ArcaMax

Dear Monty: My daughter's future in-laws are long-term homeowners in one of the top California markets. They have sizable equity in their home but still have a mortgage. They have offered to their son to take over the mortgage payments. Neither they nor my daughter are sophisticated about such things (though I am a long-time real estate broker...Read more

Dear Monty: For the past few years, I have seen price history on real estate sites such as Zillow. I recently noticed that the price history is no longer available, thus hiding it from potential purchasers. Are they purposefully trying to hide this info so market trends aren't readily seen, and are they also hiding the profit margins (i.e., ...Read more

Dear Monty: I am a middle-aged male who was recently laid off from a position. I have 20 years of experience in financial services with a large bank. I am looking for other opportunities, and real estate sales are on my list. I know there are different ways agents are paid, but I have no specifics. How are real estate agents paid?

Monty's ...Read more

Dear Monty: I bought a home 21 years ago on a corner lot adjacent to a city swimming pool. The entrance to the pool has a driveway that runs along the side of my property. About two years after I moved in, the local parks department planted three trees along the entrance driveway on the side of my property. Now, those trees' roots are near my ...Read more

Dear Monty: We are first-time homebuyers. We are looking at a home that we like that a flipper is selling. It appears to us that the house has been updated beautifully. There is a new kitchen, bathroom and flooring, and it is freshly painted. Flippers seem to have a poor reputation, making us uneasy about buying it. Several friends have warned...Read more

Dear Monty: We will soon be in the market to buy our first home. We'll start looking for homes the owner is selling without an agent. If we have no luck there, we will turn to an agent we know. If you were buying your first home today, what questions would you ask the seller?

Monty's Answer: A key component is having the seller present when ...Read more

Dear Monty: We have been following the news regarding the class action lawsuits against the real estate trade association and a number of the major brokerages. We have spoken to two real estate agents we are acquainted with to hear their reactions. The responses we received were very different and left us confused about the buyer agent's role. ...Read more

Dear Monty: I have learned that a neighbor is "selling" their property for a negotiated price several hundred thousand dollars below the actual transaction price to help the new buyer to have a lower property tax base. The difference from the exact purchase price is that the seller supposedly pays the buyer several hundred thousand dollars for...Read more

Dear Monty: I live in Georgia, and we own an older investment property in New York. My husband is in a nursing home, and I need to sell the investment property to help with the cost of his care. I want to sell the property quickly. Under normal circumstances, I would have the property management company do the rehab needed to sell the property...Read more

Dear Monty: We purchased our home nine months ago. We were told we would need some backfill because the backyard had a slight bowl. Nothing was mentioned about water. Since then, we have had lots of water in the basement, and some concrete is crumbling. I have a scheduled waterproofing. I should have questioned it before, but it is the rainy ...Read more

Dear Monty: We own a condo in the only four-unit building in our condo community. The rest are two-unit, three-unit, or stand-alone condos. This is an upscale community. We had a roof leak, and the homeowners association paid for the repair, but they put on shingles that don't match the rest of the roof. It is unsightly and makes our condo ...Read more

Dear Monty: We are potential first-time homebuyers. While we have not begun looking at homes, conflicting reports on the impact of these lawsuits on homebuyers exist. How has the National Association of Realtors vs. Sitzer/Burnett lawsuit changed things for homebuyers?

Monty's Answer: NAR's Clear Cooperation Policy will be replaced in July. ...Read more