Staging a home to perfection can certainly get buyers’ attention, but pricing the home to sell is what often will get them in the front door, housing experts say. With home values dropping across the country, a few sellers are still struggling to come to terms that their home may not be worth what they previously thought. About 77 percent of home owners believe their home is worth more than the recommended listing price, according to real estate professionals surveyed in the HomeGain National Home Values Survey. Yet, about 67 percent of home buyers say home values are still overpriced. Nearby foreclosures can certainly influence a seller’s asking price. Foreclosures in a community can actually reduce nearby property values, on average, by $20,300 per household, according to research by ... 10/28/2011

Making Home Affordable's refinancing option is known as the Home Affordable Refinance program, or HARP. It's designed for homeowners who, although keeping up with payments, are prevented from refinancing their mortgages to lower rates due to declining home values. HARP might be right for you if your rate is above-market and your current mortgage amount is near or more than what your house is worth.You need to be current on your mortgage payments to qualify, and have good credit and income. Contact your mortgage lender to apply. If you're behind on your mortgage payments and running the risk of foreclosure, instead look into Making Home Affordable's loan modification option.Keep in mind that to be eligible for HARP, your primary mortgage--alternatively called a first lien--can't exceed 1... 10/28/2011

When it comes to a mortgage refinance, it’s less about how much you’ll spend and more about how long you’ll stay. Do the math No. 2 above requires some calculation on your part. To figure it out, you’ll need to know: The closing costs for a new loan. Ask potential lenders—costs usually run 3% to 6% of the loan amount. Lenders may finance these costs (that is, fold them into your loan amount), so you don’t actually have to write a check, but you’re still paying for it. Your current mortgage payment. Your potential new payment. Again, your lender can give you this. The length of time you plan to keep your home. To simplify these calculations, do a quick search online for various free mortgage refinance calculators, which can be found on many bank sites. Find your breakeven point Here’s an... 10/28/2011

Homebuyers advice and essential tips to get finance Even though the property market is weighted in favour of buyers at the moment, finding and purchasing a home is usually still a pretty nerve-wracking experience, because there are always fears about picking the wrong property or paying too much. However, says Hano Jacobs, prospective buyers can combat this anxiety by applying the following “stress-busters” to their house hunting process: 1. Consult a mortgage originator and get proper home loan advice and a pre-approval. That way you won’t waste time viewing what you can’t afford and you’ll be able to show sellers that you are a serious buyer equipped to make a serious offer. Remember, though, to allow enough time in the sale agreement for the bank to perform its own evaluation of the ... 10/28/2011

Reasonably enough, Americans hate almost everything about the real estate recession. Underwater owners hate that they can neither sell nor refinance, distressed homeowners and consumer advocates hate robo-signing, and just about everyone hates plummeting home values. They even strike fear in the hearts of the buyers who are taking advantage of them. So, it might surprise you to hear that there is a list — true, a short list — of real estate trends the recession has triggered that we hope will stick around. Buying for less than you are approved for. A few years ago, mortgage money was easy to come by, and the norm was to buy at or very near the maximum price you were approved for. The theory was that with prices on the rise, it made sense to buy as much house as you could, as soon as yo... 10/28/2011

  Property taxes can be a major expense for investors, but understanding how this tax works could save you thousands of dollars in the long run. The first thing to learn about property tax is that property is divided into two categories: real and personal. Real property includes land, buildings and permanent property attached to land— such as a well. Personal property is everything else, including clothes, books, electronics, furniture and financial holdings. Personal property is further divided into either tangible property or intangible property. Tangible property is anything you can touch, such as a sofa or a blender and intangible property includes abstract possessions like stocks, bonds and patents. Methods for calculating property tax vary from city to city. Smaller cities send a... 10/28/2011

“The 5″ First Time Home Buyer Mistakes…Ouch! 4 Comments   Listen up my first timers!  Now that I have informed you of these “5″ mistakes, let’s try to avoid them shall we .  According to our beloved National Association of Realtors, you first timers made up almost 40% of all purchases in 2010!  This is why I have gone to such lengths to educate and advocate for my buyer clients…because so many of you are at your first rodeo.  Due to your general inexperience and lack of knowledge of, not just the process, but the HOW and WHY to buy, I work hard to ensure that you don’t get burned.  Without further adieu then: Whoa, It Costs How Much To Own a Home?The time and costs associated with the upkeep of a home you own is not comparable, at all, to what you were used to when you rented.  You must... 10/28/2011

Here are some firewood tips to consider as you begin stockpiling wood for your fireplace or stove this heating season: To help avoid insect or pests, never store firewood on the ground or touching your house. Burn only dry, seasoned and clean natural wood. Wood should be cut, split and stacked in a covered area for about six months before burning. Well-seasoned logs will seem lighter in weight and have dark cut ends with cracks or splits. Some of the wood with the most heat value includes American beech, apple, ironwood, red oak, shagbark hickory, sugar maple, white ash, white oak, and yellow birch. Wood is often sold by the cord or 1/2 cord. A cord of wood is a pile of logs 4 feet wide by 4 feet high by 8 feet long and weighs about 2 tons. Don’t buy more than you can store and use for ... 10/09/2011

FALL MAINTENANCE CHECKLIST   Regularly checking your home for maintenance needs throughout the year is the best way to keep your home safe and prevent the need for costly emergency repairs. But fall is one time of year when a thorough systematic inspection is really needed to make sure your home is weathertight and ready to withstand the cold and storms through the winter months. Here is a brief checklist to guide you through some basic tasks before it is too late to properly and effectively perform repairs: GROUNDS Check window wells, dry wells and storm drains for debris or blockage. Repair any driveway cracks and/or heaved or settled walkways. Trim all trees and shrubs, particularly any too close to the house. Check (ideally during a rainstorm) that all rainwater drains away from th... 10/09/2011

(ARA) - Maintaining a healthy home is critical for your family's welfare - especially now as the weather cools and you begin to spend more time indoors. Applying a few simple solutions now will ensure your indoor living environment is safe and healthy for seasons to come. Reduce toxins Less desirable weather may make fall and winter seem like an ideal time to tackle your indoor painting projects. However, you need to be mindful of the volatile organic compounds (VOCs) found in many interior paints and finishes. VOCs are one of the biggest threats to indoor air quality; they include a variety of chemicals, some of which may have both short- and long-term health effects. For indoor jobs, select paint with low or no VOCs to keep your air fresher. Additionally, some houseplants such as ivy ... 10/07/2011

  September 2011 | By Melissa Dittmann Tracey   Buyers want it all. They want a home warranty, closing costs covered, and maybe even the big-screen TV and some of the furniture. Oh, and they also want $20,000 — probably more — shaved off the asking price. And sellers are mad, feeling trapped and wondering how much more they have to give up to seal a deal. Sound familiar? Negotiations nowadays can be tense. And trying to reach a deal that can keep both sides happy is getting tougher. One of every six real estate professionals reported in June having signed contracts canceled before closing, according to the National Associa... 10/07/2011

The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain from your income. Here are ten tips from the IRS to keep in mind when selling your home. In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale. If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases). You are not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period ... 10/07/2011

For what the typical family wastes every year on air leaks--about $350--you can plug energy-robbing gaps, start saving money, and enjoy a more comfortable home. 1. Insulate around recessed lights Most recessed lights have vents that open into the attic, a direct route for heated or cooled air to escape. When you consider that many homes have 30 or 40 of these fixtures, it's easy to see why researchers at the Pennsylvania Housing Research/Resource Center pinpointed them as a leading cause of household air leaks. Lights labeled ICAT, for "insulation contact and air tight," are already sealed; look for the label next to the bulb. If you don't see it, assume yours leaks. An airtight baffle ($8-$30 at the home center) is a quick fix. Remove the bulb, push the baffle up into the housing, then... 10/07/2011

Even though it costs about one-third to one-fourth less to save a kilowatt hour through conservation than it does to build, fuel, and operate a new power plant, utilities resisted conservation programs for years, says Martin Kushler, senior fellow with the American Council for an Energy-Efficient Economy (ACEEE). Instead, they opted to finance new plants over the long term and pass along the costs to all of us as higher rates—until regulators stepped in. What energy rebates are available through your utility? Some are small—say, a $20 rebate after you purchase a programmable thermostat. Others range into the thousands of dollars, especially for expensive items such as solar panels. A few examples of home improvements that can qualify for energy rebates from utilities: Installing Energy ... 10/07/2011

Put lamps in the corners: Did you know you can switch to a lower wattage bulb in a lamp or lower its dimmer switch and not lose a noticeable amount of light? It’s all about placement. When a lamp is placed in a corner, the light reflects off the adjoining walls, which makes the room lighter and brighter. Switch to a laptop: If you’re reading this article on a laptop, you’re using 1/3 less energy than if you’re reading this on a desktop. Choose an LCD TV: If you’re among those considering a flat-screen upgrade from your conventional, CRT TV, choose an LCD screen for the biggest energy save. Give your water heater a blanket: Just like you pile on extra layers in the winter, your hot water heater can use some extra insulation too. A fiberglass insulation blanket is a simple addition that c... 10/07/2011

Owning a home is a part of the American dream, but how do you know when that dream is attainable? Although there are many important steps towards purchasing a house, there are a few necessary ones that should be taken before the house hunting even begins, to help the process go smoothly. Here are a few tips to preparing yourself for a home purchase. 1. Get Your Finances in OrderWithout the proper financial standing, your dream home could remain imaginary. Get to know your credit score and make sure it’s in good shape. If it’s not, repair any damage that you can. The better your credit score, the easier it is to get a loan for a home. Also, make sure you have enough money set aside, for not only a down payment, but for any fees or other unexpected expenses that will come along before clo... 10/07/2011

We, most of us, live in our homes a lot differently than we would show our home. Sure, I’d like to have my home in show condition all the time, however, reality steps in. I have a busy schedule, a hubby, three children, three hair shedding furry children I don’t want to live without, and a full time (plus) career I love. I get it. It’s hard work keeping a home in show condition 24/7. Here are 3 things to remember that may ease the stress:1.     It’s only temporary. Good condition (or better) reduces days on the market.2.     More money in your pocket. Good condition makes your negotiating stronger. If the house doesn’t need paint, the offer should not reflect the cost of paint and even a professional painter.3.     Increases your potential come time for an appraisal. Appraisal is a big ... 10/07/2011

Add a little payment to principal. Use mortgage calculators to see how adding a little extra payment to your principal--even $100--can shorten the length of your loan and reduce the amount of interest you'll pay on it. Tracy Piercy, CEO of MoneyMinding.com, says home owners can just round their monthly payments up (e.g. $644 to $650) to find savings too--just an extra $6 per month on a $200,000, 30-year loan can save you four payments at the end of your mortgage loan. Refinance. Interest rates are low and you can often can get an even better rate if you refinance into a shorter loan term. For example, 15-year loans are a popular refinancing choice. You'll have higher payments, but you'll be paying less overall interest. Or if you don't want to commit to the higher payments, take out a 3... 10/07/2011

If you moved due to a change in your job or business location, or because you started a new job or business, you may be able to deduct your reasonable moving expenses but not any expenses for meals. To qualify for the moving expense deduction, you must satisfy two tests. Under the first test, the "distance test", your new workplace must be at least 50 miles farther from your old home than your old job location was from your old home. If you had no previous workplace, your new job location must be at least 50 miles from your old home. The second test is the "time test". If you are an employee, you must work full-time for at least 39 weeks during the first 12 months immediately following your arrival in the general area of your new job location. If you are self-employed, you must work ful... 10/07/2011

A good public school system can be an important consideration for home buyers, even if you don't have school-aged children. That's because good schools can enhance the resale value of your home and make it more attractive to a broader pool of buyers and tenants. To conduct your own comparisons, go to School Match, which offers school research and data consulting services. Here you'll find test scores, student-teacher ratios, spending and education levels for residents, and more.School Match provides verified school data, as opposed to self-reported data, which can lead to various misinterpretations. Data that has been independently verified allows you to make better school district comparisons before you move.  10/07/2011