Inventories of homes for sale are so low this spring that bidding wars are breaking out in overheated real estate markets. Rising prices and shrinking supplies are hitting buyers with a double whammy as they anxiously scroll through limited choices to find a house to buy before prices and mortgage rates rise even more. In [...]
How to find an honest real estate agent. Ask about the agent's real estate commission. Ilyce Glink explains more on agent commissions in Today's Real Estate Minutes. Can you trust your real estate agent? A better question might be: Do you know how your agent is being paid? By law there is no standard real [...]
Do you know what a seller disclosure is? Home buyers should go over the required seller disclosures before making an offer. As a buyer, you’ve got find out everything you can about the condition of a home before you even make an offer. Seller disclosure requires a home seller to tell you about any defects [...]
Quit claim deed tax implications can come in many forms. Selling a house with multiple owners can be tricky when paying taxes. Q: I own a house with my brother that we bought for $243,000. We now plan to sell it for about $323,000. My brother lived in it until last year and then rented [...]
Thinking about selling your home to a family member? Get a home value estimate first to double check your home's real market value. Q: Our parents left their home to me and my two sisters. The home is located in Oklahoma and was appraised at $49,000 three years ago. The home has a mortgage with [...]
During your home closing keep a copy of mortgage lender's good faith estimate handy. For home closing tips, check out today's Real Estate Minute. Whether you’re buying or selling, you must keep a paper trail of the transaction, or you could get into big trouble. To keep your mortgage lender honest during your closing, keep [...]
If you decide to sell your home without a real estate agent, then you should consider using a multiple listing service to sell your home. Q: I have finally had it with real estate agents and have decided to use a for sale by owner (FSBO) web service. The company offers a few different options [...]
If you're having trouble selling your home, don't blame the real estate agent. It could just be the real estate market in your neighborhood. Q: I’ve been trying to sell my house for the past few years and have hired and fired a bunch of agents because none of them was able to find a buyer. [...]
Selling you home in a short sale: Is a short sale worth it? A short sale can affect your credit, but you get a break from the IRS in 2013. Q: Our daughter and son-in-law are looking into using a company that sells new homes but agrees to lease your current residence for six months. [...]
If you’re thinking about buying or selling a house soon, you’ve likely heard talk of “buyers’ markets” and “sellers’ markets.” Simply put, a buyers’ market occurs when there are more homes for sale than available buyers. Conversely, in a sellers’ market, demand outstrips supply. In 2013, should the fragile housing recovery proceed as most experts [...]
