Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Sunday, August 25, 2019  Spokane, Washington  Est. May 19, 1883
Partly Cloudy Night 65° Partly Cloudy

Tags


Everything tagged


Sort by:

Stories tagged: Tom Kelly


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 …


Buyers must be ready to act fast when they find right house

We have friends who lived in the neighborhood for more than a decade then moved away to take jobs overseas. Now, they are planning to return and asked that we …


Prepayment plans surface with increased home values

A financial planner once told me that people really did not concentrate on saving for retirement until they paid off their home mortgage. The reason was that discretionary income was …


Kelly: The stigma of foreclosure lifts as lenders alienate borrowers

Our nephew, a high school teacher and coach in Southern California, decided to stop paying on his mortgage a year ago. Matt, 34, is still in the home.


Reverifications help lenders weed out fraudulent borrowers

Can your lender challenge loan data after closing? Credit has become tighter and lenders are spending more time verifying a borrower’s assets, especially for investors. But just how long is …


Renting or buying is more than just a tax decision

The housing market is definitely on the uptick and rents are rising in most neighborhoods. There’s a tendency, however, by both landlords and salespersons to juggle numbers when they are …


Bargain properties, rising rents push more investors into market

With single-family home and apartment rents rising plus bargain properties still on the real estate market, investors are looking to take advantage of attractive deals. In fact, some real estate …


Kelly: Abusive lending practices continue to target minorities

Both candidates in the November presidential election did little to offer a significant national housing policy, let alone cater to the needs – and deal with the abuses – of …


Pace of shadow inventory becomes real estate’s top story

Marty Linsky, a faculty member at the Harvard University’s Kennedy School of Government and co-author of the book “Leadership on the Line,” has popularized a line about how much consumers …


Informed seniors can prevent reverse-mortgage disasters

Reverse mortgage lenders gathered in San Antonio recently for their annual meeting and were met with another inaccurate story in a national publication. According to the piece “many” seniors were …


Under right circumstances, seller financing can be bargain

Lenders are being more cautious. While mortgage rates continue to hit new lows, the ultra-low rates are out of reach for many would-be borrowers who can’t meet strict underwriting standards. …


New house? Don’t confuse performance with maintenance

The son of a longtime friend recently caught me at a Friday night high-school game and informed me he and his wife had turned down an older home in the …


Value of view plays key role in selling price of property

What’s the most sought-after amenity in a property? Probably waterfront, but those homes are limited in number. There’s no debate for second place: view.


If you charge for waterfront access, check your insurance

Many fishermen cut through private property to reach their favorite section of a river. Often, that entry can be illegal trespassing, but there are many places where access is granted …


Senior homeowners deserve more choices with mortgages

Perhaps the biggest boost to the reverse mortgage industry occurred when the U.S. Department of Housing and Urban Development announced it would insure its own product, the Home Equity Conversion …


Shadow inventory lingers for second-home owners

I continually find myself tempering the exuberance of homeowners who are absolutely dead-set on the idea that all home values will soon appreciate. The latest example occurred on a long …


Most second homes would escape new 3.8 percent tax

The warm summer weekend at the lake brought out sailors, wake boarders and even some old-time slalom water skiers. The discussion on more than one dock also focused on an …


Tom Kelly: Agents offer help, hints for FSBO sellers

Some people simply like to do the work themselves. The reasons vary – from saving money, to meeting new people, to learning a new skill. Others would simply prefer to …


MetLife decides to pull plug on reverse mortgage business

MetLife was jumping over dollars to get to dimes. That’s how the huge life insurance company viewed reverse mortgages and, helped along by a slap on the wrist, was the …


Some communities remain slow in warming to vacation rentals

We often hear that “real estate is local,” and that there is little use in dreading or celebrating national home sale prices and activity. For example, why should sellers fear …


Separate residences still offer tax benefits

Before the current, rather liberal tax advantages for home ownership, many older people delayed or declined marriage or remarriage “for tax purposes.” That’s because each person over age 55 was …


Should known crimes return to sellers’ disclosure forms?

We once bought a large family home in Seattle’s Madrona neighborhood where a woman shot and killed her husband in front of the living room fireplace. Should we have been …


Kelly: Mortgage relief won’t face tax – if you can get it, that is

Due to the decline in housing prices, many home sales are “short sales” in which the purchase price offered by the buyer is less than the mortgage amount owed by …


Broker’s level of expertise may not be what you’re seeking

When we bought our first home, my wife and I were stunned to discover that the person representing us in the transaction did not have a real estate license. Here …


Tom Kelly: Money to be made in yard, driveway rentals

My father was a physician in a two-man shop. He was also a baseball fan. When he was “on call” and felt things were calm enough to attend a game, …


Kelly: Turning home into rental brings enticing tax benefits

Seniors are particularly careful about guarding their assets. With little monthly income, older people still living in their longtime primary residences need to make the most of an eventual home …


Kelly: Housing stabilization seems to be moving target

The most popular question since the mortgage meltdown and subsequent dive in home prices has changed in the past 12 months. It has evolved from “where’s the bottom?” to “what’s …


Holiday traditions linger in and out of the home

When our four kids were younger, Santa Claus always arrived earlier than expected. We set up the tree a few days after Thanksgiving, decorated it with lights and sentimental ornaments …


There’s no ‘Plan B’ if mortgage interest deduction goes away

Moe Veissi, the new president of the National Association of Realtors, didn’t even blink an eye when the sensitive question was raised. It wasn’t an elephant-in-the-room topic, but it was …


Higher property appraisal brings out agent’s competitive side

In a recent column, we asked if a person who serves homebuyers and sellers for a living should be held to different guidelines if they are competing to purchase a …