How to unload a timeshare
Is there a legitimate way to sell a timeshare? Read in June issue of
Money Magazine about a guy in Ohio who sold his at a loss and wanted to
claim a capital loss. I'd like to just get rid of mine, regardless of a
loss. --Mike, Fort Myers, Fla.
Timeshares give owners joint ownership in vacation properties, often in
tropical hotspots like Hawaii or Florida. But on top of purchase costs,
the properties typically come with annual maintenance fees and other
costs that can add up to thousands of dollars a year.
Whether the resort wasn't the vacation paradise they intended or they
simply couldn't afford it anymore, many timeshare owners have struggled
to unload properties they purchased during better financial times.
This has created fertile ground for scam artists, who charge thousands
in upfront fees to help sell timeshare properties, but rarely facilitate
actual sales, the Federal Trade Commission warns.
But you can unload a timeshare without getting stuck in a scam. Just be
prepared to lose money on the sale, since resale prices are usually much
lower.
Lloyd Segal
Showing posts with label ripoff report. Show all posts
Showing posts with label ripoff report. Show all posts
Saturday, July 5, 2014
Home Prices Are On The Rise!
The majority of Americans now are forecasting home prices to rise, and
only about a third are expecting prices to fall, a reversal in attitudes
of a year ago.
A monthly survey by mortgage finance firm Fannie Mae found 51% of those questioned in April believe prices will rise in the next 12 months, while only 35% are projecting a drop in prices. It is the first time in the three-year history of the survey that a majority said they expect prices to increase.
A year ago, 49% were expecting further price declines while only 32% said they though prices were on their way up.
The latest data from the housing market back up the this new level of confidence in the housing recovery. The S&P Case-Shiller Home Price Index rose 9.3% over the last 12 months, the biggest annual rise in home prices since the height of the housing bubble in 2006. For more information about Lloyd Segal visit http://www.lloyd-segal.net
McMansions are making a comeback
As the economy recovers, America's love affair with the oversized McMansion has been reignited.
During the past three years, the average size of new homes has grown significantly, according to a Census Bureau report released Monday. In 2014, the median home in the U.S. hit an all-time record of 2,306 square feet, up 8% from 2009.
During the recession, Americans downsized and the average new home shrunk in size by 6% over two years to 2,135 square feet. At the time, many industry experts said the days of the McMansion were over.
The shrinkage was supposed to indicate that a new era had begun, with young buyers seeking to live closer to urban cores and settling for smaller places and baby boomers downsizing after their kids had flown the nest.
But it wasn't that consumers wanted less space, many just couldn't afford more, said Jeffry Roos, a regional president for home builder Lennar. And now that the economy is improving, they're demanding bigger homes again, he said.
Related: Best deals on real estate
In 2014, the National Association of Home Builders conducted a survey of homebuyer preferences and found that people preferred a median home size of 2,226 square feet, just shy of the Census Bureau's recently reported median size.
And the homes seem to be getting even bigger this year, according to builders. Marcie DePlaza, a division president for GL Homes, said so far this year her company is selling homes that average about 7% larger than during the first five months of 2014.
Rose Quint, an assistant vice president for survey research with NAHB, said the trend toward larger homes might be less pronounced if mortgages were easier to get for low- and middle-income borrowers. With tough underwriting standards in place, the buyers who land mortgages tend to be more affluent and able to afford bigger houses.
Lloyd Segal
A monthly survey by mortgage finance firm Fannie Mae found 51% of those questioned in April believe prices will rise in the next 12 months, while only 35% are projecting a drop in prices. It is the first time in the three-year history of the survey that a majority said they expect prices to increase.
A year ago, 49% were expecting further price declines while only 32% said they though prices were on their way up.
The latest data from the housing market back up the this new level of confidence in the housing recovery. The S&P Case-Shiller Home Price Index rose 9.3% over the last 12 months, the biggest annual rise in home prices since the height of the housing bubble in 2006. For more information about Lloyd Segal visit http://www.lloyd-segal.net
McMansions are making a comeback
As the economy recovers, America's love affair with the oversized McMansion has been reignited.
During the past three years, the average size of new homes has grown significantly, according to a Census Bureau report released Monday. In 2014, the median home in the U.S. hit an all-time record of 2,306 square feet, up 8% from 2009.
During the recession, Americans downsized and the average new home shrunk in size by 6% over two years to 2,135 square feet. At the time, many industry experts said the days of the McMansion were over.
The shrinkage was supposed to indicate that a new era had begun, with young buyers seeking to live closer to urban cores and settling for smaller places and baby boomers downsizing after their kids had flown the nest.
But it wasn't that consumers wanted less space, many just couldn't afford more, said Jeffry Roos, a regional president for home builder Lennar. And now that the economy is improving, they're demanding bigger homes again, he said.
Related: Best deals on real estate
In 2014, the National Association of Home Builders conducted a survey of homebuyer preferences and found that people preferred a median home size of 2,226 square feet, just shy of the Census Bureau's recently reported median size.
And the homes seem to be getting even bigger this year, according to builders. Marcie DePlaza, a division president for GL Homes, said so far this year her company is selling homes that average about 7% larger than during the first five months of 2014.
Rose Quint, an assistant vice president for survey research with NAHB, said the trend toward larger homes might be less pronounced if mortgages were easier to get for low- and middle-income borrowers. With tough underwriting standards in place, the buyers who land mortgages tend to be more affluent and able to afford bigger houses.
Lloyd Segal
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