial site, it contained material not offered in the above
and is certainly worthwhile reviewing before attempting to file for a reverse
mortgage. These are not cheap, easy nor as beneficial as many publicize.
Basically, they represent people who may have never planned properly for
retirement but at least own a home with significant equity.
REVERSE MORTGAGE LINK 3: Extensive
info from AARP.
REVERSE MORTGAGE CALCULATOR
LINK: If you are 62 or older, just enter some basic info (home value,
zip code, etc.) and you can get a rough estimate how much money you could
get.
REVERSE MORTGAGE CALCULATOR LINK 2
REVERSE
MORTGAGE CALCULATOR LINK 3 It may seem that all three calculators should
provide the same "answers". Never assume this- try all as part of your analysis.
REVERSE MORTGAGES: If you are elderly,
own a home and most of the mortgage is paid off, you may be able to take
out the equity WHILE YOU ARE LIVING IN THE HOME. But you better do a lot
of homework beforehand since some companies are scam artists charging outlandish
fees.
ROOF LINK: Need help with a leaking
roof, choosing a roof contractor or for other questions, take a look.
SECURITY DEPOSIT SUMMARY
LINK:
SELLING A HOME: A few tips on what to do to
make your house more presentable. Remember, first impressions DO count- even
if they appear to be simplistic- and can mean thousands of extra dollars.
Also shows what consumers/homebuyers are looking for.
STATE
PROPERTY STATUTE LINK:
STOCHASTIC LONG BOND LINK: See below
STOCHASTIC ANALYSIS: An
"understanding" of the stomaster by author Jim Grauer. This is difficult
reading of highly technical material regarding the movement of interest
rates. You need to read this before attempting to view his site above
(though the commentary here is offered in more extensive pdf format at this
site). Very interesting and thought provoking
TENANT LINK: Online resource for residential
tenants rights. See also Landlord and Tenant
TERMITE
LINK: Have bugs in your home? This extensive article on termites from
the University of Kentucky College of Agriculture should provide all you
need to know about the pesky little buggers.
TIMESHARES LINK: Classified
ads across the world for people selling their units. I have used these myself
many years ago. They are NOT investments but vacation units that you can
use in different areas of the world. Just be sure to get on the right trading
system. Also watch your maintenance costs- they can eat you up and cost more
than the vacation would have outright. These can work, but you have to be
careful.
TITLE 1 LINK: This HUD program
"suggests" you work only with a HUD-approved Title 1 lender. This allows
you to select the contractor and helps to prevent inflated estimates that
only increase costs.
TITLE INSURANCE ARTICLE: Literally everyone
needs this when buying property and this should give you some insight.
TITLE INSURANCE LINK1: Good
article from an Eastern Better Business Bureau on the needs, costs, coverage,
etc. of title insurance.
TITLE INSURANCE
LINK2: This site by First American shows over 77 ways one could lose
a property. Clearly makes the issue for the use of title insurance
URBAN LAND INSTITUTE LINK: This is
the premier organization on the use of land in order to enhance the total
environment. Extensive articles and information
WATER AND CLIMATE LINK:
At the Climate Center visitors can get a better idea of how they'll
fare in winter, whether spring runoff will be a killer or if there are dry
days ahead. Good to know if you are thinking about moving to a new area-
or from a bad one.
WATER DAMAGE LINK: General
comments on coverage by a policy
WOODWORKING LINK:
The
largest, most comprehensive directory of woodworking spots both on and off
the web
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