First Housing Price Increase in 3 Years!

Nationally, home prices increased in February 2010 for the first time since 2006. Part of the increase can be attributed to the tax credits to homebuyers and pent up demand.

The Case-Shiller home price index, released on Tuesday, revealed a tight 0.6 percent gain.  Of the 20 cities tracked by the index, 11 showed continued declines.  The South Florida Metropolitan Area (Miami-Fort Lauderdale) saw a decline of a bit less than 0.4 percent.  This indicates that there are still bargain properties available.  There is a light at the end of the tunnel.  The South Florida market typically trails the California markets by about a year.  The three California markets

What to Do If a Contractor Puts a Lien on Your House

Here’s a scary thought: Imagine you’ve just completed a home improvement project and paid the contractor in full for the work. Next thing you know, one of his subcontractors puts a lien on your house—a legal claim against your property that could force your house into foreclosure within a year to pay the debt if you don’t write a check yourself. Turns out the general contractor skipped out without paying the subcontractor, who’s now trying to collect his bill from you. The general contractor can also file a so-called “mechanic’s lien” if you haven’t paid him, even if you’re unhappy with his work.

 

What to do if this happens to you

 

A contractor will usually warn you before he files the lien and it’s worthwhile to either pay the bill (if he’s right that you owe it), negotiate a settlement (if there’s truth in both sides’ claims), or try to work it out somehow before he files the lien. If you can’t, and he drops a mechanic’s lien on you, here’s how to respond—and how to protect yourself from ever receiving one to begin with: