Real estate agents use comparable sales or “comps” (properties recently sold in the area) to see what the market bears for a listing price or value range marketing. But what makes a home a good comp? A few things must line up in order for the agent to utilize the comp to justify your listing price. The same neighborhood, school district, similar street and, of course, similar housing features and size. If these things align, then a...

You’ve probably heard it all over media outlets. “Affordability is at an all-time high.” “Interest rates are below 4.0 percent!” The question remains, however, why buy a home? What do these proclamations actually mean for you? Let’s look at these claims. Affordability is at an all-time high. This is calculated by a ratio of median household income to median home prices for any given area. According to the...

Typically foreclosures – or real estate owned (REO) properties – are a very good buy. They’re priced to sell, and buyers are likely to get a great deal IF you and your real estate agent are knowledgeable about the procedures and pitfalls you’re likely to face. It happens all too often. Buyers aren’t aware of how different REO’s are from typical homeowner re-sales. Here are some things to keep in mind: The bank rules. They’ll dictate how the...

If you’re selling your home then you should know that one of the popular rooms that tops buyers’ favorites list is the kitchen. So it makes sense to spend time, energy, and even a little money to make it shine. That thought can make some sellers cringe. The thought of spending money to fix up a kitchen in a home that they’re about ready to sell is unpalatable. However, it could make the difference between a buyer making a...

Despite many programs to help underwater homeowners, the financial crisis continues and foreclosures loom throughout the country. Some experts say the housing answer is not just lowering interest rates but also actually reducing principal. In other words, these experts are encouraging banks to write down the principal and interest rates to current market value, which according to some experts would save homeowners $71 billion each year....