December 14, 2007
- How to Determine a Home's Value
How to Determine a Home's Value
Property values are falling in many markets, balancing out some inflated markets and making home values a little more realistic. This has some sellers worried. While they might not make as much money on a sale now as they would have a year or two ago, it doesn't mean the [...]
December 7, 2007
- Mistakes Buyers Make in a Down Market
Mistakes Buyers Make in a Down Market
With plenty of homes on the market, prices falling and mortgage rates down, it appears to be a great time for house hunters. But even in a buyer's market, buyers can, and often do, make expensive mistakes.
You need to do your homework. Know your market!
While there are bargains to [...]
December 2, 2007
- Home Buying: Refinance or Buy New?
Home Buying: Refinance or Buy New?
There seems to be a crossroads that many homeowners reach after being in a home a few years: should you refinance your current mortgage or buy a new home?
If you feel your current home will serve your needs for at least 3 more years, stay put. If your financial situation [...]
November 28, 2007
- Home Buyer Incentives? Doesn't Hurt to Ask
Home Buyer Incentives? Doesn't Hurt to Ask
In a seller's market, a prospective home buyer needs to be a little more cautious when negotiating a purchase; however, in today's buyer's market, incentives are an accepted part of the deal. It certainly never hurts to ask for incentives, but be careful not to get carried away to [...]
November 27, 2007
- Townhouse or Condo: Which is Better?
Townhouse or Condo: Which is Better?
The confusion comes because a town house, which is simply a multi-story, attached residence, can be owned one of two ways — either with or without the lot. If the developer includes the town house's lot in the sale, ownership is "freehold" or "fee simple," just like most single-family detached [...]
November 22, 2007
- Buying Foreclosures: Things You Should Know
Buying Foreclosures: Things You Should Know
If you're considering buying a foreclosed property, there is a lot you should know if you have never done it before. Yes, there are a lot of great deals in the market these days, but there are different stages of foreclosure and the more you know, the more you [...]
November 20, 2007
- When NOT to Buy Real Estate
When NOT to Buy Real Estate
Most people would probably think a real estate agent writing about NOT buying a house now must mean the agent has either lost his/her mind or is independently wealthy. But, I believe there are a few times when the decision to buy real estate should be put on hold. I'd be [...]
November 16, 2007
- Buying After The Sub-Prime Crunch
Buying After The Sub-Prime Crunch
The days of getting a quick easy mortgage are clearly over. A year ago, mortgage money was flowing. Predatory lenders signed people up for mortgages without paperwork, gave out loans that covered 100% of the home's value and weighed them down with outrageous payments that exceeded their income. The subsequent fallout [...]
November 10, 2007
- Homeowner Associations: Good or Bad?
Homeowner Associations: Good or Bad?
Often times home buyers don't fully realize the trade-off they're making when they move into communities that involve becoming association members. More than 57 million people belong to associations governing everything from large and small condominium developments to subdivisions of single-family homes.
Associations provide valuable benefits including, say, landscape maintenance and access [...]
November 3, 2007
- The Subprime Mess: What it Means to You
The Subprime Mess: What it Means to You
The bad news about the housing market seems never ending: Foreclosures have more than doubled over the past year. Whether you're a home seller, owner or buyer, by this point you've got to be feeling a little rattled.
All that has happened before problems in subprime lending expanded throughout [...]
October 21, 2007
- What's Causing This Slump?
What's Causing This Slump?
It's no secret that real estate is experiencing a market slump; in fact sales are lower than they've been in 16 years. Wall Street economists compile a seasonal market forecast; a rating higher than 50 indicate a positive market. The current forecast was only 30 and has remained below 50 since may [...]
October 18, 2007
- Do You Need a Home Warranty?
Do You Need a Home Warranty?
A home warranty is not much different from a warranty you might have on your car, your computer or your home entertainment center. A warranty on your home usually covers all of your home’s major mechanical systems, including hot tubs, pools, wells, septic tanks and all of your appliances. [...]
October 16, 2007
- Buying a Home - How to Get the Best Deal
Buying a Home - How to Get the Best Deal
Balance is found in nature and the real estate market is not exempt from this. It was only a matter of time until the strong sellers' market swung back to buyers. We seem to be at the beginning of a great buyers' market as desperate [...]
October 14, 2007
- Better to Buy a House in Columbia Than to Pay Rent?
Better to Buy a House in Columbia Than to Pay Rent?
That depends on when you buy, and how long you own. Buy at the wrong time — like during the kind of buying frenzy that much of the country has just experienced — and you could well end up wishing you had rented instead.
Boom [...]
October 12, 2007
- Shopping for a Home in a Buyer's Market
Shopping for a Home in a Buyer's Market
The housing market now belongs to the buyer. Home sales and prices sagged in 2006, and 2007 has not been much different. Don't limit yourself. While you should look for homes that are listed with real estate agents, don't discount properties that are for sale by owner. In many markets [...]
October 7, 2007
- Don't Bite Off More Than You Can Chew
Don't Bite Off More Than You Can Chew
Your accountant might advise you to take out as large a mortgage as possible because the interest is tax-deductible. However, even though it's deductible, mortgage interest still has to be paid, and payments on a large mortgage could leave you short of cash that you'll need for other [...]
September 30, 2007
- The Real Cost of Relocating
The Real Cost of Relocating
There's good reason that relocating ranks alongside divorce as one of life's most stressful events: It's expensive. Even if you're moving for a higher-paying position, your spouse may have to quit a job and look for a new one, which could pummel your household income.
You might be forced to sell into [...]
September 24, 2007
- Three Mistakes New Homebuyers Make
Three Mistakes New Homebuyers Make
Although the list of mistakes new homebuyers tend to make could fill up this entire page, there are three that seem to stand out among all as being the most frequent mistakes made.
The first mistake people often make is to purchase a new vehicle right before they start looking for a [...]
September 19, 2007
- Is Now A Good Time to Buy a House?
Is Now A Good Time to Buy a House?
One reader wrote in recently to ask us, "…if they should buy a home now or wait in case prices fall lower."
Indeed, recent data on the housing market paints a stark picture. Home prices are declining in many regions nationwide. Last month the National Association of Realtors [...]
September 5, 2007
- Steps to Consider Before Even Looking for Homes
Steps to Consider Before Even Looking for Homes
There are enough "home buyer tips" around to fill a dictionary sized book. Heck, our blog here is loaded with Home Buyer Tips…. but there are a few KEY tips to consider before you even go for that Sunday drive looking at homes, even on a "let's just [...]
