A listing that is advertised as an "as is" sale can be a put-off to buyers. They might assume that something is wrong with the property that will cost a lot to repair. If they have little free time or money, they might decide before even taking a look that this isn't the house for them.  more...

Refinance applications jumped during the first week of 2008, according to a recent weekly survey from the Mortgage Bankers Association. The catalyst was lower interest rates on 30-year fixed-rate mortgages that hovered below 6 percent on average at the end of the first week in January, and rates have fallen further since then.

During the recent years of record home buying, most buyers opted for adjustable-rate mortgages (ARMs) rather than fixed-rate financing.  more...

Most homeowners expect the value of their homes will increase when they spend money on remodeling. However, this is often not the case. The recent Cost vs. Value Report prepared by Remodeling magazine in conjunction with the National Association of Realtors makes this point abundantly clear.  more...

There is no foolproof strategy for buying a property at just the right price. There are several reasons for this. In the first place, although the listing inventory is high in most places, sellers are not equally motivated to sell.

There are sellers who would like to sell, but who don't have to sell. If they don't get their price, they either stay put or rent out the property until the market turns. Sellers who don't need to sell are often resistant to negotiating the price.  more...

Sellers who anticipate losing money if they sell their home may wonder why they should spend a dime fixing the place up for sale. Isn't this throwing good money after bad? Even sellers with plenty of equity in their homes often figure the way to get the most out of the sale is to cut sale costs to a minimum.

This attitude is directly contrary to the notion that the way to make the most money on the sale of a home is by pricing the property appropriately for the market, and by making cost-effective improvements that will result in a higher sale price in a shorter time.  more...

Several years ago, a home listed for sale developed a stigma if it didn't sell within a month or two. Today, many sellers have homes listed that have been on the market for six months or longer. In fact, it's so commonplace for it to take a significant time to sell a house that it is no longer a disgrace if a listing doesn't sell right away.  more...

It is common for sellers to obtain inspections of their homes before they put them on the market. These reports, called presale inspections, are then assembled with the sellers' disclosures into a disclosure package of documents about the property. Disclosure packages are made available to prospective buyers who have serious interest in the property so that they can review the property information before making an offer.  more...

Generally, existing-home sales have declined broadly over the past year. Some economists don't see a significant improvement in the home-sale market happening for perhaps another year or so. However, according to a report issued by the National Association of Realtors (NAR) in November 2007, home prices in most metropolitan areas rose or were stable in the third quarter of this year. Some markets even showed modest gains compared to a year ago.  more...

In most areas of the country, 2007 marked a change in the residential home-sale market. Buyers gained clout for the first time in over a decade. Inventories of homes for sale grew to record levels in some places. Price reductions, which carried a negative stigma when listings were easy to sell, came to be seen as a necessary part of the home-sale process.

That is not to say that price reductions are a good thing. They are not. The initial marketing effort is a prime opportunity to attract attention to a new listing.  more...

Mortgage interest rates dropped recently and home prices have moderated in many areas, making it a good time to buy.  more...

When the housing market slows down, buyers often wait on the sidelines for a clear sign that the market has recovered. The only problem with this strategy is that you can only know for sure that a market has turned through hindsight. In other words, you can't time the market.

A slow market is perceived as an opportunity by some buyers, as it takes longer for listings to sell. The inventory of unsold listings tends to grow, giving buyers more choice than is the case in a hot seller's market when listings sell quickly.  more...

People attend Sunday open houses for all sorts of reasons. There are curiosity seekers; neighbors might stop by to see a house if it hasn't been on the market in years; and some come in search of decorating ideas or to check out prices in the neighborhood. In other words, most people who walk through an open house aren't really buyers.

This fact infuriates some sellers who feel that public open houses are a waste of time for everyone except perhaps the agent holding the house open who might pick up a client.  more...

Few homeowners cheer when home prices soften, but a soft market can actually benefit homeowners who have been waiting for a prime time to move up to a larger home or to a more expensive home in a better neighborhood.

Let's say home prices declined 10 percent in your area during the past year. This decline affected all price ranges equally. So, if you owned a house that was worth $600,000 last year, it would be worth only $540,000 today.  more...

It wasn't too long ago when it didn't matter as much which real estate agent you chose to sell your house if it was located in one of the many hot seller markets. Listings sold without much assistance; many soon after the for-sale sign went up. Today, choosing the right agent for the job can make the difference between a sale and no sale.

There are many factors to consider in selecting an agent today. One is that many of the agents working now entered the business recently. They've never seen a softer home-sale market before.  more...