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Tuesday, August 20, 2019  Spokane, Washington  Est. May 19, 1883
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Stories tagged: Tom Kelly


Stick to fundamentals: Second home or investment property

If the reports of a major dusting of snow has you running to your favorite slope (or to a plane en route to warmer weather), don’t too get carried away …


Tom Kelly: Keeping the peace while slicing up your getaway property

If you are taking the offseason to figure out the best way to slice off a piece of your vacation property for the kids or sell a section to a …


Tom Kelly: The dangers of owning a long-distance retreat

If you snooze, you lose. It’s right up there behind Murphy’s Law as one of the surest things in life.


Tom Kelly: Ex-wrestler passes along investment property tips

Neal Hargrove spent 15 years as a professional wrestler with the World Wrestling Federation. He made a very good living in the ring as Reno Riggins and plowed most of …


Consistent lack of inventory became year’s top housing story

In 2015, demand far outpaced supply. The lack of homes for sale in many areas was compounded by potential sellers unwilling to list their homes until confident they could find …


Tom Kelly: Want to sell your house? Bake Christmas cookies

With Christmas and New Year’s right around the corner, real estate brokers usually expect a slowdown as buyers and sellers shift their attention elsewhere. This year is different.


Tom Kelly: Active Living Rental Communities give seniors options

What’s an attractive living option for an elderly home owner who is house rich and cash poor, yet cannot afford to sink all of the equity of the family home …


Strategies for keeping the cabin in the family

Has the recent weather left you feeling “too old” to run up and inspect the family cabin? Is it time you made a decision on the future of the wonderful …


When to streamline your FHA 203k loan

More and more consumers are becoming aware that two versions of the Federal Housing Administration’s 203K program from the U.S. Department of Housing and Urban Development are available for both …


Tom Kelly: What to do if your child-manager leaves college early

Friends of mine are coming to terms with their child’s decision to drop out of school and spend “at least a semester” in the film industry. An associated concern is …


Realtors must change strategy when no comparable sales exist

How do you determine the fair market price of a home? Typically, an appraiser or a group of real estate agents visit the property, check the prices of comparable homes …


Underused loan program allows homebuyers to combine all costs

With today’s skyrocketing home prices, how can first-time homebuyers save enough cash to get in the door, let alone do the needed repairs that usually come with a home in …


Tom Kelly: Aging homebuyers fall into different classifications

I’ve known Stan Johnson for more than 25 years. He is 60, divorced and the father of two children, the younger child a girl who will graduate from high school …


Canadian property carries host of issues for U.S. buyers

We have some friends who chose this summer to visit Fenway Park, most of the rest of New England and even boarded a ferry from Portland, Maine, to Yarmouth, Nova …


Consider multiple options for your vacation rental

Let’s suppose you have been on the fence regarding the purchase of a vacation rental. You have a gut feeling others would rent the place, but you cannot afford to …


Your vacation getaway spot has potential for cash flow

Unlike many U.S. neighborhoods, let’s assume prices have remained flat in the area where you like to vacation. You’ve spent so much time there in the past that the cash …


Contract clauses can become stress-raisers in buying, building

One of the most underestimated stress-raisers in buying, selling or building a home is attempting to understand the initial paperwork. This opening act includes earnest-money agreements, contingency addendums and building …


Twins look for new manager

The Minnesota Twins fired manager Ron Gardenhire on Monday, saying it was time for a new voice after his 13-season tenure concluded with at least 92 losses in each of …


Tom Kelly: ‘Mother-in-law’ units fall in gray area

Eileen Casey moved from her home in a multifamily, business-zoned area in town to a single-family zoned area in the suburbs because the traffic and noise had become too much …


Tom Kelly: Consistent, low rates lifted housing market

Mortgage lenders are moaning that the refinance boom is over and the only way to make a profit in 2014 is to be successful in the new purchase business. I …


Tom Kelly: Well-decorated homes appeal to buyers no matter the season

The neighborhood kids all arrived, bundled in holiday scarves and hats, plus patent leather shoes usually reserved for weddings and Sunday Mass at St. Theresa’s. Our old house, a large …


Tom Kelly: Complex history helps shape benefits for 55-plus housing

Why are developments and buildings for persons age 55 and older exempt from restrictions and seemingly so favored? A brief review of this country’s housing laws, and the reasons for …


Tom Kelly: Do homework when considering vacant land

While real estate typically is a solid long-term investment, investors and vacation-property buyers should be cautious when buying vacant land or raw land even if there clearly is marketable timber …


Vacation rental owners stand to benefit from new options

The biggest push-back against purchasing space for a listing on vacation rental sites – especially for owners with a short rental season or a single event, such as golf tournament, …


Reverse mortgage strategy can open door to second home

A reverse mortgage must be made against a primary residence, but the loan can absolutely be used to help purchase a second home. While the proceeds of a reverse mortgage …


Do your homework before entering second-home market

If the end of the summer rental season – extended in many areas by balmy weather – has you eyeing seemingly bargain properties, don’t get too carried away with the …


Vacation rental coverage needs seasonal checkup

Now that Labor Day has wrapped up the last official weekend of the summer season, owners will begin to review how they can improve their vacation rentals for next year’s …


Vacation investments require alternative financing methods

Not everybody qualifies for a loan – let alone on a property other than a primary residence. If you have been turned down for conventional financing on a vacation investment …


Borrowers should be prepared for change in loan ownership

Nicki Long’s questions were simple and straightforward: “Who owns my loan?” the single woman asked. “Why is it such a big secret when you try to find out?”


Second-home deduction awaits recreational vehicle owners

A 50-something man climbed down from behind the wheel of the massive recreational vehicle in the parking lot of a county park. “It’s my second home,” the man said to …