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Buying a House

Which Housing Markets Are Hot and Which Are Cold?

By | October 22nd, 2012|

As we know, all real estate is local. That’s especially true when it comes to home prices. A variety of local factors impact supply and demand, and they can cause prices to rise in one housing market when, not very far away, another market may be in decline. Thus, the nascent housing market recovery may [...]

Real Estate Disclosure: What a Condo Seller Must Tell a Buyer

By | October 11th, 2012|

A seller must tell a buyer through a real estate disclosure about any issues affecting the condo's value, but not all issues. Q: I bought a townhouse condo four years ago and it has just come to my attention (by a local plumber we hired) that the main water shut-off valve for some of the [...]

Does a Developer Pay HOA Dues?

By | October 11th, 2012|

After a developer transfers control of the homeowners' association to residents, developers may or may not have to pay HOA dues on property. Q: The builder of our subdivision has transferred control of the homeowners’ association (HOA) to the residents. Now that we run the HOA, the builder still owns property in the subdivision that they have [...]

Withdrawing From 401k to Buy Home

By | October 11th, 2012|

Evaluate the pros and cons of renting versus home ownership before considering withdrawing from your 401k to pay for a home down payment. Q: My husband is considering taking part of our 401k after we retire and cashing it in. He wants to use that money as a large down payment on a home. It wouldn't be [...]

Do Elections Affect Real Estate?

By | October 11th, 2012|

I posted this new episode of Real Estate Minute in honor of tonight's Vice Presidential Debate. It's on CNN at 8PM EST. I believe Presidential elections affect housing sales. There is a natural slowdown in the market in front of every presidential election. After hitting a two-year-peak in July, pending home sales fell off slightly [...]

Close Credit Cards Before Buying Home?

By | August 6th, 2012|

If a lender asks you to close credit cards before buying a home, find out why and how closing credit cards will impact your credit score. Q: I got your name while doing a search on the Internet and I have a question. I was about to go to my closing for my mortgage on [...]

What to Do When Closing Cost Credit is Reduced

By | August 5th, 2012|

Closing cost credit can be reduced by a closing agent depending on the amount the lender allows. Understand what counts as a closing cost. Q:   It is a second home for us and was considered an investment property although the truth is we bought the condo for our son. At the closing table we [...]

Finding Hidden Homes in Today’s Inventory Drought

By | July 31st, 2012|

It’s been nearly a decade since inventories of homes for sale were so low. Typically, inventories are seasonal, rising in the spring when the home-buying season begins and declining through the fall months as real estate markets quiet down over the holidays. This has not been true in recent memory, however. Inventories have fallen during the spring [...]

What Do Buyers Want in a Home?

By | July 17th, 2012|

Ups and downs continue to dominate the housing market. According to recent data from the United States Census Bureau, the average sales price of new single-family homes sold in 2011 was $267,900—a significant decrease from average prices of $272,900 in 2010, $270,900 in 2009, and $292,600 in 2008. Yet even though many people are pinching pennies [...]

Rent vs. Buy: Renters Want More Amenities

By | July 9th, 2012|

For many, the decision of rent vs. buy is a tough one, but with the housing market still on the mend, more people than ever are renting. Builders are taking notice, and they are hoping to appeal to renters who want a place to call home for the long term. According to a recent study by the National Association [...]

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