DEAR BOB: Thank you for your recent article about home appraisals. We had a similar situation. When my wife and I bought our home, we applied for a mortgage at the bank where we've done business for many years, and where my company has done business as well. All went well until the bank's appraiser said our new home was worth about $23,000 less than the price we offered and the seller accepted. Phone calls to the appraiser and the bank loan officer did no good. So we applied for a mortgage with my wife's credit union (where she has a small account).  more...

It is often said that the first offer you receive when selling a home is likely to be the best offer you'll receive. Yet, experience shows this is not necessarily so.

Recently a home seller in the Oakland Hills in Northern California received a low offer soon after he put his home on the market. The buyer liked the property, but he felt that he needed to make a lot of changes to make the house suit his needs. This was reflected in his low price.  more...