First Time Home Buyer Questions To Ask When Buying a New Home in A New Development
A first time home buyer wonders what questions he and his wife should be asking when looking at a new development of townhomes. All buyers want to go to the table prepared, but first time home buyers need to be especially careful to do their research. Here as some new home buying tips you should…
Earnest Money and Seller Disclosure: Contract Must Be Signed To Be Valid
If you put down earnest money or a down payment on a home and you have a seller disclosure issue, you better make sure you have a way to get out of the contract. If the seller disclosure form failed to disclose mold in a home, and you signed a contract to buy the home, you should have the right to…
Selling A House In A Down Market May Mean It Is A Good Time To Buy A Home
A 64 year old reader is hoping to retire and move to live closer to her children. She wants to move into an age-restricted community, where the home prices have gone down. But her house is also worth less. She wonders selling her house in a down market might also mean that it is a good time to buy a…
Hire a Home Inspector to Identify a Former Meth house Before You Buy
Is the home you plan to buy a former meth house? It's hard to spot homes that have been used as a methamphetamine lab (meth lab or meth house as they are they are called). But there are some tangible signs of a former meth house that you can watch out for as you tour a prospective home. This story…
Home Ownership Costs: The True Cost of Owning and Maintaining a Home
What are the true costs of owning and maintaining a home. If you're preparing a budget, you need to factor in these cost of ownership. Not only will you have to replace fixtures, appliances, and carpet, but you'll need to change filters, batteries and smoke detectors regularly as well. Landscaping…
Lawsuit May Be Only Way Out Of Real Estate Ownership Dispute With Family Member
Buying or owning real estate with family can be tricky. What can you do if when one family member stops contributing and won't agree to sell. If the co-owner won't ultimately agree to be removed from the title to a home on whose mortgage he's made no payments, it may be necessary to file a partition…
How to Qualify For The 2009 $8,000 First Time Home Buyer Tax Credit
Because the federal government approved a $7,500 first time home buyer tax credit for 2008 and an $8,000 first time home buyer tax credit for 2009, and each tax credit has different rules, there has been some confusion for home buyers as to which loan must be repaid. Here's how to qualify for the…
Fighting Property Taxes When House Values Drop: Tax Sale Home Purchase
Even if you buy a home through a tax sale or sheriff's auction, you may still need fight your property taxes. Determining what your property taxes may be after you purchase might be difficult. If after you investigate, you might decide to fight your property taxes to get them reduced.
$8,000 First Time Home Buyer Tax Credit Relief: New Construction Completion Date Is Key
The 2009 $8,000 first time home buyer tax credit has been a relief for many first time home buyers. But if you're building a home, you need to know that the critical date to qualify for the tax credit is the date the home is completed and you can move into it as your primary residence. That's the…
If Kate Middleton and Prince William Shop Online For A House, Shouldn't You?
Kate Middleton and Prince William were spotted looking at luxury $5 million homes near Malibu, California. Are the happy couple moving to the U.S.? It's a new-age house-hunting fairy tale. But it certainly begins with shopping online for a house. If Kate Middleton and Prince William shop online to…
Cancellation Of Contract Possible Due To Undisclosed Homeowner's Association
The homebuying process is full of surprises. Some homebuyers will find out that a home they are looking to buy has title defects, construction defects or, as in the case of this reader, the home to be purchased belongs to a homeowner's association. When a buyer is faced with these surprises, the…
Home Buyer Closing Costs Updated
Now more than ever, buyers need to be aware of buyer closing costs on the purchase of a home. Here's an updated detailed look at many of the closing costs you might have to pay as a buyer when you buy a home. If you are charged a closing cost that isn't on this list, please add it in the comments…
Why Michael Jackson, Angelina Jolie, and Other Celebrities Rent Houses Instead of Buying Homes
Why do celebrities like Michael Jackson and Angelina Jolie rent houses instead of buying homes? In some cases, they sometimes rent even while they own one or more houses around the world. For the most part, we tie big-name celebrities like Michael Jackson and Elvis Presley to the estates they owned…
Why Celebrities Like Michael Jackson and Angelina Jolie Rent Houses Instead of Buying Homes
Why do celebrities like Michael Jackson and Angelina Jolie rent houses instead of buying homes? In some cases, they sometimes rent even while they own one or more houses around the world. For the most part, we tie big-name celebrities like Michael Jackson and Elvis Presley to the estates they owned…
The More Things Change, The More Things Stay the Same, Location, Location, Location
In the new world of real estate there are many changes to keep track of, but there are also some key parts to the home buying process that haven’t changed. Real estate agents are still a good deal for home buyers. You’ll get the best home loan rates and save money if you shop around. Home repair and…
Is The American Dream Of Homeownership Changing?
According to a recent survey from the National Foundation for Credit Counseling, the traditional American Dream of owning your own home may be changing. According to the survey, almost half of Americans don't think owning a home is a good way to build wealth and almost one-third don't think they…
Survey Shows Changing Attitudes Toward Being A Homeowner
In the midst of the housing crisis, Americans' attitudes toward homeownership is changing. Being a homeowner used to be thought of as a safe way to build your personal wealth. According to a recent survey, almost half of Americans don't think owning a home is a good way to build wealth, and almost…
Federal Housing Finance Agency's James Lockhart - Questions and Answers
What's the latest on streamline short sales, loan modifications, and loan refinancings? The Federal Housing Finance Agency's director James Lockhart took questions at the recent National Association of Real Estate Editors meeting about these topics, as well as FHFA's multi-family housing policy…
Signs To Watch Out For When The Housing Market Is Recovering
Ilyce says there are four ways to know when the housing market is recovering:
1. The proportion of home buyers and sellers evens out;
2. Home prices stop falling;
3. Home price start rising;
4. Home buying activity increases.
Are you seeing changes in your local real estate market? What would be a…
Appraisal Report: How to Know When the Housing Market is Recovering
How can you know when the housing market is recovering? The housing market crisis has to do with supply and demand being out of whack. At the moment (in 2009), there are too many sellers and not enough buyers. Fixing supply and demand is key, but there are many factors that go into supply and…
Bidding Above The Listing Price For A New Home
You know that the real estate market has hit bottom when buyers are starting to bid above the list price for homes. With the large number of homes on the real estate market, real estate investors and first time home buyers are looking at the best priced homes. At times, bidding wars arise and homes…
Canceling A Contract When The Numbers Don't Match
Generally when people buy homes, they don't buy them on the basis of the number of square feet the home has. If the square footage of a home is important, the parties to that transaction need to make sure that they know and understand how the square footage of the home is computed and what happens…
Moving And Applying For A Mortgage Without A Job
If you are moving to another state, and looking for a new job, wait until you have found that new job before applying for a mortgage and buying a new home. In the current economic crisis, lenders are more cautious about approving mortgage loans. Lenders will require extensive documentation and will…
What Is A First Time Home Buyer
Even if you have purchased a home in the past, you can still be considered a first time home buyer. In particular, if you are looking to take advantage of the $8,000 first time home buyer federal income tax credit, you might be in luck. To qualify as a first time home buyer for the tax credit, you…
Senator Proposes $15,000 Tax Credit For All Home Buyers
What would it take to motivate you to buy a house? U.S. Senator Johnny Isakson, R-Ga., thinks you need the push of $15,000.
Yesterday Sen. Isakson introduced legislation that would expand the first-time home buyer tax credit to all home buyers, and it would increase the maximum credit to $15,000.
I…
