Maryland Real Estate by Pamela DuBois: Buying vs renting

Maryland Real Estate by Pamela DuBois: Buying vs renting: Home prices have taken such a beating and demand for rental units has increased so much that it's now cheaper to buy a two-bedroom home than...

Buying vs renting

Home prices have taken such a beating and demand for rental units has increased so much that it's now cheaper to buy a two-bedroom home than to rent one in most major U.S. cities. According to real estate web site Trulia, buying was cheaper than renting in 74% of the country's 50 largest cities in July. In just 12% of the cities, including New York, Seattle and San Francisco, renting was cheaper. In the remaining 14% of cities, renting was less expensive but close to the cost of buying. In addition to a continuing decline in home prices, rock-bottom interest rates have added a lot of weight to the buy side of the scale. The overnight average rate for a 30-year fixed was just 4.19% on Monday, according to Bankrate.com. A 15-year fixed averaged just 3.43%. Add in the tax perks of home ownership and for those who can afford it (and who can actually qualify for a loan), it certainly is a buyer's market. "It's a personal decision, of course. But if you have a steady job and you are planning to stay for seven years or more and have enough cash to put 20% down and enough left over for seven or eight months of expenses, you're better off buying in most places," said Daisy Kong, a spokeswoman for Trulia.

Maryland Real Estate by Pamela DuBois: Real Estate Tips for Liens Against Title

Maryland Real Estate by Pamela DuBois: Real Estate Tips for Liens Against Title: Occasionally homeowners who are trying to sell their home are surprised to learn that their title is encumbered by a lien. There are several...

Maryland Real Estate by Pamela DuBois: Real Estate Tips for Liens Against Title

Maryland Real Estate by Pamela DuBois: Real Estate Tips for Liens Against Title: Occasionally homeowners who are trying to sell their home are surprised to learn that their title is encumbered by a lien. There are several...

Real Estate Tips for Liens Against Title

Occasionally homeowners who are trying to sell their home are surprised to learn that their title is encumbered by a lien. There are several types of liens; the most common are mechanic's or contractor's liens. The lien (or debt) must be paid off in order to be cleared. If the owner prefers to challenge the lien, he can release it by posting a bond, pending adjudication. In some types of liens, a title search may disclose claims against the property by an ex-spouse or long-ago heir of a former owner. A simple "quitclaim" deed may be used in these cases. By signing the deed, the person involved signs over whatever rights he or she might have, without laying any claim to the property. Most real estate transactions involve at least some minor unresolved issues on the part of either the buyer or the seller. This is where an experienced real estate agent can provide solutions to resolve the issues and conclude the sale.

Maryland Real Estate by Pamela DuBois: Buying a home new or buying old

Maryland Real Estate by Pamela DuBois: Buying a home new or buying old: Buying Land and New Construction >Buying New or Buying Old New homes typically have a higher sales price than comparable existing h...

Maryland Real Estate by Pamela DuBois: Buying a home new or buying old

Maryland Real Estate by Pamela DuBois: Buying a home new or buying old: Buying Land and New Construction >Buying New or Buying Old New homes typically have a higher sales price than comparable existing h...