Archive for March, 2011

How the iPad is Changing Real Estate

March 28, 2011

If you don’t know much about the Apple iPad, you’ve been living under that proverbial technology rock. The world of mobile technology is evolving before our eyes, and its effects will change the entire personal computing industry. Over the next decade, our laptops, desktops, smartphones, tablets and netbooks will change drastically to incorporate iPad features that are barely in their infancy. The lines between “desktop” and “mobile” computers will blur, and you will eventually end up with one personal device that does it all.

I could talk with you all day about how tablet computers, particularly the iPad, are changing the world (read the prophetic, but already outdated, year-old Wired article Rise of the Machines for more) but we’re here to talk about real estate. In particular, we’ll examine what the iPad has uncovered that will change the way consumers locate, buy and sell homes, and how the business of being a real estate agent will evolve.

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D-I-V-O-R-C-E and Real Estate, Part 5

March 21, 2011

Continued from “D-I-V-O-R-C-E and Real Estate, Part 4”.

Previous segments of this blog have discussed the necessity of divorcing spouses doing sufficient Due Diligence regarding the real value, the current condition and the known and unknown risks of jointly owned real estate.

I’ve saved the biggest bombshell for last. Real estate practitioners are too well acquainted with this “problem”, because we deal with the repercussions every day. It’s the MORTGAGE HANGOVER. 

Sadly, divorcing spouses actually believe their divorce decree.  (more…)

Earthquake!!! Part Two

March 14, 2011

See Glen Curry’s first Earthquake blog for more information.

With the recent devastation in Japan and its far-reaching impact, including Tsunami Waves that hit the shores of the United States last week, we need to re-visit the home and auto insurance policies for determination of coverage.

All home insurance policies have exclusions for “earth movement”.  This includes earthquake, land slide, mud slide, settling and cracking of the Earth. As such, I recommend an Earthquake Endorsement to cover Earthquakes. There are no endorsements available for land slide, mud slide or settling. So, in order for the coverage to apply in the Earthquake Endorsement, there must be a recorded shifting of the Earth from the Seismology Center.

Now, from an underwriting perspective, the pricing of the endorsement takes into account the following factors: (more…)

D-I-V-O-R-C-E and Real Estate, Part 4

March 7, 2011

clue reportContinued from “D-I-V-O-R-C-E and Real Estate, Part 3”.

Even a friendly, uncontested divorce can have nasty consequences at a later time. I’ve already blogged about being “too nice” and simply subtracting the (known) mortgage(s) from an appraised value of the family home to determine the value of the equity asset. Too little Due Diligence is usually done to determine all of the financial liens against the home and the true value of the home in its current condition. 

I feel fairly certain that NO Due Diligence is done to determine how risky the marital home is. Risky? What does that mean? And why should the in-spouse or out-spouse be concerned? (more…)