The Costs of Closing
By Lee Cameron 

Whether you are buying or selling, closing a sale can be costly. There is a lot to think about above and beyond what the mortgage payments will be.

Firstly, there's the down payment. The more you can afford, the less your loan will be, but while the standard minimum required used to be about 10%, many new programs are available that allow the buyer to have only 0-5% down. Keep in mind that with no money down you will need to have an amazing credit rating and Private Mortgage Insurance (PMI) will be required. For the lending institution to determine your credit, you must pay a fee of around $50. A tax company may be contacted to verify that you have paid your taxes, and this is another roughly $75.

Oh No, I Think My Home Is Worth Less
Than My Mortgage!
By George R Stone

Unfortunately, hundreds of thousands if not millions of homeowners are realizing this fact in today's depressed housing market. It is mostly a result of either a "no money down" home purchase or tapping that 'ever-growing' equity with some form of 100% home financing. The worst scenarios for home owners are those situations where there is a looming ARM adjustment in a year to three years where the homeowner had planned to refi or sell before mortgage interest rates adjust higher. Have you ever noticed Adjustable Rate Mortgages NEVER go down? It's SO painful!

For some that have a fixed rate, it's just a matter of waiting until home values go up. In many, if not most homes this has historically been the case. If you stay in one house long enough the value will eventually go back up. The exceptions to this waiting strategy occur in very localized areas where the economy has gone down the toilet giving homeowners a double whammy.

How Bad Is Today's Lending Crisis?
By Sam Chapman

I went to a very interesting meeting yesterday at which Joe Brown, founder of Milestone Mortgage, who walked us through the start and what he sees as the finish of the current lending crisis.  The following comes from notes I took.

After the crash of the tech sector and 9-11, our economy was in a world of hurt.  The Fed started cutting the discount rate and continued cutting until the discount rate came down over 5% over a relatively short period of time.  What resulted was more people buying homes as the cost of money was less expensive.

Out came home buyers - they were just about everywhere.  The cost of money was low and some lenders saw an opportunity that looked too good to be true.  Not only were buyers everywhere, but they were driving up the price of homes in many markets around the country.  What came next was a gap.  Prices were skyrocketing while wages were relatively stable.

Property Viewing: Take Your Time
By Mark Hostetler

So often in today's high-speed world, things get rushed. This is understandable as for most people time is money and there is precious little of it about. There are certain things that are typically rushed through, the shopping, exercising and so on. However, when it comes to major financial decisions and purchases it pays to take your time. Home purchases are definitely something that fall into this category. When viewing a home there are so many things to consider that it cannot possibly be done all at once. And if it is, then it is certain that some important things will get missed or overlooked. When this happens it can lead to buyer's remorse and with a purchase as large as a home that's a good amount of remorse.

Top 3 Tips for Moving Scams
Jennifer Connolly 

> Sell everything you own!
> Burn what's left over from the garage sale! 
> Buy all new stuff for your new place!

Okay, I'm kidding, kind of. In the past 20 years I've moved about 15 times, twice overseas and then twice back to the US. As much as I've really come to loathe the moving process, I love to travel so I do what I must.

5 Tips For Making A Home Attractive
To The Empty Nester
By Robert Palmer

In today's marketplace, people don't just purchase one home in their lifetime. They are buying several homes over the years, trading one for another at different points in their lives.

As a college graduate, you moved into your first home, usually an apartment or condo. As a young married couple, you moved into a starter home. As your family grew, you moved into a large, sprawling house in the suburbs.

Now that the kids have all left for college, careers, and lives on their own, what are you going to do with all of that space?

Many baby boomers are faced with this question every day. In some cases, it may not be the space that's the concern. It may be location, amenities, or even proximity that creates a desire to choose a new home.

Bright And Airy Homes Sell Better
By Justin Lee

Home selling, while time consuming can be intensely rewarding when the final offer finally comes in. There is nothing like the feeling of selling your home for an amount that males you happy and makes you some money. However in achieving this goal you may want to make a few changes to your home so that it shows better when listed, Homes that have dark and morose colors do not show too well as the dreary feeling of the dark paint is not really conducive to a selling environment. Buyers like to feel welcomed and warm when they arrive at a home and a gloomy atmosphere is the worst thing they can arrive to.