Sellers

During a recent tour of a town-home for sale, I was struck at the owner's apparent apathy for increasing her odds. My Realtor and I tripped over a pile of tennis shoes in the front entryway. Newspapers were littered about the living room floor. A pile of shirts drooped over the recliner. The morning's breakfast dishes were still on the table, being hungrily eyed by a pair of dogs confined to another section of the kitchen behind a baby gate. We walked out to the backyard to discover overgrown grass, chipped and peeling paint, and dog toys strewn about the lawn. The truth is that the town-home had potential, but after being met with this display, I had little interest in heading upstairs to view the bedrooms. It didn't dawn on me until that moment that how owners display their homes during showings is critical. Even in hot markets like Dallas, buyers are savvy enough to know that they have plenty of other options -- homes which have been well-maintained and convey the owner's sense of pride…

A growing number of people are getting into the swing by buying a home at one of the nation's many new golf communities. The National Golf Foundation reports that since 1986, the number of golfers in the United States has jumped 34 percent. During that time, the number of residential golf communities has also been on the rise. In fact, the NGF says about 45 percent of golf course construction today is part of a residential community. Golf communities are alluring to golfers and non-golfers alike and appeal to a wide range of age groups. In addition to the golf course, many of the communities offer a host of other amenities, such as swimming pools, baseball and softball fields, basketball, volleyball and tennis courts, and hiking, biking and equestrian trails. Some also feature a community recreation center, club house, restaurant, and reception areas…

If you've decided to sell your home, chances are you're caught up in a host of emotions. You may be looking forward to moving up to a new dream house or facing the uncertainty of a major move across country. You may be reluctant to leave your memories behind or eager to start new adventures. Whatever turbulent feelings you're experiencing right now, there are plenty of practical matters that need your attention…

Generally speaking, and in the absence of a contractual agreement to the contrary, fixtures remain with the house. Personal items can be removed by the seller. As one can see, it certainly makes a difference if an item is characterized "personal property" or "fixtures." For example, can a seller take a removable wet bar from the basement, even though the plumbing is hooked up? Does a window air conditioning unit convey with the property? There are no easy answers to any of these questions…

If you believe what it says, late night TV is full of great ways to invest in real estate. Most investors - they seem to suggest - are looking at big paybacks with no money down. That's unlikely, like going to the store to buy a watermelon and offering to pay for it with a paperclip (a highly-unlikely feat which my daughter successfully managed to do this summer at camp). It takes forethought and preparation to be successful in real estate. You also need to realize that buying real estate is investing and with investing there is risk: If you don't know what you're doing, you can make a costly mistake…

An appraisal assists the mortgage lender in assessing the value of the house to determine whether a mortgage should be made and in what amount. Generally, the appraisal will analyze the condition of the house, its location, structural soundness and comparable sales in the area. A survey, on the other hand, goes to the question of the marketability of the house. The surveyor determines whether the house is within the property borders, whether there are any encroachments on the property by neighbors and the extent to which any easements on the property may affect legal title…

As we enter the sweltering days of late spring and early summer, homebuyers' thoughts will naturally turn to patios, decks, landscaping, air conditioning, and in some cases, pools. So if your home is on the market, you'll want to make sure your house is in top order and summer-friendly. Spring, particularly March and April, is typically the time of year that garners the most home sales; summer runs a close second…

Getting help to spruce up the inside of your home is as close as the phone, mouse or remote control. Today's homeowners have lots of options when it comes to interior design. While hiring a professional to turn your house into a dream home is certainly one way to go, there are lots of other places you can turn for help that won't cost a penny. With enough time and effort, anyone can become a Martha Stewart by turning to Martha Stewart herself…

While it may sometimes appear that your home inspection is the end-all, tell-all, it isn't. Home inspectors occasionally make mistakes, which is why it's important to carefully review everything that comes to light in the inspection process and question findings that don't add up. The average home has more than 60,000 pieces and parts to it. Short of being able to see through walls, predict cracks where none is showing, and test every single element of your home, even the best home inspector has to rely on representative samplings, coupled with experience and up-to-date product and systems information in tracking down faulty points…

What do many homeowners want to hear after a long day at work? Perhaps it's the sound of nothing. In the age of talking appliances, chiming pagers and musical cell phones, Americans tend to savor their quiet times above all. The problem is most homes are not built for quiet…

Who needs seller financing? Most people think that it's for those who have damaged credit, or could not otherwise obtain conventional financing. That may be the case, and if indeed you have some credit issues that require seller financing, be prepared for the following terms…

"Facts, m'am. Just the facts" was the constant refrain of Sergeant Joe Friday of the television series "Dragnet" in the 1950s. More than fifty years later in the real estate industry, a very special type of sergeant, the buyer's agent, performs an equally valuable service -- dispensing and interpreting facts for his buyer/client. The buyer' agent's mission? To provide the client with a high-level of interpretation, even if it means walking away from the bulk of compensation should a sale not be consummated?…

Many would-be home buyers are dismayed at the ever-increasing price of their rent and housing in general. In addition, they just can't seem to make enough money top afford the purchase of a home. They are in industries that will not provide them more opportunity than what they have now. As an example, someone who's salary was at $15,000 and though there are houses priced about $50,000, their debt to salary ratio knocks them out of the buying arena at this time. They can't see homeownership as a part of his future. For people in this situation there is hope.. Someone making $15,000 could purchase a house in several markets with today's interest rates…

A buyer who finds that one special home may wonder why the present owner is selling. The reason could be as benign as a job transfer, or as nasty as a divorce with arduous negotiations. Can buyers ask why a home is being sold? Or are such questions somehow unfair, something that goes in the "MYOB" (Mind Your Own Business) category? As a buyer, you should know more about the home than the number of bedrooms and baths…

If you've been waiting to get through the holidays and closer to warmer weather before beginning the search to buy your first home, you're not alone. The traditionally busy spring real estate season is just around the corner, meaning heavy competition looms. But there are things you can do as a potential homebuyer to get a head start. The number of home sales in 2002 shattered records with 5.56 million existing and 979,000 new homes sold throughout the country, according to National Association of Realtors chief economist David Lereah…

What is PMI? Although the borrower pays the monthly (or annual) premium, this insurance is solely for the benefit of the lender. It is designed to protect the lender should they have to foreclose on your property, and the price that the property is sold at a foreclosure sale does not equal the outstanding balance on your mortgage loan. Unfortunately, although many lawyers believe that the monthly PMI premium can legally be deducted as "mortgage interest", the Internal Revenue Service takes a strong position that such payments are not deductible…

Don't be discouraged about this scenario, however. Keep in mind with 30-year fixed rate mortgages going for under 6 percent right now, high interest rates in today's market, means 8 - 10 percent. My first mortgage was a 2-1 buy down with perfect credit and my interest rate started at 10 percent and went up a percentage point per year for the next two years - interest rates are really all a matter of perspective. Should you wait to sell/buy property? I get this question a lot. Real estate is a great investment no matter when you buy - if you're willing to let time work in your favor. Obviously, there are peaks and valleys in the real estate market just like any other investment…

I am currently in escrow on a house. We had the inspection done yesterday. There are a few major concerns of which we were unaware. The largest is a faulty shower pan, which has been leaking for several years and has caused substantial damage to the sub-flooring. What is the best way to handle this? Allow the seller to choose the method and company to repair this? Or should I have a professional estimate the costs, then ask for cash from the seller so as to allow myself control over the work? I would like to know the best way to negotiate an allowance (or discount off sales price) for these items. I don't expect the house to be restored to perfect condition for me, but I've heard of parties negotiating on such items…

The largest numbers of second homes are in states with large populations. The greatest percentage of second homes is in smaller and less populous states. The most popular locations for second homes are near bodies of water and mountains and second home buyers prefer rural settings to those more urban, but in most cases, second homes are within less than a day's drive from the primary residence. Second homes are everywhere. Among the 359,000 second homes sold last year, second homes were found in every state and in every region, according to the National Association of Realtors' "2002 Profile of Home Buyers and Sellers"…

Private Mortgage Insurance (PMI). PMI is a monthly fee that the borrower pays if the first trust loan exceeds 80 percent of the purchase price. Since a lower down payment results in a statistically higher risk to the lender, PMI insures a portion of the loan to reduce the risk to the lender. Thanks to creative lenders, however, a borrower can still put as little as no money down and avoid PMI by taking out two loans. Ask your loan officer about loan packages with no PMI, sometimes called "piggy-back" financing…

In recent years condos have become the prime residential real estate investment and the best may be yet to come. Since 1996, condo prices have risen 23 percent, at an annual rate of 5.1 percent compared to new homes rising 21 percent since 1996 or 4.8 percent a year and resale homes rising 20 percent since 1996 or 4.7 percent a year, according to the National Association of Realtors…

High-tech advances hold out the promise of home computers that can adjust the thermostat, control the lights, start dinner, track appointments, entertain the kids, mow the lawn, let the dog out -- the possibilities are endless. In its housing forecast for this decade, the National Association of Home Builders predicts new homes will include more and more high-tech features. Still, does everyone want technology to control that much of their lives? That's the question the Oakland, California, market research firm American LIVES set out to answer with a survey of recent homebuyers…

What is a home inspection? A home inspection is an objective visual examination of the physical structure and systems of a home, from the roof to the foundation. The standard home inspector's report will include an evaluation of the condition of the home's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure. Having a home inspected is like giving it a physical check©up. If problems or symptoms are found, the inspector will refer you to the appropriate specialist or tradesperson for further evaluation…

The price of oil has shot up in recent years, a matter which could seriously impact the real estate marketplace. What's the tie between energy costs and real estate? One connection is that if we are truly at the end of a brief recession, then the economy should begin to expand and as it grows it will require more energy…

Going through the arduous process of buying a house may leave you with all the stress you can handle. But don't forget your kids. The thought of a new house usually brings pangs of anxiety as they think about being the "new kid" - especially if you're moving in the middle of the school year. Rest assured yours isn't the only family to go through this experience. The U.S. Census Bureau says that some 43 million Americans moved during a one-year period tracked from March 1999 to March 2000…

Check with your local U.S. Department of Agriculture for regulations regarding moving plants from one state to another. Many states have restrictions on certain plants to prevent importing bugs or pests that can destroy valuable cash crops. A couple of weeks before you move, prune plants to facilitate packing. Consult a florist or a plant book for instructions. A week before your move place your plants in a black plastic bag, along with a bug/pest strip, conventional flea collar or bug powder…

Title Insurance Buying any kind of real estate could very well represent the largest single investment a person ever makes. And real estate, like every other thing of value, is worth protecting. A policy of Title Insurance is a contract of indemnity between the insured and the insuring company relating to the title to the land described in the policy, protecting the insured against loss of damage by reason of defects, liens or encumbrances of the insured title existing at the date of the policy and not expressly accepted from its coverage…

A home inspection is an objective visual examination of the physical structure and systems of a home, from the roof to the foundation. The standard home inspector's report will include an evaluation of the condition of the home's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure. Having a home inspected is like giving it a physical check©up. If problems or symptoms are found, the inspector will refer you to the appropriate specialist or tradesperson for further evaluation…

Replace old appliances with Energy Star rated appliances, turn in all your incandescent lamps and fixtures for fluorescent lamps and fixtures, perform several energy efficient home improvements and you can boost the value of your home by almost $18,000, according to a return on investment study of 10 energy efficient home improvements…

You've been pretty good about keeping your credit rating up. Always pay on time, every time. There may have been a late payment or two a few years back but you never took anyone for their money. But today you got a phone call from your loan officer wanting "credit explanations" regarding some items that happened about two years ago. What could the problem be?…

There are several advantages to having a realtor when buying commercial estate. Realtors will almost invariably save you money, by lowering your opportunity costs. The following are three specific ways a realtor will save you money…

Detroit is currently experiencing an overall shift of much of its industrial and office activity from the city center to the suburban markets. With this in mind the Detroit market is staying pretty level in vacancy rates for both industrial and office space at 14.04% and 16.71% respectively. While leasing activity has increase dramatically for both Warehouse/Manufacturing and Research and Development/High-Tech…

Boston is enjoying the fruits of an increasingly robust economy. The Federal Reserve just issued a positive economic report for both commercial real estate markets and the commercial sector as a whole. The Fed reported that "Boston activity continues to gain strength, retailers and manufacturers report growth in sales and orders. Demand for software and information technology services as well as temp workers are also rising." The Fed further reports that "Commercial real estate markets may be stabilizing."…

The Federal Reserve reports that the Chicago "economy expanded solidly." In this quarter's report the Fed states that Chicago's expanding economy is due in large part to a "broader-based advance in manufacturing." The Fed reported that "Economy expanded solidly in late April and May, due in part to a stronger, broader-based advance in manufacturing. Consumer and business spending increased and hiring picked up…

Boise Remains Stable amidst uncertainty. Investment real estate demand remained strong in Boise during 2003 and is expected to expand during the coming years. The highest premiums have been paid for single-tenant, triple-net leased properties with credit tenants and remaining terms greater than five years. Additionally high vacancies have seemed to stabilize in what analysts predict is a preparation to lowering…

Charleston S.C. enjoys economic gains for commercial investors The past year has been very positive for Charleston's overall commercial real estate economy. The city has rejoiced along with the nation in being a part of the overall national trend toward economic recovery. Charleston is well into a recovery and is showing signs of long-term growth. In particular Charleston has experienced a real growth in the office market. Growth in the market was a combination of new speculative development, corporate build-to-suit activity and adaptive re-use of older facilities…

As this year marches on, Bakersfield CA continues to show strong returns in the commercial real estate sector. The strong commercial market is being fueled by a robust internal population growth. Bakersfield grew 28.1% from 1990-2000, compared with a 13.8% state average for the same period. The city of Bakersfield is expected to grow by 14.4% over from 200-2007 (compared to a 7.5% state rate)…

According to the Federal Reserve "Economic activity continued to expand" in Dallas. The expansion has been led by increased manufacturing activity and demand for business services. The Fed reported that "Economic activity continued to expand from mid-April to early June. Manufacturing activity was up. Demand for business services is increasing but remains slower than contacts expected…

Baltimore Hangs On To Industrial Growth. The Baltimore market has remained steady throughout the recession years. In 2003 it absorbed as much space as it added - 2.3 million square feet of bulk distribution, flex, and office-warehouse space. This consistent behavior is expected to be the foundation for greater economic growth in the coming year…

When buying commercial real estate it is vital that you carefully consider its location. Buying in the correct location for you and your business can make or break the money making potential of your purchase. The first thing you must determine is what exactly your needs are. Take the time to make a careful list of all the things that you will need from your commercial property…