This week’s crazy building is the Blue Mosque in Istanbul, Turkey. Also called the Sultan Ahmed Mosque, this extraordinary structure was completed way back in 1616. It has a capacity of  an incredible 10,000 people, and also contains a hospice, a religious school and the tomb of its founder. The mosque’s six minarets were a source

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Question: “My wife and I want to buy a little house as an investment. We found one we both like, but it’s on a busy street. What do you think about buying a home on a busy street?” Answer: Two questions come to mind: 1) how does it impact rent, and 2) how does it

Question: “We listed our home 3 months ago. Even though our agent is with a big company and seemed very professional, he’s terrible. He’s made several big mistakes (wrong # of bedrooms and square footage on the flyer, etc.) and isn’t doing what he promised. Also, the price he recommended was way too high, which

Question: (From clients whose home I sold in San Diego.) “We found some serious structural damage to the addition of the home we just bought here in Texas. Kelly and I would appreciate your opinion given your expertise in real estate. We were told the addition was permitted but can find no documentation of it.

This week’s crazy building is Dolomitenblick in Sesto, Italy. Built in 2012 and consisting of six holiday homes, Dolomitenblick is set on a hillside to face the sun and the Dolomite Mountains. With a name that literally means “view of the Dolomites,” this apartment building boasts some spectacular vistas, but that’s not what makes it

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Question: “Hi Gary. I want to sell my triplex and was wondering how you handle showings with the tenants?” Answer: Typically, once you move from single family to multiple units, the showings are handled as “show with offer.” This is done for two reasons: Out of fear that if the tenant knew the property was

Question: “My home was appraised a couple of months ago for $725,000. What price do you think we should ask?” Answer: It depends on what your home is worth. But wait a second… You just had it appraised for $725,000, so that’s what it’s worth, right? Not necessarily. Check out the example I’ve reproduced to the right.

Question: “There was a house I liked, but I dithered and someone else got their offer accepted. The sold sign is up, but when I called the agent, she refused to tell me what it sold for. Is that normal?” Answer: Yes, that’s normal. Until the sale closes escrow, it could always fall through and

This week’s crazy building is the Pufferfish Tower in Yangzhong, China. The 15-story observation tower was built for over $11 million. And perhaps more notably, it is essentially a gigantic copper puffer fish. Constructed on an island on a riverbank in Yangzhong County, it’s made from roughly 8,900 interlocking copper plates. The tower is claimed

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How Much Do Property Managers Charge?

Thursday, 28 August 2014 by

Question: “I just inherited a couple of rental properties from my dad and don’t want to manage them myself. Can you give me an idea of what property managers charge?” Answer: Happy to. Depending on the property, managers usually charge 5-10% of the rent. Of course, that’s for their services only and doesn’t cover expenses