Advice

How to Afford a Down Payment

Saving for the down payment of your house is an expensive commitment. Sometimes you are required to have as much as 20% down in order to get the loan. If you want to buy a home that costs $200,000 then you would need $40,000 to purchase it. Here are some helpful tips on how to come up with the cash.

1. Reduce your living expenses: eat out less and eat at home more often. Try to rent movies instead of going to the theatre, but if you must gosee a brand new film avoid the snacks because that's where they empty your wallet. Make your own coffee instead of going to Starbucks. If you spent $5 less a week, then you would have an extra $260 a year! In four years that's more than $1,000! If you can get around without a car do it. You wont have to pay for gas and insurance, and you'll gain cash with the sale.

2. Bank it: Try putting your savings into a different account that you'll only touch for the down payment. Figure up a percent of you paycheck to add to that account.

3. Look for Federal/State Assistance: There are federal and state assistance programs to help with the first purchase of your home. Go to the U.S. Department of Housing and Urban Development for more information. HUD can also pair you up with a counselor who can give you advice on how to handle your debt and save for the down payment.

4. Put Away the Credit Card: Do your best to pay cash for your purcahses. If you don't have the card with you when you shop, then you won't buy items you can't afford and ones that you don't need in the first place.

5. Move in with Mom & Dad: Quit paying rent and move in with a relative or a friend. You'll save a great chunk of change without paying rent to a landlord.

6. Clip Coupons: You will only save less than a dollar on each purchase, but those pennies will add up.

7. Look for Extra Cash:...

Curb Appeal in the Fall & Winter

Driving up to a house and seeing the home from the street is known as its curb appeal, which also translates into its sex appeal. If you look at it in terms of attracting a new boyfriend or girlfirend, you have to look on the outside before you get to know the inside. Your home's exterior has to potential to attract or detract, and when you're selling you better doll your home up and be the prettiest one on the block. Here are some helpful tips to do so:

 pressure wash the sidewalk and driveway

 wash windows

 paint where it's needed

 trim your bushes

 plant flowers for the season

 have a freshly cut lawn

 don't over decorate for the season

 rake away leaves for the season and snow removed at the end of the season

You're hardwork should and will payoff

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Hidden Costs You Should Know About When Selling

Walking away from selling your house with less than you expected is one of the worst feelings in the world. Every nickel counts of that sale to go towards your next home. To make sure you don't face any hidden surprises on closing day is to ask your real estate agent for an estimated net sheet prior to accepting an offer. It won't be 100% accurate, but it will give you a decently fair picture of what you should expect. Here are some items that you should pay special attention to:

1.Commissions

     It is required for your real estate agent to disclose their fees in writing, but if you have negotiated a lower rate or some unexpected expenses come up, this amount could rise. Be sure to carefully look at the commissions amount for any erros at the end of the sale.

2. Property Taxes

     If you are closing your transaction around the time that property taxes are usually paid, it would be helpeful to bring a receipt to the escrow officer so you don't pay the same tax twice. You would surely receive a refund, but the proocess might take months.

3. Title Insurance

     If you have refinanced your home in the past two years, you may well be qualified for a discount on your title insurance premium. If you are being charged for full price, be sure to ask for a re-issue rate.

4. Buyer Closing Costs

      If you have agreed to pay for the buyer's closing costs, be sure to place a limit on how much you will pay. Without a cap this can take the form of a blank check allowing the lender to charge fees they normally would have waived if the buyer was paying the costs.

5. Transfer Fees

     In many states a transfer tax is charged when a home sells. Be sure to be clear of the amount being charged.

6. Notary &...

Home Fire Prevention

House fires are a concern for every home owner. Each year more than 3,500 are killed in house fires and another 18,000 are seriously injured. Some fires are started inside the home while others come from the outside like wildfires. Many of these fires can be prevented, so let us take a look into how to prevent inside the house fires.

Surprisingly enough the leading cause of fire-related deaths is smoking. It's not California wildfires or faulty electrical work. Cigarette fires kill 1,000 Americans a year, and injure another 4,000. Also cigarettes start a quarter of all fires each year.

USA Today reports that in the past 30 years cigarette fires have been the leading causee for tens of thousands of deaths.

The best way to reduce these type of fires is to simply not smoke, but if you are a smoker keep your butts in one spot. Don't litter them around the yard or the community. Don't throw them in areas that could easily be hazardous, like a trashcan.

Another leading cause of fires are children. Children playing with fire is a very likely way to get a good fire started. It's a good idea to have a serious sit-down with your kids explaining to them the dangers of starting fires. It takes less than 30 seconds for a small flame to erupt into a major flame, and most kids that start the fire are often swallowed by the fire.

Be responsible and create no fire zones around your home.

  • Never leave a fire,cigarette, or candle unattended.
  • Have smoke detectors on every level of your home. 
  • Always have a home fire extinguisher, and a garden hose.
  • Never burn brush near your home, or when it's windy and dry.
  • Remove dead leaves from your gutters and roof.
  • If you live in a hill know that fires travel uphill rather quickly. Stone and brick walls help deflect the flames

FEMA gives homeowners some valuable tips about 30 foot safe zones to help guard their homes during wildfires. This...

5 Things To Look For When Buying A Home

Because the first time home buyers tax credit, many home buyers have come back to the market. Low interest rates, tax credits, and low property values make this a good time to buy a home, but only if you can afford it. Even with the added number of foreclosures, the homes currently for sale have a greater range of physical conditions. If you are a first-time home buyer this process can be overwhelming, but here are 5 simple tips to help you out.

1. Don't let pretty wall colors fool you.

     Try envisioning the house painted white, and focus on the age of the major appliances, condition of the floors, and any signs of mold or structural damages.

2. Look at the age of the furnace.

     Out dated heating and cooling systems can cost you thousands if you have to replace them right away. It should also impact the price you are willing to bid on the house.

3. How old are the windows?

     If they are new, this is good because it will help you with heating and cooling bills.

4. Look at the roof.

     Is the roof caving in? Or is it pretty new? A caving in roof could mean water damage and that's one huge expense you don't want to ahve to pay for.

5. Check for water damage.

     A good indication of water damage is mold. Usually water from outside is leaking in and mold begins to appear. It is usually found along basement walls, so walk along outside to see where this might be happening. It is important to check for this to see how much repairs would cost you up front.

A good rule to remember is that you should always buy a house based on structural integrity rather than its decor and paint colors. A house with ugly walls and ugly carpet is much easier to fix than a cracked foundation. You also need the right realtor!

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Why you should, or shouldn't buy a foreclosed home

Homeowners are able to get great deals on foreclosed homes, but it is a risky process and you should be aware of those risks. There are pros and cons to buying foreclosed homes. To begin with there are several types of properties that are generally known as foreclosures. The first is pre-foreclosed homes which are in danger of becoming foreclosed, but still owned by tyhe home owner. A foreclosure is a property that is sold or repossessed by a creditor or lendor to recover the amount lost.

While pre-foreclosures are trying to be sold quickly by the homeowner, foreclosures are usually sold at auction by the bank.

Pros of buying a foreclosure

     Because you may be able to buy a home at great discount, you're winning the deal to begin with. Also if the home is in the pre-foreclosure the homeowner is trying to sell it quickly to avoid going into foreclosure. Because these homes are sold in a hurry, it gives the buyer major advantages.

Most banks are often willing to sell at discounts because the longer they hold these properties the more expensive they become in terms of taxes, maintenance, etc.

Foreclosures can be found at all price points like small starter homes to gigantic luxary homes, and sometimes only need some minor repairs.

With some sweat equity, and some hard work to repair and upgrades a homeowner can turn a distressed home into one with some appreciation and increased value.

Cons of buying a foreclosure

     Since a number foreclosures are sold at auction, you may have some steep competition when bidding on property. You may also have to pay cash that day for the home and may not even get to inspect the house before you buy it.

Foreclosures aren't always sold with a discount. Some of the time thepre-foreclosure sellers price them higher than they're worth to try and pay a little more on their mortgage and/or taxes. Banks are...

Refinancing Basic

Imagine a world that the only cost when borrowing money was interest. that world would be a lot simpler. There would be no application fees, title insurance premiums or points to consider, and when rates fell you would run out a refinance.

Unfortuantly life is not that easy and there are plentiful mortgage products that didn't exist a generation ago. A reduced rate is awesome, but if it locks you in it will cost you $4,000 dollars is it really worth it? If not what is a better rate worth to you?

The list of one-times costs are countable and you should have a decent understanding of each one.

     Title insurance- title companies charge this to gaurentee your title is free of liens encrumbrances.

     Appraisals- This cost is to have a professional appraiser value your home.

     Broker Commissions- a broker that helps you find the best rate.

     Credit application fees, loan organization fees, paperwork processing fees, etc.

This next cost is very important, but it is also optional. "Discount points" let you buy down your interest rate to a lower one. A point is normally worth one percent of the loan amount.

Certain costs, if you incur, them are ongoing. Premiums for mortgage insurance, if the lender requires it, could increase your monthly payments by a few percentage pointsfor the entire life of the loan.

The concept of breaking even defines the science of refinancing. An example is how many months will it take you to earn back those $3,600 in fees if your monthly rate is lowered by $100. The answer is 3 years for all you math savy people.

Life would be much simpler if someone just handed you a rate sheet with the bottom line of costs saying $3,600 dollars. But it doesn't work that way, so many costs are percentages based on the amount you intend to borrow.

Typically the break even question is expressed like this:...

How to Dive into a Swimming Pool Addition

     If you are considering adding a swimming pool to your property, you should remember what all it entails. it will add value and enhance your lifestyle, but it will also cost you to keep it looking refreshing, and some extra effort when you decide to sell your home.

     Homebuyers love and hate swimming pools, and the same thing goes for sellers. The pros and cons are many. Swimming pools can be a family oasis during the pool season or a mosquito breeding swamp during the off season. Pools can be a training arena and good work outs for athletes, but can also put little children in danger. Pools will cost you tens of thousands of dollars, and because buyers two way relationship with pools, don't expect to get the maximum return on your investment, especially in areas with harsh winters. If you are thinking about adding a swimming pool, take as much time thinking and planning about it as the contractor will take to build it.

Value Factors

     When talking value, get the opinion of a professional appraiser as to how much value a pool can add to your home. it can be a toss up. If a neighborhood with many pools, adding one can put your home next to the value level of those homes, but in a neighborhood without many pools, adding one can decrease your value because less buyers are interested.

     The neighborhood also comes into play with the value scale. If your neighborhood has excellent schools, few swimming pools, low crime, and is a popular one for new comers, then a pool will surely enchance your value. It's best to talk to a real estate agent familiar with your neighborhood to determine how homes with pools sell. Also talk with home owners with big and large pools to see how they affect value and salability.

     Anyone considering installing a pool needs to consider Design...

Is Your Mortgage Really a Debt?

A lot of people consider a mortgage and debt when they talk about their Louisville's house mortgage. What a mortgage is, is actually a debt with an investment attached to it. Can it really be called a debt when it is an investment as well?

When you are making a budget and you need to list all of your debts, your mortgage is listed as one of your debts. And when it comes time to list your investments it isn't added. This is because it is purely our mindset that makes us think of a mortgage as a debt.

When looking at your assets, you can look at the glass either half empty or half full. You're mortgage is a heavy load to bear, no doubt. But you can look at it like you're struggling every month to make the payments, or you can look at it like the best investment you'll ever make and try to make extra payments to strengthen your investment.

Andrew Carnegie once said, "90% of all millionaires become so through owning real estate."

People who are afraid of going into debt are the reason they're still renting. These people are fine putting low-rate money into savings accounts that don't have the same ROI as the housing industry. Real estate may take a few blows here and there, but it always bounces back once you wait out the storm.

The bottom line is that real estate is an investment. It's not something that can be put on a credit card like a new pair of shoes. The shoes are a debt because it will depreciate over time. Real estate is a tanglible asset that appreciates over time and can possibly lead to big money down the road.

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Is an Auction the Right Move For You?

All across the country, houses are being auctioned off thousands at a time. This is because they are distressed properties, bank owned, tax foreclosures, or the homeowner needs to sell quickly. Watching as hpomes receiver multiple bids from cash buyers can make even the most jaded seller wonder- is an auction the right move for me?

And the answer is- it depends. Auctions typically suit the sellers who are willing to accept a price far below the market price who are looking to sell fast. As for the sellers who do not need to sell fast, they have many advantages; and here are five reasons some sellers prefer auctions.

1. An auction is an event- it can be marketed easily.

2. Urgency for Buyers- the auction date creates a deadline for buyers to take action.

3. Seller Control- Sellers can set a reserve price and still remain in complete control.

4. Few or No Contingencies- There are hardly any if any at all conditions of an auction sale.

5. Fast Closing- Auction sales are typically closed within 30-45 days.

     Real estate auctions are very similar to a regular auction, but there are a few key differences. It begins with a homeowners wanting to sell quickly and at a discounted price. Next, the property is analyzed for its market value, which is a standard appraisal. It can also be done using the county tax value, or a competitive market anaylsis. Once the real price has been established, the seller and the auctioneer agree on a price that will attract buyers. Lastly, the seller and the auctioneer agree on the type of auction that will most fit the sellers needs. Here is a list and brief discription of different styles of auctions used to sell real estate.

Absolute Auction- This auction is sold to the highest qualified bidder. This means that if only one person who bids $100, gets the property.

Auction with Reverse- This auction reserves the right for the seller to decline any or all bids. If a seller...

5 Ways to Sell A Home Faster, for More Money!

Wall St. recently asked real estate experts and organizations how sellers can sell their house for the best price within the shortest amount of time. Here's what they had to say.

Pay Attention to "Curb Appeal":First impressions last forever, and are critically important. Homes with pleasant exterior and landscapes usually tend to sell better. Make sure the driveway is in good condition, the house is freshly painted, and the lawn is well groomed.

Set the Right Price: Real estate agents are trained to sell houses and put them on the market at the right price. They use comparable homes sold within the last 90 days to set a realistic price for the home to be sold. By setting a realistic price in the beginning, sellers are aware that this will prevent them from having to drop the price several times and sit on the market for some time.

Talk About Energy Effeciency: Most buyers don't understand the concept of "green homes" but they do understand the word "savings". Agents should highlight any features in their homes such as energy effecient appliances that could save buyers money with utility costs.

Give the Home Web Appeal: Photographs do an unbelievable job at givinghomes first impressions. Realtor.com claims that 6,300 photos are viewed every minute on listings posted on its site. You should use at least 12 photos per listing.

Make it Move-in Ready:  Fix any needed repairs whatever they may be. Even the smallest flaws in a home can distract a buyer, and should be fixed even before the home is put on the market. Some agents recommend sellers get a home inspection before even putting the home on the market which can help...

No More Low Balling

Low Balling is the offer that is below 25% of the asking price. It usually hurts to get low balled, but it it happens all the time; and it is the most common complaint on realtors. In today's high-demand and high-cost markets the sellers are firmly in control. It is true that multiple offers on a property are the rule, and not the exception.

Part of this problem could be associated with the fact that more homes are coming into the market at priced at fair market value. There is a learning curve taht sellers have had to comprehend, but since the six years since the collapse of the housing market, reality pricing is more the rule than the exception.

This quote by Jayne Esposito, a San Francisco realtor, sums up her recent and most realtors recent experiences, "Sure, I've had a few buyers try to lowball and they wouldn't listen, but that didn't work out well for them."

Lowballing has been a popular practice by buyers in the past, but in today's 2012 environment lowballing can be counterproductive if you truly want to buy.

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What Realtors Do that You Cannot

Good piece of advice: Don't try to buy a house without a realtor. It's a smart home-buying advantage. I have a bit if information below as to why it's so helpful to have one working with you.

When you are buying a house, it's good to know some things, but not all. Have you heard the expression "a little knowledge is a dangerous thing". It's only dangerous when that little bit of knowledge gives you a false impression that you don't need to be surrouded by professionals. It's vitally important to know what you dont know. In order to buy a home successfully, you need to rely on the expertise, knowledge, and professionalism of expert real estate agents. Realtors know to business like the back of their hand and experience in every step of the buying and selling process. When you see or hear about a property that you're interested in the best thing to do is to call a realtor to make sure some professionalism is put into action. Here is a list of things realtors have that we don't. 

  • They have access to every home on the market through Multiple Listing Service, including ones that aren't listed publicly.
  • Inside track of the deals before they even hit the market.
  • The ability to combine your price range with your dream house checklist.
  • Recent knowledge of comparable properties what they've sold for and how long it took.
  • Neighborhood knowledge.
  • Negotiating abilities with sellers on your behalf.
  • The inside scoop from the sellers agents.
  • Expertise to negotiate and close the deal.
  • Legality experience on foreclosures and distressed homes.
  • Muscle to get a deal through the escrow or "under contract" period.
  • they know groups of referrals for inspectors, mortgage brokers, and even tradesmen for renovations.
  • Professional advice if you have buyer's remorse.

Also remember that today home purchase agreements can be ten pages or more, and agents will need to take...

What to do with the House After a Divorce

Most newly married couples buy a home together, and some marriages unfortuantly fall into a divorce. Then both partners want to continue living in the house, but cannot agree on the terms of who gets to stay. Sometimes they compromise and get a dovrce decree which one partner can sell the house and split the proceeds, or they can buy the other out in a period of time.

Often times when on spouse moves out and another stays, the one who stays doesn't end up staying for very long. In one situation the person who stayed ended up refinancing the mortgage. Since the person who stayed refinanced and moved out shortly after, stopped paying the mortgage, they file for bankruptcy. So since the house is in both names at the time of the purchase, does this mean one person will lose the investment in the house.

Answer: The good news is only one person refinanced the house in THEIR name only. One possible solution is for you to start making the mortgage payments for your ex-significant other, and let them sign the deed over to you. If you do this, you need to understand what value, if any, the house has left. The last thing you want to do is to take responsibility over a house that is already "underwater". The first step should be to get an appraisal on the house.

If your ex-spouse doesn't like this situation, you can probably sue to start making payments. But then again you don't want to spend more than the house is worth.

However, the best thing to do is to discuss this situation with your divorce attorney to find out how many options you have and which one is the best for you. They will also tell you how much this process will relatively cost.

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Where to Begin with Home Insurance

Good news for everyone is that shopping for home insurance has become a much easier task now that shopping can be done online with sites like Insweb.com. Insweb.com offers a free database which gives quotes from up to 8 insurers. They are basically a search engine comparisopn site which gives you quotes compared to another site. Picking out which insurance is right for you and your home can be a cumbersome tasks especially if it is your first time. There are numerous providers out there with countless packages, and it is very difficult to tell which one is the right one for you.

There is also an article on the CNN site under the money section which i recommend reading, which discusses the top 'need to knows' about insurance. They also hold some other fabulous articles that pertain to general home ownership.

Insurance coverage and requirements usually depend on which state and or country you live in. For example, residents of San Francisco have the option of buying earthquake insurance since that area is very earthquake prone. People who live in the midwest are prone to tornadoes, which in turn makes buying insurance more expensive. Regardless of where you live, it is important to always check out two or four quotes before making a purchase decision. It will save you money and it gives you piece of mind knowing you didn't just select the first insurance plan that came across your path. Goodluck in your search.

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Setting the Right Price for Your Home

A key element in the marketing plan is setting housing list prices. If your home is priced too low, there isn't much room for benefits; and if it's priced to high, potential buyers won't be interested. It will also sit on the market for quite a while. To find the best asking price ask your agent what the cost of recently sold homes were in your area. You should also use current market trends and evaluate the competition to find a reasonable price for your home. You may find it helpful to talk to your agent about other terms and condition, and what items should be included in the sale of them home. Both of these can make your home more appealing to potential buyers.

     1.Location: this is one element you cannot escape. If your house is in a desirable area that is in demand, you will be getting a better price than other houses in other areas.

     2. Condition: Potential buyers always favor houses that have constantly been maintained over houses that were neglected.

     3. Desirable amenities: It's simple, houses that include popular amenities in the marketplace, it will bring a higher price.

     4. Calculate the price per square foot: The average price per square foot shouldn't be the final determinant of the final asking price for your home, but it is a helpful starting point.

For unique properties, a formal written appraisal can be useful. Some owners are having trouble finding the right asking prices because of a lack of activity in their area, co-owners disagreeing on prices, and unsure of where to begin. Keep in mind that appraisers consider the location of the home, it's proximity to good schools and other public facilities, the size of the lot, the size and condition of the home itself, and recent sales of comparable properties.

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The Golden Rule To Selling Your Posch Palace

You've completed all the greatest renovations on your new home by hiring a designer, shifted the Fung Shui till good auras were flowing out from every piece of furniture in the house. Even though you've spent a huge amount of money renovating, it's a given from day one in the luxary buyer's market the buyer will come in and redo everything.

The buyer of your lovely mansion will sand the floors restain them, strip the bathroom and redo it, paint a few walls, add a deck, change the cabinets all because it's their taste, not yours. This is the luxary buyers market, and they're going to make their newly bought home fit to their style. So what should you do?

The golden rule here is not to look at your posch palace as your maticously designed home, instead it is a commodity. All the effort and money you've put into designing your home is hopefully the thing that will allow you to sell your home quickly and at the right price. It is unlikely that you're home will sell better than the market, so get a good agent, a great CMA, and price your mansion right. In this market, you'll probably get lower than you want, and that's why it's important who will get a good agent who will actually sell the true value of your home instead of testing the market with a price above what other homes are selling for.

Just remember your home is now a commodity, and people want it. Be sure to stage it properly and sell it like it's the best house in the world. Also be ready for potential buyers to bring in their cabinet maker to see what possible work could be done during an open house.

You love your home now, but you'll love your next one too. One last positive note to keep in mind is that your next home will most likely be selling less than it has in a decade or more.

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Moving with Pets

Pet owners often face a stressful delimma when moving. They consider them as beloved family members, and want to make the moving process as easy as they can for their furry friends. Our pets are routined animals, unlike humans. Our pets look to us for providing them with nourishment, safety, and affection. It is our responsibility to make sure our pets have a low stress level during the moving process.

It's very important to plan ahead when you're loading the moving vans and your house doors are likely to be open. Now wouldn't be a great time to be chasing your dog down the street, or panicking over a lost cat. Ask a friend to be a pet sitter while you're packing up the house. It also eliminates the chance of you tripping over them when going in and out of the house numerous times possibly injuring yourself or them. Also consider a kennel, but if heither of these choices is an option, keep them in  fenced in or in the backyard.

Because your animals are routine animals, it's a good idea to keep their eating and potty habits at their regular times. Your afternoon walks can act as your stress reliever also. Keep your pets food constant by stocking up on the brand they like before leaving town; you don't want a hunger strike! 

Go to the vet and make sure your pet is up-to-date on all their vaccinations. Also consider microchipping your pet incase they wander off during the move; if you don't want the microchip then you should update the tags on their collar.

often times moving involves driving across states or even the entire country. Ask your vet what they recommend for distance traveling. You'll want to pack a some pet ammenities for the tiring drive. These include food, water bowl, treats, blankets, leashes, travel litters, etc.

Once you're at your new home be quick in setting up their 'go to' areas. It might be wise to contain them in a bedroom or bathroom while you unload your belongings. But don't forget to show them attention to reassure...

Which Remodeling Efforts Entice Buyers

During the past few years most sellers have chosen to stay put in their homes because tey would rather remodel than move. Someday you might want to move, so which remodeling projects help add value to your home and entice buyers?

Considering the housing market as it stands today, there are a few areas that are more important than others to remodel. Here are a few areas to consider remodeling to help entice potential buyers.

Aging in Place

     Since tough economic times are  upon us through short sales and foreclosures, some families are combining homes to reduce the cost of living and living under a single roof. The National Association of Home Builders has found that 62 percent of builders in a survey were working on home projects that were helping families 'age in place'. These types of remodeling are placing a bedroom at the entry-level of a home, wider doorways that would fit a wheelchair, and accomodations that benefit the elderly like less stairs. These new accomodations were once looked at as unattractive, but since a decent amount of families are trying to age in palce they are now considered valuable.

Savvy Kitchen

     Popular rooms that bring families together are still the kitchens and living rooms. Most families prefer to sit down and spend time together even if it means having less space to prepare a meal. Utility rooms and pantries are becoming more popular while cabinets and shelves are being customized to meet the needs of a family, which can be expensive. Kitchens are becoming more of a cooking space for chefs with open shelving and islands to help prepare food faster while still being able to mingle with guests.

Totally Wired

     Busy workers who usally work from home are finding smart homes to be more appealing. These homes cater to the needs of people who work from home by being able to handle all the...

Should I Accept this Offer?

Being a seller in today's market surely has its challenges. When do you know if you should accept or pass on an offer? Is the current offer a low ball offer or simply hesitating over attachment to the home. This is most crucial question to ask yourself.

It's time to emotionally detach yourself from all the hard work you've put into your home. You know down to the penny what you've invested in your home, but in today's market housing prices have dipped and it's now time to look at your house in a financial perspective.

Ask yourself how long your home has been on the market. If your home is new to the market and have already had multiple requests for showings, accepting the first offer can be risky. The first offer might be lower than what you were hoping for, but you may not have another offer for quite awhile.

Are the terms agreeable? Some offers can will be sticklers with moving-out dates, closing cost consessions, but may be giving you the price you've asked for. You will need to have a home for yourself lined up incase the buyer wants you out in two weeks. Be sure to ask your agent about all the factors included in the sale.

Another question to ask yourself is if you will lose money on the sale. In the past six years most homes have lost value, plain and simple. So can you afford to sell at the offered price, or will this loss cause you to be too far in debt on your next mortgage?

Are you in risk of going into forclosure? If you are in risk of not making your mortgage payments and hurting your credit for the next seven years then you should probably sell on the lower offers. Buyers are few and far between in today's markets.

Your agent has some expertise. They can tell you the market activity of your area is like, how long homes usually sit on the market, etc. If you have an offer that you think is too low, ask your agent if they think you'll receive another offer in a short period of time.

Today all buyers are looking for a deal. They...