Buyers Reports

There is no guarantee that real estate will continue to escalate in value as it has been doing over these past few years. Just ask anyone who purchased at the peak of the real estate market in the late l980's. Many owners found that their mortgage was greater than the depreciated value of their house, and it was not until the mid l990's that they were back in the black. How would you feel if you purchased a condominium unit today for $275,000, obtained a mortgage for $247,500 (i.e. 90 percent loan to value), and suddenly your unit was only worth $245,000? Make no mistake: while I unconditionally encourage everyone to be a homeowner, it may not be your greatest investment. Having dampened your enthusiasm, let's now turn to the other part of your question…

If you're one of the growing numbers of homeowners opting for a condo, you shouldn't consider the buying process any different than if you are buying a single-family home - especially when it comes to the home inspection. With condo sales on the rise and buyers gravitating toward higher-priced units, putting the condo - and yourself - through the rigors of a home inspection will always be worth the investment. In April, May, and June this year some 831,000 existing condos and co-ops were sold, according to the National Association of Realtors. A co-op is an apartment building in which you own a share of a corporation whose main asset is the building in which you live…

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. An inspection involves a qualified professional who will take an objective look at the condition of the property and prepare a report. But it's also important that you, as the buyer, carefully inspect every foot of the house for things that might not be included in the professional inspection, as well as the things that are, like the systems - heating, cooling, plumbing, electrical service, and the water heater…

In the Southern U.S. it is not unusual to pass by many mobile home parks on the way to an everyday destination. They were - and still are - considered a vital part of many communities across the country and may offer a viable alternative to traditional housing for households seeking an affordable home of their own.. For some, a manufactured home can fulfill their dream of homeownership. Fortunately, the industry has gone through many changes in the last 25 years to assure quality and safety in the construction of manufactured houses…

Couples today are breaking away from the typical crystal, China and silver gift registries when it comes to asking for wedding gifts. Since a new marriage can often mean time for a new house, many couples are throwing tradition to the wind and asking for extremely practical gifts -- like money toward a down payment or tools to keep their new house humming. Money has always been a popular wedding gift, and now some couples are making it clear it would be the gift of choice. They're going to their brokers to set up special joint accounts that are targeted toward a down payment…

Yearning for a brand, spanking new home but don't have any cash for a down payment? That may no longer be a problem under a new "strategic partnership" announced recently between the Nehemiah Corp. and the Homebuilders Financial Network. Under the terms of the alliance, Nehemiah will offer down payment assistance to cash-starved buyers who have their eyes on houses built by any of the 20 builders throughout the nation whose in-house mortgage operations are run by HFN…

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 you may become so wrapped up in the physical aspects of the house -- the rooms, amenities, and structure -- that you give less attention to quiet issues which may strongly impact your ability to enjoy a home. What kinds of factors will affect your quality of life? The obvious ones are the first to come to mind: the distance to work, the special programs available through the local school system, and neighborhood shopping and recreation. Those factors, while important, may not touch the issues specific to your situation. Consider the thousands of families who have an aging parent residing with them…

Periodically you may hear from individuals who want to make $1 million in real estate -- quickly and with no money down. Usually they want to know more about real estate foreclosures -- how to buy them and how to profit from such homes. Foreclosure properties can be a good place to invest for exponential growth (or loss). There are some deals out there for little or no money down, but potential investors should take precautions because foreclosed properties can involve significant risks…

If you're preparing to buy a house during what is typically the busiest buying and selling time of the year, then offers may be flying, loans may seem confusing, and everything may be moving way too fast. This is why it's important to do everything you can to protect yourself throughout the entire home buying process. Low mortgage interest rates and a strong underlying demand for housing drove total state existing-home sales to a new record in the first quarter of 2003 with 34 states experiencing sales increases over the first quarter of 2002, according to the National Association of Realtors. According to the NAR, many states that saw sales decline actually had a shortage of homes for sale - and the biggest price increases…

Each year more than 40 percent of all homes are purchased by first-time buyers according to the National Association of Realtors, a percentage which should offer some comfort if you're about to buy a first home. Others have done it, others are doing it, and you can too. But like most things, there are ways to make the process easier. Here in capsule form are 10 baseline strategies to make that first purchase a good experience…