HDTenEightyP/NetNews huggingface dataset:
From: slansky_doug@macmail1.rtsg.mot.com
Subject: Re: request info. on tax credit for first time home buyers
Organization: CSG Group
Distribution: usa
Date: Mon, 5 Oct 1992 13:31:30 GMT

In article <1992Oct3.200041.9939@u.washington.edu>
srini@milton.u.washington.edu (Srini Tridandapani) writes:
> 
>Does anybody know any of the fine print that is in the tax bill
>passed by the senate two days ago... I am specifically interested
>in the details of the first time home buyers tax credit....
>
>I am trying to find out the strings attached to the credit deal.
>More specifically will this credit beapplicable if you bought a
>house for the first time but rented it out instead of living in it.
>If the house were somehow declared as being for investment purposes
>in the mortgage papers would this disqualify me from availing of 
>the tax credit???
>
>Please mail any info. to mansoor@ssdc.honeywell.com
>
>Thanks,
>Mansoor Ahmed
>
>
Sorry, the bill that was passed dropped this credit.  If it had passed, it
would have been for first-time buyers of new construction only.

Doug
Newsgroups: misc.invest.real-estate
From: luisg@hadarfai.com (Luis Galleguillos)
Subject: test
Originator: luisg@lugano
Organization: Fujitsu NTS
Distribution: ba
Date: Fri, 2 Oct 1992 00:21:09 GMT


I am testing; ignore please
Newsgroups: misc.invest.real-estate
From: ajg@controls.ccd.harris.com (Arnold Goldberg)
Subject: Book on Exchanges
Organization: Harris Controls and Compositions
Distribution: misc
Date: Tue, 29 Sep 1992 12:10:28 GMT


Has anyone read any good books that describe how to do tax-deferred
exchanges (the kind where you trade like-kind property for like-kind,
not the step-up exchange... I forget which is which, 1034 or 1031).

Anyway, I'm selling one of my houses and I'm trying to preserve some of
my capital gains.  


thanks

arnold

--
------------------------------------------------------------------------
Arnold Goldberg                            Email:  ajg@ccd.harris.com
Phone: (407)242-5051                       Snail:  Harris Controls
Fax  : (407)242-4262                               407 John Rodes Blvd.
                                                   Melbourne, FL 32905
The opinions expressed are my own and do not in any way represent Harris 
------------------------------------------------------------------------
From: terry@cs.umd.edu (Terry Gaasterland)
Newsgroups: misc.invest.real-estate
Subject: (not) selling a condo - other options?
Date: 28 Sep 92 18:15:59 GMT
Distribution: usa
Organization: U of Maryland, Dept. of Computer Science, Coll. Pk., MD 20742

I have a question about creative ways to buy a new house.  Here's 
the situation:

My aunt has found the house of her dreams and wants ever so much to 
buy it.  Right now, she owns a 1 bedroom condo in Chevy Chase 
(Washington DC) that is about a 4 minute walk to the local Metro.
She needs to sell the condo ($145Kish) to buy the house ($270Kish).
She bought the condo at $50K and refinanced at $100K to use some of the 
equity to buy a $10K car.  

Selling her condo has turned into a looo-oong wait.  Because of 
the location, it's not cheap.  Because of the market and the economy,
there are not many buyers, it seems.

The house is a new house, built by a development corporation.  The houses
are selling slowly but surely.

What alternatives does she have?  Is there a way to turn the condo
into a rental property and use it as collateral on the house?  Basically,
my aunt needs the equity in the condo to bring down the mortgage 
payment of the house.  Can that be achieved in other ways?  

Creative ideas are welcome...

  -- Terry Gaasterland
Newsgroups: misc.invest.real-estate
From: jjs@iedv7.acd.com ( James J. Song       )
Subject: Re: MLS access
Organization: Applied Computing Devices, Inc.
Distribution: misc.invest.real-estate
Date: Thu, 1 Oct 1992 12:50:26 GMT

In article <1992Sep30.002003.12259@iacd> jgarland@ws20.ips.iacd.honeywell.com (Jeff Garland) writes:
>
>I think this is true everywhere and it is something that is extremely
>annoying.  When I am looking for a house I don't want to have to call
>a real estate agent...they are just in the way.
>

You can access MLS through them, But you don't have to buy a house
through them. My agent gave me a few copies of MLS while I was searching.
But I did not just use him to get the MLS, I bought a house through him, 
too. :-)
___
From: ackerman@athena.mit.edu (Mark S. Ackerman)
Subject: what is a loan broker?
Organization: Massachusetts Institute of Technology
Distribution: usa
Date: Sun, 4 Oct 1992 04:57:30 GMT

We're in the process of buying a house for the first time.  The real
estate agent (part of a university bureaucracy) is pushing for a
specific loan broker.  I have asked what his function is, and I think
I'm clear that he's an expeditor.  What I need to know is where his
cut comes from?  He's told me that it comes from the bank's cut, and
he charges no extra amount.  On the other hand, I've noticed that the
rates he's quoting are consistently a tad higher than the ones in the
local newspaper.

Comments?

			Mark Ackerman
			("Ack")
			MIT/Center for Coordination Science

			(and soon)
			Information and Computer Science
			University of California - Irvine

Newsgroups: misc.invest.real-estate
From: mml@bae.bellcore.com (MingMei Lee)
Subject: What is the definition of a principal home?
Reply-To: mml@bae.bellcore.com
Organization: Bell Communications Research
Distribution: usa
Date: Tue, 29 Sep 92 15:29:34 GMT


We are in the process of selling our house
and would appeciate information regarding its tax consequence.

Information on the following questions will help:

        1. What is IRS definition of a principal home?

        2. What constitute the basis of home?

        3. What are capital improvements?

        4. What constitutes fixing-up expenses?

        5. Can we deduct the closing cost that we incurred when we
           bought the house?

        6. Can we deduct the refinance cost?

Any information will be greatly appreciated.
From: jfox@hooksett.East.Sun.COM (John Fox - SunExpress IR)
Newsgroups: misc.invest.real-estate
Subject: Re: Selling your own home
Date: 30 Sep 92 12:40:41 GMT
Reply-To: jfox@hooksett.East.Sun.COM
Organization: Sun Microsystems, Inc.
NNTP-Posting-Host: hooksett.east.sun.com

In article 17663@ucdavis.ucdavis.edu, cctat@othello.ucdavis.edu (Ivars Balkits) writes:
> 
> I wonder if anyone on this list has any advice for me regarding appraisals
> and appraisers. We started (in agreement with our realtor) at $164,500 as
> our asking price. To date we've had two offers, both $25,000 below the
> asking price. We had already dropped to $159,000 when we got an offer of
> $139,500 from another _realtor_ who wants to add on to the house, etc. We
> went to $150,000 firm.
> 
> Okay, that's just background. Now countering our firm counteroffer, this
> realtor offered to buy the place if we would agree to have two appraisers
> (one paid by us) to determine a a price. She, the realtor, said she would
> go with the higher appraisal. We said we didn't have the money on hand to
> pay for an appraisal now... she offered to pay for one appraiser that we
> picked out. We talked this over with a realtor friend of ours in an
> other city... she said we shouldn't agree to an appraisal until our offer
> is accepted -- because loan appraisers will generally go along with an
> asking price if the deal is set and the figure is not too far off from
> their estimation of the property's value. On the other hand, if the sale
> is not certain, the appraisal will be conservative.
> 
> Does that jib with your knowledge of the way appraisals work? Were we 
> right to refuse this request for an appraisal before hearing asecond
> counteroffer?
> 
> Thanks for any info you can give me.
> 
> Ivars
> isbalkits@ucdavis.edu

It sounds like this realtor who wants to buy your house is only willing to
have the price set by an appraisal. If that's the case, how can an offer
be accepted until the price is set, which would happen *after* the appraisal?
Anyway, what I would do it talk with your realtor and ask what he/she
honestly (which may be asking a lot) feels the appraisal will come in at.
Use that as a rough guide to determine if you are willing to sell at that
price. If you are not comfortable with that, I'd spring for an appraisal
without committing to this potential buyer. If that price is acceptable
to you, go ahead and draw up the sale at that price. Chances are you won't
get much more than that anyway.
I would not agree to sell at an appraised price prior to the appraisal
being performed. Get it done ahead. Your only risk is that the seller can
back out since nothing will be cast in stone beforehand. I'd rather have
that than to be contracturally required to sell at a price set by a 3rd
party!


John
From: dougb@novell.com (Doug Barlow)
Newsgroups: misc.invest.real-estate
Subject: Question about a clause in my closing agreement
Date: 2 Oct 92 23:54:14 GMT
Organization: Novell, Inc.

I closed on my first home about 2 months ago and have had something bother me
ever since then.  There was an interesting clause in my 3 inch stack of
paperwork to sign that said something like PAYMENT ON DEMAND CLAUSE.

It stated that, at the option of the lender, they could give me a 30-day
notice to payoff the loan in full or they could forclose on me.  (I don't
remember the exact wording on it but I could go home and get it if needed.)

I brought it up at closing and the title company agent said that it
is very common today and the reason that no one ever gives notice is because
it may make the bank look like it's out of money and would, in turn, cause
a run on the bank. 

It sounded good at the time.  I then signed the rest of the paperwork 
and now have my home.  

DID I MAKE A BIG MISTAKE?  Is this a common clause in closing agreements? 
If it isn't, should I refinance?

Comments?


--------------------------------------------------------------------------
Doug Barlow                   Email: DOUGB@NOVELL.COM
Novell, Inc.  Provo, UT
            The opinions expressed above are solely my own and
	    do not in any way represent the opinions of Novell, Inc.
--------------------------------------------------------------------------
Newsgroups: misc.invest.real-estate
From: lindae@netcom.com ()
Subject: Roommate Needed (Sunnyvale)
Date: Sun, 27 Sep 92 19:33:50 GMT
Organization: Netcom - Online Communication Services  (408 241-9760 guest) 

I have put a deposit on a beautiful apartment in Sunnyvale.  Now, 
the only thing missing is a roommate.  This is a 2 bedroom, 2 bath apartment
with a Loft.  The loft is the size of a "small" room and it overlooks
the living room area.  The bedrooms are 10 x 14 with a bathroom just
outside the bedroom door and an 11 x 14 master bedroom w/bathroom.  Each
room has its benefits.  The 10 x14 has a walk-in closet, while the 11 x 14
has its own balcony.  Like I said, this is a VERY NICE apartment.  The
complex is only about 4 years old... it has 2 swimming pools, a jacuzzi,
and a small workout room.

The roommate I am looking for is:
25-35 years old
Female
Professional
Responsible
non-smoker, no drugs, and no pets

I, too, fall into this description.

Since we will both be moving in to this apartment at the same time, neither
one of us will feel like we're moving into someone else's house.  I think
that will be the nice part.  I am open to discussion on who gets which
room, who gets the assigned parking space, etc.  The loft area is a
room that we both will share.  I will be using half of the room to
set up my desk and computer.  You can use the other half for study/work
space or whatever.

The total rent is $1135.00/month (don't forget, this includes the loft
area) so that comes to $567.50 each.  As of right now, the apt. is
going to be available for us to move in around November 15th, however
if another unit comes available sooner, I'm first on the waiting list.

If this sounds good, please e-mail lindae@netcom.com
I would appreciate a brief description of your current situation or what
you are looking for in a roommate.

Thanks,
Linda
lindae@netcom.com
From: dfavor@logan.tivoli.com (David Favor)
Newsgroups: misc.invest.real-estate
Subject: Re: Selling your own home
Date: 28 Sep 92 14:29:04 GMT
Article-I.D.: tivoli.4542
Organization: TIVOLI Systems, Inc.

John:
>Actually it all sounds like real estate salesperson propaganda to me.

maybe... Charlie would you respond to this. are you a licensed Agent
or Broker?

>It's doesn't take a genius to come up with a fair price for a home.
>All the relevent information is easily available.

your statement sounds good. I agree that anyone can go to the courthouse
and secure the deed records to ascertain loan terms (I do this myself if
I think someone is misleading me. I must admit the shocked look on someones
face when their deed is produced during negociations is well worth a trip
to the courthouse. :-) but without the ability of speaking with the listing
and selling agents how will you determine if a comparable property was sold
between relatives or the seller was in some way distress? sale between aquainted
parties of parties under duress must be considered when creating an appraisal.

in fact the information required to determine a comparable price is fairly
complex. I've spent about 40 hours with an licensed appraiser and I am
amazed at all the avenues of information he draws on to formulate an
appraisal. I doubt many FSBOs are aware of how this process works.

> If the house is
>truly unique, and comps generally don't apply, a few other opinions
>(including a pro appraisal) may be in order.

an appraiser considers every property unique, even a tract home because
structural issues, market issues (at time of sale) and terms of sale must
be considered on all properties of like kind. this is one of the advantages
to using a licensed professional. for most properties a comporable by a
Real Estate Broker or Agent is sufficient. Professional Appraisers usually
don't deal with residential property because the returns are to low... or
at least the Appraisers I've met deal strictly with commercial and high dollar
residences. it will be a while before I can afford their services. :-)
Newsgroups: misc.invest.real-estate
From: bobk@sequent.com (Bob Krull)
Subject: Re: Book on Exchanges
Organization: Sequent Computer Systems Inc.
Distribution: misc
Date: Tue, 6 Oct 92 19:24:13 GMT

In article <AJG.92Sep29071028@sp1.ccd.harris.com> ajg@controls.ccd.harris.com (Arnold Goldberg) writes:
>
>Has anyone read any good books that describe how to do tax-deferred
>exchanges (the kind where you trade like-kind property for like-kind,
>not the step-up exchange... I forget which is which, 1034 or 1031).
>
>Anyway, I'm selling one of my houses and I'm trying to preserve some of
>my capital gains.  
>

No book Arnold, but what you are describing is a 1031 (or "starker") exchange.
As I have previously posted, this applies to all sorts of investment
property, not just real estate.  The "like kind" requirements are
quite broad.  You can exchange almost any sort of investment real-estate
for any other sort of investment real-estate.  What you can't do is
trade real-estate for, say, investment coins or antique rugs.

-Bob
From: cctat@othello.ucdavis.edu (Ivars Balkits)
Newsgroups: misc.invest.real-estate
Subject: Re: Selling your own home
Date: 29 Sep 92 19:41:25 GMT
Organization: Information Technology, UC Davis


I wonder if anyone on this list has any advice for me regarding appraisals
and appraisers. We started (in agreement with our realtor) at $164,500 as
our asking price. To date we've had two offers, both $25,000 below the
asking price. We had already dropped to $159,000 when we got an offer of
$139,500 from another _realtor_ who wants to add on to the house, etc. We
went to $150,000 firm.

Okay, that's just background. Now countering our firm counteroffer, this
realtor offered to buy the place if we would agree to have two appraisers
(one paid by us) to determine a a price. She, the realtor, said she would
go with the higher appraisal. We said we didn't have the money on hand to
pay for an appraisal now... she offered to pay for one appraiser that we
picked out. We talked this over with a realtor friend of ours in an
other city... she said we shouldn't agree to an appraisal until our offer
is accepted -- because loan appraisers will generally go along with an
asking price if the deal is set and the figure is not too far off from
their estimation of the property's value. On the other hand, if the sale
is not certain, the appraisal will be conservative.

Does that jib with your knowledge of the way appraisals work? Were we 
right to refuse this request for an appraisal before hearing asecond
counteroffer?

Thanks for any info you can give me.

Ivars
isbalkits@ucdavis.edu
From: drb@druhi.ATT.COM (BurrittD)
Newsgroups: misc.invest.real-estate
Subject: Re: MLS access
Date: 6 Oct 92 15:59:41 GMT

in article <4791@tivoli.UUCP>, dfavor@logan.tivoli.com (David Favor) says:
> 
> Deyoung:
>>Does someone know how I (without a real estate license) can access the MLS to
>>search for house for sale in the market?  Is there a place to register for
>>this access with some fees?
> 

Just a thought, why don't you check out the dumpsters around a 
real-estate office on the day the new MLS books come out.

Don't know what they do with the old books but they come out every week.

and NO I have never done this (in case you were wondering).

Dave Burritt
Newsgroups: misc.invest.real-estate
From: chansze@ecf.toronto.edu (CHAN Sze Keong)
Subject: some simple questions
Organization: University of Toronto, Engineering Computing Facility
Distribution: can
Date: Fri, 2 Oct 1992 16:22:11 GMT

hi, i am a real novice in this, so i hope someone can help :

1) when i buy property do i pay an my agent , both agents or does the seller
   pay both agents ? 

2) will this be included in the price ?

3) do the negotiations go face to face or through an agent ?

4) how long is the negotiations ? 1day 1week ??

5) when is the best time to look for property ? i mean that since rates
are low this is the best time but is fall better than winter ??

6) is an agent neccessary ? can i get property listings by myself ?
   if so where can i get them ?


thanks in advance.
dennis
From: deyo@hong.Eng.Sun.COM (Deyoung Hong)
Newsgroups: misc.invest.real-estate
Subject: MLS access
Date: 28 Sep 1992 22:17:56 GMT
Organization: Sun Microsystems
Distribution: world
Reply-To: deyo@hong.Eng.Sun.COM
NNTP-Posting-Host: hong.eng.sun.com

Does someone know how I (without a real estate license) can access the MLS to
search for house for sale in the market?  Is there a place to register for
this access with some fees?

I'm looking for a particular house but getting tired of talking to agents.

Also, do you know what's the advantage/disadvantage between older homes with
crawl space and newer homes on concrete slab foundation?  Which year did
the builders switch from crawl space to concrete slab?

Thanks,
deyo


Newsgroups: misc.invest.real-estate
From: bucm000@uxa.ecn.bgu.edu (Trena Norris)
Subject: c.sheets
Organization: Educational Computing Network
Date: Mon, 28 Sep 1992 16:17:39 GMT

Has anyone completed Carlton Sheets materials on real estate?  Has
anyone been successful with these materials?

Frankly speaking, I have 3 properties right now, but not by going
through any get rich real estate courses.  I acquired them buy having a
natural interest of reading the real estate ads everyday and going out
to see different properties.  My success merely came with building a
good relationship with real estate agents (very important), because they
will let you know about properties before they are advertised.

I was especially interested in Carlton Sheets because he his literature
focuses around no money down tactics.  Until this day, I have acquired
all properites with some money.  First, deal cost me $1,800 , and well
spent.   REPLACE THIS LINE WITH YOUR TEXT
Newsgroups: misc.invest.real-estate
From: edwardz@ecs.comm.mot.com (Edward Zhong)
Subject: Re: Reducing downpayment for investment
Organization: trunking_fixed
Date: Mon, 5 Oct 1992 17:04:19 GMT

In article <manzwxg@rpi.edu> mickim@aix.rpi.edu (Mark Mickiewicz) writes:
>Does anyone have any good advice for reducing the size of a downpayment on
>an investment property. Currently, the banks are asking 25%. I know that it
>is great to find a good assumable mortgage, assume it, and maybe have the
>seller take a note for the rest, but are there any other ways of doing it?
>
>Also.. If I get an FHA owner occ. loan, and live in one of the units, what
>happens when I move out.. and what if I move out in , say, 3 months?

if the property is a 4-family(all less) resident house, you can reduce the
down payment requirement by promising to live here for at least 1 year. the
downpay can be as low as %5. if the preperty is classified as comercial, then
at least 20% down is required.

FHA only finances up to a 3-family house, the downpayment can be as low as 3%.
you have to live the house for a year. if you don't, the bank can sue you,
in case of FHA, the fed will sue you. don't play fire, one year is very short
for your investment.

by the way, if don't have 25% downpayment, you can not afford the property. it
is silly to think your investment will have 25% or better return.


-- 
=================================================================================
Ed Zhong, Motorola Inc. (LMPS)      |  my money works for me;
edwardz@ecs.comm.mot.com            |  i work to make my money work for me.
From: vandyke@viper.cs.unm.edu (Jeff VanDyke)
Newsgroups: misc.invest
Subject: Electronic list of ticker symbols?
Date: 3 Oct 92 23:36:04 GMT
Article-I.D.: viper.BvKK83.1EF
Distribution: usa
Organization: Computer Science Department, University of New Mexico

I'm sure this has been asked before, but for lack of an FAQ...

Does anyone out there have an electronic list of ticker symbols
for NYSE, NASDAQ, and/or AMEX ?

Thanks in advance.

--Jeff VanDyke
  vandyke@unmvax.cs.unm.edu
Newsgroups: misc.invest
From: ohumukin@spectra.com (Kawika Ohumukini)
Subject: Re: How saturated is the market for Windows?
Organization: Spectragraphics Corporation
Date: Wed, 30 Sep 92 16:40:14 GMT

In article <1992Sep30.071415.1862@cs.sfu.ca> mcdonald@cs.sfu.ca (Ken Mcdonald) writes:
>
>Anyone have numbers on how successful Windows penetration of the IBM/clone
>market has been?  In particular, out of those machines which have the
>ability to run windows, how many have already been so equipped, and
>how many have yet to change over?
  
	I'm not sure of current numbers but the estimated windows
	sales as of about 6 months ago was around 3.2 million units.
	If that rate maintained itself from it's initial conception
	it must be around 4 million units sold.

	As for equipped do you mean windows sold with the computer or
	computers 'hardware capable' of running windows?

	Windows is so cheap now that anyone can buy it and install it
	with the proper memory size (around 2 meg minimum).  And since
	the '286 is effectively incapable of usefully running windows
	nearly all computers sold today ('386, '486) will be capable
	of running windows.

	Kawika 
Newsgroups: misc.invest
From: okuyama@pioneer.arc.nasa.gov (Darin Okuyama YR)
Subject: program trading curbs and other curbs
Summary: program trading curbs and other curbs
Keywords: curbs
Organization: NASA Ames Res. Ctr. Mtn Vw CA 94035
Date: Tue, 6 Oct 1992 19:50:24 GMT

Does anyone know all the curbs that are in place on
the various equity markets.  I think there are four
or five, but I don't quite remember exactly what
they are.  This is a summary of what I know:

  -- at +/-50 Dow points something happens
  -- at +/-12 S&P points soemthing happens
  -- at +/-100(?) points ...
  -- at +/-200(?) points ...

Can someone tell me the actual numbers and what
exactly happens when they are triggered.

Darin Okuyama
NASA Ames Research Center

Newsgroups: misc.invest