Anything that could negatively impact the value or marketability of the property needs to be divulged before closing. While there are usually statutory disclosure requirements of single family house sellers, these same disclosures are generally not required of homeowner association home sellers. This is a huge problem and herersquo;s why:Homeown...
Full Story >A. You have lived in your community for a long time, and are pleased with the way it is working. Do you know why? Most likely it is because there is a conscientious, hard-working board of directors, who are concerned about the welfare -- financial and otherwise -- of your association.A community association does not function -- good, bad or othe...
Full Story >While some trends carryover, there is some great info here for those who are looking to make some updates to enjoy now, while being able to reap the potential future financial benefits.Matte appliancesThese are a ldquo;hot trend of the moment,rdquo; said McGillivray. And while he says that he likes how they ldquo;lend a luxurious look to the kit...
Full Story >FICO scores are calculated using an algorithm originally developed by The FICO Company. This algorithm considers five different characteristics of a credit file. Of course, payment history carries the most weight, contributing 35 to the total, three-digit score. The second most important >How long someone has used credit is also a factor, making...
Full Story >As the population ages and the life expectancy of Canadians increases, therersquo;s a lot of discussion about where older people are going to live and how to make their communities more age-friendly.The baby boom generation is moving into their senior years, but most of them are not yet interested in downsizing to condominiums or moving from the...
Full Story >Find the coverage you needIt may seem obvious, but the most important part of a mobile plan is coverage. It doesnrsquo;t matter how much data or how many minutes you have if you canrsquo;t use them, and this is true not only on your home turf, but wherever youre likely to go. If you typically stay local, that makes the search easier. But if you ...
Full Story >Answer: Common elements available to one or several members instead of all are referred to as "limited common elements". This means they are common but limited to exclusive use of one member as in the case of a unit deck or designated members as in the case of a private street.These limited common elements are typically identified on the legal p...
Full Story >ldquo;Among buyers rejected for a mortgage from a lender, 40 percent had college debt, the NAR found.rdquo; Per the same study, 80 percent of millennials donrsquo;t own a home, and 83 of those non-homeowners said student loan debt was a barrier to buying.The NAR found that ldquo;Two in five buyers, like Jodi Meyers, cut out luxury or nonessentia...
Full Story >Part of the issue that has led the bill to ldquo;languish in the Senate since late last yearrdquo; is, not surprising: Republicans and Democrats are on opposite sides. ldquo;The GOP-led House voted in favor of the bill 237-189 despite significant opposition from coastal Democrats, who believe premiums on high-risk properties could skyrocket unde...
Full Story >This is the 37th year that NAR has conducted an annual survey of those who have purchased and sold homes. The most recent version 2018 Profile of Home Buyers and Sellers became available in November of this year. The information is based on answers to a 129-question survey mailed to a random sample of 155,250 consumers who purchased a home betwe...
Full Story >FICO scores are calculated using an algorithm originally developed by The FICO Company. This algorithm considers five different characteristics of a credit file. Of course, payment history carries the most weight, contributing 35 to the total, three-digit score. The second most important >How long someone has used credit is also a factor, making...
Full Story >Garage SpaceFirst, you need a garage with adequate space. A small garage might provide enough space to park your car, but if you want room to work, you may prefer something bigger. Chicago architect Allan J. Grant recommends that a single-car garage should be a minimum of 10 feet wide, and a two-car garage should be at least 20 feet wide, with 2...
Full Story >There are so many questions: Should the furniture be placed on or off the rug? Does the rug go underneath or next to the bed? How big should a dining room rug really be? It can seem overwhelming, but here are seven simple tips to help you choose wisely. After all, a good rug is an investment, and you dont want to make any costly mistakes.Rule 1:...
Full Story >It is this tenacity that warrants our attentionmdash;and deserves our praisemdash;because each agent is an icon unto him- or herself. Each agent is responsible for how he represents himself to the public, regardless of his association with a firm of solid repute or a strong foundation.Pardon the construction metaphors, as they constitute a descr...
Full Story >1. Component cost changes that happen frequently can dramatically change the reserve study projections.2. Rate of Inflation. Changes every year and directly affects future dollar needs.3. Return on Invested Reserves. Changes every year and directly affects future owner contributions.4. Balance of money in reserves. Changes every year and impacts...
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