If you are relying on a real estate website to gauge the current value of your home, chances are you will either under- or overvalue your property. As convenient as these websites are, they utilize information that is outdated, incomplete, or simply incomprehensibly wrong while also using algorithms (mathematical instructions used to interpret information) that can change with unnerving frequency. As a result of so many fluctuations and potentially inaccurate and/or incorrect data inputs, homeowners may wake up to…

Imagine purchasing a piece of property that is not what it claimed to be. Such is the stuff of nightmares, which is why lenders insist on title insurance. Although other types of insurance may insure against future events, title insurance covers claims based on past events that have created a defect in land title caused by public-record errors, forgeries, incorrect marital statements, and the like. For a one-time premium, property owners can expect title coverage that extends for the…

Many seniors are foregoing thoughts of moving away to warmer climates or retirement homes in favor of remaining where they now reside. Surveys indicate that “aging in place” is the overwhelming preference of Americans over the age of 50. This apparent shift in attitude represents a real opportunity for sellers with homes that cater to older adults who want to live more simply. Among the features that aging-in-place buyers want is one-story living and “universal design.” Elements in this…

Not everyone has a firm idea about what neighborhood they want to live in. Such is often the case with people who must relocate their families as a matter of career advancement. Professionals who find themselves in this position often must rely on a relocation expert to provide them with an honest and adequate portrayal of their new community. With this in mind, real estate agents with familiarity of local areas can coordinate appointments with counselors at area schools,…

Homeowners should be cautious in their selection of home improvements in terms of their ability to attract buyers and improve their homes’ value. In 2011, U.S. homeowners recouped 58 cents for each remodeling dollar spent, on average, compared with a 76% return on new projects in 2005. Of course, some projects do better than others. For instance, replacing a front door with a 20-gauge steel door not only increases “curb appeal,” but the improvement also returned an average 73%…

One measure that experts use to gauge housing affordability is known as the “Median Multiple,” which is the annual pre-tax median house price divided by the median household income. Generally speaking, in the decades following the Second World War, a ratio below 3.0 has been considered to be the benchmark of affordability. Therefore, it may come as welcome news that this ratio recently registered a 2.6 after having reached higher than 5.0 during the recent housing bubble. This is…

Every day the news media report statistics, sometimes with confusing and conflicting messages. Housing is up! Housing is down! Interest rates are low—buy now! The market hasn’t bottomed yet—better wait! The average consumer considering a move isn’t sure which way to go. Numbers, percentages, pie graphs, flowcharts—splashed across websites and magazine pages, all claiming to be the final word on the current Real Estate Market. Questions and confusion abound, and the consumer is paralyzed, afraid to make the wrong…

By Elizabeth Weintraub, About.com Guide

It’s not uncommon for a first-time home buyer to say to me, “Gosh, just last week I called you about buying a home and now I’m in escrow! How did this happen so fast?”The answer is it didn’t. First-time home buyers start the search long before most even realize it.

Here’s what you can expect from your home shopping experience.

Benefits for a First-Time Home Buyer

You should buy a home. That’s what you’ve been hearing from friends…

Sellers must know what the pool of potential buyers is made up of if they expect to market their homes successfully. With this in mind, it pays to know that, while married couples still make up the majority of buyers, singles also cast a significant shadow. According to the 2010 National Association of Realtors® Profile of Home Buyers and Sellers, single individuals represented more than a third (38 percent) of first-time buyers and 26 percent of repeat home buyers….

If you are relying on a real estate website to gauge the current value of your home, chances are you will either under- or overvalue your property. As convenient as these websites are, they utilize information that is outdated, incomplete, or simply incomprehensibly wrong while also using algorithms (mathematical instructions used to interpret information) that can change with unnerving frequency. As a result of so many fluctuations and potentially inaccurate and/or incorrect data inputs, homeowners may wake up to…