Lenders' underwriters are scrutinizing all aspects of the mortgage process, not just the borrower's creditworthiness. Even a borrower with a high credit score, a cash down payment and verifiable income can run into snags in the mortgage approval process today if the lender's underwriters are concerned about the value of the property.  more...

Up until the recent slowdown, homeowners in many parts of the country saw the value of their homes rise rapidly. Home prices, in many areas, seemed to move in just one direction: up.

A combination of record-low interest rates and rapid price appreciation turned many homeowners into serial refinancers. When interest rates dropped, one mortgage was exchanged for another, sometimes several times within one year.  more...

Should you invest a good sum of money in your home if housing prices in your area are flat or declining? When home prices are escalating, adding more money to an asset that's increasing rapidly in value is a no-brainer. But given current market conditions, it's more important to consider the financial ramification of a renovation before giving your contractor the green light.  more...

Interest rates on jumbo mortgages jumped about 3/4 percent in mid-August. Before settling for higher rates or giving up altogether, consider the following ways you might lower your financing costs.

Even though jumbos increased in price, conforming rates -- for mortgage amounts up to $417,000 -- decreased. On Aug. 20, for example, it was possible to find a 30-year fixed-rate conforming mortgage for 6.25 percent and one point. At the same time, jumbo mortgages over $417,000 were going for 7.25 percent and one point.  more...

How would you feel if you bought a home that seemed perfect, only to find out you couldn't use the property like you thought you could?

One buyer bought a home with a good-sized yard that he thought would be perfect for his large dogs to roam free. Soon after the sale closed, he hired a contractor to construct a fence around the property. The day the work started, a neighbor showed up to inform the new homeowner that he couldn't completely fence the property because of an easement that ran across his property.  more...

The housing market is soft. Hard times for some can mean opportunity time for others. Could now be a good time to step into the housing marker and pick up a bargain?

Generally, it is a better time to be a buyer than a seller, but this is not so in every market. In San Francisco, for example, there are still more buyers than sellers for prime upper-end properties. You're not likely to pick up a bargain there.  more...

Even though the home-sale market is slow, some listings sell quickly. Others don't. What accounts for the difference?

The volume of homes sold is down as much as 20 percent or more in some areas compared to a year ago. Concurrently, the listing inventory has increased 40 percent or more in some markets. The odds of having a quick sale decrease when lower sales volume is combined with more listings of homes for sale.  more...

Most home buyers are resistant to selling their current home before they already have another one tied up. This means buying before selling, which carries an element of risk.

One way to approach such a move, if market conditions permit, is to make an offer on the new home that is contingent upon the sale of your current home. This way, you don't put cash down on the new place until you have your equity out of the home you're selling.  more...

According to the media, now is one of the worst times to consider selling a home. However, although the national statistics don't paint a rosy picture, some sellers are finding success in this market. It all depends on what you have to sell -- house or condo, where it's located, what kind of condition it's in, and how well it's priced for the market.  more...

Last year, the home sale market began to slow, causing many buyers to postpone buying hoping that prices would drop. In fact, in some areas and in some segments of the market, prices have declined. However, in high-demand markets like San Francisco, Austin and Seattle, prices increased compared to a year ago, particularly for upper-end properties.  more...

It's hard to avoid negative news about the mortgage lending business. Defaults are rising, subprime lenders are closing shop, and fortunes could be lost as mortgage-backed securities go up in smoke. Sounds ominous, but how will these trends impact someone who's trying to buy or sell a home?

The first thing to understand is that lenders are moving back to basics. No- and very low-down-payment mortgages are available only to buyers with high credit scores. This means no more 100 percent and 95 percent mortgages for subprime borrowers.  more...

In a hot seller's market, setting a list price that's lower than market value can be an effective strategy as long as you combine it with an aggressive marketing campaign. The theory behind this approach: If you expose an underpriced listing to a broad-enough segment of the market before accepting offers, the market will establish the price through a process of competitive bidding.  more...

You want the home you buy to include certain features, but you're not likely to find all of them in one house for the price you'll be willing to pay. You can compromise on location, home features such as size, condition, price, or all of these. Just make sure that the tradeoffs you make are carefully considered and that they don't compromise your quality of life.  more...

Nationally, home sales declined 4.1 percent in 2006 from 2005. But, vacation-home sales rose 4.7 percent in 2006 to a record 1.07 million sales, according to the National Association of Realtors (NAR). The increased interest in buying vacation homes for personal use rather than rental is expected to continue throughout this decade.

The annual Investment and Vacation Home Buyers Survey from NAR found that vacation-home buyers intend to hold on to their property for a median of 10 years. Thirty-eight percent of respondents plan to keep their property for 11 years or more.  more...

There are few certainties in the home-sale market. However, there's one thing you can count on. If your neighbors have been harboring a concern about an issue affecting your property, you will surely hear about it when the for-sale sign goes up in front of your house.  more...