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Letting Go – Inherited Real Property

By Joe Theriault | Jan 3, 2017 | 0 Comments
Higher emotional value

“A man’s Self is the sum total of all that he CAN call his, not only his body and his psychic powers, but his clothes, and his house, his wife and children, his ancestors and friends, his reputation and works, his lands, and yacht and bank-account.” –          William James If that statement was true a…

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Is Leasing Inherited Property Just A Temporary Solution?

By Joe Theriault | Dec 23, 2016 | 0 Comments
Dealing with inherited property

The local real estate rental market is benefiting from the strength in the statewide sales market. According to the New Hampshire Housing Finance Authority, median rents for two-bedroom apartments in the Granite State inched above $1,200 per month. That’s 15 percent higher than they were in 2011. Low vacancy rates of under 2 percent –…

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Massachusetts Lawmakers Consider Additional Housing Standards

By Joe Theriault | Dec 11, 2016 | 0 Comments
Housing Standards

A proposed measure would require real estate sellers in the Bay State to provide energy audits of the inherited real estate that they sell. Consumer and housing groups say the bill is a good idea. “Buyers need to avoid being duped into buying a ‘money pit,’” urged the Massachusetts Affordable Housing Alliance and a few…

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Dealing With Inherited Real Estate That’s In Foreclosure

By Joe Theriault | Dec 10, 2016 | 0 Comments
Real Estate New England

The loss of a loved one is devastating enough, but when that loss is coupled with the prospect of losing the family home, inherited real estate, which is typically the most valuable asset in these situations both financially and emotionally, the burden can almost be too much. Massachusetts is a non-judicial foreclosure state. In many…

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Foreclosure Rate Going Up Again In Bay State

By Joe Theriault | Nov 1, 2016 | 1 Comment
trend-line-foreclosure-rates

The lingering effects of the Great Recession, and the fact that many homes are still underwater, are driving the foreclosure rate in Massachusetts back up. Some observers contend that the continued rise really is a backlog of cases. Three times in the last ten years, Massachusetts lawmakers enacted foreclosure relief measures, such as giving homeowners…

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Home Sales Dip in Massachusetts

By Joe Theriault | Oct 6, 2016 | 0 Comments
rental-houses

Massachusetts Home Sales are Down For the first time in 14 months, fewer inherited homes are being sold in the Bay State. According to the Massachusetts Association of Realtors, there were 5,799 residential closings in July, which is 14 percent below the July 2015 mark. At the same time, average prices for single-family homes edged…

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Prince’s Estate: Minnesota Judge Removes Most Would-Be Heirs

By Joe Theriault | Sep 28, 2016 | 0 Comments

Update: Prince’s Estate in Probate The dreams of fame and fortune turned out to be short lived for 29 people who claimed to have a lawful share of Prince Nelson’s legacy. Carver County District Judge Kevin Eide disallowed the claims of eleven reputed siblings, five alleged children, and thirteen purported cousins/nieces/nephews. At the same time,…

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Is a Cash Sale Right For Your Inherited Property?

By Joe Theriault | Sep 14, 2016 | 1 Comment
money-and-bills

When most people buy cars, they start by doing research on the vehicles available and weighing their options as far as price and financing are concerned; they do not rush to their local Ford or Toyota dealer without first thinking through the process, because the salespeople at these dealerships are only interested in selling the…

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Emotional Issues in Selling Inherited Property

By Joe Theriault | Sep 3, 2016 | 0 Comments
nice-landscaping

Nearly all residential real estate transactions involve both a financial and an emotional component. For example, a motivated seller might take less money and a needy buyer might be willing to pay a little extra. But where inherited real property is concerned, the emotional factors are often much more prevalent. Strong emotional attachments are the…

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More People Putting Off Wills and Trusts, Hurting Heirs of Inherited Property

By Joe Theriault | Aug 24, 2016 | 1 Comment
will-and-testamen

The latest numbers are in, and they are not good for potential heirs in Massachusetts. According to a June 2016 Google Consumer Survey, less than 29 percent of Americans have up-to-date wills. The rest either have no will at all (63 percent) or have one that is so outdated that it is basically useless (9…

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