Recently buyers who were in contract to purchase a home in Oakland, Calif., asked the seller to credit them money in escrow. The money was to be applied toward repairs that were recommended in the course of the buyers’ inspections. The sellers were offended. They had agreed to sell for significantly less than their asking price. They weren’t inclined to make any further concessions. So they turned down the buyers’ request and told their agent to put the house back on the market. The buyers, realizing that they were buying the house at a fair price, removed their inspection contingency and the sale went through.

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Americans, it seems, are rediscovering the pleasures of their own backyards. For many what was once a place for casual barbecues with friends has now become a full-fledged room with all the amenities of the indoors: gourmet appliances, light fixtures, cushioned furniture and even flat-screen televisions. In colder parts of the country, homeowners are putting in heat lamps and fireplaces so they can lounge outside almost any time of year.

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search for : backyard, barbecue

Recently listed is this one of a kind, 2.87 acre Waterfront Lot with a beautiful view of W. KERR SCOTT LAKE.

It features easy lake access and is dock approved.

The lot is alredy cleared and is ready for building your beautiful home.

Important for lake lots, the property has been “Perc” tested and approved for a septic system for a 3 Bedroom 2 Bath home.

$400,000 for this unique NC lakefront property.

Contact Greg Stikeleather, Broker, 704.880.5247 or email Greg at grstike@charter.net

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Thanks to abnormally low mortgage interest rates, home sellers had an extremely favorable “seller’s market” for the last few years. That means there were more qualified home buyers in the market than there were homes available for sale. Homes often sold in just a few days or weeks. Typical home sale prices appreciated 10 percent or more annually for the last few years in many communities. Since 2000, the average U.S. home has doubled in market value, according to the National Association of Realtors.

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search for : mortgage interest rate, home buyer

More so than with any other room, remodeling a bathroom can increase your home’s resale value. In fact, a moderate-sized bathroom remodel, which costs about $10,499, brings a 102 percent return on your investment, according to the 2005 Cost vs. Value Report published by the National Associa-tion of Realtors in REALTOR Magazine and by Hanley-Wood in Remodeling magazine.

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search for : remodeling a bathroom, home’s resale value, bathroom remodel

The woods are full of agents these days, and many are beginners. Here are the eight questions you can ask to separate the average agents from the experienced heavy hitters. Whether you’re buying or selling, the difference between having an average real-estate agent or a superstar can mean thousands of dollars in your pocket. It can mean selling your home for top dollar (stellar) or losing the house of your dreams to a more organized buyer (decidedly not stellar).

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search for : real-estate agent

One out of every three low-income borrower falls behind on bill payments in a typical year, one out of every four now pays more than 40 percent of their income on debt payments and the total debt held by low-income households has soared by 308 percent during the last 15 years. A recent National Foundation for Credit Counseling (NFCC) survey found consumers universally ignore the fundamentals of sound financial management, such as budgeting and tracking expenses, ordering free credit reports, and managing debt. In another study by Bankrate, Inc. researchers found 34 percent of home owners do not know what type of mortgage they own. The study also said 34 percent of homeowners with adjustable rate mortgages (ARMs) do not know what they will do when their loan readjusts.

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I was asked by my friends at MortgageLoanPlace to review their website.

A first look shows that the site concentrates on discussing the financial decisions home buyers and owners make when deciding among the variety of mortgage loan products. Banks, direct lenders and brokers offer deals that are sometimes overly confusing and needlessly complex.

Traditional home loans, government-subsidized loans such as VA and FHA loans, refinancing an existing loan, or securing a line-of-credit are all discussed at the Mortgage Loan Place.

Of particular interest to retirees, the site features a number of articles that discuss the pros and cons of reverse mortgages. It may be uncomfortable topic to think about your demise, but you may wonder about your heirs should you die before the reverse mortgage loan is due. And, it’s especially important to consider your current financial situation to decide who will be involved in the planning of your reverse mortgage.

Another especially timely topic concerns a home-equity loan which is simply a second mortgage on your home that allows you to get cash out of your equity without refinancing your existing loan. You can obtain a home equity loan to pay for home improvements, remodeling, college, travel, a car, debt consolidation, or any other financial obligation. Plus, the interest on a home equity loan is usually tax deductible, unlike the interest on consumer loans.

Visit the MortgageLoanPlace. You will be richly rewarded with a wealth of information.

The whole sorry mess of high-interest-rate mortgages and excessive foreclosures among buyers of low-cost starter homes is too big and complex to pin on mortgage brokers alone. Months of investigating and numerous stories by Observer reporters have uncovered instances of inflated home appraisals, erroneous financial information on mortgage papers, and high-pressure sales tactics, as well as a lack of resources for counseling to avert foreclosures. The result: Foreclosures in this region are at record levels. In some neighborhoods excessive foreclosures are lowering property values. It’s all part of a national wave of foreclosures so big it’s chilling the whole lending industry.

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search for : high-interest-rate mortgage, foreclosures, low-cost starter home

The question is, can you really afford to pay for a house and still save for retirement. Will you have sufficient income to pay the mortgage, insurance, real estate taxes, utilities and maintenance costs and still sock away enough in 401(k)s and other retirement plans so you’ll have an adequate nest egg when you retire? That can be a tough call. For one thing, you’ve got to have a sense of how much of your annual income you should be saving for retirement. You’ve also got to factor in future earnings prospects. After all, things could be tight now and for the next couple of years. But if your salary is likely to rise significantly in the not too distant future, then you’ll probably have a lot more wiggle room after housing costs, allowing you to ramp up your retirement savings effort.

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search for : mortgage, insurance, real estate taxes, retirement savings