Home Buyers Who Walk Away from Closing Escrow
Walking away from closing happens more often in buyer's markets than in seller's markets. That's because in buyer's markets, when prices are soft, some buyers become frightened when they should be jumping for joy. Many are afraid of further declines in the market and don't feel comfortable because all their friends aren't buying.
The ...
Did Your Home Inspector Check the Essentials?
Home buyers have it drilled into their heads that they need to get a home inspection. In California, for example, real estate agents advise home buyers to do a home inspection 15 ways from Sunday. Our purchase contracts contain two pages that talk about doing a home inspection, and those two pages are repeated in the buyer's broker agreement. ...
Lots of savvy home buyers want to hit the jackpot and buy that REO foreclosed home, many of which are often under-priced. When banks price REOs under the comparable sales, multiple offers are often the response. This means you could be up against stiff competition for that bank-owned home.
It's not unusual for some REO homes in Sacramento to receive 15 or 20 offers. Sometimes the bank will throw ...
Myths About Agents: What's True and What's Not
Just when you think you've found out everything you need to know about the "dirty, little secrets agents don't want you to know" from a bazillion of misinformed and, in all fairness, probably well meaning Web sites, here's what you really need to know:
Forget the hype. Forget the books you need to buy, the online services you need to subscribe ...
How To Prepare Your House For Sale
The first step to preparing a home for sale is to let go of your emotional attachment to it.
Here's How:
Disassociate Yourself With Your Home.
Say to yourself, "This is not my home; it is a house -- a product to be sold much like a box of cereal on the grocery store shelf.
Make the mental decision to "let go" of your emotions and ...
Understanding Points, Rates and Fees
Not only do you have to understand what type of mortgage you should choose, you have to understand the costs associated with your mortgage. All of these costs will be paid upon closing your mortgage.
Purchase Points
Purchase points, also known as a "buy-down" or "discount points," are an up-front fee paid to the lender at closing to buy-down or lower ...
Heating and Cooling System Maintenance
Air conditioners, furnaces, and heat pumps help regulate the temperature in your home and make it more comfortable. To ensure that your heating and cooling systems remain effective and efficient, regular maintenance is needed. Preventative checkups may also prolong the life of your systems. Maintenance requirements vary depending on the type of system, so it ...
You've found a home you want to buy, but how much should you offer to pay for it?
One of the most perplexing points in the home-buying process is the decision of how much to offer for the home you want to buy. If you offer "too much," you might experience buyer’s remorse or feel the house was "overpriced." Yet if you offer "too little," you might infuriate the seller and lose your ...
Buying vs. Renting
A home is one of the most expensive purchases most of us will ever make during our lifetime. Whether you decide to rent or buy, either choice comes with its own rewards and risks. Homeownership offers many advantages over renting including:
Advantages of Buying versus Renting
BuyingRenting
Tax write-off
No tax write-off
You can upgrade your home ...
If you haven't looked into refinancing your mortgage under federal programs, you could be missing an opportunity to save money, keep your home and give the economy a little juice.
Federal mortgage refinance programs have given more than 2 million homeowners a better shot at holding on and the economy a much needed shot in the arm.
What's more, the year began with fixed interest rates hovering slightly ...