Whether you are a first-time home buyer or a longtime homeowner, you will profit from reading "The First-Time Homeowner's Survival Guide" by Sid Davis. He is both an experienced real estate broker and a home renovator so he knows which home repairs and renovations will reflect well in home enjoyment and increased resale value.

The book begins with the basics of repairing and upgrading home electrical systems and plumbing. Davis shares his construction knowledge without becoming super-technical. Photos illustrate his topics.  more...

DEAR BOB: I am buying a new condominium in Waikiki, Hawaii, that will cost more than $1 million. It is being built by a reputable company. Should I pay all cash or should I finance a portion of the purchase price? I'm thinking why pay interest if I don't have to. --Ronald H.

DEAR RONALD: Paying 100 percent cash for any residence is very risky, especially when you are buying in a vacation area where market values tend to fluctuate wildly.

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DEAR BOB: I am a 51-year-old widow of eight years with three children, ages 9, 11 and 15. I earn only about $3,000 per month and my children receive a total of $2,100 per month in Social Security benefits. I have owned my home for six years and currently have a 30-year fixed-rate mortgage at 5.375 percent interest. My monthly payment is $1,279, including $67 PMI (private mortgage insurance) plus $217 for escrowed property taxes and insurance. I have $16,000 in credit card debt at 8 to 10 percent interest, mostly for home improvements and medical expenses, and $125,000 in an IRA.  more...

Nobody, including me, likes to think about death. But it is inevitable, as I was reminded during a recent hospitalization for major surgery. Thankfully, because of the excellent surgeons, nurses and my friends, I came through the experience successfully.

After I recovered, I learned from the doctors I had been very close to death.  more...

DEAR BOB: Can a home seller use the buyer's earnest money good faith deposit to make repairs to the home and not tell the buyer? Or is the deposit used only at the closing? I am concerned because we are purchasing a "for sale by owner" house and I noticed the lawyer already cashed our check. Is this "normal" for the seller to get our money before the sale closes? --Tonya G.  more...

In 1979, Richard Hunt signed an easement deed conveying a 6,138-square-foot easement over his property to the adjoining owners, Thomas and Barbara Young, for "parking and garage purposes." The easement deed was recorded.

In 1998, Donna Lisa Powell and Susan Diana Schmitter bought the property formerly owned by Hunt. Five years later, Barry Blackmore bought the adjoining parcel formerly owned by the Youngs.

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DEAR BOB: When my townhouse was built about 25 years ago, the developer planted a hedge on about 30 feet of land owned by the city. He said he had permission to do so, but no paperwork exists. The city now wants the hedge removed. You have referred to the concepts of adverse possession, prescriptive easements and laches. Can these arguments be used against the city? --Paul H.  more...

If you are serious about avoiding probate costs and delays for your heirs and want to avoid conservatorship court proceedings if you become incapacitated, "The Complete Living Trust Kit and CD-ROM" by attorney Karen Ann Rolcik will show you how. This new book has superb explanations showing how homeowners can benefit their heirs by avoiding costly mistakes.  more...

DEAR BOB: I recently bought my first home. It is on a busy street with a very small front yard and no street parking. Shortly after moving in, I received a notice that the city plans to widen the street and take four feet from the front of my property. This will necessitate taking down a big, old, beautiful tree and leave only a few feet from my house to the sidewalk. A neighbor said all the neighbors knew about the street widening, and the city claims to have notified all owners. What are my rights? The seller said nothing about this on the seller's disclosure statement.  more...

DEAR BOB: We are buying an out-of-state house. The closing is scheduled for about two weeks from now. It is a "for sale by owner," and the sellers aren't too knowledgeable about the sales process. We just received a document from the title company listing the recorded liens against the sellers. The list includes a lien from the state's Bureau of Child Support for more than $12,000 and deferred property taxes for about $2,000. None of these liens were previously disclosed to us. If the sellers are unable to pay these liens at or before the closing, what are our options?  more...

Whether you are buying or selling a home, you will surely encounter title insurance and its seemingly exorbitant cost. Local custom usually determines whether the buyer or seller pays the title insurance premium, or if the fee is split 50-50. But sooner or later, you will pay for title insurance so it pays to understand this unique insurance.

However, no matter what the custom is in your town, everything is negotiable.

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DEAR BOB: We are trying to sell our $3 million, 48-unit apartment complex and have tried to get unbiased information from the state real estate commission, the state board of Realtors and the association of Realtors. We want to know what the typical financial disclosures are for this type of sale. None of the agencies would tell us anything. Every prospective buyer seems to want a rent roll, income and expenses for the last three years, property taxes and more. But we aren't comfortable complying with these requests.  more...

In 1924, the Storek family purchased the three-story Storek office building in San Francisco. In 1969, son Glenn Storek bought a 50 percent interest in the building from family members. After Glenn's father died, the other half of the building was owned by two family trusts.  more...

DEAR BOB: Can a mortgage lender force me to use a specific appraiser when I am in the process of removing my PMI (private mortgage insurance)? --Dave W.

DEAR DAVE: Yes. However, if you don't like the appraiser's evaluation of your home's fair market value, you can hire your own licensed appraiser and then contest the lender's appraisal result.

Purchase Bob Bruss reports online.  more...

DEAR BOB: What is the most cost-effective way for my parents to leave me their home? They want to just add my name to the title. But I would like to avoid as much tax as possible. --Jeannine T.

DEAR JEANNINE: Unless your parents each leave net estates over $2 million, if they die in 2007 federal estate taxes will not be an issue. Your goal should be to avoid probate costs and delays as well as receiving a new stepped-up basis to market value when you inherit the property.  more...