Real Estate Buyer's Articles

Following is a list of links to articles that can offer help when you're looking to purchase a house or other real estate. These articles will open in a new browser window. When you wish to return to the Bear Island Land Company site, just close the window and you'll return to this page.

Use Of Repurchase Agreement Is Growing
We are purchasing a newly created condominium unit in an upscale project. When the developer presented us with the sales contract, there was a document entitled "Repurchase Addendum." Is this a legal document? Benny L. Kass has the answer.

Selling And Moving For Investment Sake?
We are considering refinancing our home and using the money to begin buying and selling investment real estate. Our other option is to sell our home and move up to a larger, more valuable home. Which would be the best option for investment purposes?

Analyzing Real Estate So You Can Make Money
Investing in real estate is a tricky business, and like the stock market, every investment will not be a great one. What makes a great real estate investment is keyed as much to timing and interest rates as it is to the true operating costs of a property.

Construction Funding Disbursement Solution
The company we recently purchased our modular home from built and set the house wrong while working with our contractor. The bank and title company released all of our funds to our builder with no inspections to make sure the work had been completed correctly before funding. What can we do?

The Raison D'etre Of Real Estate
Raison d'etre (re-zon´ de´tr) is a French term that means: "The justifying reason for the existence of something." With that in mind, Bill Ball asks what is the purpose of home ownership? Is it to simply get the lowest priced house?

Limiting Purchaser Type Within Builder's Rights
I am considering buying a new condo as an investment property. The sales person told me that at least one of the people on title for the condo has to be living in it and buyers will be asked to sign an affidavit saying so. Can a developer do this?

Loan Limits Going Up
Effective Jan. 1, the limits on loans that can be purchased by secondary mortgage market giants Fannie Mae and Freddie Mac will be rising to $333,700, allowing up to 150,000 home buyers to benefit from somewhat lower financing costs.

Buying Houses Just One Way To Invest In Real Estate
There are plenty of ways to get into real estate investing. M. Anthony Carr offers some helpful one-line descriptions of how to get started along with the pros and cons of each alternative.

Buying? Twelve Red Flags That Should Raise Concern
If you're in the market for a new home and you look at ten previously owned houses, chances are at least four of them will have a minimum of one serious defect. Michele Dawson has the details.

Put Your Realtor To Work For You When Faced With Unexpected Closing Costs
Have you heard the horror story? You know, the one about the homebuyer showing up at closing only to see their closing costs hundreds of dollars more than the loan officer told them? Who is your first line of defense against such charges?

You Need To Have Goals For Successful Investing In Real Estate
Real estate has been one of the primary sources for investors to place their money for the last thousand years. There have always been investment opportunities for money lenders of all kinds, but real estate has been one of those investments which includes your home, and this is where the story starts.

Do You Need Title Insurance?
We will be refinancing our mortgage in the next few weeks. We purchased our home six years ago, and at that time purchased both owner’s and lender’s title insurance. Our new lender is also requiring title insurance. Why do we need to purchase it again? Benny L. Kass has the details.

Understanding The Lender's Perspective Is Important When Buying Real Estate
There are many different kinds of lenders, but the one thing they all have in common is their goal of making money. The desire for a particular yield, the availability of a secondary market to move the risk to, and the availability and cost of money to the lender will drive the pricing of the money they lend.

Limiting The Liability Of Home Inspectors
Less than two months after we closed on our home we discovered a number of problems that amounted to over $30,000 in damages. We presented these matters to the home inspector, but his response was that he was only obligated to return the money we paid for the inspection. Is there anything we can do about this?

10 Benefits Of Buying At The End Of The Year
With interest rates for 30-year fixed mortgages still hovering at around 6 percent, the end of the year is a great time for renters to become homeowners, growing families to move to more accommodating homes, and Baby Boomers to find houses that fit their ever-evolving lifestyles. Michele Dawson explains.

Mortgage Possible Even With Low Credit Score
The mortgage industry goes "deep and wide," meaning there's a program for almost everyone. One reader with a poor credit history wants to buy a condominium. Henry Savage says she's probably eligible for a mortgage if she's prepared to pay a higher rate.

You Can't Turn Back Time
Do you regret it? That you knew going in that it just wasn't right but you went ahead anyway? Did you make the wrong choice at the very beginning and now it's coming back to haunt you? Did you lie on your loan application?

Non-Resident Alien Needs A Mortgage
If you are not a U.S. citizen and live abroad, American lenders may balk at granting you a mortgage. Henry Savage explains.

How To Foresee Real Estate Market Trends
What's worse, a higher price on a property that may take a sudden downturn when interest rates return to a higher rate, or paying a lower price for the property when the market is down but paying a higher interest rate?

Sellers And Buyers Can Go One-On-One
Most real estate agents believe no harm can come from direct seller-buyer contact. Al Heavens takes a look at what buyer agency and sellers' disclosure have to do with this common belief.

Before You Start House Hunting, Begin Searching For Homeowners Insurance
Obtaining homeowners insurance is becoming increasingly difficult - and more expensive. Specific factors - like whether you have plaster walls, where your house is located, how close you are to a fire station and whether you have safety alarms - are among the many factors that will affect your rates. Michele Dawson explains.

What You Should Do Now If You Plan On Buying This Fall
If you're gearing up to buy a house this fall, then you'll want to use the next few weeks and months to your advantage and get yourself in the best position possible to land in a house. Michele Dawson explains.

Can You Get A Loan Without A Termite Inspection?
It was a simple question -- at least so it seemed -- that a reader raised with Ask Realty Times. The answer is "yes" -- but why aren't all homes checked for termites? Peter G. Miller explains.

Insured Electronic Home Valuations Cut Costs, Anger Traditional Appraisers
Discount-fee electronic property valuations--along with onsite inspections and insurance guaranteeing accuracy--offer consumers the prospect of appraisal charges 50 percent lower than traditional, full appraisals. Major lenders welcome them, appraisers bash them. Ken Harney reports.

An Explanation Of The Legal Documents Required In Buying A House
The title company that conducted my settlement says that they will retain the deed to my house in their files after I paid off my mortgage. They have sent me a copy, but refuse to release the original. Is that correct?

Investing In Rental Properties Can Be Risky
Owning rental properties is an easy way to get rich - so say the infomercials on late night TV. One young reader is intrigued by real estate investment. Henry Savage explains the pitfalls.

Don't Hesitate To Make A Low Bid To A Seller
I am a first time home buyer, and have been pre-approved for a $255,000 mortgage purchase. In my search, I have seen a number of houses in the $300,000 - $500,000 range in good, move-in condition. The problem I am having is where to start my offer.

First-Time Buyers: Tips for Landing a House When Prices Continue to Rise
It's been a mixed bag for first-time homebuyers this year. Interest rates continue to hover near record lows, yet home prices that continue to nudge upward can be discouraging when you're gearing up to buy. But with patience, diligence, and some flexibility, you can become a homeowner.

A Second Piece of the Action
Most first quarter second home buys were investment purchases as homeowners looked to shore up their weakened stock market portfolios with realty investments. Broderick Perkins explains.

The Chicken-and-Egg Question: Buy or Sell First?
With some markets heating up this summer, the question of whether to sell or buy first can leave some homeowners in a quandary. Michele Dawson explains.

Marriage Presents Real Estate Investment Opportunity
I have owned a condo since 12/21/01. I am getting married and I want to sell the condo. If I sell the condo before 12/21/03 is my gains penalty still 28 percent or will it be dropped to a lower rate? M. Anthony Carr has the answers.

Helping Your Children Buy Their House
As real estate prices throughout the country have been escalating in recent years, many young couples -- even with good income -- find themselves unable to come up with the necessary down payment to purchase a house. Benny L. Kass looks at some alternatives.

What You Should Know About Making an Offer
Making an offer on a house can be stressful, especially if you're buying your first house. But if you know the market in your region and you are conscientious in drawing up your offer, there's a better chance it will be accepted - and you'll be protecting yourself in the process. Michele Dawson explains.

8 Tips for Protecting Yourself When You Buy a House
If you plan on buying a house in the next few months, you're not alone. It's a huge investment, and you could be facing competition on your offers, which is why it's especially important to protect yourself - financially, legally, and emotionally. Michele Dawson explains.

HUD Acts to End 'Flipping'
In an attempt to curtail a practice that often sticks unknowing borrowers - and sometimes even Uncle Sam - with houses that are worth far less than what is owed on them, the Department of Housing and Urban Development last week said government-insured financing would no longer be available on properties that have been sold more than once within a 90-day period. Lew Sichelman has the details.

Property Survey Always Wise, Usually Required
At our settlement recently, a lawyer charged us $215 for a survey. When we questioned this charge, we were told it was a lender's requirement and we could do nothing about it. Just what is a survey?

The Art of House Hunting: 8 Tips to Help in Your Search
Once you're pre-approved for a mortgage loan, the fun part comes next - looking at houses. But be sure to leave your emotions at the door as you carefully weigh the strengths and weaknesses of each house against the needs of your family. Michele Dawson explains.

What's The Best Way To Take Title?
I have just signed a contract to buy a house. I plan to renovate it, and sell it at a profit. A friend has indicated that he would like to join me in this venture, and he is prepared to contribute half of the up-front costs. I am interested in having my friend as a business partner, but we do not know how to take title to the property. What’s your suggestion?

Top 100 Places To Live
Relocate-America.com, an online community directory, lets you choose the top 100 places to live based on what you think makes a community livable. Broderick Perkins reports.

Homebuyers: Get a CLUE About Homeowners Insurance
It used to be that purchasing homeowners insurance was a given - not anymore. Premiums are soaring and available coverage is lacking. If you're buying a house, make sure you and the house are insurable before the deal closes. Michele Dawson explains.

Finding a Good Home Inspector: What You Should Ask
If you're set to buy a house and are preparing for a home inspection, be sure you're not just going through the motions. A good inspection can save you from costly headaches down the road. Michele Dawson reports on what you should ask potential inspectors to ensure a thorough, professional inspection.

Was There Water Damage In The Home You Want To Buy?
With real estate, it is still buyer beware, and one of the things your Realtor will tell you to watch out for is any sign of previous water damage in the home you want to buy.

Buying a Fixer-Upper? House Needs to be in "Marketable Condition"
Buying a Fixer-Upper? Your mortgage company may not want to make a loan on a property that needs a lot of work, Henry Savage reports. Henry Savage explains.

As Is, Subject To, or Deferred Maintenance?
Deferred Maintenance vs. Subject To. Live it, love it, learn it. These terms are sometimes bandied about without much thought when getting a property appraised. But knowing the difference between the two and how it can make or break your deal may be your biggest concern when reading an appraisal.

Radon: What to Know Before You Buy a Home
If you're buying a home you already have a lot on your to-do list. But you'll want to be sure the house you're eyeing is tested for radon - too much can be deadly. Michele Dawson explains.

Questions Every Buyer Should Ask
When you're in the market for a home, it seems as if there are millions of questions to ask -- and no doubt plenty more. As buyers we become so wrapped up in the physical aspects of the house -- the rooms, amenities, and structure -- that we give less attention to quiet issues which may strongly impact our ability to enjoy a home.

Survey On Second-home Market Is a Revelation
Thinking about a second home? In 2001, nearly 6 percent of the record 6.2 million sales of single-family homes were of second homes. According to the most recent data, there were 3.6 million vacant seasonal homes in the third quarter of 2002, up from 3.1 million in 1990 and only 1.7 million in 1980, the U.S. Census Bureau said.

How Soon To Buy After Bankruptcy
Bankruptcies hit an all time high in 2002 and with homeowners still struggling to recover from this most recent recession, they may continue to climb in the next 12 months. Regardless if a recession is mild or severe, it’s always severe for the people who lose jobs and find it hard to recover before filing for bankruptcy.

First-Time Homebuyers: Tips For Surviving the Spring Frenzy
Spring brings out the sunshine, a rainbow of blooms - and a throng of eager homebuyers. Michele Dawson offers tips on how to stay a step ahead of the competition this season and ultimately become a homeowner.

How to Help Your Kids Adjust When You Move in the Middle of the School Year
Moving is hard enough for kids. But going to a new school in the middle of the school year is especially tough. Michele Dawson offers some tips to help your kids adjust.

Homeowners Insurance: Are You Really In Good Hands?
What if your house is harmed by a fallen tree and your insurance carrier wrongfully denies your claim to recover repair costs? In recent years, U.S. courts have been critical of some insurance company practices. As Stuart Lieberman explains, a case now before the Supreme Court may limit the rights of homeowners to a full recovery in the event their insurance company doesn't act like a good neighbor.

Forget Location, Timing Key To Real Estate Investing
If you're buying a house to live in, the three key aspects of real estate are: location, location, location. If you're looking to buy real estate as an investment, however, the three key aspects are: timing, timing, timing.

HADD Report: Home Warranty Coverage 'Extremely Limited'
Home warranties aren't necessarily deceptive. It's just that the service policies offer less coverage than many home owners believe, according to a grass roots consumer group's study.

Old Paper Work Can Be "Lien and Mean"
When a buyer takes possession of the house after settlement, they truly own the house. Some buyers think they don't own the house until the mortgage is paid off -- in reality, you own the deed to the house and land, but the lender has a lien on the house for a mortgage. Once the mortgage is paid in full, the lien is removed -- you hope.

Plan on Buying a Home Next Year? Then Keep Holiday Spending to a Minimum
Buying a home is stressful enough, but incurring all the related expenses as holiday credit card bills roll in can be overwhelming, not to mention harm your chances of obtaining a loan to begin with. Michele Dawson explains why it's important to keep holiday spending to a minimum if you plan on buying soon.

Keeping Peace With Your Live-In: Get a Written Agreement Before Your Buy
Within the next year, I will be purchasing property in the District of Columbia. The property and the mortgage will be in my name, but my boyfriend will be living in the property with me. Is there a domestic relations law that would allow the house to be split and sold if in the future, we should split up while we are both living in the property?

Second Home Buyers Prefer A Playhouse
A home just-for-the-fun-of-it drives most second home buyers to market, but the poorly performing stock market is hot wiring the investment property option. Broderick Perkins reports.

With The Winter Season Setting In, Many Agree - Now's a Great Time to Buy
Home buyers typically refrain from buying during the cold winter months, especially during the holidays. But with today's interest rates and a softening market, now is a great time to buy. Michele Dawson explains.

Dispelling the Myths that May be Keeping You From Owning a Home
A recent Fannie Mae survey reveals there are many misperceptions about what it takes to buy a home - misperceptions that may be keeping you from being a homeowner. Michele Dawson explains.

Can You Afford to Buy a House? Be Sure to Factor in All the Costs
Closing costs, PMI, down payment, homeowners insurance, home repairs - if you're considering buying a home for the first time, you'll soon be aware that it will cost more than just your monthly mortgage payment. Can you swing it? Michele Dawson provides some answers.

Repair of Home Defects Negotiable With Seller
Negotiating items from a home inspection is tricky business. Very quickly, a professional sales transaction can deteriorate to an argument likened unto a couple of pre-schoolers. “The roof needs replacing.” “Does not.” Does, too.” “Does not.” Does, too.” Etc., etc.

Low Rates Make Options Affordable
New-home buyers are spending more money on options than ever before. Considering the state of the economy, options bought over 30 years at 6 percent or even less don't look so expensive. Al Heavens reports.

Tips for Buying an Unbuilt Home
It sounds great on paper, but how can you ensure buying a yet-to-be-built home will be a success? Michele Dawson offers some tips.

Inspection is Important if You're Buying a Condo
You've always heard that a home inspection is an important step in buying a house. But what about when you buy a condo? Michele Dawson explains why it's just as important.

Housing Counsel: ABC Of Homebuying
I have been a renter for several years, and have decided that it is time to buy. I am looking for a condominium apartment, and have located several that interest me. I am a “babe in the woods” when it comes to real estate. What steps should I take to make sure that I am getting a good deal and that no one is taking advantage of me?

Buying Homes In High-End Markets
Buyers must pull out all the financial stops to get in homes in the nation's most expensive housing markets. Broderick Perkins reports.

Counting The Extended Cost of Homeownership
Can you afford to buy a home? The first person you’ll want to talk with about your qualification will obviously be a lender or real estate agent. Once you find out your buying power, then you need to calculate what new expenses you’ll have once you move out of the apartment and into your first home.

Rules of Engagement With Agents
I’m developing a business plan to purchase real estate as an investment. This will be primarily single-family homes that will either be rehabilitated, flipped or lease optioned. I have been in contact with a Realtor who wants me to sign an exclusive buyer’s agreement. Is there a particular advantage/disadvantage in limiting myself to one Realtor?

Make Sure All Systems Are Go When You Inspect Your Would-Be Home
You've finally found the perfect - or near-perfect - house. You've haggled, negotiated, and appear close to finalizing the deal. But first you'll want to hire a professional inspector - and then you'll want to do some inspecting yourself, including the home's major systems.

First Time Buyers: Don't Overlook a Home's Potential When House Hunting
If you're looking for your first home, you may automatically eliminate homes that don't appear to measure up. But don't cross them off your list so quickly - with a little imagination and a little work, you could come across your perfect home. Michele Dawson explains.

Location? Not! Timing? Sweet!
Forget the location-location-location sweet-spot approach to real estate buying. Timing is where it's at. Consumers who watch the real estate market like investors watch the stock market can buy and sell homes with the acumen of a shrewd day trader. But as day traders know, it's not quite as easy at it sounds.

Mental Illness Unnecessary Blockade to Homeownership
With no concept of the homeownership process, what are those afflicted with mental illness to do? M. Anthony Carr reports.

When Is A Buyer In Default?
We recently entered into a contract to buy our first home. Our contract contained two contingencies: 7 days in which to obtain a satisfactory inspection, and 30 days to obtain financing. We completed the inspection. However, there were a couple of blemishes on our credit record of which we were not aware, and now we have been rejected for a loan. We did not count the days carefully and our rejection came after the 30 days contingency period was over. Is our earnest money deposit in jeopardy?

What to Do If You Can't Get Homeowners Insurance
Purchasing and keeping your homeowners insurance policy is increasingly difficult these days. Premium costs are escalating at double-digit rates, many companies' renewal policies are tightening, some companies aren't even selling new policies in some states, and if you live in a wildfire- or hurricane-prone area, or have a history of numerous claims, getting insurance is sometimes a complicated - and expensive -matter.

A Second Home or Investment Property?
Lenders are suspicious by nature. If you plan on buying a home to rent out, don't tell the lender it's a second home for personal use. You'll probably get caught. Even legitimate 2nd home mortgage applications can be troublesome. Henry Savage reports.

Real Estate Creates Safe Haven For Your Money
When the stock market gets clobbered, like it has as of late, investors seek out safer havens for their dollars. Real estate, obviously, is at the top of the list. Unlike stocks, however, purchasing real estate is not as easy as clicking on a web site and transferring your stocks from one fund to another.

Home Owners Hit The Mother Lode
Thar's gold in them thar studs, mining it costs very little, the smelting process is quick and it's not likely to tarnish. As an investment, home ownership is gilded.

Tips for Finding the Perfect Neighborhood For Your Family
You've probably thought all about the perfect house, but what about the ideal neighborhood? That should be given as much, if not more, weight. Michele Dawson explains.

Tips for Buying in a Tight Market
With homes in some communities being snatched up as soon as they go on the market, the challenge continues to mount for buyers. But there are things you can do to be in the best position possible to make a strong offer. Michele Dawson offers some tips.

Condos Present Pool of Affordable Housing
If you’re a buyer in search of affordable housing for your first purchase, don’t overlook condominiums as an alternative to the highly touted 3-bedroom, 2-bath single-family house. In most areas, a condominium provides many of the benefits of homeownership without some of the home-care hassles.

Home Prices Out of Line With Incomes in 17 Markets
Housing prices in relationship to the income needed to sustain them are way out of whack in Boston, San Diego and Ft. Lauderdale, according to a new benchmark. Price also are out of line, though not as much, in 14 other places. Lew Sichelman has the story.

10 Steps To The Perfect Second Home
Second homes are ubiquitous. To help find the best location, a second home honcho hones in on ways to make the selection a breeze. Broderick Perkins reports.

Tips for Buying A Home When You're Single
With fewer homes on the market and an uncertain economy, fewer singles are buying homes. But by positioning yourself properly and doing your homework, it can be done. Michele Dawson explains.

Scrutinizing Your Home Inspector: What to Do If You Dispute the Findings
Although regulation of home inspectors is increasing at local, state, and national levels, it's still your job to oversee your home inspection and question anything that doesn't make sense. Michele Dawson explains.>

What's A Fixture?
For many people in the residential real estate business, questions often arise - from both landlord and tenants - regarding ownership of tenant's property that becomes "fixed" or "attached" to a part of the landlord's real property. Is there any clear cut definition of a "fixture"?

Finding A Home In The New Economy
A special index makes it easy to find communities where the "new-economy" rules, but it's up to you to decide if that's the place you want to call home. Broderick Perkins reports.

Second Homes Remain Sound Investment
Slow second home sales is a temporary market aberration signaling a good time to invest in another property. Broderick Perkins reports.

Rent Backs Can Backfire on Buyers2
Sometimes real estate transactions call for creative negotiations. Owner financing, seller subsidies, paying off a buyer’s debts, 100 percent financing are all creative ways of getting a buyer into a house who might not otherwise be able to buy without extraordinary moves.

Keep Buyers Needs And Wants In Balance
Buyers who can only afford smaller usually want to buy bigger. Builders and real estate agents have to help buyers remain focused but satisfied, too.

Don't Buy If You Can't Afford It!
Fortunately for sellers, today’s real estate market is absolutely crazy. Purchasers are in an auction mentality, offering to purchase at prices which are not only above the seller’s asking price, but in some instances are above the real market value of the property.

Debt Reduction Not Required In Home-Buying Preparation
I would like to purchase my first home in 6 months. A loan officer pulled my credit report a few months ago and I’ve almost paid off my bills. I have about another $4,000 in balances left on four accounts. Should I pay off my debt before buying a house?

You've Bought Your House - Now What?
After you buy a house, the fliers and solicitations will deluge your mailbox. Don't let these offers overcome common sense. Michele Dawson explains.

Inspecting Your Home Inspector
While most people (almost 80%) have their homes inspected prior to purchase, just who is it that is inspecting the inspector? We've all seen those hidden-camera stories of home inspectors missing major defects, glossing over major problems or finding problems that they then offer to fix (for a charge, of course).

Moving Up? What You Need to Consider to Accommodate Your Growing Family
The kids are small now, but your family's lifestyle and needs will change before you know it. Michele Dawson explains what you should consider as you move your family to a more accommodating house.

Rent-Back Agreements
If you plan on renting your home back to the sellers for a few months after settlement, you'd better check with your lender to avoid a last minute problem. Henry Savage explains.

Freedom From 11th Hour Closing Cost Surprises
A sophisticated new program supported by Fannie Mae and major lenders allows home buyers online access to their actual loan files, eliminating last-minute settlement-fee surprises. Ken Harney reports.

Keep Basements In Mind To Meet Future Space Needs
Buyers often need more space than they can afford to buy. Al Heavens suggests looking to the basement for a place to expand.

Price and Home Size Matter Far More Than Commute Times to Work or School
American home buyers rank home prices, neighborhood quality and spacious lot sizes as far more important to their choice of a new home than commute times to workplaces or schools, according to a new national study. Ken Harney reports.

Trying to Buy A "Diamond In The Rough"?
The paper said "diamond in the rough." Which means either it needs lots of work or perhaps just a little TLC. But exactly how "rough" can a house be before a lender decides the collateral is not healthy enough to issue a mortgage? And what happens if you want the seller to fix something before you’ll close the deal?

Buyer Strategies In A Seller's Market
Besides the common problems with a seller's market - not enough inventory and too many buyers - there's also the problem that a house can actually sell for too much. This can happen when a contract price exceeds an appraisal from the bank. When this occurs the buyer must come up with the difference or the seller must reduce the sales price down to the appraisal.

Buying a House? Check Out The Age, Condition Of Windows
Check out the windows when buying a house. Replacing them might be an expensive proposition once you’ve moved in, says Al Heavens

Don't Forgo Inspections As a Negotiating Tool
You really want that house, but you know there are multiple bidders. No matter how much you want the house, don’t waive an inspection as a negotiating tool.

How Energy Trends Impact Home Prices & Mortgage Rates
Political instability in the Middle East is raising fuel prices in the U.S. Peter G. Miller looks at the impact on real estate.

Negotiating Away Protections Not A Good Idea
In a competitive contract situation, I see buyers willing to give away many of the traditional protections they enjoy in a normal market environment. If a buyer finds himself in a bidding war, the collective wisdom is to make the contract as high a price as possible with as few contingencies allowed.

More On What To Do Before The Next Boom
A housing boom is coming this decade and it's caught the attention of real estate experts who have advice to offer consumers pondering what to make of it. Broderick Perkins reports.

In Love With Two Houses? What to Consider When Making the Final Decision
You've scoured the ads daily, looked at dozens of homes, and have finally narrowed your choice to the final two. How do you decide the tiebreaker? Michele Dawson offers some tips.

Lease Purchase Programs Come Of Age
New lease-option programs come with financial and debt management counseling, the ability to choose your home, and a feeling of home ownership even while renting.

The Next Boom Looms: What's A Consumer To Do?
Experts are torn over what consumers should do about forecasts for what could be the biggest housing boom since World War II. Broderick Perkins reports.

Using Online Systems to Track your Closing
Has your Title work been issued? Is your credit report in? Does the underwriter have your paycheck stubs? Where is your Survey? Good questions, yet hard to track down. But new online systems can help the consumer follow the transaction from beginning to end.

Torn Between Two Closings
The process of buying and selling a house is much like the Domino Effect. Everything get's lined up perfectly and when it's time to get things going, you just flip a switch and watch all the pieces fall into place.

How to Lose Your Shirt in Foreclosure Investing
If you have some cash itching a hole in your bank account and you’re looking for positive cash flow and possible high returns on investment, be sure to avoid these pitfalls in the foreclosure investor field.

Funds in Escrow: Whose Money Is It?
The dictionary defines the word "escrow" as "a deed, a bond, money, or a piece of property held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition."

Manufactured Homes Make Affordable Housing Option
Manufactured homes can be an affordable way to get into housing for first time or low to moderate income purchasers. M. Anthony Carr reports.

Avoiding The "Junk" Fees at Settlement
Every year, someone from the mortgage industry -- or from the Department of Housing and Urban Development -- issues a call for the elimination of a lot of the unnecessary fees which consumers have to pay at settlement. Unfortunately, very little ever comes from those calls.

Predators Target Manufactured Housing Consumers
A new Consumers Union study reveals a manufactured housing lending industry rife with consumer complaints about alleged abuses that could amount to predatory lending.

Lead Paint Still Haunts Older Homes
Lead paint was widely used in homes until 1978. While new types of paint have come into use, lead remains a concern. Al Heavens explains what you can do.

Condos Labeled 'Prime' Realty Investment
Condomania has hit the nation with record condo sales and condo price appreciation is beating new and resale single-family homes, but that doesn't mean the life style is for everyone.

Home Is Top Consumer Product
With $1 of every $7 of spending going into housing, the home is America's No. 1 consumer product. Lew Sichelman reports.

Browsing For Housing Bridges Digital Divide
The digital divide is less evident among home buyers who use the Internet and buyers browsing for housing also are younger, smarter and richer than those who don't.

Great Reasons to Invest in Real Estate
There are four major reasons that an investor might choose real estate for investment. Clifford A. Hockley reports on this growing trend.

Counseling, Home Ownership Improve Lifestyle
Studies show that with home counseling first-time home buyers often enjoy improvements in their financial status, better relationships with their neighbors and better neighborhoods.

How To Make Tax Time Less Costly
If you sell investment property you can face a hefty tax bill -- unless you have a tax-free trade. Benny Kass looks at "Starker" exchanges.

Freddie Mac Tries Lease-To-Own Program
Freddie Mac is trying a new approach to homebuying -- lease a property for 39 months, maintain good credit, and then convert to ownership with assured financing in place. M. Anthony Carr reports.

No Money Down For New Homes
A new program from the Nehemiah Corporation will allow cash-poor buyers to purchase new homes with no money down. Lew Sichelman reports.

Was Your Yield Spread Premium Disclosed?
You may pay far more for mortgage financing than you expect -- and under current federal rules such undisclosed fees are perfectly okay. Broderick Perkins reports.

New eBay Program Makes Big Splash in Vacation Timeshares
Timeshare units have been notoriously-difficult to sell, but now eBay has entered the field with a new system to efficiently price, market, and settle timeshare properties. Ken Harney reports.

No Money Down Not For The Short Term
No doubt, there is an allure to buying real estate with no money down. But such deals can contain a potent problem for those who must sell within a few years. David Reed explains.

Is Condo Living Right For You?
Buying a condominium can provide you with an affordable, low-maintenance alternative to a detached home. But as Michele Dawson explains, you'll want to consider all the ramifications.

Fair Housing Rules Guide Real Estate Sale Efforts
Efforts to bring fairness and equal opportunity to the real estate marketplace continue daily, reports Al Heavens.

Mold a Mounting Concern for Homeowners, Builders2
Mold is on the minds of homeowners and homebuilders alike. If you're thinking about buying -- or selling -- a house, you'll want to know where mold is most likely to fester. Michele Dawson explains.

What Will Be Hot For New Homes In 2002?
How will builders change new homes during the coming year? Big homes, small living rooms, fancy kitchens and baths, and lots of amenities are among the things to look for in the housing market, reports Carol Ochs.

Which Is Better: More Down Or Less?
You can buy with either 20 percent down or with less down but monthly costs for private mortgage insurance. Which is better? Henry Savage explains.

Paperwork Overwhelms Closing Process 1
Why so many papers at closing? Many are unnecessary, contends Benny Kass, and less paperwork could greatly reduce settlement confusion.

What Do Truth-In-Lending Statements Really Say?
You lender provides you with a truth-in-lending statement. So what does it mean? Maybe less than you think, suggests Henry Savage.

Oregon Energy Program Offers Homes With No Money Down
Buyers of energy-efficient houses in Oregon now have something to crow about besides lower utility bills: Under a new statewide program, they won't have to make a downpayment, and their mortgage rates will be under 6 percent. Lew Sichelman reports.

Fannie Mae Tries Appraisal Waivers, Seeks Reduced Consumer Costs
Should all home sales require a full appraisal? According to Fannie Mae, most homes do not require the use of a full appraisal, and some may not require an appraisal at all. Ken Harney reports.

What To Do In The Face Of Rising Interest Rates
Can interest-rate seers predict tomorrow's interest rates? Not at all, says Henry Savage, who explains why consumers should hedge their bets when making a loan commitment.

New Or Old? The Debate Continues
The decision of whether to buy a new or existing home can be difficult. Do you want a mature neighborhood, the latest design concept, or maybe both? Michele Dawson looks at one of real estate's perpetual questions.

"Flipping" Proposal Draws Industry Fire
If FHA borrowers were unable to sell homes for at least six months would that end illegal flippling? No, say brokers and lenders. Lew Sichelman reports.

Ask George: Questions From Consumers
What happens if the septic tank fails after you move in? Can you be foreclosed if you don't pay a condo fee? What's an installment sale? Ask George!

How To Check Out Vacation & Retirement Areas
Free and low-cost timeshare promotions can be a good way to check out resort and retirement communities, reports Broderick Perkins. And they can be a low cost mini-vacation, as well.

Why Are Vacation Homes Still Hot?
Despite the recession, increased unemployment, and ups and downs on Wall Street, vacation home sales have risen substantially since 1995. Broderick Perkins looks at the reasons behind this trend.

Settlement Overcharge Crackdown: Are Appraisals Next?
HUD's tough new campaign against home finance kickbacks and settlement overcharges could be heading to a new area ripe for investigation: unreasonably large appraisal mark-ups. Ken Harney reports.

FHA Starts Matching Program For First-Time Buyers
The FHA will have $50 million in matching funds under a new purchase assistance program, reports Lew Sichelman. Up to $1,500 will be available to first-time buyers, and enough money is in the program to assist 30,000 purchasers nationwide.

Ask George: Questions From Consumers
What happens when the cost of closing differs from the Good Faith Estimate? What happens if sellers stay too long? Who gets the deposit if financing falls through?

Warranties Ease Buyer Worries, But Read The Fine Print
The offer was good -- $50K over asking -- but the buyers declined a home inspection. At least, said the seller, let me get you a home warranty. Al Heavens reports.

Conventional Loan Limits Rise 9.3%
The conventional loan limit will rise 9.3 percent as of January 1st to $300,700 for a single-family home. Peter G. Miller explains how the higher limit will help some consumers save money.

What To Do If You Buy Contaminated Property
No matter how careful buyers might be, it's still possible to purchase contaminated property. Often some kind of cleanup is needed -- a cost no buyer wants to pay. Stuart Lieberman looks at buyer options.

Ask George: Questions From Consumers
When must condo meetings start? What happens when an inspection report is wrong? What paperwork do I need to show that my mortgage has been paid off? Ask George!

Self-Employed Face Extra Hurdles Financing And Refinancing
Going from employed to employer sounds like a great deal. But for lenders, newly-minted entrepreneurs raise a host of discomforting questions. David Reed reports.

MI Firms Come Through In Troubled Times
Mortgage lenders routinely modify loan agreements when disaster strikes -- and although it's not widely known, so do private mortgage insurance companies. Peter G. Miller reports.

Special Financing Available For Low Income Buyers
Is a low income a barrier to homeownership? In many metro areas the answer is "yes," but as Tony Carr explains, there are programs available in some areas even those who earn $15,000 a year.

Does Your Closing Date Make A Difference?
Does it matter what day you settle on your new loan? Not usually, reports Henry Savage, but there is one important exception.

Conventional Loans Become More Interesting At Year End
You've heard the term "conventional" financing, but what does this expression really mean to mortgage borrowers? Are there "unconventional" loans? Peter G. Miller shows how to save money when financing and refinancing.

Ask George: Questions From Consumers
What happens if the roof leaks in our first night at the new home? Can we sell a home with asbestos siding? Should our broker be cleaning our pool? Ask George!>

Should Home Inspections Be Mandatory?1
For several years HUD has asked appraisers to find housing defects, but now a leading congressman is asking if home inspections by trained inspectors should be required. Lew Sichelman reports.

Act Now! -- Old Claims Lose Potency With Time
What happens if you have a legal claim but fail to take prompt action? In many situations, reports Benny Kass, you may lose your right to sue if too much time passes.

New Conventional Loan Limit May Exceed $300,000
How high will loan limits rise at the end of the year? Lew Sichelman reports that $300,000 mortgages may soon be "conforming" -- good news for borrowers who need big mortgages and low rates.

Changing Market Requires Evolving Owner Strategies
Lay-offs and a recession mean that some markets have weakened and it's not as easy to sell a home. So how can owners maximize sale values? Broderick Perkins suggests five baseline strategies.

Don't Let Illegal Flipping Get Your Home1
There's nothing wrong with buying a home and quickly re-selling it at a higher price -- unless fraud is involved. Benny Kass looks at flipping and explains what to watch.

Broker Value Increases In Tough Markets
Over the years real estate marketing has become increasingly complex. Add in a recession and, says Al Heavens, there are more reasons than in the past to use a broker when selling a home.

Five Keys To Successful Negotiation
You want to win at the bargaining table -- but how? Here are five key steps to review before placing a home on the market or submitting an offer.

How Will The Recession Impact Real Estate?
We now face the prospect of a recession and declining home sales. How long will it last? How deep will it be? Peter G. Miller looks at the marketplace.

Sink Holes Can Sink Dreams
Sink holes, says Stuart Lieberman, are craters which form in the ground, causing things on the surface, such as homes, people, and cars, to sink into them. Here's what you want to check.

Has Your Credit Changed?
If you're in the market for a new home or a new loan, be careful about increasing your debts. Making a big purchase before closing could reduce your ability to qualify for a loan -- or may cause lenders to reject your application.

Is Now The Time To Buy?
Given the terrorist attacks in September, massive layoffs, and declining corporate profits it's not unreasonable for would-be purchasers to ask if now is the time to buy real estate. Peter G. Miller explains why today may be the best time to buy in the past several years.

Retirees Turn To Bigger Homes
Small budgets used to mean small homes in retirement, but no longer. Now the trend is retirees with more money who want larger homes with more amenities. Lew Sichelman reports.

What Happens When Surprise Liens Are Found?
What happens if you go to closing and, whoops, the title company says your home has unpaid mortgages? Benny Kass explains how to go through with closing and how to remove old claims.

How To Get The Best Appraisal
Appraisals are important for both buyers and sellers. For sellers, the idea is to get the highest appraisal possible. M. Anthony Carr looks at the process and how it works.

Getting Extra Value From Appraisals
You get a lot of paperwork at closing, including a form which allows you to get a copy of your appraisal. Should you get your appraisal? Of course, explains David Reed, who explains how such valuations can be important to buyers.

Ergonomics Offers New Slant On Home Design
Ergonomic design is increasingly common in offices, but there's also a place for ergonomics in the home. Carol Ochs reports on the latest home-design trend.

Lease-Purchase Plan Requires Longevity
A new lease-purchase program reveals how the creative buying approach to home ownership can work, provided participants can stick it out long enough. Broderick Perkins reports.

Standard Versus Itemized Deductions
How do tax deductions impact the decision to buy or nor buy a home? Part of the answer relates to the type of deduction available to you, itemized or standard. Henry Savage explains.

How Will New Homes Fare Following Terrorist Attacks?
The National Association of Home Builders, the Meyers Group, and others say an end-of-the-year dip in new home sales will be temporary -- as long as the economy is resilient and future disasters are avoided. Michele Dawson reports.>

New Home Trends Favor One Story And Small Lots
What style of home do most Americans prefer? How big should it be? Carol Ochs looks at recent numbers and asks how your answers might compare.

Questions You Should Ask About Property Taxes
Property taxes are a major expense, one which often totals thousands of dollars per year. But property taxes are not the same for like properties or for every owner. Here are the key questions to ask.

Ask George: Questions From Consumers
Can you get a deposit back if you cannot rent a property? Can a buyer cancel a sale at the last moment? What happens when "reasonable repairs" are not made? Ask George!

Routine Maintenance Part Of Ownership
It would be great if there was such a thing as a maintenance-free home. Alas, that's not the case. Al Heavens looks at common repairs homeowners will likely encounter.

New Take On Mortgage Fraud: Undue Enrichment
Is it possible to have mortgage fraud when monthly payments are made in time and in full? You bet. The FBI is now pursuing loan officers for "undue enrichment," reports Lew Sichelman.

Rent-Versus-Buy: How Tax Deductions Really Work
What's the difference between renting and owning in terms of taxes? Henry Savage looks at the tax system and explains why tenants may be able to afford more for housing than for rent.>

Which Way Real Estate Prices?
The emergence of a recession, the terrorist attacks in September, and the 18-month meltdown on Wall Street leads to an obvious question: What will happen to real estate? Peter G. Miller looks at the market.

Home Is Where The Wealth Is, Says Congressman
Although minority home ownership increased four times faster than ownership among Whites during the 1990s, it "still lags way behind" -- 46.7 percent vs. 73 percent, according to the latest tally. A new program hopes to add 1 million minority owners to the nation's ownership roll.

Why Do You Need So Many Reports?
Buy a detached home today and you're likely to need, want, or be required to get an appraisal, home inspection, termite report, and survey. But do you need so many checks? David Reed says yes and explains why.

New Home Options Become Commonplace
Increasingly buyers want their new homes customized, which often means spending thousands of dollars above baseline prices. Al Heavens looks at buyer preferences and what they're getting for their money.

Welfare Alternative Boosts Housing
A growing number of special matched-savings accounts are helping low-income families and individuals save money to build assets, including homes, better education, and small businesses. Broderick Perkins reports.

Title Industry Opposes "Upcharging" Consumers
Are you paying too much at closing? HUD says overcharges are a RESPA violation, while a recent circuit court decision has okayed the practive. Meanwhile, reports Kenneth R. Harney, the title industry says it's against the practice of "upcharging."

Gifts Of Real Estate To Children Not A Good Idea
You've got a big house which you no longer need. Should you give it to your children? Not so fast, says Benny Kass.

How To Stretch Your Tax Rebate
Don't let those tax rebate dollars from Uncle Sam slip through your fingers. Instead, says Broderick Perkins, invest them in ways that will save future dollars, reduce energy costs, and improve home values.

How Much Do Builders Really Make?
New homes cost a lot of money -- but do high prices mean steep builder profits? Al Heavens looks at new home economics and explains where the money goes.

Interior Design: From Free To Fancy
If you'd like to fix up your home with a little bit of professional help there's no shortage of options, reports Carol Ochs. Whether free or fancy, homeowners now have lots of choices, including an array of web sites.

There's More To Model Homes Than Meets The Eye
Those model houses you see at new home developments may be more than just buyer come-ons. Many are actually owned by investors, reports Tracey Meloni, and some fit the bill for buyers who wants both homes and furnishings for a single price.

FHA Seeks Property "Flip" Crackdown
Illegal "flipping" -- using fraud to quickly sell homes at higher prices -- may face a new hurdle, a proposed rule which would ban FHA borrowers from selling for at least six months. Kenneth R. Harney looks at flipping and the new proposal.

Online Survey Alleges Privacy Violations
Mortgage lenders are violating new privacy guidelines, online lenders and banks are making it difficult for consumers to exercise their privacy rights, and still more use loopholes to share personal information, according to a new survey of online lenders' privacy policies. Such alleged practices, reports Broderick Perkins, have resulted in a complaint to federal regulators.

Don't Let An "Ex" Mark Your Credit Report
That divorce was a long time ago -- you have a bunch of court paper and legal bills to prove it. And yet if you're not careful, says David Reed, your credit information may show bills for two, bad news if your "ex" pays late or not at all.

Is There A Case To End Mortgage Interest Deductions?
More and more people with the ability to buy are instead choosing to rent. Does this mean tax preferences which favor ownership should be reduced or repealed? Lesley Hensell looks at deductions and debates in Washington.

Which Way The Market? Contrary Signs Puzzle Experts
Thanks to real estate, the nation's record economic expansion has continued despite rising unemployment and poor corporate performances. But if the real estate bubble bursts, reports Broderick Perkins, it's likely to plunge the economy into a long cold winter.

Can Lenders Make Loans On Future Income?
You're expecting a big pay increase next year, so can lenders provide financing based on your new and higher income? Not likely, says Henry Savage, who suggests a different approach to borrowing.

Greenspan Speaks: Housing Beats Wall Street
Fed Chairman Alan Greenspan could not have been clearer: If you want to encourage consumer spending and create a strong economy you need a robust real estate sector. Peter G. Miller looks at the Chairman's latest advice to government leaders.

Clubhouse Completions May Be Elusive for Canadians
The brochure shows a great new clubhouse, but the actual facility is not yet built. If you buy will the clubhouse soon be completed? Don't bet on it, reports P.J. Wade, who looks at the economics of clubhouse construction.

How To Re-Finance With An Eye Toward Future Rates
Picking the right combination of rates, points, and programs is not easy when financing or refinancing. David Reed says that in a market where rates may head lower it can pay to consider still-another refinancing even when looking at loans today.

Ask George: Questions From Consumers
Can rents be raised before the lease is up? How do you get title to property after someone dies? Should we tell sellers about a defect that has been repaired? Ask George!

Moving Tips Ease Your Pain
Most of us move within the same county or not more than 10 miles from our present home when we relocate. But some of us move much further, and there are several tips that can ease the effort of a long-distance haul. M. Anthony Carr explains.

Brick Rules Ontario's Cladding Market
Visitors to Ontario are often surprised to find whole communities where the housing stock is entirely brick. And demand for the low-maintenance material is so great, reports Jim Adair, that new manufacturing plants are now being completed.

The Case For Borrowing Less
Consumers are often advised to borrow as much as they can, but lender Henry Savage says "no." A better course, he advises, is to look at your needs and preferences. Sometimes "more" will not be "better."

How To Simplify Your Move
Moving is a big event. It's tiring, complex, and costly. Alan Heavens explores the lessons of a recent relocation and explains how to move with less stress.>

$25,000,000+ In Property Value Vanished In Alleged Fraud1
The FBI, reports Lew Sichelman, is investigating a massive fraud case in which inflated appraisals and fake documents helped induce at least one funding lender to make more than $25 million in mortgages that turned out to be practically worthless.

When Should You Sell Investment Property?
Buying and holding investment real estate are both complex, says Clifford Hockley. But in both cases investors need to acquire real estate with an eye toward a possible sale or trade.

Getting the Most From Your Home Inspection
A home inspection is much more than just a formality -- it could be one of your best investments. Michele Dawson explains how to get the most from a home inspection.

Are Canadian Backyards & Playgrounds Safe?
You wouldn't think of playground areas for children as being special sources of danger, yet statistics show that's the case. The good news is that simple, inexpensive steps can greatly reduce playground injuries both at home and in public areas.

How To Age In Place
Alas, none of us are getting any younger. As Carol Ochs points out, as we age our housing needs will evolve. Is your home ready to age along with you?

Architectural Control Committees: Do They Serve A Need?
Architectural control committees and their decisions are a common source of HOA conflict. Rather than being dictatorial, suggests Benny Kass, such committees need both clear guidelines and a strong measure of common sense.

Low Doc Loans Reduce Borrower Headaches
The loan process is a nightmare of paperwork and numbers for many borrowers. But it can be easier, says David Reed, if you look for loan products with less demanding documentation requirements.

Should Mortgage Borrowers Await Federal Reserve Rate Reductions?
Should mortgage borrowers wait for the Federal Reserve to drop rates? Not so fast, says Henry Savage, when the Fed drops short-term rates mortgage borrowers often suffer.

Appraisers Seek Change In Washington, Bigger Role In Home Sales
Real estate appraisers are in Washington demanding new rules to protect both lenders and the public against fraud -- and also to assure a greater role for industry professionals. Lesley Hensell explains what appraisers want.

How To Prepare Your Kids for Moving Day
You think moving is a source of stress for you? What about children whose whole world is about to turn upside down? Michele Dawson offers tips to make the transition as easy as possible.

Passing It On: Canadian Families Share the Wealth
Canadian baby boomer parents are increasingly able and likely to help adult children get started with that first home, according to a recent survey. The result is a growing transfer of inter-generational wealth and more opportunities for homeownership.

High Interest Returns For Paying Other People's Taxes
It's not quite a get-rich-scheme, but there is -- maybe -- money to be made buying tax certificates. But don't quit your day job just yet. As M. Anthony Carr explains, buying tax certificates is complex and not something to be done without study.

Ask George: Questions From Consumers
How can I find the a home's "fair market" value from years ago? Can I change my mind and not buy a home after a flood? What happens if the appraised value is less than the sale price? Ask George!

Does It Make Sense to Pay Points?
Does it make sense to pay "points" to lenders at closing? Henry Savage says that unless you expect to be a long-term owner, you're likely better off with a higher rate.

How To Light Up Your World
If you want an enlightening experience -- and one which will make the exterior of your home safer and more secure -- add outdoor illumination. Carol Ochs looks at the outdoor lighting trend and how to do it right.

Subprime Loans Grow With Good Times1
You would think if the economy is strong, people have jobs, and interest rates are generally low then there would be less need for subprime loans. But subprime lending is on the rise, growth which raises many questions according to Peter G. Miller.

Lumber Prices Set To Rise After Fed Ruling
The federal government has ruled that Canada is selling lumber unfairly in the U.S. The result, reports Lesley Hensell, will be a 19 percent tarriff on lumber imports, a cost that will surely go through to consumers.

Feds Report: Housing Starting To Weaken
It had to happen. With the stock market troubled, lay-offs continuing, and economies around the world struggling it follows that real estate values would eventually reflect such turmoil. Now, reports Lew Sichelman, federal data has begun to show eroding real estate prices in selected markets.

Realtors Back Federal Penalties For Appraisal Tampering
Support is growing on Capitol Hill, reports Kenneth R. Harney, to correct what real estate appraisers say is their biggest problem: Intimidation and pressure on them to "hit the number" desired by mortgage loan officers and others.

Buy With Care, Not With Speed
What would you do to buy that special home? Sometimes too much, suggests Benny Kass, who says purchasers should insist on certain contract provisions to protect their interests.

When Borrowing Is A Moving Experience
It's not uncommon for people to move across state borders to find new jobs. Does moving complicate the borrowing process? You bet. David Reed explains how to get financing when moving to a new community.

Reflective Roofs Are So Cool
It may seem hard to believe, but the color of your roof can result in significant energy savings -- if you choose right. Choose wrong and monthly fuel bills are sure to rise, as Broderick Perkins explains.

How To Buy Home Insurance
Your lender says you must have it -- and common-sense demands it, so what should you look for when it comes to homeowner's insurance? Peter Miller looks at the questions to ask.

Older Homes Require New Vision Before Purchasing
When it comes to homes, they don't make like they used to. Which is why, explains Al Heavens, more than casual viewing is required to spot features which don't work now and may never have worked.

HOA Resale Revelations
Buying a detached home is complex, but it may be more complicated to purchase within a homeowner association. As Richard Thompson explains, there are lots of questions an informed buyer will want to ask -- and some questions HOAs may not want to answer.

Not the Same Old FHA
For a time FHA loans were considered heavy on paperwork and light on borrower advantages. But now, reports Lew Sichelman, the program has been improved and is increasingly competitive with private-sector loans.

Ask George: Questions From Consumers
Can the sellers take the rugs when they move from a "fully furnished" house? What happens if buyers contract to purchase a home but refuse to close? How do I find out if a broker has been the subject of complaints with state regulators? Ask George!

10 Tips For First-Time Buyers
Each year more than 40 percent of all homes are purchased by first-time buyers, a percentage which should offer some comfort if you're about to buy a first home. But like most things, there are ways to make the process easier, including these 10 baseline strategies to make that first purchase a good experience.

Williamsburg Homes Go Modern Inside, Remain Unchanged Outside
Everything old can be new again with a blueprint for building your own piece of history -- a design based on homes from Colonial Williamsburg. Carol Ochs looks at combining the old with the new from the much-admired designs of the past.

Tax Reform & Boomers Power Second-Home Rush
When Tracey Meloni decided to buy a vacation home little did she know that her decision was part of an emerging trend. Spurred by the Tax Relief Act of 1997 and economic good times, vacation homes are increasingly common.

How To Take Title With A Friend
If marriage looms in the future but you both want to buy now, what's the best way to hold title? Benny Kass looks at ownership, romance, and reality.

Award-Winning Film Brings Money Pit To Staten Island
You say you want to invest in real estate? An award-winning independent film shows just a few of things that can go wrong when you buy a fixer-upper -- and want a tavern on the first floor. Broderick Perkins looks at a film which explains how not to invest in real estate while providing an entertaining human story about chasing the American Dream.

West Leads With Density, Sprawl More Likely In Older Areas
The opposite of "sprawl" is "density" and it turns out that some of the most sprawl-free areas in the country are in heavily-populated California and Arizona. Lesley Hensell reports on a new study from the Brookings Institute.

Rent-Vs-Buy Calculators Miss The Mark, Says Study
Have you tried one of those online "rent-versus-buy" calculators and found that you could make big money purchasing? Not so fast, reports Kenneth R. Harney, a new study says such calculators are likely to greatly overstate the benefits of buying.

One-Of-A-Kind Homes Generate Little Lender Interest
Unusual home designs can satisfy personal preferences, but they may also make a home difficult or even impossible to finance. David Reed explains why lenders use caution when looking at custom homes.

Ask George: Questions From Consumers
Can a builder substitute upgrades for missing space? Can a broker show a home which is not for sale? What do you do if you have a dispute with your listing agent? Ask George!

High Tech Or Low: What's Your Preference?
Smart appliances, computer controlled lights and heating, outlets and wiring for a media center and home office -- who needs 'em? As Carol Ochs explains, it depends on your "tekkie" status.

Will You Pay Too Much For Your Mortgage?
You know to ask about rates and points when you shop for a mortgage. But is "overage" on your list? Peter G. Miller looks at the growing debate over lender fees.

What Happens When Association Control Shifts?
Your community is nearly finished and now the developer wants to turn over control of your association to the unit owners. What tricks and traps do you face? Benny Kass explains.

National RV Tour To Expose New Home Ills1
Jeff and Susan Treganowan used to sell new homes -- and now they want to tell you about the tricks and traps they found. Broderick Perkins reports on their cross-country crusade.

Settlement To Pay $41 Million Plumbing Bill
Thousands of home owners in Southern California are finally going to get their plumbing fixed, reports Broderick Perkins. The repairs are the result of a $41 million mediation settlement in a defective galvanized steel plumbing case.

It's Better To List Than Lose
You've seen a house and want to buy it, but what's included in the sale? As Benny Kass explains, determining what is -- and what isn't -- part of the sale can be confusing, unless you spell out what you want in the sale offer.

Should You Invest In Foreclosures?
You've heard about on late night television. Yes, you too can make big money with foreclosures.... But, as M. Anthony Carr explains, making big money is not quite so simple, or likely, as promoters might suggest.

Get The Lead Out, Take A Bite Out Of Crime
Did leaded gasoline and lead-based paint create a crime wave in the last Millennium? Perhaps so, reports Broderick Perkins, according to a study by one housing and community development researcher.

How To Move Up With Old Equity
You have a house but you want to move up. What are the best ways to transfer equity from one property to another -- before that second house is sold to someone else? David Reed offers three options.

Ask George: Questions From Consumers
Can a seller hang on to our purchase offer for 30 days without a response? Are there reasons to buy a single-family home rather a triplex? Should we be concerned about a 3' x 4' patch in the basement of our new home? Ask George.

Home Ownership Improves Lifestyles1
Home ownership, says a new study, increases the chances of low-income kids attaining higher levels of education, reduces idleness, cuts the incidence of teen pregnancy, improves earnings, and reduces the need for welfare.

Home Affordability Improves For Canadians
With mortgage rates down more than a percent when compared with a year ago, Canadian homes have become more affordable. One result, reports P.J. Wade, is that existing home sales are up and could set an annual record if good times continue.

New Funds For Affordable Housing Proposed On Capitol Hill
New proposals on Capitol Hill could triple the funding available for affordable housing, reports Lew Sichelman. The source of such funds? Excess income over the next seven years worth $26 billion from FHA insurance accounts.

How To Handle Lender Questions
Remember the time that credit card payment was late? Probably not, but lenders may want to know what happened and why. David Reed explains how to answer lender questions.

Manufactured Housing Captures New Residents
Manufactured houses are now home to more than 20 million people, reports Carol Ochs. While manufactured homes have evolved radically in the past 25 years with better construction standards and new features, one aspect remains the same: Manufactured homes offer ownership at little cost. The typical home costs less than $45,000.

How To Use Second Trusts To Sell Your Home
Sometimes, to get the best possible price, sellers are asked to "take back" a second trust -- in effect, to make a loan to the buyers. Benny Kass looks at second trusts and how they can be written to protect seller interests.

GSA Auctions Property On-Line
If you need an old missile assembly plant, a lightkeeper's residence, a house in West Virginia, or genuine brine disposal site the federal government wants your business. Such properties can now be purchased from a new federal website that allows the public to bid directly for surplus federal property.

Stronger Homes Protect During Hurricane Season
Hurricane season will soon be with us, potentially bad news for homeowners from Key West to Boston. The good news, reports Carol Ochs, is that new homes are being built to better withstand such powerful storms.

Ask George: Questions From Consumers
Oh no, my name changed before closing, our broker also sells furniture, and my tree is healed -- but need I tell the buyers it once was less than leafy? Ask George.

Counseling Key To Ownership Program
Mortgage counseling has been shown to reduce delinquencies among first-time home buyers. Now a California program with counseling and other special features allows rookie buyers with as little as $2,000 to purchase a $200,000 home.

How To Succeed With Counter-Offers
Counter-offers are a valuable bargaining tool. When used right they can result in better terms and a better agreement, used wrong they can turn off the other party.

Ask George: Questions From Consumers
Should tenants make their own repairs? Can builders change home prices without updating MLS systems? What happens to a deposit check? Now you can find out -- just ask George.

Don't Let Rising Energy Costs Freeze Homeownership Chances
Rising energy costs make homes harder to buy and tougher to own. But there are tactics you can use to hold down energy expenses, explains Julie Garton-Good.

What's A Stigmatized Home?
Help! Murder! Police! What can you say when a home has been the site of a horrid event? You must provide detailed information in some states while in others there's no requirement to say a word.

How To Challenge Low Appraisals1
It's a great house and buyers are lined up with offers. That's terrific news -- but what if the appraiser says the property is worth less than the purchase price? Benny Kass looks at seller options.

"Can I Buy Your House?"
The letter writers liked our house. Even though it's not on the market, they wondered if we would sell. Suddenly a new option was before us.

Gender Makes A Home Buying Difference
There's no question that men and women are different. Even when it comes to their housing choices, says Lew Sichelman, men and women are often profiles in contradiction.

How To Avoid Rookie Mistakes
More than 40 percent of all homes are bought buy first-time purchasers. But could they be bought better? Courtney Ronan looks at frequent rookie mistakes.>

How Your Parents Can Help You Buy
Can parents help children acquire real property? Sure, says Benny Kass, who looks at some of the issues which arise when Mom and Dad want to ease the burden of homeownership for a family member.

Occupancy Favors Can Cloud Transactions
Situations where buyers want to move in before settlement -- or owners want to move out after closing -- are not uncommon. But rather than being simple accommodations between buyers and sellers, such arrangements can have a number of pitfalls if not properly structured.

Meeting the Seller: How To Find Bargaining Chips
There's more to buying a home than bedrooms and baths. Why sellers want to move can greatly impact home prices and negotiating terms. Courtney Ronan explains how.

Walk-Through The Right Way
It's just a little while before closing and now you have a chance for a final tour of the property. What should you look for -- and what should make you wary?

Who Gets The Earnest Money Deposit?
If a homebuyer refuses to go through with a loan application, can a seller keep the earnest money deposit? As Benny Kass explains, the answer may well depend on the amount of money involved and the willingness of each party to fight.

Fixer-Uppers: Wise Investment Or Money Pit?
Can that eyesore in a good location turn into a winning investment? There are no sure answers, but Courtney Ronan looks at some of the issues to consider when viewing homes in less than pristine condition.

Five Keys To Successful Negotiation
You want to win at the bargaining table -- but how? Here are five key steps to review before placing a home on the market or submitting an offer.

Rent vs. Buy: Do Calculators Have Your Number?
Lots of sites have rent-vs-buy calculators, so what results can you get with a financing "test drive?" Julie Garton-Good checks the numbers with some leading sites.

Contract Clauses For Buyers
A contract is a contract -- and some are better than others. Benny Kass looks at baseline contract clauses designed to protect buyer interests.

Can Home Inspections Be Perfect?
If you have a professional home inspection will every defect with the property be uncovered? No always, explains Andrew Kleeman, there are some items which may be impossible to spot or predict.

WOW Program Seeks 1 Million New Owners By 2005
A new program designed to increase the rate of African-American home ownership plans to add more than 1 million first-time buyers by 2005, reports Lew Sichelman. The program is backed by Fannie Mae, Freddie Mac and a number of major lenders.

Escalation Clauses: Buyer Beware
In hot markets buyers will do almost anything to get that special home. But should they? Benny Kass suggests that some strategies go too far.

The Psychology of the Sale
Negotiating real estate deals involves more than bricks and mortar, reports Courtney Ronan. Psychology counts, the way you behave at the bargaining table can make a difference

Why Buyer Brokers Sometimes Advise "No"
A buyer broker can assist consumers in the housing market. But in some cases a buyer broker may suggest walking away from a property. Julie Garton-Good explains why this advice can be valuable to consumers.

Buyer and Seller: Never the Two Shall Meet?
Buyers want to buy and sellers want to sell, so should the two parties get together? That may not be such a good idea, says Courtney Ronan, who explains why a little distance is sometimes an important bargaining tool.

Understanding Builder Warranties
There's a lot of consumer protection built into new homes, explains Courtney Ronan, but not all protections are equal. Here's a look at the type of policies available today -- and the questions to ask.

Getting The Right Numbers With A Lease/Purchase Agreement
Lease/purchase agreements are a long-time real estate staple, a way to buy property when cash and credit are in short supply or when a property may be hard to finance. But, as David Reed explains, care must be taken when creating such arrangements otherwise nasty surprises can result.

How To Prevent Basement Leaks
Basement leaks are a serious matter, reports home inspection expert Andrew Kleeman. In most cases, however, seepage can be found and easily corrected by simply re-directing water away from a home.

Disclosure Statements Help Buyers Beware
Seller disclosure forms make for better home sales, says Stuart Lieberman. While not replacing a home inspection, they can help buyers better understand a home and its condition.

Questions You Should Ask About Property Taxes
Property taxes are a major expense, one which often totals thousands of dollars per year. But property taxes are not the same for like properties or for every owner. Peter Miller looks at property taxes and how they work.

Putting A Lid On Household Noise1
The world around us is getting louder each day, but there are steps which homeowners can take to make their households quiet enclaves of peace and serenity, reports Dena Amoruso.

Can You Be Too Young To Buy?
How young is too young when it comes to buying real estate? Courtney Ronan suggests that buying early is advantageous -- and explains why.

"Tell All" When Selling? You Bet!
There are a lot of homes in the news, and sometimes for the wrong reasons. What must sellers say to buyers when homes contain problems which may be unseen? Benny Kass explains that today sellers must tell what they know -- or pay the price.

Do You Need An Energy Rating Inspection?
Termite inspections, home inspections, title inspections and now energy rating inspections. Do you really need to check a home's energy efficiency? In an era with more power shortages and higher fuel bills, Broderick Perkins says an accredited energy rating inspection is something to consider.

What's Wrong With This Picture?
Despite disclosure statements and a host of inspectors, sometimes the best form of consumer protection for buyers is basic common sense. A little detective work and a few basic questions can go a long way, reports Julie Garton-Good.>

How To Cut Closing Costs
Closing costs can amount to thousands of dollars but there are ways to save, explains mortgage insider David Reed. In fact, new lender technology may create additional saving opportunities which were not previously available.

What's "Fair Market Value?"
What's "fair market value?" It's an important question --- one that impacts your wallet when buying or selling real estate, paying property taxes, getting divorced, or settling an estate.

Are You Haunted By Carpet Ghosts?
You have a new carpet and yet it seems oddly colored. You clean and clean but the problem remains. Do you have a carpet ghost? If yes, how to you make such goblins take flight?

Getting The Best Deal On Title Insurance
You WILL get title insurance -- just ask your lender. But not all title insurance policies are the same and it is possible to get both lower rates and better terms in some cases.

Title Insurance: Who Needs It?
Your lender says you need title insurance, so you get title insurance. But what is it and who does it really protect?

RRSP Home Buyers' Plan Attracts Canadians
Where should Canadians place their retirement funds? An increasingly-attractive option, says P.J. Wade, is the Registered Retirement Savings Plan, a program which allows up to $20,000 in withdrawals to buy or build a home.

Mortgage Options: How Much Of A Gambler Are You?
Getting a mortgage means facing an array of choices, and while lots of options are good for consumers, it's also true that each choice represents some level of risk. How much risk are you willing to take? Julie Garton-Good looks at some options.>

Should You Worry About Sloping Floors?
Sloping floors often evolve as homes grow older, but surprisingly a bit of lean may be normal. The trick, says home inspection expert Andrew Kleeman, is to know when a little tilt is too much.

What's A Trust Deed? Is It A Mortgage?
Buying a home in California is somewhat different from other states. But then as, Rose Pothier explains, most states have differences and you can even find distinctions within California itself.

The Buyer's Puzzle: How Far To Go for the American Dream? 1
Steep housing costs are pricing out many buyers who would like to live in core metro areas. Worse yet, it may be that long commutes are not only tiring and inconvenient, they may also be a health hazard.

Property Inspections Overlooking Details At Your Peril
Buying commercial property is not a casual event. Structures, complex systems, and environmental issues must all be examined to assure that a deal which looks good does not hid costly defects.

Avoid Surprises: Know Your Homeowner's Coverage
If you have a mortgage you must have home insurance -- so say lenders. But what does your policy say and what questions should you ask?

Telltale Signs Of A Market Shift: Are They In Your Neighborhood? (Part I)
The downturn is here. Big stores are closing, dot.coms are down, and Wall Street is shaky. But what about your neighborhood?

Inside Scoop: Breaking Down Broker Costs
Is it true that brokers make big money on every realty transaction? Not hardly. In fact, the real costs and time required to sell a typical house will likely surprise many consumers.

Stay On Top of Mortgage Payments 'Til Closing
There are four solid reasons why keeping your mortgage payments current makes good financial sense even when a sale appears eminent.

Why The Right Closing Date Can Make A Difference
Some closing dates are simply better than others. Wait too long and loan commitments can expire. Settle too fast and there may not be time to plan the best move. Here's how closing dates are set.

Use Contrary Timing to Maximize Home Purchase
Being contrary can help maximize your home buying efforts. Not the stubborn kind of contrary, but the kind that positions you to purchase outside of the prime home buying time.

For Tax Purposes, What Is The Best Time To Buy My House?
Knowing when to close your real estate purchase can work to your advantage at tax time. You may want to consider postponing your December closing until January of next year, if it will benefit you on your tax return. You would make this determination in several ways.

Seller Disclosure: It Protects Both Sides
Longtime homeowners will snicker knowingly, but newbies learn the hard way: Seller disclosure is of critical importance. It makes you wonder why most states didn't make seller disclosure a law until the late '90s.

Real Estate Consultants: Are They REALLY Different From Real Estate Sales Agents? Part I
Just when you’ve pretty well figured out what real estate sales agents do, along comes another breed---real estate licensees working as real estate consultants. Are they really different from typical real estate agents or merely applying new window dressing to look unique to lure consumers?

Too Much "Creative Financing" A Misstep for First Time Buyers
Purchasing your first home is financially stressful even in the best scenarios. Don’t risk a financial misstep that could ruin your credit or even cost you a foreclosure. It’s worth the wait to start off with a more promising financial picture than the one painted by an over-leveraged, in-debt seller.

Wed for a Little Less and Buy a Little Earlier
Countrywide Home Loans, Inc., a national leader in residential finance, reveals the advantages for couples of spending a little less on the 'Big Day' and using the savings to purchase their first home a little earlier.

Many Resale Homes Riddled With Deficiencies
Two in five of the resale houses you'll tour while shopping for a home will have at least one major defect that could cost you from a few hundred dollars to as much as $15,000 to repair.

Is Your New Neighborhood a Good Investment?
Taking on the role of sleuth - well before you sign on the dotted line -- is one of the best measures you can take for the sake of your future investment.

Buyers: Use the "Right of First Refusal" Clause as Ammunition in the Purchase Agreement
You've fallen in love with a house you've found, but there's a slight roadblock. You must first sell your current home before closing on this one. Your best ammunition to convince the seller to take a chance on you as a buyer just may be in using the "right of first refusal" clause in your purchase agreement.

Tips for First-Time Buyers: Part II
While the Internet has proven to be an invaluable tool for any first-time homebuyer, the wealth of information posted on the Net can cause a new buyer stress.

Top Tips for First-Time Buyers
There are some questions you can't afford not to ask yourself and/or your REALTOR before you commit yourself to homeownership, and most of them are related to the mortgage application process.

No News from the Seller? --- Not Necessarily Good News
Most buyers want the seller to respond in the quickest timeframe possible. This is especially true in strong seller's markets prevailing in a majority of the country today. Characterized by few available properties, buyers are eager to hear a positive response back on their offer in order to lock up the property.

Escalator Clauses: When Is It Time To Hop On Board?
Is the housing market so hot in your community that bidding wars are breaking out? If yes, you're likely to meet a little something called an "escalator" clause, a bit of contract writing that may help you win a home -- but at a price.

How to Avoid Becoming "House Poor"
Should you buy the most home you can possibly afford or a more modest home so you can have money for other things? Lenders and Realtors say buy more, financial planners say buy less. Who's right and what's best for you and your family?

Are You a Client or a Customer?
Think there is no difference in being a client and a customer? In the real estate industry, it is all the difference in the world, and an important enough distinction to make it or break it when it comes to buying the right home for the price you want to pay.

The Disadvantages of Condominium Ownership
For some homebuyers, condominiums are a godsend. They provide a means of building equity without the hassles of yardwork and other outdoor maintenance projects, as well as many other chores and financial responsibilities that single-family homeowners typically face. But condo ownership isn't for everyone.

Contract Knowledge & The "Woo Factor" - Part II
What if the seller decides not to keep negotiations alive should the first purchase agreement die? What aces can you play to stay in the running for the house you want?

Contract Knowledge & The "Woo Factor"
If you're like a lot of Americans, you've got to sell your current home before you consummate the purchase of the new one. But how important is it to "convince and keep convincing" the seller that you're the best buyer for him? And what if your home doesn't sell within the prescribed timeframe, would the contract be void?

Before You Buy That Fixer-Upper
"Fixer-Upper." That term strikes fear in the hearts of many-a homebuyer because it's such a relative term. We don't have any strict criteria defining exactly what "fixer-upper" means.

Is Condo Life for You?
Before you jump into condo ownership, you'll want to consider the pros and cons of such a lifestyle. Ultimately, the decision about whether or not a condo is right for you all comes down to your individual preferences and tolerance levels.

Narrowing Down Your Home Search: Part II
Even if you're torn between two homes, and you're convinced that they're both perfect, reviewing your notes of the interior and exterior features of those two homes can go a long way toward helping you make your final decision.

Narrowing Down Your Home Search
You're approaching the end of your home search, and you're torn between two or more homes. What to do now? The decision could drive you batty. If you lean toward one home, you'll be looking over your shoulder longingly at the other home.

Should You Purchase a Model Home?
Ever noticed how even the most palatial home can look, well, vanilla when there's nothing inside of it? Turning an empty home into a model home can turn a "maybe" into a "yes" in no time at all.

Saving For Homeownership
Many renters bemoaning their fate may actually be able to afford a home -- if they can start exercising some discipline with their finances. The following suggestions can help you save money without denying yourself of fun for the sake of homeownership.

Does "Moving Up" Make Dollars & Sense
The kids are warring over bedroom space -- even the dog wants more room! So one Saturday you innocently load everyone into the car, in search of a larger home. Emotionally, it makes sense. But financially, It's goi