DEAR BENNY: We live in California and own a second home within five miles of our primary residence. This second home has been used as a rental, initially to persons we were not connected with in any way. For the past 10 years, two different sets of relatives who were in need of a new start in life lived in the home.Read More »
Dear Mr. Berko: I bought 100 shares of Best Buy in the beginning of 2011 at $32, and now it's $26. Please tell me what you think its prospects are for this year and next. Do you think I should buy another 100 shares or hold what I have? Or should I sell my stock and take a loss?Read More »
As local, county and state governments face growing, and sometimes desperate, economic needs, they increasingly turn to real estate transfer taxes as a source of funding. This is a tax that may be imposed at the closing of home sales or other real property transactions.Read More »
DEAR BENNY: I own two homes. In my will and my trust, I have assigned a beneficiary for each of the properties. However, I would like for the properties to cede to a nonprofit once the designated beneficiary dies, rather than the properties being successively willed to beneficiaries of their choosing. Is there any means to make this happen? – JerryRead More »
Dear Benny: I had two properties foreclosed on this year. Although we had short-sale offers on both properties, for some reason the banks would not accept the offers. One of them was my primary residence, which had a first loan of $417,000, and a second in the amount of $180,000. The second home was an investment property, for which the first loan was $290,000 and the second loan was $60,000.
Tagged with: Benny KassRead More »
An interesting trend is surfacing in today's housing industry. More first-time homebuyers are being financially assisted by their parents. This is particularly noticeable when the parents are among the baby boomer generation. They are showing an intense interest in helping their children and grandchildren become homeowners.
Tagged with: Jim WoodwardRead More »
Dear Mr. Berko: I have $86,000 in CDs and have never been in the market. My new broker and I feel that the stock market will be great in 2012 and 2013, and he has advised that I invest in three mutuals. But I would also want to own different, good stocks too. Could you tell me the names of maybe six top stocks that'll do real well in the market?
Tagged with: Malcolm BerkoRead More »