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The Spokesman-Review Newspaper The Spokesman-Review

Wednesday, August 21, 2019  Spokane, Washington  Est. May 19, 1883
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Stories tagged: Tom Kelly


Tom Kelly: Home-equity loans come in different forms

The loans have given lenders the incentive to smooth over the unpleasant connotations of “second mortgage” and create a new atmosphere surrounding “home equity.”


Tom Kelly: Condo financing taking dead aim on renters

A court case sent a message that condo associations should be careful on how owner-occupant ratios are achieved.


Tom Kelly: Personal touch getting lost in mortgage marketplace

Why do business with a company that refuses to speak to you? Regardless of how much information is available online and on the phone, if I pay for a service, …


Tom Kelly: Homebuilders take hotel service to heart

The nation’s top homebuilders have sought counsel from service-oriented leaders like Ritz Carlton in an attempt to corral loyalty and its incredibly powerful result – marketable referrals – to subdivisions …


Tom Kelly: Second home? How to determine what you really can afford

Mention the term “second home” to a dozen people and half will probably tell you that it is also an “investment home.” That’s because many second homes are actually investment …


Seller financing has more than one option

Many of today’s borrowers, even those anticipating a smooth refinance, are having difficulty qualifying for a loan on their principal residence. Homeowners became so used to the quick turnarounds during …


Tom Kelly: Can your lender challenge loan data after closing

Although lenders sometimes disclose at the time of application that employment, assets and credit may be reverified again near or on the closing date for quality control purposes, a reverification …


Tom Kelly: Few homeowners use mortgage interest deduction

While any altering of the deduction has always been viewed as a slug to the midsection by a majority of homeowners, the number of taxpayers choosing to itemize – and …


Tom Kelly: Re-entry into housing market requires vision

The best process to begin the selection of your next home and its geographic location involves creating the most detailed image you can by picturing yourself in it and all …


Tom Kelly: Elevators create new options to moving

According to the National Association of Elevator Contractors, the basic residential elevator package starts at about $20,000 and can be installed in a 4-by-4-foot space previously designated as a closet. …


Tom Kelly: Do personal notes work in a hot market?

Do personal notes have any success in a red-hot neighborhood for real estate? There is no specific data but they probably can’t hurt your case. It’s a good idea to …


Tom Kelly: During a New Year visit a main-floor bedroom, bath come in handy

Hosting parents or older guests, especially those scheduled to stay overnight for the first time, requires particular preparation. Homey seasonal touches can make friends and family feel welcome, yet safety …


Job-loss insurance coverage can help cover mortgage payments

Job-loss insurance will pay an individual’s monthly mortgage payment, including principal, interest, taxes and any escrow impounds, should the insured become involuntarily unemployed. Self-employed and seasonal workers typically are not …


Tom Kelley: Adding a hot tub can help boost your four-season rental potential

Adding a hot tub is a sure way to lure people to vacation-home rentals.


Tom Kelly: Would a remodel make more sense than a move?

We hear it all the time—a house is worth what somebody is willing to pay for it. And in many neighborhoods, many people are paying a lot of money to …


Tom Kelly: No ‘blending’ of former and current home sale rules

It’s been nearly 20 years since a slicker, reusable model replaced the one-time capital gains exclusion on the sale of one’s principal residence, yet the “new” law still perplexes many …


Tom Kelly: Preferred housing terms for seniors, boomers

What are the terms that housing industry experts expect to run with in the future? Have they found the words that are absolutely taboo when marketing to seniors and aging …


Faculty make prime renters for college-area homes

If you do not have children, or feel they are not mature enough to head up a dorm-alternative household, there are still attractive rental possibilities for your potential property that …


Tom Kelly: Huge tax hit? Spread out cabin payments over time

If you no longer choose to nurse a rental or vacation cabin and want to sell it, you can spread any resulting capital gains tax over time by “playing the …


Back-to-school dorm option could make sense

Back to school means back to the books—including the family checkbook. If you are ready to drop your son, daughter, grandson or granddaughter in a college environment, tuition and room-and-board …


Second-homeowners look to alternative financing

Many second-homeowners - especially those in the full-time vacation rental business - are looking to purchase another property but often face stringent financing guidelines. The same challenges, even with historically …


Getting creative to fill vacation vacancies

With the summer rental season in full swing, second-home owners hoping to rent out their getaways to travelers and vacationers are looking for creative ways to fill remaining vacancies in …


Tom Kelly: Appraisals lag in a hot housing market

Residential inventories might be on the rise in some neighborhoods but you would never know it by the number of offers on some well presented listings. Regardless of what ultimate …


Tom Kelly: The busiest time to move has arrived

School soon will be out and many kids will be on the move—many back to the folks’ house. While Mom and Dad might have room for some of their stuff, …


Tom Kelly: Tax-deferred exchanges offer a different path for real estate investors

Most real estate investors are familiar with tax-deferred exchanges. This practice allows the seller of an investment property to defer the gain on a sale by purchasing property of equal …


Tom Kelly: Make the right first impression with rentals

Memorial Day is right around the corner. The summer vacation season, coupled with the popularity of by-owner rental sites, has you ready to jump in to the rental industry. It’s …


Tom Kelly: Who can afford the tax on a raffle home? Most take the cash

The challenge of purchasing a home in a hot housing market has bolstered non-profit fund-raising efforts while boosting the dreams of potential homebuyers priced out of rapidly appreciating neighborhoods.


Tom Kelly: Foreigners take part in an increasing number of deals

Sales of homes to and by foreigners or foreign property has become a popular topic in many neighborhoods and college towns.


Tom Kelly: Changing the tax status and moving to another property

If you are considering making your vacation home your permanent residence, or vice versa, you should begin planning for a change in primary residence status.


Tom Kelly: First-time homebuyers should try everything else before tapping IRA

While consumers typically try to keep Individual Retirement Accounts geared to serve only retirement plans, terrific intentions sometimes have taken an alternate road.