Chicago Tribune Real Estate News
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Updated: 9 hours 59 min ago
The door's always open
Pros and cons of buying the model home
When Karen and Aneil Mishra home-shopped in Okemos, Mich., in 2009, they restricted their search to new houses to minimize the effects of mold and dust on their family's allergies. But they didn't want to endure months of construction, which they had done for their last house in North Carolina.
When Karen and Aneil Mishra home-shopped in Okemos, Mich., in 2009, they restricted their search to new houses to minimize the effects of mold and dust on their family's allergies. But they didn't want to endure months of construction, which they had done for their last house in North Carolina.
Can landlord use prepaid rent to pay for tenants' damage?
Q: The rental market in my city is tight, and it's common for applicants to offer many months' prepaid rent as an incentive for landlords to rent to them. I accepted six months' rent from a couple who signed a year's lease, then left after a few months. The damage they left behind was more than the security deposit could cover. Can I use the balance of the prepaid rent to make up the difference?
Real Estate Matters: Inherited townhouse causes sibling divide
Q My sister and I inherited a town home when our father died last year. A Realtor has estimated the current value to be about $160,000, with no mortgage on the property. The will stated that we each get half of the property. The town home has been for sale on and off since April 2009. We've had three contracts on it, but all have fallen through because the buyers really did not have the money.
Home prices tick up 1.3% in May
It was the second straight monthly increase, according to the Standard & Poor's/Case-Shiller index of 20 U.S. cities, but experts warn it is not likely to last. Los Angeles, San Diego and San Francisco are among the gainers.
Home prices posted strong gains in May as a federal stimulus program boosted sales. But many experts predict the housing market to soften this year as the effects of government support wane.
Home prices posted strong gains in May as a federal stimulus program boosted sales. But many experts predict the housing market to soften this year as the effects of government support wane.
Handy A to Z: Thermostats
Programmed perfection a goal with thermostats
Thermostats used to be mechanical. When you turned the dial, parts moved inside, including a glass vial holding a blob of mercury. The almost Rube Goldberg on-off switch worked, but digital controls and circuit boards provide more options — sometimes too many.
Thermostats used to be mechanical. When you turned the dial, parts moved inside, including a glass vial holding a blob of mercury. The almost Rube Goldberg on-off switch worked, but digital controls and circuit boards provide more options — sometimes too many.
A legal look at community association issues
The legal workings of a community association are confounding, and professional help is expensive. Attendees at the recent annual conference of the Association of Condominium, Townhouse and Homeowners Associations had their questions answered during the popular "Ask An Attorney" session. Let's listen in:
House swap likely to run afoul of tax regulations
Q: I am fed up with paying taxes to our greedy and burdensome governments who rob the masses. If I can find somebody I trust and we both don't have liens, can I sell my property for a minuscule amount and the second party sell his to me for a minuscule amount to reduce property taxes. In a year or less, we sell back to each other. Is this legal?
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